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yet another Microsoft blogger

# Tuesday, August 01, 2006

Money vs Quicken

I'll be blunt. Microsoft Money is the most important application that I use. My entire financial life is in Money. I use practically every feature and been using the product since 1998. I've also upgraded to every money version since I first started using it. However, Money 2005 left a sour taste in my mouth that both Money 2006 and now Money 2007 have not adequately addressed. Money is slow, and my file is now huge at close to 40 MB (which I'm guessing contributes to the slowness). I do not use any of the MSN online features after a DISASTER in 2005 when it completely and utterly devastated my accounts to the point that I had to go back 3 months and re-create my financial picture transaction by transaction. I have about 15 accounts in money that range from checking and credit card to car and house loans. I wasn't joking when I mentioned that each and every penny is accounted for.

Why do I do this? Dunno, habit I guess. I like going to one place to see everything. In doing so I've realized the benefits of having pretty accurate tax withholding, decent portfolio tools and budget tracking.

Anyway, both Money and Quicken are now available in their 2007 versions. I've contemplated the idea of giving Quicken a try (the last time I used Quicken was the Mac versions that I started with in College and stopped using when I installed Money 1999). BTW Money was the main reason I bought a PC to use at home back in 1999.

According to this web site there are 8 new features for personal users. Excuse me? I've also installed Money 2007 and can't tell you what exactly is improved about the Tax Estimator... it still won't do Alternative Minimum Tax or State Tax Estimates. The rest of the features are just not interesting to me.

Now, according to the Quicken website, there are 123 new improvements in Quicken 2007. A quick glance at that list has me going "Yes, Yes, Yes!!!".... oh, these are improvements to Quicken, not Money. Darn. I would pay $50 for the ability to simply attach all my tax documents or other digitized items to transactions.

So, for the first time in close to a decade, I am going to plunk down some Money for Quicken and kick the tires a bit. Making a switch like this is a huge investment in time for me, but I'm simply afraid that what I read in this post by Phil Su 2 years ago is still true today. 

I'll let you know how it goes.

 

Wednesday, August 02, 2006 7:47:06 AM (Pacific Daylight Time, UTC-07:00)
The other thing about Money is the completely brain dead, irritating, confusing, and just plain weird UI. I can't stand it. I think rolling around naked in broken glass would be less painful than using Money's UI. But that's just me. It seems like some graduate students thesis experiment gone horribly wrong...
Wednesday, August 02, 2006 9:15:10 AM (Pacific Daylight Time, UTC-07:00)
Mossberg's impressions: http://ptech.wsj.com/solution.html
SM
Wednesday, August 02, 2006 9:22:26 AM (Pacific Daylight Time, UTC-07:00)
It is too bad Money 2005 was so bad with online/MSN stuff. I was just investigating as I migrated from 2004 and then all my accounts were destroyed or duplicated. It was amazing how bad it was. I also looked at 2007 and I am not sure it is worth anything over 2006. Even the intro movie on the site uses shots of 2006 to show off 2007. Sad.
Wednesday, August 02, 2006 5:07:10 PM (Pacific Daylight Time, UTC-07:00)
Let us know how it goes.

I switched from Quicken to Money a while back, because the version we had was ancientizing, and all the reviews of later versions were incredibly harsh (plus Intuit had just turned off QIF support, which we needed for a stupid 401k provider). Money seems a lot better than Quicken to me (more conventional UI, smoother handling of loan payments, better reporting), and it turned out that Quicken had been making bizarre and inexplicable calculation errors on loans, so I've never thought about switching back.
Sunday, August 06, 2006 10:27:29 AM (Pacific Daylight Time, UTC-07:00)
I used Money 2004 up until a few weeks ago, then switched to Quicken 2006.

The reason for this was the different interface they've introduced with Money 2005 and above. Cheap and annoying web-like interface, everything freakin' blue (I liked the context dependent UI coloring in the older versions), and too much MSN tie-ins all over the place, interfering way too much.

Now I'm running Quicken, which I think is overall more powerful and professional, and most of all, BETTER LOOKING. Naturally, the 2007 release comes out shortly after I start using Quicken. I'm eager to try it, but not too sure about the teal interface, I prefer lighter schemes as in the 2006 release, though the new homepage looks like what I want.
Mario Goebbels
Monday, August 07, 2006 2:07:22 AM (Pacific Daylight Time, UTC-07:00)
Hello,

I have been using MS Money since 2002 and, to be honest, I liked previous versions more rather than 2006 (there is no 2007 for UK). Some things were really irritating - when I could figure out how to find "home inventory", for example. But MS Money does its job very well, I believe. If Quicken says 123 improvements in Quicken 2007, the question is: how many of them are valuable for you? If there only 1 or 2 which make your life easier, than there is no reason to switch to Quicken unless you like its interface more than MS Money one. Anyway, I am looking forward to here your experience :)

Cheers,
Rustam.
Wednesday, August 30, 2006 9:13:39 AM (Pacific Daylight Time, UTC-07:00)
I'm intrigued to find out how you got on?

I've got a sneaky feeling you'll try Quicken and then migrate back to the familiar surroundings of MS Money?
Carl
Friday, September 01, 2006 9:57:35 AM (Pacific Daylight Time, UTC-07:00)
I've been using MS Money since 1994. I've tried Quicken a few times (it came on both of my more recent computers as a freebie) but I've never been comfortable with it, and I couldn't find an efficient way to transfer all my data from Money to Quicken. Like you, I track everything so there's a LOT of data to move over.

However, my latest version of Money is the 2004 business edition (worthless--I had to buy another piece of accounting software when I realized just how badly Money handled business accounting).

I would like to upgrade and I've downloaded and started using the 2007 deluxe version just yesterday, after my 2004 Money file went nuts on me and even my backup was causing Money to crash. The upgrade fixed my file (maybe temporarily--but I sincerely hope not!).

My point is that I've used Money for so long, I'm not sure I could ever be comfortable with another financial program now, but...

I would like to give Quicken another try so be sure to mention what you find when you try it! :-)
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