financial software

flibberty jibbit · 01-04-2008, 08:11 AM

One of my resolutions this year is to get not only my finances sorted but to also start saving aggressively. I'd like to use software but when I looked into buying some it all seemed like so much more than I need. Or maybe it's that I need a load of features that I don't even realize yet.

My questions - what do you use and why? Have you used other programs and why did you stop using them in favour of another system?

TIA!

~J

The Honest Dollar · 01-04-2008, 06:02 PM

I bought Quicken because so many people thought it was the shiznit, but I absolutely hate it half the time. I still use it to track my net worth, but I had to "hack" it with some dummy accounts.

One tech tool I LOVE is Mint.com. If you don't want all the bells and whistles and just need something to track your spending habits and help you budget, Mint is perfect. It automatically pulls info from your credit card and bank accounts, helps you categorize transactions, and offers a bunch of different graphs and charts to analyze your spending. It's a great tool if you want to see where you're leaking money and where you can shore up and save more. It's also pretty secure, since it basically takes a picture of your accounts and doesn't save any access information for hackers to get into. It never even asks you for your real name!

(Full disclosure: I don't get anything out of promoting Mint.com. I just think it's phenomenal!)

Jess · 01-04-2008, 08:17 PM

I used to use Excel, if you can call that "financial software," but I really like the simplicity of Yodlee MoneyCenter*. I tried Mint, and while it works for most, I didn't think it was quite what I wanted. Gnu Cash is also a great tool, I hear.

* If you're interested in Yodlee, there are a few things I love - you can add bills, checking and savings accounts, and investment accounts to your account so you can track everything on one page. Also, with a few simple clicks I can see my recent transactions, all properly labeled (unlike most other money-tracking websites), my networth (a more simplified version than NetworthIQ), and spending reports. Also, there are a huge variety of alerts that you can request to be placed on each individual account, which can be helpful if you like those.

I just checked Google Reader, and either Consumerist or Lifehacker just posted about Buxfer, and how with Google Gears it might now be possible to store all of your personal data on your computer, not via the Internet, which might make it a "safer" alternative if you're worried about your personal information.

Rebecca · 01-05-2008, 08:33 AM

I used Quicken for a little while, but it just was a little too much for me. Also, at the time my bank wouldn't auctomatically download to Quicken, so that made it really inconvenient.

Then, for the next 5 years I just decided to be blissfully ignorant of my spending, which leads me to my current situation.

I stumbled upon mint.com and decided to try it. That's when I first realized how bad my siutation was. So, I guess for that reason (it's also really cool), I love Mint.

summrs1 · 01-05-2008, 11:22 AM

I use a combination of MS Money and Excel. Because of the way I budget, I can't use just Money, so I also use Excel. I'm probably a little over the top compared to most, but it does the trick for me.

To just do a simple budget and tracking, I would think Excel (or other spreadsheet) would do the trick and give you the most flexibility.

Good Luck

Gootsy · 01-05-2008, 02:47 PM

This's something I've been meaning to do for a few months.

Back in October I downloaded and installed Gnucash, but after playing with it for a few minutes, I haven't used it since.

I keep track of everything in my head(with help from online banking), which isn't the smartest thing to do, I know. But by doing this, it forces me to keep things simple so that I'll have an easier time remembering stuff.

Once I start investing heavily, I'll definitely have to start keeping more accurate records, to track how much I'm making (or losing).

Sophie · 01-05-2008, 10:40 PM

I've been using Quicken for the last 12 months or so, but I installed Gnucash earlier this week and want to make the switch. Any tips/advice/warnings?

Miss Rosie · 01-05-2008, 11:02 PM

I use Quicken because it came with my computer. I'm not overjoyed with it, but I'm not unhappy with it, either, certainly not unhappy enough to look for alternatives.

I have to admit that I like one of it's drawbacks: I have to put everything in by hand. I think I would do that anyway, as I like being able to make a distinction between the $10 I spent on my own stuff and the $10 I spent on household stuff at the same store, but it also helps me track little weird crap. A Diet Coke doesn't get buried in a hardware store run if I have to look at the receipt when I get home and put the actual hardware in a different category from the soda.

rollo · 01-06-2008, 09:37 AM

Can anyone tell me if there are free (open source or not) alternatives to Quicken? I notice that Quicken is often mentioned in these type of discussions, yet I would greatly appreciate a free alternative.

Also, does financial software often offer some type of integration with internet banking? I can export my transactions as a CSV file from my bank's website. Can I import them into Quicken or some other software packages?

summrs1 · 01-06-2008, 03:57 PM

GnuCash is an alternative to Quicken, but I have not used it. I have downloaded it and am trying to install it, but have had no luck on my new Mac. If anyone has installed GnuCash on a Mac running Leopard, let me know.

