In this article, I’d like to take a personal finance software review of Quicken product offerings designed for personal use. There are several personal finance software products on the market that do a wonderful job of helping families manage their finances, but I am more familiar with Quicken as I have been a user of their products for over eight years. I am completely satisfied with the features that Quicken offers and would like to review and compare the benefits that their product offering offers.

Quicken Beginner’s Edition

Formerly known as Quicken Basic, Quicken Starter Edition is a great solution for first-time personal finance software users. The three main features that Quicken Starter Edition offers are: (1) balance your check book electronically, (2) track how you spend your money by being able to classify purchases, and (3) track and update all your investments and accounts banking in one place. Basically, it provides a “one stop shop” for all your personal financial concerns.

Quicken Deluxe

Although Quicken Starter Edition is a fantastic product, I think the average family considering a personal finance software product should start with Quicken Deluxe. The reason is that, in addition to offering all the features of Quicken Starter Edition, Quicken Deluxe provides the ability to download bank and investment account transactions automatically. This makes reconciling your checking account, as well as your other accounts, extremely simple. Plus, Quicken Deluxe lets you create savings goals and track your progress, electronically store statements and records, and plan for a new home, baby, or retirement. For most families, this is the best place to start.

Quicken Premier

For those families who manage their own investments and require additional tools to monitor and measure their progress, Quicken Premier is the perfect solution. Quicken Premier offers all the wonderful features of Quicken Deluxe and several others, including: (1) generating various investment performance reports, (2) analyzing and optimizing your portfolio with special tools, (3) generating A, B and D taxes reporting and (4) setting investment alerts to notify you when certain conditions are met. A truly remarkable tool for the do-it-yourself investor!

Quicken Home and Business

The above three software solutions are great options, but if you own your own business, none of them will be enough for the additional monitoring and record keeping that you are required to do. Enter Quicken Home and Business. Although not as powerful a solution as Intuit’s QuickBooks products, it is the perfect choice if you have a small business with no payroll requirements, or especially for a part-time business. In addition to providing all the wonderful features of Quicken Premier, Quicken Home and Business allows you to: (1) track and categorize both business and personal expenses, (2) create custom estimates and invoices, (3) generate profit and loss reports, (4) track vehicle mileage and other Schedule C items, and (5) monitor upcoming bills and unpaid bills. If you are considering a part-time small business, this solution is perfect to start with.

In conclusion, Quicken offers a wonderful line of products that are designed to meet the different needs of different families. This personal finance software review aims to give you a basic overview of each product to help you decide which solution would be the most appropriate for your family. Hopefully, this discussion convinces you of the incredible value that personal finance software offers to its users. I can only speak from personal experience.