Replacement for Quicken

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danwhite77
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Replacement for Quicken

Post by danwhite77 » Sun Jul 08, 2012 2:35 pm

After six years of using Quicken to track investments and cash flow, I'm going stop using the program. If anyone else has made the switch to a different program or web site, which do you recommend for tracking investments and cash flow? Thanks.
"While some mutual fund founders chose to make billions, he chose to make a difference." - Dedication to Jack Bogle in 'The Bogleheads' Guide to Investing'.

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Jake46
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Re: Replacement for Quicken

Post by Jake46 » Sun Jul 08, 2012 2:42 pm

If you have a Mac, you will like iBank. You can easily import your Quicken data.

sscritic
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Re: Replacement for Quicken

Post by sscritic » Sun Jul 08, 2012 3:01 pm

danwhite77 wrote:After six years of using Quicken to track investments and cash flow, I'm going stop using the program.
If you specified what you don't like about quicken or what features it is missing, then the recommendations you get might be better suited to your wants and needs. I have a Mac. I used Quicken. Then I used See Finance when Quicken wouldn't run under Lion. Then I went back to Quicken when Quicken for Lion came out for $15. I don't track investments on Quicken (I use spreadsheets), just spending, and I like the Quicken reports better than the See Finance ones.

What do you like and not like about Quicken?

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danwhite77
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Re: Replacement for Quicken

Post by danwhite77 » Sun Jul 08, 2012 3:45 pm

sscritic wrote:
danwhite77 wrote:After six years of using Quicken to track investments and cash flow, I'm going stop using the program.
If you specified what you don't like about quicken or what features it is missing, then the recommendations you get might be better suited to your wants and needs. I have a Mac. I used Quicken. Then I used See Finance when Quicken wouldn't run under Lion. Then I went back to Quicken when Quicken for Lion came out for $15. I don't track investments on Quicken (I use spreadsheets), just spending, and I like the Quicken reports better than the See Finance ones.

What do you like and not like about Quicken?
Thanks for the information. I am now on a Mac. I ran bootcamp for the last 2.5 years to use the PC version of Quicken because I liked the fact that I could get a comprehensive picture of our finances in one place (i.e., Windows version of Quicken). Running bootcamp is no longer a viable option. While I'd like to replace Quicken with something as comprehensive (i.e., all assets and debt in one place), I accept that likely won't be the case going forward. Before reaching out here on Bogleheads, I assumed that we would use mint.com or something similar for a check register (cash flow) and a spreadsheet with just total amounts for investments (i.e., abandon having number of shares or any similar kind of detail in the tracking).

My understanding is that Quicken for Mac is basically a check register. If that's the case, I would think something free could be used instead. Any thoughts are welcome, thanks.
"While some mutual fund founders chose to make billions, he chose to make a difference." - Dedication to Jack Bogle in 'The Bogleheads' Guide to Investing'.

livesoft
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Re: Replacement for Quicken

Post by livesoft » Sun Jul 08, 2012 3:51 pm

I use VM Fusion on a Mac and run Windows XP there-on. So if the issue is Bootcamp, I would switch to other virtual machine software.

On a home Windows PC, I use MS Money which is free nowadays. I enter transactions by hand as I do not have many transactions. The MS Money I have does download share prices without problems.
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mildred66
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Re: Replacement for Quicken

Post by mildred66 » Sun Jul 08, 2012 4:01 pm

Quicken has a mac version called Quicken Essentials for Mac for $40.

It is not as fully-featured as the PC-version (for example, it doesn't have check writing functionality or advanced investment tracking), but it does link to most online accounts for tracking your checking, savings, credit cards and investments. It also has tools for budgeting and tracking your spending habits.

You can import your old Quicken files and export tax reports. The design is similar to Mint.com, and is user-friendly. I've enjoyed mine after many years using the PC version.

Hope that helps!

TheTurn
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Re: Replacement for Quicken

Post by TheTurn » Sun Jul 08, 2012 4:25 pm

Is Quiken safe? I don't know exactly how it works but I heard about programs like this such as mint. Are these programs safe? Having all your financial info in one place sounds amazing but I'm skeptical.

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TomatoTomahto
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Re: Replacement for Quicken

Post by TomatoTomahto » Sun Jul 08, 2012 4:27 pm

I will be watching this thread. One of the main reasons i still use windows is Quicken (photoshop is the other main reason). I have not seen or heard of anything else as comprehensive with as handy an automated download. I'd love to use something else, but just can't get myself to switch to something less useful.

Checkwriting is not a problem, but tracking cc use, bank balances, and investments is.
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tetractys
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Re: Replacement for Quicken

Post by tetractys » Sun Jul 08, 2012 4:29 pm

danwhite77 wrote:My understanding is that Quicken for Mac is basically a check register.
This is true of Quicken Essentials for Mac, which is a truncated light version. For investing you want Quicken 2007 for Mac, which is the full version. -- Tet
Last edited by tetractys on Sun Jul 08, 2012 4:33 pm, edited 1 time in total.

stan1
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Re: Replacement for Quicken

Post by stan1 » Sun Jul 08, 2012 4:32 pm

I have an 8 year old Windows XP PC that I run Quicken on. Everything else I do on a Mac.
When that PC eventually dies I'll likely buy a cheap Windows laptop to host Quicken on for another 8-10 years.

