Friday, February 04, 2011

Microsoft Money sunset

As a longtime (15+ years) Microsoft Money user, I'm sorry to see the product be discontinued.   Online services were officially sunset at end of January which makes the product worthless for tracking investment performance.  I can honestly say that Microsoft Money was the application that I used the most on my home PC and was an invaluable tool to track and manage home finances.  In addition to providing a dashboard view of my entire portfolio, Money provided powerful tools and reports to track my financial goals.

With Microsoft Money gone, I needed a replacement.  I signed up for Mint about a year ago in anticipation of the sunset of Microsoft Money.  While the price is right (free!) Mint still can't do basic arithmetic and compute cost basis correctly.  The data is there - but Mint can't add which makes it worthless to track investments.  I needed to look at other tools.

Next, I turned to Quicken which, like Mint, is owned by Intuit.   I purchased a copy of Quicken Premier online from Amazon for $53.  I was pleasantly surprised (ok, shocked) that Quicken was able to import my 165MB Microsoft Money file with 15+ years of data in a little more than 5 minutes.  Yes, I have some work to organize and clean it up but the data is there - no small feat.  While I just started using Quicken, my initial impressions are that it is less polished and less sophisticated than Microsoft Money.   That said, I've only been using it a day so more hands on experience is needed.  I'll be blogging my impressions I gain more experience.

Update 8 June 2011:  I've been using Quicken Premier with good success.  While not as polished as Microsoft Money, it has most of the features I need.   I use it mostly to view a snapshot of my net worth and keep track of investment performance.  However, I wish there was a feature like Microsoft Money to show the day's top gainers and laggards as well as market data (e.g. DJIA).


Ddraig said...

Yea I'm not really happy about it not working. You can still use MS money but will have to do the imports manually. Of course my bank doesn't provide QIF/OFX files so that's another strike against them in my opinion.

There are a few scripts that will download these automatically for you but you still have to import manually.

I wish there was an option or some way we could get MS Money working again. Tried Mint, refuse to purchase quicken until I've tested/tried it. I've seen what it looks like and I'm not really that impressed it is very much unpolished as you mentioned.

Chris Pepin said...

Thanks. You are correct that MS Money still works and data can be manually imported. However, the stock and mutual fund prices no longer update and is a key feature for me. One of the key features of MS Money was to keep track of my investment. While I'm still getting up to speed with Quicken and while poor, it appears to be my only option

soccer coach said...

Chris -- would love to see updates on your experience with Quicken as you get deeper into it. I, too, have years of personal income, spending, and investment data in Money and even 2 years after discontinuation have been unwilling to leave it. I am nearly a daily user and think about making the leap just about every time I log in. I did come across a slick program that basically lets me create an OFX statement with all the mutual funds and stocks in my portfolio. I download it to a dummy account in Money and all my accounts are up to date.

Chris Pepin said...

6 months happy I'm still happy with Quicken. It'a not a polished as Money but it keeps my portfolio up to date automatically and produces nice reports. I use Mint from time to time but it's too basic for my needs - I need line item detail on all my payments and investments

RMP said...

My MS Money updates stopped working for me today. Very sad indeed.
I'll have to look at Quicken but Microsoft had something good here.

jello7113 said...

I used MS Money since it came out for my checking account register. I was very sad when the download ability went away. I have switched to Quicken and hate it. But it's the only system that allows downloading. Without that I might as well hand write my register. I also liked that I could see months down the road what my checking account balance would be. With Quicken I barely goes a month. I have overdrawn my account because I transfered too much to a savings account because I couldn't figure out what Quicken was telling me. It's frustrating.

Chloe James said...

There's a new tool that restores the ability to get quotes in MS Money. Check it out:

Chloe James said...

I know this blog post is old, but wanted to let you know there's a new tool available that will restore Microsoft Money's online quote functionality.

Check it out here:

Chris Pepin said...

Thanks! I'll give this a try