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We’ve always been fans of Quicken here at Consumerism Commentary, and we’ve got a lot of reviews floating around to prove it. But you don’t really need reviews of Quicken from five years ago. You just need to know what to expect from the latest version: Quicken 2017.

Here, we’ll give you the highlights, and we’ll also talk you through the basics of using this interface.

quicken guide

The Highlights

Quicken still provides everything you’ve come to expect, including the ability to track all of your money in one place. If you’re big on tracking your net worth, it’ll help you do that. It tracks both assets and debts, and it will also track investments. (Though if you’re a serious investor, you may want to upgrade to Quicken Premier.)

What’s new with the 2017 version? Not a whole lot has changed, but there are a couple of upgrades you should know about, including:

  • Mobile: Now you can download the Quicken app to track your investments and budget on the go. The mobile app has a nice interface with everything you’ll find in the desktop version. Plus, you can add budget line items as you spend.
  • Advanced Search: You can find mobile transactions more easily with the mobile advanced search feature.
  • Refresh: Quicken got a refresh this year. The screen looks nicer, and the interface is a little more user-friendly. It’s not a major overhaul, but it’s easy on the eyes.
  • Zillow: You can connect with Zillow to automatically import your home’s estimated value. While Zillow may not be the most accurate option if you’re actually getting ready to buy or sell a home, this is a simple way to get a ballpark idea of your home’s value when calculating your net worth.
  • Alerts: You can get alerts sent to your phone or email inbox when bills are due or when you’re about to go over your budget.
  • Receipt Storage: Need to track expense receipts, but tired of paper clutter everywhere? You can snap photos of your receipts and store them with the mobile app.

Related: How to Track and Manage Receipts with Google Docs

Once you get set up, keeping track of everything in Quicken is relatively simple. Here’s what it all looks like:

First, import your accounts

As with other popular budgeting and financial tracking software, Quicken will automatically sync with your bank and credit card accounts, as well as your investment accounts. This makes it easy for you to track transactions without having to enter them manually.

In fact, the very first thing Quicken asks you to do after you enter your credentials is to sync a new account. To make it happen, you’ll just need your account’s login information. You can import all sorts of accounts, even to the basic version of Quicken, though investment tracking is more robust with the higher-level versions.

Next, check your recent transactions

When your accounts are imported, it can seem a little overwhelming at first. Quicken automatically categorizes your transactions, but you’ll likely have to go through a recategorize many of them. Quicken will give you the last thirty days’ worth of spending information to work with.

I do like how the system breaks everything down graphically. Once you set all of your transactions into categories, you can see what percentage of your budget goes to each category, and check out a corresponding chart breaking down your spending. It looks like this:

Quicken 1

You can see that Quicken will alert you when there are uncategorized transactions. You can click into that directly to see those transactions. Then, you can sort your transactions by account, date, and type of spending (with or without taxes).

You can also click into spending categories to figure out which transactions Quicken has placed into which categories. Chances are you’ll want to change some of those if you’re a budgeting stickler!

Quicken 2

Related: A 10-Minute Budget That Actually Works

Try the bill reminder system

Once you’ve been in the spending category interface, you can use the bill system to remind you when your bills are due. It’ll look at your last two months’ worth of transactions and find recurring bills and their due dates. The system will also track any paychecks you have automatically deposited to your bank account.

Quicken 3

You can then set up the reminders, which will alert you when bills are due and project your checking account balances over the next 12 days, based on your upcoming income and expenses.

Quicken 4

Since it’s not accounting for one-off spending like groceries and gas, this balance isn’t very accurate. At least not for me! But it can be a helpful way to stay on top of your bills so you don’t miss any due dates.

Learn More: Track Your Cash Flow with Google Docs

You can also sign up to have Quicken actually pay your bills for you. This requires a validation of your bank account and a monthly payment of $9.95. Since many banks offer free bill pay services, this one may not be worth the additional spend.