Works fine for me, less hassle than virtual machine products, and doesn't impact performance/disk space on my 2010 MacBook Air. Cost is probably close to a wash given that I plan to keep the PC for 8-10 years without upgrading the OS whereas the Mac will be tech refreshed every 2-3 years which could lead to requirements to buy new virtual machines/versions of Windows.

sscritic
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Re: Replacement for Quicken

Post by sscritic » Sun Jul 08, 2012 4:33 pm

danwhite77 wrote: My understanding is that Quicken for Mac is basically a check register. If that's the case, I would think something free could be used instead.
Your understanding is not correct. I have all my Vanguard and TIAA funds recorded in Quicken, I just don't do much with them there. That's my personal preference.

For example, I just ran a Performance (IRR) Report from the first of the year up to today. I have never run an IRR report before, because I don't really worry about IRR, just my net worth. Truth be told, I didn't even know it was there, because I never looked (based on the same reason as in the previous sentence). Maybe now I will run this report every once in a while just for kicks.

P.S. Quicken for Lion is a version of Quicken 2007. I believe tet is correct that Quicken Essentials doesn't have the same capabilities, but since I don't own it, I can't comment on it.
Last edited by sscritic on Sun Jul 08, 2012 4:35 pm, edited 1 time in total.

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TomatoTomahto
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Re: Replacement for Quicken

Post by TomatoTomahto » Sun Jul 08, 2012 4:33 pm

TheTurn wrote:Is Quiken safe? I don't know exactly how it works but I heard about programs like this such as mint. Are these programs safe? Having all your financial info in one place sounds amazing but I'm skeptical.
No need to be skeptical I've had all of my financial info in one place for a decade or so. I've had to upgrade every couple of years, but it works well enough. The only non-automated downloads I've had are Treasury Direct and the kids' 529 plans at Vanguard (other Vanguard accounts work fine). In the past, one employer's 401k transactions wouldn't download automatically, but the fund quotes would update.

Edited to replace "other Vanguard funds" with "...accounts"
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umfundi
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Re: Replacement for Quicken

Post by umfundi » Sun Jul 08, 2012 4:36 pm

If you want to track investments, net worth etc., Yodlee is great. It is the engine behind most financial sites that do this kind of thing.

If you want to track spending, budgeting, I don't know.

Keith
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rwm
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Re: Replacement for Quicken

Post by rwm » Sun Jul 08, 2012 8:45 pm

Moneydance.

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Re: Replacement for Quicken

Post by dbphd » Sun Jul 08, 2012 9:10 pm

When it appeared Quicken may not be updated for Lion, I tried iBank. It does mostly what Quicken does, but I found data entry cumbersome. I keep checking, credit cards, home loan, Vanguard, and TIAA as Quicken accounts. That makes it easy to pull together a budget or analysis. There are some nice tools such as category summary and monthly comparison of budget and actual expenses. I think you do want Quicken '07, which is now Lion compatible. For investments, though, Vanguard has some really nice analysis tools, and I can import data from TIAA/CREF to include in a total review.

db

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danwhite77
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Re: Replacement for Quicken

Post by danwhite77 » Mon Jul 09, 2012 7:28 am

Thanks to everyone for their input.

For those of you that suggested Quicken '07 (Lion) for the Mac, will Intuit stop supporting that product anytime soon? For the PC versions that I've used in the past, eventually Intuit forced you off of an old version of Quicken by not allowing you to automatically update. Do they do the same thing for the Mac Quicken (i.e., stop supporting the software or limit features)? I'm hoping that since they don't update Quicken for Mac ever year that the answer is "no."
"While some mutual fund founders chose to make billions, he chose to make a difference." - Dedication to Jack Bogle in 'The Bogleheads' Guide to Investing'.

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danwhite77
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Re: Replacement for Quicken

Post by danwhite77 » Mon Jul 09, 2012 7:32 am

Also, for anyone that has previously used the PC Quicken and migrated to the Mac 2007 Quicken, is it possible to import Quicken PC files into the Mac 2007 Quicken? Thanks for any help.
"While some mutual fund founders chose to make billions, he chose to make a difference." - Dedication to Jack Bogle in 'The Bogleheads' Guide to Investing'.

sscritic
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Re: Replacement for Quicken

Post by sscritic » Mon Jul 09, 2012 7:37 am

One other option is to run a version of Windows in a Virtual Machine and then run your Quicken for Windows in it. Of course, then you would be on the Windows Quicken Upgrade Treadmill (WQUT). There is also the MQUT for Mac users, but it runs at a slower pace.

