Quicken VS Money

[Scott Tiger]

Well I've already decided that taking better control of my finances would be a great goal for 2004 and would like some recommendations as to which software package to buy - Money or Quicken.

I've Googled quite a bit to see which package is better but can't find relevant info that's up to date. I'd like to be able to track my online checking account balance and the balance of my retirement account with the software. The two financial institutions I work with support both programs so either will work.

My questions are:

1. Which do you think is the better product?

2. Is there a real advantage to buying the latest version of each product? Will Quicken 2003 work just as well as the 2004 version will or is it like tax software and you have to buy a new version every year?

3. Because I'm looking to keep track of a retirement account it looks like I need to get Quicken Deluxe at a minimum. If I could get the Basic version to do that function it would be great.

My OS is XP Pro. I'd really like to stick with anything other than an MS product to track my finances but am trying to keep an open mind. If you really think Money is the better product I'd like to hear about it. Feel free to ask me any more questions if I've left out any relevant data.

Happy Holidays!

[thePh@r@oh]

i like MSmoney it was easier for me to get use to. i think its all a matter of opinion

[Droppyale]

Quicken here... great product.

[John Prophet]

Without even knowing the specifics I would say this.....support someone besides Microsoft...lol...lets keep some freedom of choice going here...I know that they have tried to put Quickbooks/Quicken out of biz for a while but it is one of the last areas where Msoft doesnt have dominance.....I say go with quicken! lol.

JP

[nomaxim]

I've used Quicken2001 Basic for almost two years now and like it alot.

I'd check with your bank and see what they offer/support. I haven't had to upgrade yet. ( my bank offers a discount on Quicken.)

Basic allows you to keep track of alot, stocks, IRA's and such. The Deluxe is mostly geared towards running a biz.

PS you can also pay to keep records on Quicken.com

[Scott Tiger]

Thanks for the advice guys.


NoMaxim, you can track your stocks and such with the basic version of Quick? That's great news if it's true.

[John Prophet]

"taking better control of my finances would be a great goal for 2004"


I decided the same thing....but I am realizing I dont have many finances to take control of!

[Shifter2101]

i bought my machine not long ago. it came with both quicken and money. i havent even looked at money if that throws any flags up for ya.

[nomaxim]

Scott,
Quicken Basic has options for: Banking(checking and credit cards),Investing,Property, and Loan accounts. You can also schedule bills and other transactions. Quicken won't pay them(bills) itself, but with online banking you can set the bank up to do that.

I don't track my retirement stocks that much as I work for the State of Ohio and they track all that. So I've never really used that opition.

However, I don't see how it would be that hard to run a small biz or your own IRA's with the Basic. You'd have to do some of the tax stuff for payroll and such yourself. Unless you deal with a fixed income, then just set it up once a year.

Heck, I havn't even had a checkbook in two years. or bought stamps except for xmas cards. I do everything online.

Cost to me for all this: $4.95/month bank fees.

[Scott Tiger]

Thanks for the info (again) NoMaxim. It sounds like Quicken Basic is what I need them. The one thing I was sure of was if the Basic version would let me import my retirement statements from Strong. Since beefing up my retirement account is something I really want to start putting more effort into I really want to be able to see that info when I start working with my budget. Out of sight is out of mind when it comes to things like that.

I appreciate everyone's feedback and would be willing to entertain any other thoughts anyone has.

Happy Holidays!

-Scott