Create a budget

As with other pieces of this interface, Quicken will automatically create a budget for you based on past spending. However, this spending is according to Quicken’s categorizations. If you think Quicken has gotten a few things wrong, it’s best to re-categorize your existing transactions before delving into the budget tab.

Once you do, though, you can get access to a quick budget that you can change from there. The budget interface now looks very similar to Intuit’s Mint.com, which features slider bars to show how close you are to the budget limit in each category.

Quicken 5

You can, of course, change the budget for each category depending on your preferences and needs. You can also look at the budget in terms of only certain bank accounts, toggling between transactions in each account on the left sidebar.

One of the interesting things about this budget interface is that you can run various reports. These come out as very nice, color-coded documents that you could print off or store electronically, for an over-time view of your personal finances.

You can run reports for a variety of scenarios, including spending by category, spending versus available budget, income versus expenses, or spending for the month versus average spending by category. These over-time reports will become more useful the longer you use Quicken, which gives it more data to pull from. But some of the reports look like this:

Quicken 6

These reports could be really helpful if you’re trying to meet specific financial goals, like reducing spending in a few categories or tracking your budget over time.

What about upgrades?

My review has been based on the Quicken Starter option, but there are other options currently available, too. Here’s a quick breakdown of what they offer:

Quicken Deluxe

Quicken Premier

Quicken Home & Business

Quicken Rental Property Manager

Is Quicken right for you?

Quicken offers a load of great features, and its new interface is definitely more user-friendly than the last version I reviewed in 2014. If you want a one-stop-shop for tracking all of your personal finance details — from budgeting to investments to debt — then Quicken may be a worthwhile investment.

With that said, I don’t think I’d pay for the basic version of Quicken when free tools like Mint.com can do basically the same thing. My personal preference for budgeting is YNAB, though it does come with a $5/month fee.

However, if you want to add investment tracking and detailed financial planning into the mix, Quicken Deluxe might be a good option for you. And, of course, if you run rental properties or a small business, you can’t go wrong with the robust business-oriented versions of Quicken.

So, tell us: do you think Quicken is the right option for your personal finance tracking needs?

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Budgeting doesn’t come naturally for everyone. Some of us need a little assistance with tracking our income and spending. That’s where budgeting tools come in.

There are several front runners in this space. Many of them offer a wide range of features to help you manage your money better. Here are four of the best budgeting tools that we’ve found:

Personal Capital

Personal Capital is a money management tool that tracks your investments and other financial accounts. What’s great about Personal Capital is that it’s an all-in-one tool. Not only can you track things like your net worth and portfolio balances, but you can also get down to the nitty gritty details of your budget.

After you link your financial accounts by logging into them through the Personal Capital website, you’ll see different charts on the main dashboard. One of those is a cash flow chart. This chart shows you your income and spending for the last 30 days — a quick glance at your budget details.

Personal-capital-cash-flow-spending

Simply click the chart to be brought to another page. Here, it will show you the details of your budget. You’ll see where your income is coming from, and where you’re spending money.

Personal Capital is free to use, but it charges a fee for optional wealth management services for people with investment portfolios worth over $1 million.

Mint

Mint has long been considered the gold standard for budgeting tools. Between its website and mobile app, Mint gives users the ability to see their money activity in real time. Much like Personal Capital, Mint syncs all of your financial accounts into one dashboard. From there, you can see your spending categories, investment balances, and upcoming bills.

Mint-Review

What’s unique about Mint is that it also offers a free credit score. You’ll see the number on your dashboard every time you log in, and your score is updated every three months. Although there are plenty of websites offering free credit scores these days, Mint makes it easy to keep all your financial data in one place and avoid having to log in to multiple websites.

Mint is free to use. You’ll receive financial product recommendations for things like credit cards and savings accounts, based on your profile.

