Tuesday, August 02, 2005

Quicken or Money?

I have become a walking calculator. Gone are the days of blissful ignorance when I could justify paying for a $965 handbag as an investment in my wardrobe. Now I reach for a cup of coffee at Starbuck's and immediately start a monologue in my head.. "how much have I spent today? Do I need this cup of coffee right now? How much will $2.50 invested in the stock market become in 40 yrs?" hmm... Weird but effective I suppose if it helps me curb spending but sometimes I just get a headache from all that mental math. So I am thinking I need a personal finance software. Having never used either, I read up the reviews on both Quicken and MS Money but am no closer to making my decision. The masses seem split somewhere down the middle. Very democratic but where does that leave me? So come on readers (all 2 of you) help me out - tell me which you prefer, Quicken or Money, and why.

ps: Doesn't have to be Quicken or Money. If you know of any other software or service that works the same way, please let me know.


At 8/02/2005 11:09 AM, Blogger Karen said...

I use Quicken and my life depends on it... financially anyway. However, I really only use it to 'balance my checkbook' - meaning I don't use it so much for the charts, etc. I haven't used Money but imagine it's the same. If you want this just for tracking how much money you have, an Excel spreadsheet works just as well. I would of course favor Quicken just because that is what I use, but my opinion is biased :)

At 8/02/2005 11:25 AM, Blogger Madame X said...

What I love is being able to enter daily cash transactions into Pocket Quicken on my Palm, and then have it synchronize with desktop QUicken on my Mac. Then I download my credit card transactions, and a lot of banks offer direct downloads of your transactions too, though I think some charge for it.
One of the other blogs posted a comparison chart of download compatiblity for some major banks for both Quicken and MS Money, did you see that?

At 8/02/2005 12:24 PM, Blogger mmb said...

Quicken - 2
Money - 0

Madame X, no I missed the Quicken and MS Money post. Do you remember whose blog it was?

At 8/02/2005 9:08 PM, Anonymous sixpack said...

I like Quicken. I've used it for 7 years now. It's easy to setup online transactions for sync up.

I'm not a fan of Bill Gates, so no Money recommendation here.

At 8/03/2005 6:38 AM, Anonymous FMF said...

I've used Quicken for years (and still do), but if I was to start from scratch, I think I'd go woth Money. Quicken is too clunky with some transactions. Money may be worse, but I'd be willing to roll the dice.

At 8/03/2005 10:53 AM, Anonymous Greg B. said...

Money user here. Not out of preference, but because that is the application that came preinstalled on my computer. I have no complaints about the functionallity, but when it comes time to upgrade, I'll be looking not only for ease of entry (currently pretty good), but also improved budgeting and reporting capabilities.

I read on a MS Money package that it was the 'new standard for personal finance'. You might check out some reviews in PC Magazine.

Finally I'd say it's more important to use one or the other than it is to decide, ultimately which is 'best'.

At 8/03/2005 11:51 AM, Blogger mmb said...

Thanks everyone. I decided to go ahead and download both Money and Quicken (yeah, I don't do anything half way :) and test-drive them. Money has a free 90-day trial download for 2006 deluxe and Quicken has a 60-day money back guarantee. I put them on two different computers so I can compare. I am looking for something that's relatively simple to use, provides good online connection to all my accounts and something I can access from anywhere (love the Palm-Quicken sync feature). I will evaluate both for the next 30 days and then decide which one to keep.

At 8/04/2005 8:47 AM, Blogger Madame X said...

I found that link:
Consumerism Commentary bank comparison

At 8/04/2005 8:48 AM, Blogger Madame X said...

Oh, and just to clarify, that Pocket Quicken is sold separately from the desktop version..


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