2001: A Financial Odyssey

Are you a financial expert? Probably not, but you don't need to be. New versions of the two most popular personal finance packages--from Intuit and Microsoft--are on the horizon, and both have answers for just about any problem your checkbook or brokerage statement can throw at you.

We previewed beta versions of Intuit's $60 Quicken 2001 Deluxe and Microsoft's $65 Money 2001 Deluxe--programs that graduated from Electronic Checkbook Elementary School so long ago that there isn't much financial know-how left to add to the latest editions. (A Home & Business version of Quicken is also available for $80. Microsoft's Money 2001 Deluxe + Business is due at the end of the year, and will be priced at $85.)

Finance Guide

The programs have many similarities. Both unveil new tools for exercises such as portfolio asset allocation and capital gains tax estimation. Those might sound like scary concepts, but they shouldn't be if you have a Quicken or Money wizard to guide you. The programs provide the right tool at the right time and automatically download needed quotes, tables, and other financial data from their robust Web sites.

Both packages also let you keep exact duplicates of your investment portfolios, bank records, and reminders on their secure Web sites for anytime, anywhere management. Investors will appreciate the new capital gains tax estimators in both programs, designed to help avoid nasty year-end surprises. Quicken even walks you through the process of offsetting gains with losses. While both packages have portfolio asset allocators to help you find the right mix of investments to optimize return while minimizing risk, we give the edge to Quicken, which we feel does a better job of helping you rebalance your portfolio.