Learn More: Mint vs Personal Capital

You Need a Budget (YNAB)

You Need a Budget (YNAB) is a premium budgeting tool for the more involved users. The latest update included direct import, which allows users to sync their bank accounts with YNAB and have transactions imported automatically rather than manually. Despite this, users still have to manually categorize each expense, which can be a benefit to some because it creates more awareness of spending.

YNAB

What sets You Need A Budget apart from other budgeting tools is its comprehensive knowledge base. Users can sign up for free 30 minute online workshops on topics ranging from credit to debt. YNAB has a podcast with over 250 budgeting episodes and a YouTube channel that features weekly tutorial videos.

YNAB comes at a cost of $50 per year. This price tag may deter some users who aren’t looking to add another bill to their budget. However, YNAB’s website claims that new budgeters save on average $200 their first month, making the investment in the budgeting tool worth it. You can try out YNAB on a free trial for 34 days.

Good Ol’ Spreadsheet

Let’s not forget about the good ol’ spreadsheet for budgeting. Years ago, before online budgeting tools were popular, many people who budgeted simply tracked their income and spending in spreadsheets. It definitely takes more manual work and time than simply syncing your accounts on a financial aggregator. But the awareness you create when you update the budget spreadsheet yourself can be enough to get you out of bad spending habits and reach your savings goals.

You can grab a free budget template online with a simple Google search. If you have Microsoft Office, the program also includes free budget templates for Excel.

Stay On Track: 10 Guardrails to Help You Reach Financial Freedom

Final Thoughts

When choosing an online budgeting tool, it’s important to make sure the website is secure. The three online budgeting tools mentioned in this article (Personal Capital, Mint, and YNAB) have all been vetted for proper security protocols. Another benefit of using a spreadsheet for your budget is that you avoid giving external websites access to your financial accounts.

No matter how you choose to track your income and spending, the important thing is that you do it, especially if you are trying to save or get out of debt. Being aware of where your money goes, and knowing how to cut expenses, is a great first step toward financial freedom.

What’s your favorite way to budget?

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So, you’re thinking about adding some plastic to your wallet. You want to take advantage of as many bonuses and offers as possible, and you definitely want to earn cash back where you can. You may even be thinking about travel hacking, where you open a number of new accounts in order to reel in a number of introductory point, mile, and cash back offers. Where do you look first?

524 rule

Chase offers a wide variety of credit cards with different perks, including low-fee balance transfers, travel rewards, rotating cash back categories, and even 5% back at Amazon. They are one of the more prominent card issuers, and frequently issue large sign-up bonuses to encourage new customers. Chase, however, has an interesting rule that makes them stand out when it comes to travel hacking.

The 5/24 Rule

You may have heard about their 5/24 Rule, especially if you’ve spent any time researching card hacking.

Simply put, if you’ve opened up 5 new accounts in the last 24 months, you’ll be denied for most Chase credit cards. This rule is all but inflexible, even with calls to customer service to beg them to reconsider. This is unfortunate, as it could lead to you missing out on some of the largest sign-up bonuses seen on credit cards to-date.

One important note: there are numerous reports that being pre-approved in a Chase branch for these cards leads to approval for the card. Anecdotally, I traveled to New York City last November and was approved in-branch for the Chase Sapphire Reserve at 12/24 accounts. So, this work-around could be a possibility if you live near a Chase branch.

Check Out Its Brother Card, the Chase Sapphire Preferred

If you’re considering taking on the travel hacking game (beware: it requires strong organization skills and a lot of attention to detail!), Chase should be high up on the list of issuers to pursue. You’ll be applying for credit cards regularly, so you’ll quickly exceed the limitations for the 5/24 rule. For example, in the last 24 months, I’ve applied and been approved for 15 cards. In the world of travel hackers, that’s not even on the high side of new accounts.

