Cashing Out

Image via Wikipedia

Microsoft announced that it will no longer offer Microsoft Money for purchase after June 30, 2009. Microsoft gives their reason in the FAQs

The category of personal financial management software has changed considerably in the 17 years since Money was first established. As more users shift their attention to full-service offerings provided by banks and brokerages, demand for a comprehensive personal finance toolset has declined.

Why am I blogging about this? Because I've used Money for years to manage my family's personal finances. I love the program. At its heyday Money effectively took over all one’s financial management tasks: it was no longer a system of record, but the primary interface to pay bills from, transfer between accounts, etc – especially when paired with the few excellent banks specializing in Online Finance. I also use Bank of America's online banking, but it's not a full-service financial management offering. You can't enter in future transactions to forecast your finances. This is going to force me to try web based financial management software. I've been following the online offerings, i.e. Rudder, Wesabe and Mint. I'll give them a try and pick the one that works best for me. I'm excited because there is a lot of buzz around these products. Thanks Money, its been a good run, but your time has come. You've served me well.

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