Update: The giveaway has ended and the winners will be announced shortly.
Note: This is a long article containing an in-depth review of the new version of Quicken. If you are just interested in the giveaway of Quicken 2010 Deluxe, scroll to the bottom of this article.
It took me a long time to warm up to Intuit Quicken. When I first saw the software in the early or mid 1990s, I wasn’t very interested. That’s not the software’s fault; at that time I most likely did not see the need for tracking money I did not have. When I finally realized I needed to build some control of my personal financial situation, I first looked for free solutions.
After several months of spending less than I was earning and tracking my progress using freeware, I evaluated Microsoft Money alongside Quicken. Money looked nice and ran smooth while Quicken was clunky and unattractive, so I stuck with Money for a few years. After some time, I came to realize that Money’s features for dealing with investments were not as comprehensive as I would like, and for some reason it interpreted the downloaded data from my 401(k) incorrectly. I decided to give Quicken another shot.
While Quicken wasn’t perfect, it worked better with the transaction data I downloaded from the banks and offered configurable reports. So I stuck with it, and I still use a desktop version of Quicken almost every day. I receive questions about why I haven’t switched to popular Web 2.0 applications like Quicken Online (review here) or Mint.com (review here). These websites offer interesting features, particularly those powered by community aggregate information, but they lack some of the basic investing functionality that I get from the desktop version of Quicken.
Quicken 2010 review, first impressions
I received Quicken 2010 Home and Business in the mail yesterday and gave it a test drive tonight.
The upgrade from Quicken 2009, including downloading updates to the software online, took about ten minutes. Tens of thousands of transaction records needed to be converted to the new version, and this took the bulk of the time for the upgrade.
After the upgrade was complete, the software brought me to Quicken.com to register. Although I am already registered at Intuit, I was required to provide my information again before using all of the software’s functionality. Although required, the registration process was quick.
I was impressed with the new version’s look and feel. The interface is redesigned to be cleaner, and switching from one page to another within the software seems to move faster. One of my biggest complaints about Quicken has been its sluggish display but this seems to be greatly improved.
Quicken 2010 opens to a new main screen with three horizontal sections. The top includes a pie chart describing your spending within categories and the middle of the screen lists your anticipated expenses.
The focus here is on your cash flow: how much is left in your spending accounts at the end of the month. Here is the top half of my screen. Click on the thumbnail to view the image full-size (and note the exceptionally large tax expense thanks to quarterly estimated payments).
The bottom section of this screen is new. According to Quicken, it would take 5 minutes to begin tracking spending goals. I began creating spending goals, which seem to form a softer style of a budget. Unfortunately, because I use sub-categories, Quicken’s “average monthly spending” in categories like “Auto,” “Dining,” and “Entertainment” were inaccurate. As a result, the “suggested monthly goals” were not appropriate. I solved this by choosing my own categories, such as “Auto:Fuel” rather than “Auto.”
After assigning several categories to watch, here are my results so far for October.
I also like the new Net Worth tab. Here is what the top half of my Net Worth page looks like.
Downloading data from banks
The “Direct Connect” feature of Quicken, in which you store your bank accounts’ passwords in the software and send Quicken on a mission to download your latest transaction data, has never run smoothly for me. In Quicken 2009, this process would occasionally lock the software, requiring me to kill the process through the Windows Task Manager. Furthermore, this downloading should be a background process. However, whenever you initiate the data update, you are preventing from performing almost every other task in the software.
Quicken 2010 has not fixed this completely. During the update process in the new version, Quicken will prevent you from moving around the software.
What to look forward to
All things considered, this seems to be a good upgrade with my limited experience so far. But like most yearly, incremental software updates, there is not a lot to justify buying the software if you already have a recent version of Quicken.
The best news from Intuit is not reflected in Quicken 2010. As a result of Intuit’s pending acquisition of Mint.com, the CEO of Mint.com, Aaron Patzer, will be leading the development of the desktop version of Quicken in addition to the online personal financial management software. I expect future versions of Quicken will look slicker and work faster as Intuit leverages the team and the talent behind Mint.com.
