Quicken moving to subscription model

[DEC-1982]

I resisted the subscription for Office. Last purchase of Office was the student version in 2013 - with CD. Word, Excel, power point, etc all work just fine. (Son is running this.) I don't know what features they could add to make me upgrade. IIRC the price was under $100 for the student version. You can get a 1 key version of home and student office for $116 on amazon right now. My version is 2011... so I clearly don't feel the need to update if it still works. More and more I'm using google docs - which has the advantage of being free. Sheets = excel, docs = word, slides = power point. There is not that much difference between them so there was very little learning curve. And "free" is my favorite price.


I'm confused by the math... how does 3 years times $100 equal $230?

Just out of curiosity, why would people not use free OpenOffice.org software instead of paying Micro$oft? I have been using this for about 10 years.

I haven't used GoogleDocs but I imagine this product also meets the needs of most people.

 

[2017ish]

Just out of curiosity, why would people not use free OpenOffice.org software instead of paying Micro$oft? I have been using this for about 10 years.

I haven't used GoogleDocs but I imagine this product also meets the needs of most people.

I have office on home PC solely because I am still working. The alternatives won't handle the complexity of documents that we create at the office; every once in an unpredictable while, I need to open one up and modify at home.

Won't replace this software whenever my computer dies though (as long as it is after July).

 

[NW-Bound]

Count me among those who have reluctantly paid for a new copy once every 3 years, but will look for an alternative when they pull this shenanigan.

It's too bad that I just bought Quicken 2017 last month, but have not installed it yet. I would not have if I knew, and bought it because the 2014 copy that I have will stop transaction download soon.

Well, this 2017 copy will give me a bit of time to learn to use GNUcash. If the latter works out decently for me and I use it, I will make a donation equivalent to the price of one copy of Quicken.

I knew of GNUcash, but have been too lazy to check it out. Now, I have an impetus. Bye bye Quicken.

 

[Hermit]

Just out of curiosity, why would people not use free OpenOffice.org software instead of paying Micro$oft? I have been using this for about 10 years.

I haven't used GoogleDocs but I imagine this product also meets the needs of most people.

When DS was in high school, he thought he could switch back and forth between OpenOffice and MS Office products. It made a mess of his documents. I think it was his first experience with software compatibility issues.

I keep my financial plan in MS Word. It is very complex with embedded Excel files, extensive cross-referencing, etc. No way could I use OpenOffice with this document. I have not had a reason to upgrade software. When I do, I may need to simplify and switch to OpenOffice. I don't care too much for Google data mining although I use them for a lot of stuff.

 

[tulak]

+1 for Google Docs.

I moved away from excel years ago, after I got tired of having to figure out how to import stock quotes into a spreadsheet.

It's free and I can access everything from any of my devices.

I'd never go back, not to mention pay for any of these apps. I asked my teenagers and neither of them have ever used MS office. They use GoogleDocs for all their homework. Changing times...

 

[jimbee]

Just out of curiosity, why would people not use free OpenOffice.org software instead of paying Micro$oft? I have been using this for about 10 years.

I haven't used GoogleDocs but I imagine this product also meets the needs of most people.

I have no idea, unless MS Office is needed for work or school compatibility. I've been using Star Office/Open Office/Libre Office at home for over twenty years and it's worked fine for me.

 

[aja8888]

I'm still using Quicken 2006 and getting by.

But I really gave up tracking a lot of spending as it was turning out to be a waste of time and effort. I just use Quicken to manage our checkbook. 25 years of records are OK to look at but life changes made the data more of a history rather than anything I can use today.

 

[rodi]

I'd never go back, not to mention pay for any of these apps. I asked my teenagers and neither of them have ever used MS office. They use GoogleDocs for all their homework. Changing times...

Our school district has officially moved to google docs for students and teachers... It's great - they do the work at home or at school and it is automatically shared with the teacher... no printing out and turning it in. This has dramatically reduced the drama if we happen to run low on printer ink the morning a paper is due. Each student has an google account associated with their student id and domained on the school district's domain. I have a feeling this is the wave of the future. (Our district, San Diego Unified, is in the top 20 school districts, by size, in the nation.)

 

[zinger1457]

Question for those Quicken users who currently use an older version of Quicken (before 2014) that no longer supports online downloads. Can you still import QIF files or is that also blocked?

 

[aja8888]

Question for those Quicken users who currently use an older version of Quicken (before 2014) that no longer supports online downloads. Can you still import QIF files or is that also blocked?

I recall importing QIF files a couple of years ago from one of my credit cards once I downloaded and saved the file. But I don't bother anymore since it was a business CC and it's not used anymore.

 

[NW-Bound]

As mentioned earlier, I already bought Quicken Premier 2017 but have not installed it yet.

Out of curiosity, I downloaded GNUCash, installed it and imported Quicken QIF file. It took a long time to import it. Something like 1 hour, and the file only has transactions going back to 2011. Ugh! It looks like it is going to take a lot of work to massage the end result. Also, GNUCash looks more like for business use, and not suitable for me.

Then, I also downloaded KMyMoney to try it. It imported the same QIF file a lot faster, but the result also shows some problems, such as my checking account having a balance of -$475K! Looks like a lot of deposits or transfer-in's are missing... Money goes out, nothing comes in.

What I need is something more like MS Money and Quicken. I want to be able to see my equity holdings across all accounts (his/her IRA's, 401k's, Roth, etc...). And having a lot of individual stocks and ETFs, I do not want to have to enter by hand every dividend payment, or every trade that I make.

On the Web, Personal Capital is given a very high rating. I have enough for today, but will check that out next.

 

[aja8888]

On the Web, Personal Capital is given a very high rating. I have enough for today, but will check that out next.

