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Nick Clements
Works at MagnifyMoney.com
Attended Stanford University
Lives in New York, NY 10024
148 followers|103,138 views
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Nick Clements

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Making financial decisions is a little bit math, and a whole lot of psychology. Not convinced? Read about a recent 6-nation study that shows the importance of how we make decisions on our financial health. 
How do we make financial decisions? Do we behave like characters in an economics textbook, maximizing our utility subject to budget constraints? Or do we fall victim to the psychology of the mob, running through stores and grabbing everything in sight on Black Friday? Understanding how we make financial decisions [...]
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Nick Clements

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When your identity is stolen, not only is your wallet at risk. So is your credit score. Find out how to protect both. 
Identity theft is a frightening crime that continues to dominate the headlines. Barely a month goes by without another major breach in the news. According to TransUnion, 19 people fall victim to identity theft every minute. There are three big risks that impact American consumers: One of your existing credit or [...]
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Nick Clements

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Clinton unveiled a new $350BN plan for student loan debt. But will it help reduce the cost of education and stop the rising tide of defaults? I doubt it, and explain here. 
Hillary Clinton has unveiled an ambitious $350 billion plan to help people graduate from in-state public schools without debt. But is this plan enough?
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Nick Clements

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Why you need to understand utilization if you want to have a good credit score. 
Obtaining a credit score above 750 makes life cheaper. You will be able to obtain mortgages and auto loans at the lowest possible interest rates. Having a good credit credit score can even be more important than avoiding a DUI to get the lowest auto insurance rates. In recent years, [...]
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Nick Clements

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Before refinancing your student loans, credit cards or mortgage - make sure you understand the risks. 
Refinancing high interest rate debt to a lower interest rate can be a great way to save money. While this strategy can make a lot of sense, there are some risks. Before signing on the dotted line, make sure you consider those risks carefully. Student Loans The student loan market has experienced [...]
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Nick Clements

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4 Reasons Credit Score Tips Can Be Useless (at Forbes)
We are obsessed with credit scores in America. I regularly host financial literacy seminars. During those seminars, participants have the ability to ask questions. And rather than asking about how to get out of debt, plan for retirement or save money, the majority of questions inevitably focus on credit scoring. We have somehow [...]
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In his circles
189 people
Have him in circles
148 people
Nick King's profile photo
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Nick Clements

Discussion  - 
 
When your identity is stolen, not only is your wallet at risk. Your credit score is also at risk. Find out how to protect both. 
Identity theft is a frightening crime that continues to dominate the headlines. Barely a month goes by without another major breach in the news. According to TransUnion, 19 people fall victim to identity theft every minute. There are three big risks that impact American consumers: One of your existing credit or [...]
1
Add a comment...

Nick Clements

Discussion  - 
 
Clinton unveiled a $350 BN plan for student loan debt. But will it help reverse the soaring cost of education and fix the looming default crisis? I doubt it, and explain here. 
3
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Nick Clements

Discussion  - 
 
Do you want a good credit score? Utilization is an important part of the equation. Understand it here. 
Obtaining a credit score above 750 makes life cheaper. You will be able to obtain mortgages and auto loans at the lowest possible interest rates. Having a good credit credit score can even be more important than avoiding a DUI to get the lowest auto insurance rates. In recent years, [...]
3
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Nick Clements

Shared publicly  - 
 
Before refinancing your student loans, credit cards or mortgage - make sure you understand the risks. 
Refinancing high interest rate debt to a lower interest rate can be a great way to save money. While this strategy can make a lot of sense, there are some risks. Before signing on the dotted line, make sure you consider those risks carefully. Student Loans The student loan market has experienced [...]
1
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Nick Clements

Discussion  - 
 
FDIC has given Ally Bank the green light: they can now use deposits to make auto loans to people with scores as low as 620. 
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help de business need,2grow
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Nick Clements

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Attention small business owners: follow these 6 tips to make sure you can get the best small business loans. 
Small businesses provide 55% of all jobs, and 66% of all net new jobs since the 1970s. Although access to credit remains vital to small businesses across the country, obtaining credit became increasingly difficult after the 2008 financial crisis. Small businesses now have many more options to obtain loans, thanks to the [...]
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People
In his circles
189 people
Have him in circles
148 people
Nick King's profile photo
Martin Scherrer's profile photo
Lucinda Webster's profile photo
Evgeny Bashkurov's profile photo
Michael Abramson's profile photo
Kate Dore (Cashville Skyline)'s profile photo
Pramod Upadhyay's profile photo
Christopher Korsh's profile photo
eunice mensah's profile photo
Work
Occupation
With nearly 15 years in banking - I am now focused on helping people save money.
Skills
Personal Finance, Credit Cards, Risk Management
Employment
  • MagnifyMoney.com
    Co-founder, 2013 - present
  • Barclaycard
    Managing Director, 2010 - 2013
    Ran Barclaycard UK - the #1 credit card issuer in England.
  • Citigroup
    Director of Risk Management, 2009 - 2010
    Risk Director of Western Europe; Risk Oversight of US Cards Business
  • Brysam Global Partners
    Vice President, 2007 - 2009
    Financial services private equity fund that invested in emerging market banks and credit card companies.
  • Citigroup
    Country Risk Director, 2005 - 2007
    Director of Credit Risk Management for the Russian consumer business.
Places
Map of the places this user has livedMap of the places this user has livedMap of the places this user has lived
Currently
New York, NY 10024
Previously
London SW7 2PE, United Kingdom - Moscow, Russia - Manchester, England - Zurich, Switzerland - Florence, Italy - Laguna Niguel, CA
Links
Other profiles
Contributor to
Links
Story
Tagline
I want to help you cut your costs without cutting your lifestyle. My dreams in life: cheaper banking, easier budgeting, more dogs adopted, anything Italian and good conversations with friends.
Introduction
I am the co-founder of MagnifyMoney.com - a website on a mission to make it easy to cut costs without cutting back on your lifestyle.  Interest rates on credit cards are too high.  Fees on bank accounts are too high. We will help you find better deals.  

A 15 year veteran of the banking industry, I am an outspoken expert - fighting for more transparency, greater competition and simpler products.  

I have been married for 8 years and have 2 dogs (rescued from Russia).  My ancestors came from Sicily, and I love anything Italian (the wine, the language, the opera, the food and especially the people).  

You will find me writing about banking, savings, dogs and anything Italian.  
Bragging rights
I have 2 rescue dogs (Goofski and Beatrice) who have lived in Moscow, London and now New York!
Education
  • Stanford University
    1996 - 2000
Basic Information
Gender
Male