Latest prices for Quicken 2010 versions
Before you buy, consider trying to win the giveaway for Quicken 2010 Deluxe. Instructions for entering the giveaway are below. Free is always a better option. Also, Intuit often offers discounts. Right now the software is offered for full price only. But keep watching Consumerism Commentary to find out when new discounts are available.
If you’re a Mac user, hang on until February 2010. A new version of Quicken for Mac will be released next year, and Intuit says the will be a major upgrade from the most recent release. Alternatively, you can run software on the Mac that emulates Windows and allows you to run these updated versions of Quicken.
Giveaways
Intuit sent me two copies of Quicken 2010 Deluxe to give away to readers. Here is how you can win one of these copies. Each of the following will provide you with one chance to win, so you have a maximum of three chances.
- Leave a comment on this post.
- Become a fan of Consumerism Commentary on Facebook and let me know in your comment below.
- Mention and link to this review on Twitter. Your tweet should say:
Pls RT! Review and giveaway: Quicken 2010 from @flexo! http://bit.ly/RjD3y
You must be over 18 years old and must have an address in the United States in order to qualify. The winners will be chosen using the random number generator at random.org. Thanks and good luck! The giveaway will end Friday night, October 23, at 11:59 pm.
Update: The giveaway has ended and the winners will be announced shortly.
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{ 145 comments… read them below or add one }
I would love to win. I am having to redo my budget to find money to send two kids to college.
Great to hear about the new release of updated Quicken 2010. Can’t wait to get it!
I hope I win!
Please enter me in the contest.
Throw my name into the basket to win.
I would love to win the new Quicken 2010!!!
My entry.
I wish the mac version came out sooner than February!
Also, a fan on facebook. I would have edited that into the previous post, but for some reason, editing won’t work for me (when it goes into edit mode, it won’t let me do anything but use the toolbar at the bottom for some reason). Sorry for the double post.
I’m so happy to hear the interface has sped up. That is also one of my complaints. So is the transaction downloads. Hopefully, they allow for a better way to export our data from Quicken. I hate being locked in to it (no pun intended).
I wouldn’t mind a free upgrade either.
Since I won’t be able to use MS Money anymore soon, I would love to win the new version of Quicken.
Thanks!
I would love this! Thanks.
I would like to receive a copy of Quicken 2010.
Sign me up.
Enter me for the drawing!
Great review, thanks for the chance to win!
Also, a fan on facebook.For some reason I can’t edit my previous post.
Good article. I’d love a free copy!
I have Quicken 2006. They just cut off the online banking feature because the version is too old. Sigh. So I’d love to win!
I am hoping to get Quicken 2010 since my tried and true MS Money is no longer being supported by Microsoft. Did you have any problems transferring your MS Money data into Quicken when you made the switch?
I would love to win. I’ve been using MS Money since the 90s but the online capabilities are no longer supported. Therefore, I’m considering switching to another software.
I have been using quicken for quite a while. This new version looks great
Is it worthwhile to update my 2008 version to 2010 version?
I’ve used Quicken since about 1995 and upgrade about every two years. Never had the problem you describe (process hang) with the online banking updates… but occasionally an update with one institution will fail and needs to be reattempted. I’d love it if Intuit provided a little more transparency on what is occurring during the updates (even a debug log). Thanks for the review!
Been using MSFT $ 2002, would like to upgrade. Appreciated the opportunity.
Also became a fan on Facebook.
Thanks
3x entries for me. I got MSMoney at the employee discount price from friends who worked MS, so I use to use that. But eventually I got lazy and stopped. Now I just have a google docs spreadsheet to track my net worth and that’s about it. Sometimes stuff slips through the cracks though.
Great article. I’m feeling lucky! Enter me to win Quicken 2010!