Isn't this the service that requires you to give them your financial accounts usernames and passwords in order to gather your transactions and data?

 

[NW-Bound]

Uh oh! It does look like it.

 

[rbmrtn]

Question for those Quicken users who currently use an older version of Quicken (before 2014) that no longer supports online downloads. Can you still import QIF files or is that also blocked?

QIF was discontinued some time ago ( 2005). OFX is the standard, with quicken using its own version, QFX. There are 3rd party tools that convert formats

https://www.quicken.com/support/qif-import-frequently-asked-questions

https://www.propersoft.net/conversion-expert?from=ofx&to=quicken-pc-2015

 

[NW-Bound]

My copy of Quicken Premier 2014 offers exports in both QIF and QFX formats. I tried both, and the QIF file size is twice as large as the QFX.

QIF is a text file, while QFX is binary format, so that explains the size difference.

 

[zinger1457]

QIF was discontinued some time ago ( 2005). OFX is the standard, with quicken using its own version, QFX. There are 3rd party tools that convert formats

Yes, I was aware of that but importing QIF files is still offered as an option in Quicken 2016 although I've never used it. My bank (Chase) does offer account data downloads in both QIF and QFX format. I'm pretty sure the ability to import QFX files is disabled once you reach the 3 year mark.

 

[explanade]

I just did the 3-year upgrade to Quicken Premier 2017. I'm planning on retiring this July, and am about 1 year into the process of simplifying my finances. I guess I'll be switching to an Excel spreadsheet sometime over the next year or two...

I use a Numbers spreadsheet (Mac) to track all my spending. I don't really do any budgeting in terms of spending x per month and comparing my expenditures to that sum or forecasting cash flow.

So a simple spreadsheet works for me.

For investment tracking, I use a Google Sheets spreadsheet with heavy use of the GoogleFinance function to update share prices. I learned about the GF function from someone who posted it in an ER thread.

 

[explanade]

I'm still using Quicken 2006 and getting by.

But I really gave up tracking a lot of spending as it was turning out to be a waste of time and effort. I just use Quicken to manage our checkbook. 25 years of records are OK to look at but life changes made the data more of a history rather than anything I can use today.

I use an old version for the Mac called Quicken Essentials.

When they stopped automatically downloading transactions data for all the accounts I'd set up, I started just updating manually because QE still will update share prices. I just have to update shares for DRIP or whatever.

But I had to delete the automatically-updated accounts and recreate them for manual updating.

That was about a year ago.

I don't really need Quicken any more but I continue to update out of habit. This means manually downloading some QFX files and manually entering transactions for a Schwab checking account.

My Google Sheets will update prices and I can manually update it faster than I can QE.

One of these days I'll probably stop bothering.

 

[CDRE]

Thanks to all that have posted information about competitors to Quicken. I'm thinking a good plan is to purchase Quicken2017 and install it just before Intiut's looming subscription model kicks in. Over the next three years, perhaps computer programmers that currently use Quicken and despise its extortion subscription model will lend their talents to GnuCash.

 

[Cobra9777]

Just out of curiosity, why would people not use free OpenOffice.org software instead of paying Micro$oft? I have been using this for about 10 years.

I haven't used GoogleDocs but I imagine this product also meets the needs of most people.

I still use Microsoft Office 2010. Megacorp had an enterprise license that allowed download onto personally-owned PCs that were used for work purposes. I installed it right before I retired in 2013. I mainly use Outlook, Excel, and Word. I spent a career using those programs, so old habits die hard I guess. My kids think I'm a dinosaur. At some point, I'll get on board the cloud-based alternatives or possibly OpenOffice.

 

[audreyh1]

Question for those Quicken users who currently use an older version of Quicken (before 2014) that no longer supports online downloads. Can you still import QIF files or is that also blocked?

I have a couple of financial institutions where the QFX doesn't seem to work properly (or stopped working properly - like Chase) but QIF does import. It doesn't work as well, but it does work.

 

[Gotadimple]

Just out of curiosity, why would people not use free OpenOffice.org software instead of paying Micro$oft? I have been using this for about 10 years.

I haven't used GoogleDocs but I imagine this product also meets the needs of most people.

Because if you want to use a database, the Open Office version is incomplete. I used OO for years and was very satisfied. Then I needed to create a small database for an event project. Could set up the database, but there was no reports module! I'm not a developer by occupation, at most I write a few macros. So I consider the annual fee for Office 365 a cheap way to get MS Access.

Rita

 

[CaptCurmudgeon]

Question re: your bank account info on Quicken

I have taken an extended hiatus form these forums but I am back now.

Based on this thread I have decided to mothball my Quicken 2016 and move to Moneydance. Trying out the 30 day trial version with a few minor glitches that I worked out so it looks like it will be a keeper. My question is I used the One Step update function in Q2016 so I had to enter in my bank account info; I never saved to Quicken my passwords. I intend from now on just to download my transactions via QIF files and import them into MD which works just fine. Does Quicken itself have my bank account information from using Q2016 or does it reside locally only. If online how would I delete it as I will never use One Step Update again even if I go back to Q2016?

Thanks!

 

[REWahoo]

I have taken an extended hiatus form these forums but I am back now.

Your last post on the forum was 10 years ago. Yep, that's quite an extended hiatus...

 

[JoeWras]

Your last post on the forum was 10 years ago. Yep, that's quite an extended hiatus...

Well he/she is a curmudgeon after all.

Welcome back CaptCurmudgeon! Thank you for your input, a lot of us are in this boat and wondering. Your sharing is appreciated. Please stay for a while this time! After reading NW-Bound's experience with GnuCash, I'm worried and thinking about going with Moneydance or MS Money. Appreciate your experience.