Quicken has always been overly complex for our needs. We have
basic financial management needs. First priority: import 10 years of spending history in Quicken and continue to categorize, track and report on all transactions from a half dozen accounts. Last priority: budgeting (so YNAB may not be for us?). Simple is better.
We use about 10% of Quicken's functionality. Add constant download issues, the fact that it has to live on one computer and that the household is now 99% Mac-based (I currently have to pull out the old Dell just for Quicken
), and we want out of Quickenland. Craving something simple simple simple. We are two firmly middle-class folk with good credit, acceptable financial standing and a healthy fear of debt.
question posted last fall was helpful, though the OP and we have different priorities. We are forewarned about Moneydance. YNAB seems great, simple and straightforward and we like that we can use it from multiple computers with the Dropbox syncing and all that. BUT, it's budget-based and without getting into the why, suffice it to say that is not important to us. We would not enter a budget. So can YNAB still serve us well? And if you use iBank, what are the pros and cons?
What we want:
1: To import our 10 years of Quicken accounts and spending history and continue to build on that. Obviously manually recategorizing 10 years of transactions is a nonstarter. But, if we can conduct a one-time mapping of our categories, that would be just fine.
2: The ability to download transactions from a half dozen financial institutions (that all offer this feature). We're fine with an hour or two a month of maintenance on this. Going to each web site to have a glance and download the file, and then a review of the imported transactions and (mostly) automatically assigned categories (correcting or adding new ones plus detailed memos where necessary) provides a healthy level of awareness.
3: After the above, we care mostly about reporting on our spending habits. The most common examples are average monthly grocery or auto expenses, annual reports for home improvement expenses, transaction searches (how much did we pay for that used car? the new roof? the special dog food?), special project or vacation costs (e.g. how much did we spend on that trip to Maui? what did our latest DIY project cost when it was finally done?). We'd also like to have a snapshot of our net worth.
4: The ability to view all of it from multiple computers. Cloud-based is okay
, but we are I think understandably wary of that. We don't every want to lose our spending history. On that same note, we want something that isn't going away anytime soon.
Functions we can take or leave:
-Budgeting (we definitely don't want to be forced into a budgeting framework if we prefer not to keep or track one);
-Bill reminders (meh. We use auto bill pay through a banking site and those transactions would be downloaded and automatically allocated like all our regular transactions);
-Investment tracking (our mortgage account is something we'd track; whether dedicated mortgage tracking functions differently from a regularly set up account, I do not know);
-Business accounting (FWIW, at some point in the future we may wish to set up and track an S-corp or sole proprietorship, but we'd determine the best way to track it if and when that happens);
-Mobile apps (sure, if it meant I could spend some idle time downloading and categorizing transactions from my phone, I guess I might do that. Account balances or net worth at a glance might be useful on rare occasion. Neither is critical).
Aside from the abovementioned options, are there others? Any and all feedback welcome; I know we are not alone in this dilemma. Thanks!