Microsoft Money Discontinued, Transfer Your Data To Quicken

If you use Microsoft Money to manage your finances, you should know that Microsoft will no longer be selling MS Money after June 30th, 2009. From the Microsoft product page:

With banks, brokerage firms and Web sites now providing a range of options for managing personal finances, the consumer need for Microsoft Money Plus has changed. After suspending annual updates of Money Plus in 2008, Microsoft is announcing today that we will no longer offer Microsoft Money Plus for purchase after June 30, 2009.

But more importantly, your online services will also be discontinued soon. This means stock and mutual fund quotes, tax rate updates, and banking services like their billpay.

For Money Plus Deluxe, Premium and Home & Business customers, online services expire two years after initial activation or Jan. 31, 2011, whichever is earlier; for Money Plus Essentials it is one year after activation or Jan. 31, 2011, whichever is earlier. You can verify your expiration date in Money Plus by selecting Help / About Microsoft Money; it appears to the right of the serial number.

Ditched by Money, but Quicken Wants You
I suppose that this means Intuit wins the desktop personal finance software war. Indeed, it looks like Microsoft has really given up, as their last step is to make it easy for users to move to Quicken.

We're working closely with Microsoft to develop an easy way for Money users to transfer data into Quicken desktop products. We're assessing how we can make this capability a reality in conjunction with the release of Quicken 2010 in the fall.

An Intuit representative e-mailed me saying that they are working quickly on making a conversion file that would seamlessly move data from Money to Quicken.

In the meantime, Quicken is directly targeting the Money orphans by offering up to a $50 discount on Quicken products until the end of June: $20 off Quicken Deluxe & Premier, $30 off Quicken Home & Business, and $50 off Quicken Rental Property Manager.

Free Quicken Online & Others
But wait, MS Money says the primary reason they shut down is that many banks and brokerages are offering free aggregation services which provide a similar service. Indeed, there are also standalone aggregation sites like Yodlee, Mint, and Geezeo. And if you want a free desktop finance software with double-entry accounting, there is the open-source GnuCash, though it certainly lacks a certain polish.

But wait, why didn’t they just do their own online version? Intuit introduced Quicken Online, which is now free and tries to add a little Quicken flavor to the usual aggregation model. More competition would have been good. I guess they spent all their energy on Bing.

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