View Full Version : Quicken and money management
02-21-2002, 07:39 PM
so, i just got quicken 2002 (basic) today and i'm in the middle of setting it up. it's a complete pain. i'm sure that once i get everything configured and all my data entered it, it won't be that hard to use (granted, it will be much harder than what i currently do: not really manage my money at all), but the setup sucks.
so what do you guys do? tell me your success stories, or alternately, how much you think computerized personal finance programs suck.
edit: i wanted to make this a poll, but forgot to pick the correct option :( but tell your stories anyway.
02-22-2002, 07:17 AM
i use quicken - i like it
it does make keeping track of your $$ much easier.
I can download the past weeks transaction directly from my bank - import them into quicken and see exactly where i'm at.
it does take a lil while to get it set up - but its pretty simple after that.
02-22-2002, 09:23 AM
I have used Quicken religously since about 1994 and can't imagine trying to get along without it. Setting stuff up does take a little time in the beginnig, but like everything else, if you stick with it will pay big dividends.
What seems to work best for me is setting up accounts for bank accounts, credit card accounts and investment accounts. Loans, mortgages, and other asset and long term liability accounts are of less value to me.
The system I use for keeping it current is very simple. Whenever I buy something during the week I try to use my credit card. I get the receipt and keep it in my wallet. At the end of the week or every two weeks I sit down and input the transactions. It only takes about 15 minutes or so. Then when the bills come in it is very easy to reconcile.
The key to Quicken is to keep it up to date. Old financial information will not help you.
02-22-2002, 09:28 AM
I've used Quicken for a long time and I've always found it extremely useful. I keep track of several bank accounts, the value of our cars, home, mortgage, credit cards, retirement accounts, stocks, etc. The reports are highly customizable; you can see how much you spent on groceries from March thru June if you really want to. Many financial institutions which have electronic access also provide your account data in Quicken readable format, which you can use to quickly import your transactions.
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