01-04-2008, 08:11 AM	#1
flibberty jibbit Junior Member Join Date: Jan 2008 Location: Ontario, Canada Posts: 24 Reputation: (11)	financial software One of my resolutions this year is to get not only my finances sorted but to also start saving aggressively. I'd like to use software but when I looked into buying some it all seemed like so much more than I need. Or maybe it's that I need a load of features that I don't even realize yet. My questions - what do you use and why? Have you used other programs and why did you stop using them in favour of another system? TIA! ~J __________________ "What I dream of is an art of balance." --Henri Matisse

01-06-2008, 09:37 AM	#9
rollo Junior Member Join Date: Jan 2008 Posts: 16 Reputation: (10)	Free alternatives? Can anyone tell me if there are free (open source or not) alternatives to Quicken? I notice that Quicken is often mentioned in these type of discussions, yet I would greatly appreciate a free alternative. Also, does financial software often offer some type of integration with internet banking? I can export my transactions as a CSV file from my bank's website. Can I import them into Quicken or some other software packages?

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01-04-2008, 06:02 PM	#2
The Honest Dollar Member Join Date: Dec 2007 Location: New York Posts: 90 Reputation: (63)	I bought Quicken because so many people thought it was the shiznit, but I absolutely hate it half the time. I still use it to track my net worth, but I had to "hack" it with some dummy accounts. One tech tool I LOVE is Mint.com. If you don't want all the bells and whistles and just need something to track your spending habits and help you budget, Mint is perfect. It automatically pulls info from your credit card and bank accounts, helps you categorize transactions, and offers a bunch of different graphs and charts to analyze your spending. It's a great tool if you want to see where you're leaking money and where you can shore up and save more. It's also pretty secure, since it basically takes a picture of your accounts and doesn't save any access information for hackers to get into. It never even asks you for your real name! (Full disclosure: I don't get anything out of promoting Mint.com. I just think it's phenomenal!)

01-04-2008, 08:17 PM	#3
Jess Member Join Date: Jan 2008 Location: Rochester, NY Posts: 82 Reputation: (20)	I used to use Excel, if you can call that "financial software," but I really like the simplicity of Yodlee MoneyCenter. I tried Mint, and while it works for most, I didn't think it was quite what I wanted. Gnu Cash is also a great tool, I hear. If you're interested in Yodlee, there are a few things I love - you can add bills, checking and savings accounts, and investment accounts to your account so you can track everything on one page. Also, with a few simple clicks I can see my recent transactions, all properly labeled (unlike most other money-tracking websites), my networth (a more simplified version than NetworthIQ), and spending reports. Also, there are a huge variety of alerts that you can request to be placed on each individual account, which can be helpful if you like those. I just checked Google Reader, and either Consumerist or Lifehacker just posted about Buxfer, and how with Google Gears it might now be possible to store all of your personal data on your computer, not via the Internet, which might make it a "safer" alternative if you're worried about your personal information.

01-05-2008, 08:33 AM	#4
Rebecca Member Join Date: Jan 2008 Posts: 96 Reputation: (32)	I used Quicken for a little while, but it just was a little too much for me. Also, at the time my bank wouldn't auctomatically download to Quicken, so that made it really inconvenient. Then, for the next 5 years I just decided to be blissfully ignorant of my spending, which leads me to my current situation. I stumbled upon mint.com and decided to try it. That's when I first realized how bad my siutation was. So, I guess for that reason (it's also really cool), I love Mint.

01-05-2008, 11:22 AM	#5
summrs1 Junior Member Join Date: Dec 2007 Posts: 11 Reputation: (10)	I use a combination of MS Money and Excel. Because of the way I budget, I can't use just Money, so I also use Excel. I'm probably a little over the top compared to most, but it does the trick for me. To just do a simple budget and tracking, I would think Excel (or other spreadsheet) would do the trick and give you the most flexibility. Good Luck

01-05-2008, 02:47 PM	#6
Gootsy Senior Member Join Date: Jan 2008 Posts: 236 Reputation: (19)	This's something I've been meaning to do for a few months. Back in October I downloaded and installed Gnucash, but after playing with it for a few minutes, I haven't used it since. I keep track of everything in my head(with help from online banking), which isn't the smartest thing to do, I know. But by doing this, it forces me to keep things simple so that I'll have an easier time remembering stuff. Once I start investing heavily, I'll definitely have to start keeping more accurate records, to track how much I'm making (or losing).

01-05-2008, 10:40 PM	#7
Sophie Junior Member Join Date: Dec 2007 Location: Sydney, Oz Posts: 19 Reputation: (10)	I've been using Quicken for the last 12 months or so, but I installed Gnucash earlier this week and want to make the switch. Any tips/advice/warnings?

01-05-2008, 11:02 PM	#8
Miss Rosie Senior Member Join Date: Jan 2008 Posts: 101 Reputation: (27)	I use Quicken because it came with my computer. I'm not overjoyed with it, but I'm not unhappy with it, either, certainly not unhappy enough to look for alternatives. I have to admit that I like one of it's drawbacks: I have to put everything in by hand. I think I would do that anyway, as I like being able to make a distinction between the $10 I spent on my own stuff and the $10 I spent on household stuff at the same store, but it also helps me track little weird crap. A Diet Coke doesn't get buried in a hardware store run if I have to look at the receipt when I get home and put the actual hardware in a different category from the soda.

01-06-2008, 03:57 PM	#10
summrs1 Junior Member Join Date: Dec 2007 Posts: 11 Reputation: (10)	GnuCash is an alternative to Quicken, but I have not used it. I have downloaded it and am trying to install it, but have had no luck on my new Mac. If anyone has installed GnuCash on a Mac running Leopard, let me know.