Quicken or MS Money?

  Orchid7 08:42 23 Oct 2004
Locked

I have a very old version of Quicken for personal finance and was planning to upgrade, but I've read some terrible reviews of Quicken HG and wonder about giving MS Money a go.

Any thoughts?

  spuds 11:43 23 Oct 2004

Horses for courses as they say.I have used Quicken's for sometime now, and the product as given me the results that I required,but as you state, the latest reviews are not very praise worthy.I like you have reservations as to the next upgrade, and it would be interested to have the views of someone using the latest products.

  Sir Radfordin 12:53 23 Oct 2004

Have been using MS Money for several years and don't have any problems with it, but then don't think I really do anything too demanding. Like spuds says it is likely to be horses for courses, some thing you'll like will be in Quicken and not money and vice versa.

  pj123 17:53 23 Oct 2004

I am still using Quicken 3 (floppy disks). It does everything I want it to do so I don't see any point in upgrading/changing to something else.

  oresome 19:58 23 Oct 2004

I use Money 2002.

Bank statements can be downloaded straight into the program and share prices and unit trust prices can be updated in seconds. A real time saver.

No experience of Quicken, but happy enough with Money, but my requirements are not demanding.

  LastChip 21:55 23 Oct 2004

You really have to ask yourself, "why do I want to up-grade"?

The personal finance scene hasn't changed in donkeys years, so if your existing version does all you want, why change?

Personally, I use Quicken 2000, which was a free up-grade from Quicken (something else) due to potential Year 2000 bugs, and have I never seen any useful reason to use anything else.

If you have good reason, then establish what you want out of the program, and research the market leaders to see if their offerings satisfy your needs.

I rather suspect, there will be little to choose between them.

  ajm 22:30 23 Oct 2004

I use Quicken 2002 and it does everything for me.

Do not upgrade to the latest version as i read somewhere that it is a subsacription based and you need to pay once your year is up.

  Danoh 05:12 24 Oct 2004

and it also connects to banks to download statements for auto-reconciliation as well as stock market data, just as oresome reports his Money 2002 does.

I am unlikely to upgrade as there are more functions I have not and am unlikely not to use either, and am very happy with the basic financial accounting I need.

  Orchid7 09:21 24 Oct 2004

Thanks for the advice.

The message seems to be that there is little to choose between Quicken and Money, although the latest version of Quicken is to be avoided. Microsoft are offering 30 day free trial of Money 2004, so I may give that a try.I've never had anything other than Quicken, so I'll probably stick with it in some version or another.

  Sparrowhawk 12:45 25 Oct 2004

Hello,

I have used both.

Quicken 2000 from click here (French version) that worked well.
I had to upgrade to MS Money as Intuit did close its French business.
Quicken XG (UK version)

MS Money Standard 2002 (UK version)
MS Money Premium 2005 (French version)

I still use BOTH Quicken XG (UK version) and MS Money Premium 2005 (French version) as I prefer 2 and not 1 application for following numerous accounts in 2 currencies (EUR accounts in MS Money, GBP accounts in Quicken).

---------------------------------------------
My findings:

1- Irrespective of platforms, what has been added by most recents of these 2 tools in the last 2-3 years is MOSTLY about AUTOMATISATION and INTEGRATION.
Core features are mostly the same between Quicken 2000 or Money 2002 and Quicken XG 2004 and Money 2005.

2- Ask your bank which software they support. They might support both.
Ask the TECHNICAL SUPPORT OF YOUR BANK WHICH ONE THEY RECOMMEND.
You might find that marketing of the bank tells they support both but that technical support tells only one is fully automated for bank statements download.

3- MS Money is the MOST INTEGRATED with WINDOWS, AUTOMATED and INTEGRATED with BANKS.

Then comes question of TRUST:

3.1- (Example in my case of integration with banks):
Do you prefer to have a SEMI-AUTOMATED IMPORT of bank statements with Quicken ((1)import from bank on your PC and (2) load into Quicken).
or a FULLY AUTOMATED IMPORT with MS Money?

3.2- (Example of integration with MSN Passort):
MS Money constantly proposes you to use a MSN Passport to retrieve all your details from the net.

3.3- (Example of integration with Windows):
When I did start MS Money French version on my UK laptop, it did recognise my Windows Regional settings and therefore GBP.
I had to change my regional settings to EUR.

My opinion would be to say that MS Money is MORE INTEGRATED than Quicken but maybe TOO MUCH for a FINANCIAL APPLICATION.

It's a personal thing.


---------------------------------------------
What I do:

I use Quicken XG for GBP accounts in semi-automated mode for downloading bank statements.

I use MS Money 2005 for EUR accounts and never logs with MSN Passport.
I changed my MS Money password to one different from my MSN Passport (used to be the same, so I did finish inadvertently to log into my MSN Passport with my MS Money).

If I had to buy 1 of these 2 applications, for the UK only, I would chose Quicken.

Quicken is specialised in Personal Finances, has a good record.
But Quicken has not the same international business as MS, which might be an issue for people with bank accounts everywhere.

Hope this helps,

  Sparrowhawk 12:52 25 Oct 2004

Attn to PDA users:

If you want to follow your accounts, on your PDA...

Palm users: Go for QUICKEN as a FREE version of Pocket Quicken for Palm is included (at least in XG version). Pocket Quicken for PPC would have to be purchased separately at an additional cost.

Pocket PC users: Go for MS Money as the Pocket PC version is FREE.
Please note Pocket Money follows only 1 currency.

I run both Pocket Quicken and Pocket Money, each one synchronizing in only 1 currency, in line with their parent PC application.

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