Cards Not Under 5/24

The following cards are reportedly not under Chase’s 5/24 rule:

  • Amazon Prime Rewards Visa (I was approved last month at 13/24)
  • British Airways
  • Fairmont
  • Hyatt
  • IHG
  • Ritz-Carlton
  • Disney (both Rewards and Premier)
  • AARP
  • Marriott Business (note: there are conflicting reports on this but I was approved last October at 11/24)

Note that these credit cards will still result in a hard pull and the opening of a new account. So, if you’re interested in them, you should prioritize them after you’ve put yourself past the 5/24 threshold.

Which Card First?

First of all, a disclaimer: if you’re getting into travel hacking, here’s the criteria you need to meet:

  • Have an excellent credit score (I would put this at 720+, if not 740+)
  • Pay off your credit card statement balances in full each month
  • Be disciplined and organized with your money
  • Be able to meet the minimum spend on a new credit card without being financially irresponsible
  • Be unafraid of spending time doing research — there are no shortcuts here!

I would prioritize Chase cards as follows:

  1. Chase Sapphire Preferred
  2. Chase Sapphire Reserve
  3. Chase Ink Preferred
  4. Chase United MileagePlus Explorer
  5. Chase Marriott Rewards
  6. Chase Freedom
  7. Chase Freedom Unlimited
  8. Chase Southwest Rapid Rewards Premier

Note that there are more than 5 on this list, so you’ll have to do some research as to which card is right for you. The Chase Sapphire and Ink lines earn Ultimate Rewards points. These offer flexible and valuable redemptions across a number of airlines and other travel partners. The Chase Freedom line offers cash back perks as statement credits. The other branded cards like United and Marriott offer brand-specific points and miles.

I’ve prioritized the United and Marriott cards ahead of the Freedom cards for a few reasons. First, it’s possible to change your credit card to the no-fee Freedom cards after some time. So, if you’re a Sapphire Preferred cardholder and you’d like to discontinue paying the fee, it’s possible to change that card over to a Freedom.

Second, the bonuses for those two branded cards are relatively valuable at the moment. The United offer at 50,000 miles is higher than it was in 2016. The Marriott points are now eligible to transfer to Starwood Preferred Guest® Credit Card from American Express at a good rate (3:1).

If I were just getting into travel hacking, I would be going straight down this list. You may be put off by the Ink Preferred being a business card, but applying for a business card isn’t as daunting as it might seem. Many people run small self-owned business through eBay selling or Etsy shops, and it’s perfectly reasonable to have a business line of credit for those expenses. The process is nearly exactly the same as a personal application; you’ll just need to provide some information about the type of business you operate.

To 5/24-ers and Beyond

My advice to the unfortunate folks who are past 5/24: don’t worry about it. While some of these bonuses are stellar (the previous Chase Sapphire Reserve bonus at 100,000 points was great while it lasted), the sheer number of other card issuers and bonuses means that there’s no shortage of great perks to be had.

Lately I’ve been focusing my efforts on airlines like Delta and American, as well as Membership Rewards points through American Express. New cards are constantly being rotated in and out. So, it’s more important to be able to jump on the higher bonuses when available, than to worry about getting back under 5/24.

Best of luck out there, and happy travels!

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There are so many different ways to organize, prioritize, and classify your tasks and responsibilities. You’d probably need a couple years just to sort through all of them on your own. You can have an organizer on your computer, your phone, in your pocket, or a notebook. If you’re short of paper, you can just scribble on your hand.

Even with all of the new ways to get organized, the most effective tool for me is still the simple, classic “To Do” list. My to-do list is nothing fancy, just a list of things that I need to accomplish. For some reason, though, this list motivates me to be smart with my time and get things done.

One of the reasons these lists are so effective is because they help you define what needs to be done. One of my favorite things to put at the top of a to-do list is “start a to-do list” — that way I can cross something out right away! Nothing like building momentum right off the bat.

In fact, checklists are so powerful that they inspired an excellent book, The Checklist Manifesto, by Atul Gawande.