Quicken is on-sale at Best Buy for $59.99 versus $89.99. I got a copy yesterday, so don’t sign me up for the giveaway. I too liked the increased responsiveness and my install and conversion went smoothly. I really liked the Cash Flow page in Q 2008 and at first I had trouble finding it. Thankfully it’s still there under the planning tab. So far I’m satisfied with the program’s performance and will spend a lot of time exploring the various functions. Even at $60.00 it’s a little pricey for little more than a facelift but I’ll keep looking for the reports, analyses, and function that best suit my needs.
I would like to win the new Quicken!
Wow, great review. I haven’t used Quicken since ‘03. I may have to look into this updated edition.
I’ve been a quicken user for years, and though I have some frustrations, I don’t see myself using anything else. I have no problems downloading transactions. I do have trouble with the spending tracker. I can never get it to report the ‘total remaining’ correctly.
Thanks for the honest review. Basically you’re saying that my biggest gripe about quicken is still there, the fact that it creates superstitious behavior while downloading transaction updates. It locks up the interface for a very long time, which is a slap on the wrist for any software developer – have they not heard about spawning a background thread and event queues? This time although one might think it’s a small gripe, when you’re deciding to sit down and do your finances and you have to wait 15mins to get the updates, and you can’t do anything but watch the stupid animation, you’re going to open a different application and do something else. Then your zeal to update your finances will be gone by the time the updates are done (or not done as sometimes happens with my present 2009 version), and you’re left scratching your head, if you had to manually update these in the first place, why didn’t the software tell me?
I still use it, but it’s quite useless as a piece of software to actively manage my finances. It’s more of a overall picture of my finances and a planning tool for me.
The 2008 version is good, but 2010 would be even better :-)
I would to win me some new Quicken! lol
I have always used Quicken. Would love to win this.
tweeted
http://twitter.com/hminnesota/status/4919124886
Would love to have this
I’m a facebook fan
tweeted http://twitter.com/dolls123/status/4919168083
I won last year! How about a winning streak?
Became a fan and would love to be entered in the giveway.
Alan
I’d love to win a copy of Quicken 2010!
I could really use this but can afford to buy it right now. Thanks for the chance to win it!
I’ve just found this site googling “help living on a budget”. Your articles are the first I’ve found that have given me any straight answers. Thanks. I’ll be back often.
Would love to win.
I’m entering the Quicken contest. Thanks!
I became a fan on Facebook and I tweeted here: http://twitter.com/alee67/status/4919394594
Thanks for the chance to win!
Thanks for the review, Flexo! I’ve been a Quicken user for quite some time and have found it pretty valuable, though there are usually diminishing returns with the annual updates. It’s been a few years, though, since I upgraded, so thanks for the chance to win!
Great site! So much useful info. Not getting much else done!!!
Oct 23rd is my daughter’s b’day so maybe it will provide me with
a bit of luck to win the copy of Quicken!
I’d love a copy , sign me up
Very helpful review of Quicken 2010. Thanks.
Great Review.
Thanks for the giveaway!! Please enter me in the drawing.
I just tweeted about this.
http://twitter.com/goalmom5/status/4922335681
Would love to win Quicken 2010!
I don’t use twitter, so i’ll settle for 2 chances out of 3 — I became a fan on facebook :)
maybe i’ll finally update my 2006 version!
Stephen
I’m in..thanks!
I would love to try out the 2010 version of Quicken!!!
I have been using Quicken since 2002 and am currently on v2008. Would love to test and compare the new version.
Thanks!
i love free
I would love to win a copy!
I’d like to win it. Thanks.
Have used Quicken for 10+ years. Currently using Quicken 2007 and see no reason to upgrade except Intuit is notorious for dropping support for older software. So, please enter me in the drawing.
Would love to win a free Quicken 2010 Premier version
Thanks for the review. Would like to win!
I’ve love a chance to win a copy of Quicken 2010!
I check your site every day so I can learn to improve my money management. Winning a Quicken copy would only help !! Whether I win or not, Thank You!
Good review. I too like the Net Worth Over Time graphs (MS Money had it too). It gives me a sense of how I’m doing compared to past months.
