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 Post subject: Getting quicken, which version - Deluxe or Premium
PostPosted: Sun Jul 22, 2007 5:36 pm 

Joined: Fri Jul 13, 2007 3:17 pm
Posts: 95
Which version of Quicken should I get? Deluxe or Premium, Right now I've got no investments, I might by the end of the year, which'll be an IRA.


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PostPosted: Sun Jul 22, 2007 8:06 pm 
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Joined: Thu Apr 05, 2007 6:30 am
Posts: 336
Location: Houston, TX
I use Premium but I bet I use less than 10% of the investment-specific functionality. Well, maybe more than that, since it passively does things like downloading asset classes, trying to help me make decisions about my allocation. I get that functionality from my brokerage. With a little creative thinking, you can probably figure out how to use a regular account register to track your investments, assuming you're only going to have the four basic transactions: buy, sell, interest, and dividends. If they have a free trial, try it out.

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PostPosted: Sun Jul 22, 2007 8:39 pm 

Joined: Wed Apr 04, 2007 9:50 pm
Posts: 752
Location: Vancouver, Canada
Do you need Quicken at all right now? You could track your investments in a spreadsheet for now. Wait a year or so till you have more investments.

For what's it's worth, I used to use Quicken but now I just have my own spreadsheet. It takes me about 10 minutes of work each month to track:
- my retirement savings
- husband's retirement savings
- home value
- general mutual funds & investments
- college savings plan
- bank account balances
- mortgage

You might want to think about whether you really need to spend the money...if you want to delay the cost for a bit.

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PostPosted: Mon Jul 23, 2007 2:32 am 

Joined: Thu Apr 05, 2007 3:05 pm
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If your only investment for now will be an IRA, you don't need to track it very closely anyway as you shouldn't care much about its performance in the short term.

I do use Quicken, but in my opinion the only reason to use it over a spreadsheet is the integration with your bank's online banking system. Quicken is great in that respect because it lets you do all your banking and billpaying through one interface, and it makes reconciling your accounts a breeze. However, if you end up being dependent on that feature you'll end up paying for it, because Intuit makes sure that older versions of Quicken eventually become incompatible with online banking, forcing you to buy upgrades.

I bought Quicken specifically because my bank offered a direct connection to online banking from within Quicken, but that bank was bought out by another company and they didn't maintain that feature for my version of Quicken (Quicken for Mac). And my Canadian bank doesn't offer it either. So for the past five years I've been using Quicken the old-fashioned way, as a glorified spreadsheet, and honestly I think a spreadsheet would do just as good a job.


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PostPosted: Mon Jul 23, 2007 7:58 am 

Joined: Fri Jul 13, 2007 3:17 pm
Posts: 95
The main reasons to get Quicken is
1. Not made by Microshaft (AKA Microsoft)

2. Track all accounts (bank/credit)

3. Create Graphs


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PostPosted: Mon Jul 23, 2007 8:36 am 

Joined: Thu Apr 05, 2007 3:05 pm
Posts: 1321
boldinvest wrote:
The main reasons to get Quicken is
1. Not made by Microshaft (AKA Microsoft)

2. Track all accounts (bank/credit)

3. Create Graphs


You can perform all of those functions with a spreadsheet, and if you want to avoid Microsoft there are plenty of other spreadsheet options out there, including Google's free online version.

But it's true that Quicken is set up so you can do this easily. I'm not handy with spreadsheets myself, so I prefer using Quicken.


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PostPosted: Mon Jul 23, 2007 10:09 am 

Joined: Fri Jul 13, 2007 3:17 pm
Posts: 95
graphs are too hard to do in something like excel.


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PostPosted: Mon Jul 23, 2007 10:35 am 

Joined: Wed Apr 04, 2007 9:50 pm
Posts: 752
Location: Vancouver, Canada
Really? I have all sorts of graphs in Excel. I just use the wizard.

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PostPosted: Mon Jul 23, 2007 11:14 am 
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Joined: Thu Jul 12, 2007 6:35 am
Posts: 12
I use OpenOffice to do all of that.


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PostPosted: Mon Jul 23, 2007 8:17 pm 
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Joined: Fri Mar 30, 2007 5:39 pm
Posts: 283
As someone who has over 10 years worth of historical data in Quicken, I'd recommend that you just go ahead and jump in with a dedicated software package of some sort (probably Quicken or Money -- maybe Money Dance? never used that one). While spreadsheets are all well and good, when your finances get more complex there's a high likelihood that you'll want something more capable. If you use spreadsheets up to that point, you'll likely miss out on a lot of historical data when you finally make the jump.

As for the question of Deluxe vs. Basic, I have no idea. I have a Mac and I think they only have one flavor for Macs. I think it's probably akin to Deluxe, though, as it does everything I need and more.

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