computer finance programs

[cindyg86]

Hey! I am really working on getting my finances in order and am looking for computer finance programs to help with that.

My friend uses Quicken and has nothing but good things to say about it so I am looking at that.

But I want to get other opinions, either on Quicken or other programs that you like better.

If you can enlighten me, that'd be great! And ps, I have a Mac so keep that in mind as some programs may not work on Macs.

Thanks!

[cooliemae]

Quicken is a great program. I've been using Quicken Deluxe for almost 5 years now and can't complain. The only advice I can provide is to make sure you get the version of Quicken that suits your needs (i.e. deluxe, premiere, etc.).

[poundwise]

I have a Mac so keep that in mind as some programs may not work on Macs.

The only advice I can provide is to make sure you get the version of Quicken that suits your needs (i.e. deluxe, premiere, etc.).

The OP stated that they have a Mac, which means they need Quicken for Mac (one product choice). Fortunately, Quicken for Mac is most like Quicken Premier in terms of features anyway. I have a PC and use Quicken Premier and, although I don't use all the features/tools, I like it very much.

[poundwise]

You may also want to review Moneydance and Budget.

Also YNAB Pro is supposed to release a Mac version sometime soon. link

[skydivingchic]

I use Mvelopes and absolutely love it. I've had it for a little over a year now and it is by far the best thing that has ever happened to my personal finances. Mvelopes is a subscription service, and some people can't fathom paying money every month for a budgeting program. However, at least for me, it has more than paid for itself in getting the CC paid off once and for all and keeping me from overspending. I can't say whether it is better than Quicken, as I've never used Quicken, but I can tell you that Mvelopes fits exactly with how I need/want to handle my spending and saving.

[FrugalIII]

I have been using Quicken since 1995. I absolutely love it. But, I haven't used any of the others to compare. My finances are fairly complex and Quicken does a great job with them. I'd recommend it to anyone, whether your finances are simple or complex.

[tripods68]

Don't you have to upgrade every year to use Quicken, correct me if i'm wrong?

[geojen]

I have been using quicken for years and love it. No, you don't have to upgrade every year if you don't want to. I voluntarily upgraded to quicken 2008 this year and like a lot of the new features.

[saversaba08]

Cindyg86, I use MS Money and am quite happy with it, but I guess in your case that is neither here nor there

[Spud]

Don't you have to upgrade every year to use Quicken, correct me if i'm wrong?

Well, sort of. Quicken has a "Sunset Policy" where they no longer support products that are x (3, I think?) years old. So if you want to keep getting customer support, patches, etc., then you should re-buy Quicken once your version has been sunsetted. But honestly, so many improvements will probably have been made in that time that you'll want to do it anyway.


OP - I have used both Quicken for Mac and quicken for Windows. Quicken for Windows is a FAR superior product. The mac version has been left in the dust a long time ago (which is why we dumped it in favor of the windows version -- we have both a mac and a PC in the house). Quicken for Mac is not a bad program, but it's very annoying that they couldn't deliver parallel programs instead of a premium program and an also-ran. :/ In any case, please be sure that you are hearing raves about the product on the platform you are using.

One thing that neither Quicken does, which apparently a lot of people wish it did - is envelope accounting. If that is the way you do your finances, either version of Quicken is not for you.

[Hypersion]

I use yodlee and an excel spreadsheet.

[HNorton]

Mint.com and wesabe.com are good also.

[FrugalIII]

Regarding Spud's comment on envelope accounting. If I am correct in the definition of this, I do something similar with Quicken. I have a number of "savings goals" set up in quicken for my larger expenses (mortgage, car payment, yearly tax bill, vacation planning etc.). Each time I get a paycheck, automatically a predetermined amount goes into the appropriate "savings goal" account from my checking account, subtracting the amount from my checking account balance. When the bill is due, I simply transfer the money from the "savings goal" account back into my checking account and pay the bill. I think that is kinda like the theory behind the envelope accounting method. I've been using it for years and it works great. I hope it doesn't sound too confusing because it's really simple.

[geojen]

Regarding Spud's comment on envelope accounting. If I am correct in the definition of this, I do something similar with Quicken. I have a number of "savings goals" set up in quicken for my larger expenses (mortgage, car payment, yearly tax bill, vacation planning etc.). Each time I get a paycheck, automatically a predetermined amount goes into the appropriate "savings goal" account from my checking account, subtracting the amount from my checking account balance. When the bill is due, I simply transfer the money from the "savings goal" account back into my checking account and pay the bill. I think that is kinda like the theory behind the envelope accounting method. I've been using it for years and it works great. I hope it doesn't sound too confusing because it's really simple.

How do you do this? I would love to set this up in Quicken. Right now, I do the same thing but just deduct from my checking account. Ex: I "spend" 40 dollars a week for Xmas. So i end up with 40-some "xmas savings" checks in the checking account. Kinda annoying, but it works.

[FrugalIII]

It's been a while since I set one up but try this. Go into account setup and start a new account. Name it "christmas savings" with a zero balance. Then go into your scheduled transactions set up and set up a transfer weekly in the amount you choose, from checking to "christmas savings". You can set the transfer up to go automatically or prompt you when it is due for you to manually enter. I think that will work for you. When you need to use the money, transfer it back into your checking account. The "christmas savings" is really a phantom account, not a real life one. But the principal is the same. Also you could go into the help menu and type in "savings goal" and it will tell you more. It's been working for me since 1995. I use 4 or 5 different ones now for such things. When you don't need it anymore, you can either hide it (what I do) or delete it. If you just hide it you can go back later and see the historical data if you choose. Good luck.