Great review. I always get started with Quicken for the year, but soon get frustrated and give up. Maybe 2010 will be different…
Thanks for throwing my name in the hat for a chance to win,
I love Quicken! Pick me!
My son is in accounting and has to use what his company dictates but at home… it’s Quicken, by choice.
Thank you for the review. Please include me in the Quicken 2010 giveaway contest. I need a good budgeting/personal finance solution to benefit my large blended family…which includes myself, wife, our kids, step kids (mine & hers), foster kids… nine total just like the Brady Bunch family except no live-in housekeeper.
I wouldn’t mind winning a new version as well. I’m running Quicken 2008 and I’m not being inundated with $10 off upgrade offers from Intuit. I think that works out to $50 for the 2010 edition, but I think I’m going to let it go one more year before I upgrade. I’m amazed about how they don’t seem to really upgrade the engine, but do more to upgrade the look of the software each year. Just like the author, I seem to constantly have stability problems around downloading transactions. So much so, that I don’t even bother with my investment accounts anymore because it seems impossible to easily get them to match up.
Thanks for the timely info. Please enter me as I would love to win one!
I was a MS Money user for years. Just bought Quicken Premiere 2010 after tinkering with the free online Quicken. I’m really upset that most of my financial institutions don’t have available synching/transaction downloading, including my two retirement plans: TIAA-CREF and New York State Deferred Compensation Plan; and my Capital One checking and savings accounts. The setup screens declare that it’s “Unavailable.”
Capital One worked with MS Money and the online Quicken. The bank’s website indicates that they connect to Quicken, but they must mean the online version, not the expensive application.
You should check on your institutions before you buy Quicken 2010.
This is the first and most comprehensive review of Quicken 2010 I have seen. Thank you.
Looks awesome…enter me
Please add me to the drawing. I have been wanting to try quicken, but $100 is a lot to spend to try it.
I’d love to win one of those copies. And by the time you have the drawing, maybe they’ll have a few of the early bugs worked out.
I am a veteran user of Quicken, since DOS versions, but had to give up on Q2009. I’m using Q2008 and hoping this new version will have solved the problems.
Please add my name into the drawing. Facebook fan also..:)
Please enter my name to win.
I’d love to give Quicken a try… I’m disappointed at Mint, and did not want to go back to MSN Money (althoug I liked it)
Maybe this is my chance to try Quicken!!
I’ve been strongly considering upgrading, so throw my name in the hat. I’m also a fan of CC on Facebook (as Mike Cleverdude).
Soon to be former MS Money user – looking to switch to Quicken…
Thanks for the giveaway!
Hoping to win!
Would love a chance at winning a copy!
count me in
Sign me up!
Sure would like to upgrade my version of Quicken.
Sign me up! Please please please?
Facebook fan, and left a Twitter too!
Yes, I would like to win a copy of Quicken. I have been using Q07 Premier and don’t have much time left to use it!
Enter me. Free is always good.
Would love a copy of the software.
I too came to use Quicken by way of Microsoft Money. I wait until a version has been out for a few months maybe a year and then locate the lowest price for the current year’s version. Then I make use of websites such as yours to try and determine if it is worth the trouble and cost to upgrade to the latest version. It would be nice to be able to test or bench mark the new version but it seems like you must buy to try! Since I am using the package for banks and credit cards in a non business environment, I can afford to wait in hopes of spending as little as possible to upgrade. Your website seems to have a common sense approach that works well for me. I prefer to be current at the same time I like good deals as well! Thanks for the review!
Howard
I would love to get it.
Thanks!
Me, too.
Free is great.
I actually have been using Quicken since Version 1. I only upgraded every 2 years except last year when the change in downloading bank data was changed. I have been very satisfied with the program.
Nothing much has happenned in quicken since 2008 edition.
Thank you for reviewing the new Quicken. Sounds like a decent upgrade from the 2008 version that I’m currently using.
