Quicken Basic
One of the most surprising findings in the book The Millionaire Next Door is the fact that over half of all millionaires use a household budget to guide their spending. That's right, the lowly budget--what I call the Rodney Dangerfield of money management tools since it typically gets no respect. It's often viewed as only for those who are deeply in debt or just learning how to manage money. But the fact that so many of the most accomplished money managers use a budget should be an incentive for everyone to use one.
Budget systems range from a paper and pencil approach to sophisticated computer programs such as Intuit's Quicken and Microsoft's Money. Quicken and Money are available in deluxe versions that can give tax summaries, provide investment tracking, and more. But they are also available in simpler versions such as Microsoft Money Essentials and Quicken Basic. Either one will meet most of the needs of people wanting to manage their spending electronically.
The Wall Street Journal recently reviewed Microsoft Money Essentials and Quicken Basic. While giving both high marks, the reviewer preferred Quicken Basic, calling it "a more detailed, yet still easy-to-use, program."
One note, Quicken Basic is not available for the Mac. The only option for Mac users is a more sophisticated and more expensive version. To order the Mac version, click below.
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Matt About Money
- Recession Lessons; Your Own Financial Stress Test; Cheap Eats; and more in the latest issue of the Matt About Money eNewsletter.
“We had Matt come and speak at our Generosity Conference. He did our Debt Reduction breakout session, and Matt delivered the perfect balance of scriptural basis, practical tools, and humor for an excellent presentation. Our attenders not only raved about the session for weeks afterward, but they have put many of his tools into practice and are challenging one another through their small groups. I’d recommend Matt for any gathering dealing with stewardship and finances, especially as it relates to debt reduction and financial freedom.”