Re: Quicken and Banking Online
I'm not sure what I was thinking when I started this thread. As you say, Excel is a terrific program but it's a multi-purpose spreadsheet application which I wouldn't live without either. I use both Excel and Access everyday for one thing or another. I've taught both basic and advanced Excel at work and it's truly in a class by itself for general business activity. Quicken on the other hand was designed to manage your personal financial health. So it's scope and function is more limited than Excel. But we're talking $29.99 retail here for Quicken Basic which is what I use.
In Quicken, it's all about the user interface. See where your money is going Check in anytime to see exactly where your personal finances are at for the month or year. Quicken shows you what you have coming in, going out, and most importantly, what's left over each month to spend or save. My real estate taxes are paid in four (but not quarterly) installments. So I can plug in the dates, approx amounts and it helps remind me that I've got big bills on the horizon. (We also have a home in NY with high taxes.)
Quicken behaves very well with online banking. It brings your online accounts -- including checking, savings and credit cards-- together in one place. Although I don't use this function, you can avoid the hassle of going to multiple web sites and remembering multiple passwords. With Quicken, you can access them all in one place and you need just ONE password.
It's a great complement to online banking. You're using Excel to keep records but what does someone without your computer skills use? As I mentioned, I have excellent Excel skills and would be able to duplicate most of Quicken but for the price, why would I want to.
I guess in answer to my first question, I started this thread because like a reformed drunk, I was extremely reluctant to get started with it 12 years ago. But when I look back, it was the best thing I ever did for controlling my spending. BTW, you can export quite easily from Quicken into Excel which I do sometimes. I also have to confess that I was very reluctant to start banking online but now I'd never go back to traditional banking.
George
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