3/31/2024 0 Comments Best monthly expense tracker excelO I have exactly one credit card and I charge almost everything on it I'm happy to pay what amounts to one dinner per year for a quality software product that I use every week. With the subscription model, the software has become much less buggy than in the past and new features are continually added. With the automated downloads from bank accounts, credit card companies, and investment accounts, updating everything is a breeze and I can easily create reports to see my entire financial picture. I use Quicken Premier (annual subscription). I spend 30 minutes to 45 minutes in the typical week (in one setting) downloading transactions and updating a few non-downloadable items, plus reviewing the reports I’ve created.Īnother long-time Quicken user here agreeing with all of this. I prefer Quicken for the investment reporting that I need.Įmphasizing the first item, its usefulness on an ongoing basis depends to a large degree on how much time you put in on the initial customizing. Both are fine for income and expense tracking - I could work with either for that. I've helped a friend with Mint, so that is the only real comparison I can make. There is no need to manually enter recurring bills or income items. By occasionally accessing their user forum, you will quickly know whether glitches require attention or can be waited out.ĥ)Reporting is pretty decent and somewhat customizable.Ħ)Account reconciliation can be done automatically.ħ)Quicken allows for extensive automation of routine tasks. Worst case there are several things you can do, but none are time consuming. The most typical glitch arises when an account download fails. In fact, I don't view them to be significant anymore. There is a trade-off here that is worth some thought - it all depends on what your needs are.Ĥ)Glitches are not that frequent for me compared to 10 years ago. If you create minutely detailed spending categories, you will spend more time categorizing. Done properly, it can be a tremendous time saver.ģ)You can be as granular or high-level as suits your needs when tracking expenses and income. If I spent more time using Quicken than alternatives, I wouldn't use it. Quicken saves me far more time than it requires of me, but I would not be willing to use it if I had to input transactions manually. How much depends on you, type and number of accounts.Ģ)If you connect for automatic transaction download, you will drastically minimize the time required. A few comments on Quicken, from a long-time user:ġ)There will be some time commitment needed for setup and initial learning.
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