One feature that Quicken has never handled satisfactorily is handling non-taxable Mutual Fund mergers, where one fund becomes a slightly different one for a variety of reasons. There is a way to do this using Corporate Takeover entries but this is not obvious to most users when updating with Direct Connect. Most institutions show a remove and then an add transaction. If the user simply allows these transactions to be accepted, they lose all their cost basis calculations. It would be nice if Quicken could detect these type of entries and tell the user it suspects a Mutual fund merger so that this could be handled in the proper fashion maintaining cost basis.
I would love to win a copy of Quicken 2010… even though I still use and like MS Money. I’ll check you out on Facebook.
Thank you for your kind offer.
Last time I tried Quicken was in 06 and I couldn’t get into it. I’d love the opportunity to try again.
Thanks for the honest review. I was hoping the downloading bugs from the financial institutions were fixed. Oh well, maybe next year!
thanks
I have used Quicken for some time now and I have been very pleased with the program. The only drawback is that every 3 years or so, you need to update to the new version because your current version stops downloading from your financial institution.
Great Idea to boost visits!!
I have been using Quicken consistently since 1996, upgrading every year, except for 2009. My biggest complaint has always been that you cannot easily do a forward looking “zero based” or “envelope” budget in quicken. It seems the latest version (and possible 2009) are trying to move in that direction. My question is, can you set up Spending Goals by category groups instead of categories, to get a less granulated view of your spending patterns.
I’ve been a quicken user since the mid 90’s. Normally update once every three years. Quicken 2010 would be a year earlier than normal, but I’ll sacrifice and do it early if I win.
I’ve never used financial software before, but Quicken seems to have all the features I’d want!
I’ve been a long-term user of Quicken (since 2002) and would love to upgrade to the newest version.
Mint.com solved the biggest problem I had with desktop programs like Microsoft Money and Quicken, namely that downloading transaction data was a nightmare. I’m happy to hear that the Mint team will be working on Quicken.
I’m a Facebook fan too.
I’d love to win the Quicken 2010…if I don’t win it I will have to buy it. Based on your review I am willing to give Quicken a try although it will be difficult to part with MS Money.
Please enter me in the the drawing. I’m a Money user, but need to check out something new now that Microsoft is discontinuing it.
Thanks for the opportunity!
I also became a Facebook Fan!!!
Please enter me as well and thank you for the review. I’m a Quicken 2009 user and would very much like to upgrade (especially for free) :-).
I Win!
ADDITIONAL COMMENTS: I’ve used Quicken since DOS versions. (Before that I used Managing Your Money – which REALLY dates me!) I think there is a great difference between veteran/experienced Quicken users and the folks who started their financial management experience with something like MINT.
Quicken has its problems with constant revisions, which sometimes take away favorite features and add some that we could live without. But it does allow you to really track everything you need to know about your financial situation. You don’t have to keep track of every time you put 25 cents into a parking meter unless you want to, But I can get marvelous reports at tax time, keep track of loans and debts, investment history, and small business activities.
I’ve played with MINT and it’s fine just to see what you’ve spent and earned, but there is, so far, no way to enter check you write that have not yet cleared, so you really don’t know what your balances are when planning an expense transaction. And, if the web goes down or a cloud server loses its data, you’re up the creek, not having records on your desktop.
It’s going to be interesting to see what Mint does with Quicken in the Merger, since Mint’s leader is becoming head of the Quicken products.
Would love to have a chance of obtaining the new version of Quicken 2010 Deluxe
Great article. I have been looking for something else to manage my finances since Microsoft Money is no more, maybe I can win!!!
Also I am now a fan of Consumerism Commentary on Facebook!!
Really nice review, will deffinately be buying a money management software soon to help with my finances.
Informative article. I am a long-time Quicken user, and am anxious to try this new version.
Fan of you on Facebook
Tweeted here:
http://twitter.com/CleverGayle/status/5073981240
Thanks!
Thank you for the valuable information. I was hoping that I could use the software during the updating process with this version.
Robert
I became a fan on facebook too. Thanks for the chance.
Bob
Ahh…nice to see a mention of Managing Your Money in the comments above….takes me back a ways. I’ve been a Quicken user for years and years, and the one feature that keeps me with it is the Savings Goals. Once someone replicates that, I may be one my way out (but I hope I win the Q2010!)
