Using a computer to track your money and investments used to mean just choosing software and getting started. It’s not that simple anymore.
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Intuit’s Quicken software is still dominant. But Microsoft has discontinued support for its Money personal financial software. Meanwhile, smaller companies are trying to chip off pieces of Quicken’s personal financial software business with competing products.
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For the first time in years, you might wonder if you can bypass using personal software altogether and instead use a third-party financial tracking Web site or just use your bank’s or brokerage’s site. Here’s the irony: Financial tools such as Quicken are easier to use, but trying to choose which product is best for you is increasingly complex. There are more choices, not only from Mint.com and Quicken, that are growing increasingly more powerful each year plus more options from banks and brokerages and a number of other Web applications, says Aaron Patzer, who manages Mint and Quicken for Intuit.
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You’ll find help here. USA TODAY analyzes the four major ways you can use your computer to monitor spending and investments. You’ll discover the advantages and disadvantages of each method so you can spend less time choosing technology and more time getting your finances on track.
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Solution No. 1
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iQuicken/i
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If you want power and control in tracking your money, Quicken is the gold standard.
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The latest version of the software, Quicken 2011, received a face-lift that makes the app look and behave like an easy-to-use Web site. But under the hood, the software gives users, especially investors, sophisticated tools that let them view their data in just about any way.
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The upside: Quicken is an annually upgraded product backed by Intuit, the leading maker of business software for consumers and small businesses.
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Quicken lets you create detailed budgets in minutes, as well as download all your bank and brokerage…