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Need advice on what money software to use after January RRS feed

  • Question

  • I have been using Money since 2004. I am currently using the latest version of Money Plus Deluxe. I download my transactions daily from several credit cards and my bank accounts. I do not do this manually as I have more than 200 transactions in a week's time since everything my family buys is on credit card as I earn cashback and free points for travel.   I do balance my accounts and use Bill Payment and Cash Flow features daily. I only send three or four payments through Bill Pay, so I could live without that feature and send payments through my bank account. However, I MUST have a way to download transactions and have a Bill Pay and Cash Flow feature. I do not use any other Money Features (stocks, news, etc).

    I have read a few recent posts, but am only confused more. There seems to be a lot of options and a lot of thigns people are doing. I wish I could continue to use Money forever and have these features. Is there any way possible to do this?

    If not, should I switch to Quicken or is there a better alterantive?  I guess I'm asking what are most people doing?

    Thanks for any advise.

    Sharon

    Sunday, November 28, 2010 7:08 PM

All replies

  • I switched to Quicken and recommend it.  It took me a while to get used to it, but I actually like it better than Money now.
    Sunday, November 28, 2010 9:05 PM
  • My problem with Quicken is that there is no easy way to reconcile batch check deposits with the individual checks that I have already entered in my check register. Money allows me to do this easily but with Quicken I have to set up an intermediate account and effectively double enter info. 

    Is there any other software out there that supports batch reconciliation against individual items?

     

    Tuesday, November 30, 2010 5:16 PM
  • Thanks for your replies. I meant to say that I have been using Money since 1994 (not 2004)!!  I have over 75 accounts, some which are now closed, but the previous transactions affect open accounts. When I convert will all my accounts and transactions between them stay intact? Will my balances remain the same? This worries me the most.

    I have way too many payees. And plenty of categories and subcategories and reports. Do these all convert correctly?

    Any recommendations on what I should "clean up" BEFORE I convert?

    Thanks for any tips. The things mentioned above are things I had problems with in previous years when I had to reestablish corrupt Money files and so I hope that these aren't issues in a conversion.

    Sharon

    Sunday, December 5, 2010 11:44 PM
  • On Sun, 28 Nov 2010 19:08:13 +0000, srhodes wrote:
     
    >
    >
    >I have been using Money since 2004. I am currently using the latest version of Money Plus Deluxe. I download my transactions daily from several credit cards and my bank accounts. I do not do this manually as I have more than 200 transactions in a week's time since everything my family buys is on credit card as I earn cashback and free points for travel.   I do balance my accounts and use Bill Payment and Cash Flow features daily. I only send three or four payments through Bill Pay, so I could live without that feature and send payments through my bank account. However, I MUST have a way to download transactions and have a Bill Pay and Cash Flow feature. I do not use any other Money Features (stocks, news, etc).
    >
    >I have read a few recent posts, but am only confused more. There seems to be a lot of options and a lot of thigns people are doing. I wish I could continue to use Money forever and have these features. Is there any way possible to do this?
    >
    >If not, should I switch to Quicken or is there a better alterantive?  I guess I'm asking what are most people doing?
    >
    >Thanks for any advise.
    >
    >Sharon
     
    I plan to continue to use Money and use the Python Scripts to download
    my data.
     
    I will switch over to the Python scripts sometime in January; and I
    have a copy of the Sunset version for when I have to reinstall but
    activation no longer works.
     

    Ron
    Monday, December 6, 2010 1:19 AM
  • srhodes,

     

    Sunset Money works just fine . It's hardly an inconvenience to hit a phython linked icon to get all your stock quotes imported automatically.

    Do your financial institutions offer OFX downloads? If so they can be loaded into Sunset also. Once Money is offline for everyone I'm also expecting the update solutions to get better.

    Sunset Money is still far more feature rich than quicken...And it's free!

    Tuesday, December 7, 2010 4:20 PM
  • No, unfortunely my bank ONLY offers .csv downloads. Thanks for the info though. This is helpful to know.

    Saturday, December 18, 2010 3:33 PM
  • I just switched to Quicken 2011 Premier and it's so buggy that I'm not going to continue with it.  Worst piece of software I've seen in many years.  Froze my system up three times after intalling and the only way to recover is the power switch.  Terrible software and I would recommend it only to my worst enemy.
    Thursday, December 23, 2010 10:54 PM
  • Thanks for your replies. I meant to say that I have been using Money since 1994 (not 2004)!!  I have over 75 accounts, some which are now closed, but the previous transactions affect open accounts. When I convert will all my accounts and transactions between them stay intact? Will my balances remain the same? This worries me the most.

    I have way too many payees. And plenty of categories and subcategories and reports. Do these all convert correctly?

    Any recommendations on what I should "clean up" BEFORE I convert?


    .

    I suspect you mean to convert to Quicken.

    See http://social.microsoft.com/Forums/en-US/money/thread/4bfee4ae-c764-4d9a-bd8d-b9afcf515839 for some info.

     

    Friday, December 24, 2010 12:28 AM
    Moderator
  • Is there a comparison somewhere of the Sunset versions to the other versions?  I'm using Money 2007 and don't know if there's any new features or anything I'd gain by going to the sunset version or if I'm better off just sticking with 2007...
    Saturday, January 1, 2011 8:22 PM
  • Is there a comparison somewhere of the Sunset versions to the other versions?  I'm using Money 2007 and don't know if there's any new features or anything I'd gain by going to the sunset version or if I'm better off just sticking with 2007...

