Quicken, MS Money, or....?

**Michelle** · 07-31-2008, 08:02 AM

What do you use for software? I am currently using Excel for our budget but am considering an upgrade. It seems like those programs would be more helpful.

Anyone use software designed to manage money (vs. Excel)?

Pro's/Con's?

**nodmicks** · 07-31-2008, 08:22 AM

I'm curious to see the replies. We got a new computer and had to upgrade from Money 2004 to the new version. I totally can not get it!

**staciah** · 07-31-2008, 08:36 AM

I use MS Money. Can't live without it.

**Russ** · 07-31-2008, 08:45 AM

Quicken user for a looooong time but I don't think you can go wrong with either one really. The key is to set it up right from the beginning. Take your time, set up all your categories and accts properly and you will love using it.
It sure makes balancing the checkbook a whole lot easier.

**Russ** · 07-31-2008, 09:08 AM

Just wanted to add... Don't wait 3 months to enter your data like the king of procrastination does.

**Greebo** · 07-31-2008, 09:19 AM

I use Quicken religiously. I don't know if MS Money is better or worse, I just started with Quicken.

The trick with Quicken is to start simple, and from where you are now. Start with just putting in your last statement balance from one account plus all outstanding checks. Then get in the habit of putting everything that happens with that account into Quicken.

As you gain proficiency, start adding more accounts. Eventually you can track 401ks, loans, etc..

Don't hesitate to try new things - just do them in new accounts in Quicken, and when you mess them up, delete the account completely and try again.

Excel for tracking personal finance? No thanks - too open ended.

**IntlMom** · 07-31-2008, 09:35 AM

tried them all.....I can't seem to "wrap my brain around them"
I guess I'm old fashioned where that's concerned, I still need to see it all on paper (well, IF I had a budget, that is!! )

**VanVivCam** · 07-31-2008, 09:38 AM

I also use Quicken. I don't know anything about MS Money. You can download your bank info thru quicken and this makes it a breeze to keep your checkbook balanced.

Good Luck in your decision making. I am sure you will LOVE anything better than just using excel (which is fine).

**Grandma Lewis** · 07-31-2008, 10:22 AM

I've been using Quicken since it first came out. I even track the cash we spend out of pocket. It's a challenge to see how close I can track to the penny for a whole year of ATM withdrawals. By saving and entering every receipt I usually can get within 200.00. Not bad considering there are two people making ATM withdrawals.

However, I don't like to download the transactions from the bank. Quicken wants to categorize them for me based on historical data and well last week's purchase at Wal-mart may have been for yard supplies and this week purchase may have been clothing. It can mess it up in a hurry if you let it.

But give it a try, I think you will be pleased.

**savvymom** · 07-31-2008, 10:33 AM

I have been using Excel as well, however, I just downloaded MS Money. The detail in the beginning I think is important so I'm still entering data. It's user friendly, IMO, but I am still learning it too. I am able to pay bills online through MS Money and my bank account. I don't know that I will take that option, but I guess time will tell. I think either program would be helpful, good luck with your decision!

**Michelle** · 07-31-2008, 12:39 PM

Originally Posted by Greebo

Excel for tracking personal finance? No thanks - too open ended.

How so?

It's worked fine for me for several years. I am just looking for more automation and information.

**lisettelovebug** · 07-31-2008, 12:45 PM

I use excel for planning out my budget, keeping track of snowballing and how much debt I owe and anything else I can think of to use excel for (I'm really good at using it and have several different workbooks with worksheets for everything from finances to our house hunt / building). I also use Money, mostly as a check register though. I also like it because it keeps track of my investments in Roth IRA and can give me reports/charts on my spending. It's also easy to search and see how much I've paid to a certain bill. OOh. I also like Money because I have all my bills automatically set up in there so they go in the register a day or two before my bank sends them.

**lwlynch** · 07-31-2008, 12:57 PM

love my ms money.. have used it for the last 9 years.. i love keeping track of stuff..

**staciah** · 07-31-2008, 01:09 PM

MS Money does all the same things that Quicken does. Sounds like both programs are very much the same. I don't think you will go wrong with either program. Good Luck.

**NMMatt** · 07-31-2008, 01:10 PM

I use MS Money and love it. My only minor quibble is that I haven't figured out how to have it track money that moves in or out of a budget account to another account as a specific budget category.