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Re: Replacement for Quicken

Post by sscritic » Mon Jul 09, 2012 7:46 am

danwhite77 wrote:Also, for anyone that has previously used the PC Quicken and migrated to the Mac 2007 Quicken, is it possible to import Quicken PC files into the Mac 2007 Quicken? Thanks for any help.
I went from Windows to Mac several years before (to Quicken 2006 for Mac) and then to Quicken for Lion. Note that Quicken 2006 for Mac was still good after 6 years (thus the previous comment about MQUT running at a slow pace). You don't import; you have to convert. The conversion was a bit of a hassle, but there were instructions in support for doing it. I guess it really was an import, it's just that you had to export your data as a QIF first in a particular way (this is my memory without morning coffee of 6 year ago).

Note that there are some limitations. While this is not directly related, Quicken for Lion can't read Quicken for Mac 2004 data files.
If you are migrating your data file from Quicken 2005, 2006 or 2007 for Mac that was installed on a Mac running OS X 10.6.8 Snow Leopard or earlier, you will be able to simply open your existing data file in the OS X Lion compatible version.
...
File conversion is not possible for Quicken 2004 for Mac and prior versions. File conversion is only possible for Quicken for Mac 2005, 2006, 2007, and transactional import for Quicken Essentials for Mac.

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Re: Replacement for Quicken

Post by sscritic » Mon Jul 09, 2012 7:51 am

On conversion:

There are limitations on what can be converted. The limitations and conversion process is discussed here:
http://quicken.intuit.com/support/help/ ... 82890.html

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flossy21
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Moneydance

Post by flossy21 » Mon Jul 09, 2012 8:01 am

I converted from Windows to Mac and my Windows Quicken with data back to 1997 over to Moneydance which I am running on an Imac. I've been on this for about 2 years now. I highly suggest you consider Moneydance. It is very Quicken like but without the annual vampiric upgrades.

http://www.moneydance.com/

also -- if you use the search feature at on Bogleheads you will see that there are several other past discussion of this very subject.

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AstroJohn
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Re: Replacement for Quicken

Post by AstroJohn » Mon Jul 09, 2012 8:56 am

Moneydance is very good. Works on Windows, Linux, and Mac. I changed several years ago when I bought an iMac and have been very happy ever since. In particular, I like the clean interface--none of that chartjunk Quicken clutters the screen with.

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archbish99
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Re: Replacement for Quicken

Post by archbish99 » Mon Jul 09, 2012 9:26 am

YNAB (youneedabudget.com) is a fantastic spending/budgeting tool. It doesn't track investments, so if you're looking to see how a particular asset class has done since inception, it's not for you. If you're looking to track your spending, compare it to target, and budget month-by-month, then YNAB is what you're looking for.

Available on Windows and Mac alike, though I think they dropped Linux support in the latest release. Free 30+ day trial, so can't hurt to give it a shot.
I'm not a financial advisor, I just play one on the Internet.

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danwhite77
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Re: Replacement for Quicken

Post by danwhite77 » Mon Jul 09, 2012 1:01 pm

Thanks to everyone for their input.
"While some mutual fund founders chose to make billions, he chose to make a difference." - Dedication to Jack Bogle in 'The Bogleheads' Guide to Investing'.

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dphmd
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Re: Replacement for Quicken

Post by dphmd » Mon Jul 09, 2012 1:07 pm

I haven't found any option for Mac that is as good as MS Money for Windows, but Moneydance comes the closest. The biggest problem is that conversion to Moneydance is a pain. Once you get everything moved over, though, it works well and has all the features I need.
Discipline is freedom.

umfundi
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Re: Replacement for Quicken

Post by umfundi » Mon Jul 09, 2012 1:11 pm

dphmd wrote:I haven't found any option for Mac that is as good as MS Money for Windows, but Moneydance comes the closest. The biggest problem is that conversion to Moneydance is a pain. Once you get everything moved over, though, it works well and has all the features I need.
MS Money for Windows is dead. I switched to Yodlee, but the answer depends on your requirements.

Keith
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Oddlot
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Re: Replacement for Quicken

Post by Oddlot » Mon Jul 09, 2012 1:59 pm

I made several attempts over the years at using Quicken for tracking finances and spending; it just seemed way too complicated (not to use necessarily, but due to feature overload), and I gave up after not being able to get the checking account to balance.

Instead I used Excel, and in a few hours I had downloaded all my bank and credit card accounts right into various spreadsheets and then consolidated them in ways that made sense to me. (We use our bank for billpayer service , so that wasn't an issue).

If you have Excel 2007 or later, it's amazingly powerful. (Yeah, I know it has feature overload too, but that makes more sense in a gen purp app).

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dphmd
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Re: Replacement for Quicken

Post by dphmd » Mon Jul 09, 2012 2:24 pm

umfundi wrote:...

MS Money for Windows is dead.

Keith
I know. I had been using MS Money with virtualization software, but was forced to switch when Money died. Too bad -- it was a great program.
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umfundi
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Re: Replacement for Quicken

Post by umfundi » Mon Jul 09, 2012 5:01 pm

dphmd wrote:
umfundi wrote:...

MS Money for Windows is dead.

Keith
I know. I had been using MS Money with virtualization software, but was forced to switch when Money died. Too bad -- it was a great program.
Its greatest feature, IMO, is that it did not come from Intuit. I got screwed in the Turbo Tax copy protection fiasco some years ago and swore I would never buy another of their products.

Keith
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