Personal Finance Software? Worth it?

[crinkles]

I've been looking at getting Moneydance or Quicken, but I already do everything in spreadsheets. Including bank accounts, savings, mutual funds, and pension, and loans (if i have them).

I was seriously considering MOneydance, even D/L trial version, but it doesn't seem any more powerful than anyone with a bit of excel skills could manage for themselves. It also doesn't seem to be able variable cash flows into a mutual fund to determine your RoR through time.

my spreadsheets have done well over 5 y ears and I can tell you exactly where all my money was spent... loans were paid out, and what return my investments are getting. for free.

has anyone found personal finance software to be really useful?

 

[barlowc]

Originally Posted By: crinkles
has anyone found personal finance software to be really useful?


Yes, incredibly useful! I use Microsoft Money and am currently on the 2005 version. I track all the transactions for our bank accounts and credit cards which essentially covers our cash flow. By categorizing the transactions appropriately (e.g. Groceries, Gas, Dining Out, etc.), Money's reports help me analyze our cash flow and ensure that we're "operating" within the budget.

 

[crinkles]

I use the envelop method to budget in my spreadsheets. each expense type has 3 columns, up down and balance. that way I simply cannot go over budget...

 

[crinkles]

I just got moneydance 2010 and it works great. I also like it's budgeting feature which is less strict than envelope budgeting, which is good because i do need to relax about things a bit.

I would recommend it to anyone who wants to keep track of their money, and investments.