This choice financial software package is comparable to our top pick in most features and even seems to be a little more user friendly. However, Quicken offers more reports, producing a clearer and fuller illustration of your entire financial status.
Ease of Use/Installation:
While using Microsoft Money, you'll notice tabs at the top of the screen that show you exactly what section you are in. Just click on the tab of the section you're looking for and you're there. These tabs make a complex program of this type really very easy to navigate.
A tour introduces the software and a help window answers questions about the program and its features. Because personal finance encompasses so many facets, plan on spending some time becoming familiar with the program.
We had no problems or errors during the installation and setup of this product.
Banking/Bills:
Microsoft Money Deluxe allows you to manage multiple accounts at multiple banks or credit unions. Once your accounts are set up in the program you can transfer money, make deposits and make electronic payments.
This program also provides an amortization schedule that shows exactly what your loan payments are and how a better interest rate would effect your payments. The schedule also shows what you're paying towards interest versus principle—so you can determine how much faster a loan can be paid off by paying above the minimum payment.
Reporting:
Microsoft Money Deluxe has a limited reporting section when compared to some of the other personal finance products we reviewed—offering seven reports in all.
Financial Planning:
Microsoft Money Deluxe has an incredibly inclusive financial planning section that covers insurance, debt reduction, retirement, college and planners to help you organize life's big events so you can be prepared for the future.
This product also includes an array of specialty calculators to assist in the planning process—you can calculate college expenses, taxes, the cost of your Roth IRA, life expectancy and more.
Personal Investing:
Microsoft Money Deluxe works directly with Ameritrade so you can view all of your investments online. They offer stock quotes, history and individual stock projections for the next six months. Because of this partnership, you can receive up to 35 free trades with your purchase of Microsoft Money.
The program also allows you to allocate all your assets, manage your 401K and use the capital gains estimator.
Tax Options:
Microsoft Money Deluxe has the ability to export all your financial information into the H&R Block tax software, TaxCut, saving you time and avoiding errors. While doing your taxes Microsoft Money will help you find deductions, optimize and estimate your capital gains and estimate your tax withholdings. The program will also offer audit help, incase the IRS decides to step in.
The tax section also includes IRS publications on the tax law changes, a newsletter, and some general questions and answers—very useful information when filing your taxes.
Summary:
Once again Microsoft has put together a very practical software package with Microsoft Money Deluxe by offering easy-to-use tools and a program that interacts with the web to provide tons of information.
The bottom line—Microsoft Money Deluxe is exceptionally user-friendly and effective, but offers limited financial reports.
