Please note that it is only possible to update transaction categories or other transaction information in the NerdWallet app, not on the website.
NerdWallet uses an internal algorithm that automatically categorizes each transaction. The transactions displayed in your account should generally match what you'd see if you were to check each account's individual ongoing activity. While the transaction amount itself cannot be changed, you can adjust the transaction category to better reflect spending, income or an internal transfer as needed.
For example, sometimes credit card payments are incorrectly auto-categorized and must be adjusted to 'internal transfer' to avoid being calculated as income in the receiving account.
It is not currently possible to add your own custom categories for transactions, though we may offer this option in the future.
To change a transaction category in the NerdWallet app (does not apply to 'SAVINGS' as that is automatically calculated):
From the CASH FLOW tab > RECENT TRANSACTIONS or VIEW ALL TRANSACTIONS
Tap the transaction that you’d like to update.
Tap the pencil icon in the upper right corner to edit.
You’ll find the category at the bottom of the transaction details pop-up. Tap the existing category, then select the new category from the available options that pop up.
Tap Save for this transaction. The category will be automatically updated.
You can also choose 'Apply to all from this place' which will attempt to identify and categorize all matching transactions.
Please note:
it is not possible to update transaction categories or other transaction information on the web version of NerdWallet. We are consolidating our efforts to deliver a better in-app experience and deprecating some features from the web version.
Your "savings" are automatically calculated as your income minus your expenditures, so there is no selectable "savings" category.
You can learn more about features that are only available in the app here: https://www.nerdwallet.com/p/web-deprecation-faq