5 Great Features Of Moneydance Personal Finance Software

When I write about Moneydance I’m surprised by the number of people who have never heard of this personal finance software. However, Moneydance has some very good features that makes it a product to consider.

  1. The price – When shopping for financial software you will notice that these items can be expensive. Keep in mind your best bet is to buy something that only has a one time purchase price instead of something with a monthly fee. I’m amazed by the number of people who pay $5-$8 per month for a personal finance software. Those monthly fees add up quickly. In addition, Moneydance, which costs $49.99, does not require upgrades on a regular interval (contrary to a product like Quicken which will remove your online downloading capability after about three years).
  2. Ease of access. As a former Quicken user I can attest that Moneydance has a much cleaner interface. Quicken has so many tools and resources that you can easily feel overwhelmed. While Moneydance does not have as many features they have everything that most people need without getting to much to overwhelm people.
  3. Password security. Depending on your security preferences you can chose to have Moneydance store your password or you can manually enter it each time. This gives you a way to protect your password if you are concerned about password security.
  4. Forums. Some personal finance software is great, until you have a problem. I’ve had numerous times with other software where I couldn’t get any reasonable assistance with compatibility or tech issues. With Moneydance there are active forums and staff who monitor comments. If you have a question or issue it will be addressed.
  5. Customize with extensions. You can add personalized features to your program by adding free extensions to your program. That include anything from a credit card down payment calculator to a stock quote auto sync feature.

Personal Finance Software Review of Quicken Product Offerings

In this article I would like to conduct a personal finance software review of the Quicken product offerings designed for personal use. There are several personal finance software products on the market that do wonderful jobs of helping families manage their finances, but I am most familiar with Quicken as I have been a user of its products for over eight years. I have been completely satisfied with the features Quicken provides and would like to review and compare the benefits that its product offerings deliver.

Quicken Starter Edition

Formerly known as Quicken Basic, the Quicken Starter Edition is an excellent solution for individuals who will be using personal finance software for the first time. The three main features the Quicken Starter Edition delivers are: (1) balancing of your checkbook electronically, (2) tracking how you spend your money by being able to categorize purchases, and (3) monitoring and updating all your investment and banking accounts in one place. It basically provides a “one-stop shop” for all of your personal finance concerns.

Quicken Deluxe

Although the Quicken Starter Edition is a fantastic product, I believe the average family considering a personal finance software product should start with Quicken Deluxe. The reason is that, in addition to offering all of the features of the Quicken Starter Edition, Quicken Deluxe provides the capability to download banking and investment account transactions automatically. This makes reconciling your checking account, as well as your other accounts, extremely simple. In addition, Quicken Deluxe allows you to create savings goals and track their progress, store statements and records electronically, and plan for a new home, a baby, or retirement. For most families, this is the best place to start.

Quicken Premier

For those families who manage their own investments and require additional tools to monitor and measure their progress, Quicken Premier is the perfect solution. Quicken Premier offers all of the wonderful features from Quicken Deluxe plus several others, including: (1) generating various investment performance reports, (2) analyzing and optimizing your portfolio with special tools, (3) generating Schedule A, B, and D tax reports, and (4) setting investment alerts to notify you when certain conditions are in place. A truly remarkable tool for the do-it-yourself investor!

Quicken Home & Business

The three software solutions above are all excellent choices, but if you own your own business, none of these will be sufficient for the additional monitoring and record keeping required of you. Enter Quicken Home and Business. Though not as powerful a solution as Intuit’s QuickBooks products, it is the perfect choice if you have a small business with no payroll requirements, or especially for a part time business. In addition to providing all of the wonderful features of Quicken Premier, Quicken Home and Business allows: (1) tracking and categorizing of both business and personal expenses, (2) creating customized estimates and invoices, (3) generating profit and loss reports, (4) tracking vehicle mileage and other Schedule C items, and (5) monitoring upcoming bills and unpaid invoices. If you are considering a small part-time business, this solution is perfect to get you started.

In conclusion, Quicken offers a wonderful lineup of products that are designed to meet the varying needs that different families require. This personal finance software review has aimed to provide you with a basic overview of each product to help you decide which solution would be most appropriate for your family. Hopefully this discussion convinces you of the incredible value personal finance software delivers to its users. I can only speak from personal experience.

Best Personal Finance Software – Get the Right One

What’s the best personal finance software to track your money? After all, there are a lot of different products out there now. It can be hard to decide exactly which one is for you.

Fortunately, there are a number of factors you can consider when trying to choose. By the end of this article, you’ll know exactly what to look for to find the best personal finance software.

– Price. You probably want to make sure you get a sweet deal, right? You want to get the best financial software that you can for the cheapest price. Well that’s a great idea, but just make sure you don’t sacrifice quality for cost. You definitely don’t want something too expensive, but if you get the cheapest software, you’ll likely get worse performance too.

– Online reviews. What do people online have to say about this software? Did they love it? Hate it? If you can find some unbiased online reviews, these can really help you decide the best one for your situation. Just be cautious if the “unbiased” review doesn’t have a single bad thing to say about the software. Many times its fine, but sometime they may have a financial motivation to point you toward one particular piece of software.

– Company history. The best personal finance software usually has a very established history. They have thousands of happy customers, been around for a few years, and a sizeable support team. I’m not saying that new companies can’t produce great software – they certainly can! But I am saying to be cautious if the company just sprang out of the ground a few months ago.

– Flexibility. Depending on your needs, you may or may not need a lot of flexibility. Some people own assets in the millions, and need flexible money software to track it. Other people have much smaller portfolios, so the best personal finance software for them doesn’t have to be as complex or flexible.

– Ease of use. Nobody wants to spend all day learning how their money software works! They want to get in, update things, understand what’s going on, and then get out. Try to get software that even a cave man can use!

If you look at each of these different factors, I can almost guarantee you’ll be happy with what you find.