    Differences from Money 2007 are subtle.


    Money Plus Deluxe, including Sunset, fixed a bug from Money 2007 and
    before.  It can write to drives with more than 2 GB of space
    remaining, and the setting for the number of scheduled backups to
    retain is honored.

    It also fixed a bit of a Money 2007 bug regarding entering spinoffs.

    Even if you want to keep using your current installation, you
    should download an keep the Money Plus Sunset installation file in
    case you have a problem reinstalling your current version later.

    Saturday, January 1, 2011 8:35 PM
    Moderator
  • I had problem with downloaded statements from one of the financial institutions, so I had to solve the problem by using an external program to convert the downloaded file before importing into Microsoft Money (mine is 2007 Deluxe). That gave me an idea about the impending doom in another month. Does anybody know of a program that can import financial quotes into Money? I am not exactly a programmer, but the program can check Money to obtain a list of quotes needed, then grab quotes from Yahoo or Google, and import that into Money, as though Money is getting quotes from the server.
    Monday, January 3, 2011 10:21 PM
  • I highly recommend everyone go check out Mint.com

     

    It's free and completely automated.  Mint logs into your bank's website for you and pulls in all the transactions.  Has standard budgeting by category like Money can't do.  I've been using it just for a couple days and it took about 5 minutes to set up and it works great.

    Monday, January 3, 2011 10:24 PM
  • I highly recommend everyone go check out Mint.com

     

    It's free and completely automated.  Mint logs into your bank's website for you and pulls in all the transactions.  Has standard budgeting by category like Money can't do.  I've been using it just for a couple days and it took about 5 minutes to set up and it works great.


    You understand that with Mint you provide your login credentials to somebody who has somebody log in as you and screen scrape your data. It can be useful. They promise security and privacy. The people with access to your info are said to have gone thru background  checks. http://www.mint.com/how-it-works/security/ is the info they provide to you. However if you were to read the presentations that they present to potential advertisers, you might see a different side.

    With access to your financial data, they can sell ads that are targeted to people with a particular financial situation. It seems to me that when you then click on one of those ads, the advertiser will be able to make inferences as to your finances. The advertisers like the targeted ads, and they gladly pay a premium. I don't want to be a target, myself.

    Money used with the MoneySense or similar scripts will leave your aggregated data on your own computer. Each of your financial institutions will have their own piece of your info. Only you hold the summation.

    Tuesday, January 4, 2011 3:57 AM
    Moderator
  • I absolutely share Cal Learner's concern on privacy. I am not so much worried about statements from financial institutions, as I already import them on my own. I hope to continue to use Money to track my portfolio, which is going to be a big problem without any future quote updates. Is it possible to update quotes in Money by importing from Excel spreadsheet? It's quite easy to gather quotes into Excel.
    Wednesday, January 5, 2011 11:58 PM
  • With access to your financial data, they can sell ads that are targeted to people with a particular financial situation. It seems to me that when you then click on one of those ads, the advertiser will be able to make inferences as to your finances.

    What you say is surely true at some level. But here's the deal.

    Some advertiser says "I'll pay $x for each time you show my ad for Brand X beer to people who spent more than $y per month on Food:Beer". So you fit the criteria and the show you the ad. IF the advertiser is told nothing about YOU until you click their ad--and then they can assume you were able click it simply because you met the $y per month on Food:Beer criteria--YOU STILL CLICKED THE AD. And, at some level, if they're selling beer and you click on an ad for beer, they already had a reasonable basis to guess you might be interested in beer so adding the data point that you are actually $y per month interested is just a change in degree not kind. I'm not in love with that but it is essentially how everything on the web is getting done these days because the global "all of us" want everything "free" so advertisers are footing the bill and they are more willing to foot the bill when they can better target the eyeballs they are buying access to.

    IF, on the other hand. the guy with my data tells that advertiser "hey, here's my user Z who meets your criteria and here's other stuff you might want to know about him and here's the UUID that's planted in cookie C we all share so that you can spot him elsewhere out in the Wild World Web" that's a whole other ballgame.

    I suspect today they are mostly doing stuff that looks like the former. The thing that worries me a lot more is that there is little that precludes them from doing stuff that looks more like the latter in the future.

    Thursday, January 6, 2011 4:14 AM
    Moderator
  • Nobody has done a tool to get here from spreadsheets but there are tools in development and in the wild that get there more directly from quote sources to .OFX files to Money. A number of threads deal with these choices.

    Thursday, January 6, 2011 4:17 AM
    Moderator
  • I searched the forum but could not locate any of the threads. Could I trouble you to post the link to the threads? Thanks very much.
    Friday, January 7, 2011 1:07 AM
  • I searched the forum but could not locate any of the threads. Could I trouble you to post the link to the threads? Thanks very much.


    PocketSense is the most commonly used program to get today's quotes for several securities into an OFX file that can be fed into Money. It does not attempt to get quotes for multiple past days.

    The Python source is provided.

    Also note that many brokers include the closing prices in their OFX files. So if your broker does this, the securities held at that broker don't really have to be listed in the setup file for PocketSense to get those quotes.

    Friday, January 7, 2011 1:12 AM
    Moderator