Ditto on the drawing.
Any improvement to Quicken’s [non-existent] integration with Excel? In 2009, when you output to Excel, you don’t get any formulas (i.e., a total in a column is just the number, not the sum of the other number). This impedes any kind of analysis or modeling in Excel.
Is there any way to import a budget that you created in Excel?
Thanks
Thanks for the review, it’s too bad Intuit has sort of slowed down in the innovation department, but maybe the Mint acquisition will help with Quicken 2011. I won’t pay to upgrade, but I’ll take a free copy any day.
Hey there! I did the facebook fan thing, the tweeter thing, and am leaving a comment to let you know that I’d love to win the copy of Quicken. My mom is actually a long-term Quicken user, and this would be a great Christmas gift for her.
I am seriously contenplating my own business and this would come in very handy..
1. I became a fan on FB
2. I tweeted the message on twitter
3. Leaving my comment on this website :)
Good luck everyone!
would love to win!!
Good article. Like your stories and this one is no exception.
Truth be told, I have nothing to say, just want to win the free copy :)
The giveaway has ended as of 11:59 PM ET and the winners will be announced shortly. Any comments below this do not qualify.
I have recorded every check I’ve written and cash spent since December of 1991, in Quicken– I have run a small business since April of 1998 and have keep all my book work in Quicken. I also manage an apartment building, and keep all my rental information in quicken. Currently I am using Quicken home and business 2003 and would love to try the new version. I download my bank accounts and paypal into my Quicken program, and would like to get a Quicken version of POS system for my store. I love Quicken and highly recommend for personal and business use!!!
Dawn…HOW are you downloading into Quicken Ho/B 2003? They don’t support downloads beyon Q1007 currently.
Hi, it’s a great article and great review. I believe that you might have missed to review a very important feature of Quicken.
As when Quicken released first few releases (1992), I have bought and happily used them, every week or other day, I input manually each transaction, which includes checks deposit, checks cashed, credit card transaction, then when I receive the statement of each bank, I do compare them. T
hen slowly after 4-5 years, banks allow their clients be able to download they online statements in Quicken or Money format, I was happied to download them each month and imported to Quicken.
If I remember correctly, started from 2002-2003, Quicken was able to download the statements/transactions directly from the banks, It put me at easy, which have saved me lots of time.
And for the past three years, Bank of America, has allowed their clients to not just download the text transaction, they do allow their clients ALSO to download the bank checks images (front and back) for each checks deposit and checks cashed. I
am still using 2006 version, 3 years ago, I have called Quicken tech-supp and expressed my request/wish/expect that Intuit improve/enhance/add the feature that could automatically download also the check images that available. I guess, maybe there are not much demand; therefore Intuit did not implement this feature.
Now a days, the storages in PC and Internet bandwidth no longer an issue. and would be great that you can review and commend it. if you add your comment in your review, I bet, Intuit will wake up their developers and marketing team.
I would not absolutely purchase another release of Quicken, just because, they have improved the cosmetic and GUI. I will wait and will upgrade every 4-5 years/releases. But, once I know they implemented that feature, I will run out buy a copy at once.
To whom that does not have Quicken yet, it’s maybe worthy to buy it, people can buy older version for much cheaper cost – unless you just upgraded or have Windows 7, then you may have to buy 2010 version.
My bookkeeping for our business would be streamlined and so much easier with Quicken 2010. Thanks for the information and drawing.
For a home business I think quicken home & business is probably fine, but for larger business you may want to look at Quickbooks which is also an intuit product.
I would surmise that your Quicken lock-ups are a system issue, not an issue with the software. A nice way to get around the data download issue is to use Scheduled Updates (found in the Online Menu > Schedule Updates). Make certain to put a check next to the Financial Institutions you want to download.
You should have a period where you can return it if you are not satisfied. I believe it is 60 days.
It would be wonderful if I could Quicken my business financial data. (pun intended) I am a Facebook Fan