Quicken Alternatives – Is There Anything Better?
Quicken is one of the oldest and most recognized personal finance programs available, with more than three decades of history behind it. But for many users, it just doesn’t cut it.
The first edition of Quicken was released back in 1983 — long before the World Wide Web went live. Developed by former owner Intuit, Quicken was a sturdy, workhorse software solution for personal finance management.
But then everything changed when practically every aspect of our lives went online.
How Mint.com Edged Out Quicken
The downfall of Quicken can be traced back to September 2009, when Intuit, then-owner of Quicken, Quickbooks, and TurboTax, purchased Mint.com and added the site to its product portfolio. In the following years, Intuit operated an online version of Quicken, called Quicken Online, in parallel with Mint, which offered a nearly identical feature set. In late 2009, Intuit announced that Quicken Online would be merged into Mint. This was the first big sign that Quicken was on the way out of favor at Intuit. And existing Quicken Online users were left in a precarious situation with no ability to migrate their historic data.
Quicken Desktop users fared better, as the program was updated each year and was even sold to a private equity firm. But that doesn’t mean it’s perfect.
Why It May Be Time to Ditch Quicken
There are many downsides to Quicken’s desktop program that make the service unappealing to Millennials and other tech-savvy personal finance enthusiasts. Here are some of the downsides of Quicken compared to better Quicken alternatives: