The Cloud, Day 15: Dollars and Cents in the Cloud

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30 Days With the Cloud: Day 15

Moving on down the list of things I normally do on my PC that I now need a cloud-based equivalent for, next is keeping track of my finances. I have been using Intuit’s Quicken in some way shape or form for over a decade, but for 30 Days With the Cloud I am going to transition to

The irony of turning to for managing my personal finances in the cloud is that it is also owned by Intuit. Intuit chose to just buy what works for $170 million back in 2009 rather than fighting an uphill battle to compete with

One key difference between Quicken and is that is free. I have been using the Quicken Home & Business version for five or six years now, which has cost me about $70 or $80 each year. Granted, I didn’t have to upgrade each year, but I like to stay current, and it’s a business expense.

As far as the actual ability to track my finances, is actually better than Quicken in many ways. Quicken has all of the information for my various bank accounts, credit cards, and loans, but is connected to them more directly. automatically updates balances, tracks when payments are due, and analyzes how and where my money is being spent.

Quicken is a great tool, but is more like having a personal accountant monitoring my finances. Once I set up goals and budgets, can send me alerts and updates to let me know how I am doing. When I get charged a service fee from a bank, sends me an email alert, and recommends other financial institutions I may want to switch to that won’t nickel and dime me so much. is an awesome cloud-based personal finance tool.
Although is a Web-based entity that I can reach from my iPad through the browser, has an iPad app as well. Normally I am a huge fan of native apps over web-based equivalents, but in this case I actually find it easier, and more functional to use the site instead of the app. I am still learning my way around the app, though, so maybe that will change over time.

I have two significant caveats, though, when it comes to using First, it seems like I can only add entities that have an online relationship that can connect to. I recently purchased a home and the loan is currently being held by the originating lender. That lender does not exist in the library, therefore I simply can’t add my mortgage.

In Quicken, I can just add any account I want whether it has a website or not. I am sure my loan will soon be sold off to a more mainstream lending institution that probably does exist on, but there should be some way for me to manually add an account to even if can’t automatically connect to the financial institution.

The second caveat is related to running my business. As I said earlier, I have been using Quicken Home & Business for years because I use Quicken to keep track of my personal finances, and to manage my business. Quicken lets me create invoices, track business expenses, and manage accounts payable and receivable, but doesn’t seem to offer any of those same capabilities. is awesome for managing my personal finances, but now I need a different cloud-based solution to maintain my business finances. If you use a different Web-based tool for managing your personal finances, I’d love to hear about it in the comments.

Read the Last "30 Days" series: 30 Days With Windows Phone 7

Day 14: Don’t Trust All Your Eggs to One Basket

Day 16: Stuck in Upload Hell

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