Reply: 1
From: Sim' Hampel
On 6/6/02 6:57:00 PM, Anonymous wrote:
>Hi All,
>
>Just wondering if I could hear
>some recommendations on what
>is the best personal finance
>tracking software.
They're all (all ? umm... both !) pretty much on a par these days.
>I have started to play with
>Microsoft Money 2000 standard,
>but I've heard that Quicken
>might be better.
My opinion as a 10 year Quicken user, is that Quicken is still more powerful, but not by much any more - Microsoft have had plenty of time to add features to catch up.
Money seems to be much easier for people to start out with, due to it's familiar interface (as with most things Microsoft) and it's good wizards which really help you get started.
>Does anyone have any opinions?
>Is Quicken better?
Quicken does almost everything I need. The major things I would like changed in Quicken are not actually in Money anyway, so I stick with what I know.
I don't think you will go much wrong either way.
>Is MS Money
>2002 significantly better than
>2000?
Don't know enough of the details of each to comment.
>Is Quicken Personal Plus
>much better than Personal?
Mmm... I wouldn't say "much better", but there are features in Personal Plus which I like, so that's what I use. Look on the Quicken website for a comparison of the versions. If you don't understand the features they mention, post and I'll explain them to you.
Like I said, both products are very mature now and work really well for what they are... personal finance management tools.
The one bit of advice I give to everyone who asks about this stuff (and many who don't ask !!), is that a tool like this is only as good as the data you enter into it. If you are lazy and will lose interest and not keep it up to date, I'd save your dollars... you really won't get much from these products that internet banking can't give you.
If you are the anally retentive record keeping type (like me !) then you will find an impressive tool (either product) which can really help you with your financial planning, tax reporting and day to day expense management.
I know plenty of people who manage their finances by the balance printed on the ATM transaction record. Being a control freak, I could not imagine not knowing exactly what money is coming in, and exactly what money will be going out on a day to day basis.
Just my opinions ;-)