This principle can be applied in any aspect of life. You can use a to-do list at work, at home, or even in relation to different goals you have. My wife and I even have a sort of ‘Financial To-Do List,’ covering our money goals. It has helped us get started and avoid wasting time.

A to-do list is particularly power when it comes to finances.

The Benefits of a Financial Checklist

Stay Organized

The list helps us know what bills need to be paid and when they’re due, what major tasks or purchases we might have coming up, and — perhaps most importantly — when we’re going to be paid. A well-defined to-do list answers all of the questions about what needs to be done and when. This helps you use your time more effectively.

Get More Done

Because we’re using our time more effectively, we can use time in more productive ways. For example, we might have spent hours poring over our budget or trying to find the electric bill. Instead, our newfound organization allows us to avoid these little time wasters and streamlines the process. We can get back to making money, fine-tuning our savings strategies, and looking for new ways to cut back. Or, we can quit thinking about money altogether and just go enjoy ourselves for a bit.

Meet Your Goals

We have all sorts of tasks on our list, both big and small. An easy way to design a strategy like this (if you’re using a word processing program or a notebook) is to use a list:

  • Big Goal 1
  • Little Goal A
  • Little Goal B
  • Big Goal 2

For example, if your big goal is to save $1,000 for your emergency fund, your To-Do list could look like this:

  • Save $1,000 Emergency Fund
  • Save $75 from each bi-weekly paycheck for 4 months ($600)
  • Take lunch to work 2/wk for 4 months and add savings ($25/wk) to emergency fund

See how easy that is? Now you’ve got a goal, and you know exactly what you need to do for it! Of course, you can substitute in anything you like.

The beauty of these lists is that they are completely scalable — that is, they grow with you. If you finish your emergency savings goal, you can just start your next goal: “Pay off car debt” or whatever it is on the next line. Figure out how you’re going to do it, and break the big “to-do” down into smaller tasks. Then, you’re well on your way to leveraging your simple list as an effective financial tool.

The Financial Checklist

Your specific to-do list will depend on your circumstances. That said, here are some Financial Checklist ideas to get you started:

Money Management Checklist

  • Create a budget
  • Compare your budget to actual spending
  • Balance your checkbook
  • Balance your credit card account
  • Conduct a spending audit

Credit & Debt Checklist

  • Check your credit score (here’s how)
  • Check your credit report for errors
  • Refinance credit card debt to 0% (here are current 0% offers)
  • Consider refinancing school loans
  • Consider refinancing a mortgage
  • Use the debt avalanche to pay down your debt

Banking & Credit Cards

  • Eliminate checking account fees
  • Confirm that your savings account offers a high yield (here are some options)
  • Set up direct deposit
  • Make sure your credit cards pay excellent rewards (here are our favorite cash back cards)

Investing

  • Check the fees of your investments
  • Confirm your asset allocation aligns with your investment goals
  • Rebalance your portfolio
  • Max out your 401k
  • Max out your IRA
  • Consider an HSA if you have a high deductible insurance plan

Tools

You don’t need anything special to start a to-do list. You can put it on a piece of paper in your wallet, a whiteboard in your kitchen, or keep it on your phone or computer. The “Financial To-Do” list is a completely customizable, easy-to-use money (and life) tool for anyone.

That being said, there is one free tool worth considering: Asana. Asana is a free online tool that tracks tasks. It allows you to create a team and assign tasks to team members. For couples, it can be a great way to share, save, delegate, and organize information on anything.

There are several reasons why Asana is perfect for a financial checklist:

  • It’s free
  • It’s easy to use
  • Tasks can be scheduled to recur on a regular basis (e.g., rebalance your investments once a year)
  • You can attach spreadsheets and other files to a task
  • You can leave comments for each task, perfect for communicating with your significant other

However you approach a Financial Checklist, and whatever tools you use, it can be a great way to improve your finances over the next year.

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