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Quicken Deluxe 2010 Review

By Sally Aquire

The Quicken Deluxe personal finance software is designed to make it easy to budget and manage your money. In this respect, it sounds very similar to the You Need a Budget (YNAB) software, but it has some additional features that aren’t present in YNAB, such as investment tracking and tax preparation. This review focuses on the Quicken Deluxe 2010 software but you can also buy various other Quicken 2010 software, such as Quicken Premier, Quicken Home & Business and Quicken Home Inventory Manager.

Key Features

Import financial data from banks and credit unions
When you’re creating your accounts, you can choose your bank(s) or credit union(s) from Quicken’s list. This list is comprehensive so you should be able to find yours and import your recent financial data.

Import investment data
If you’ve got investments like a 401(k), an IRA, a 529 College Savings plan or a mutual funds account, you can use Quicken Deluxe to keep track of your investment portfolio. This isn’t something that I’d personally use Quicken for but according to other reviewers, the Premier version of Quicken is top notch in this area. This particular piece of Quicken software may be a good option if you’re looking for personal finance software that is largely geared towards investments as well as budgeting.

Debt Reduction Planner
This tool helps you to keep track of your debt, suggests which debt to pay off first and when you can expect to be debt-free based on your current payments.

Export data to TurboTax
You can export your financial data to TurboTax at tax time to make things less of a hassle.

Find coupons and discount offers.
The Quicken Picks service finds you the best coupons and discount offers so that you can save money.

Import from Microsoft Money
If you were previously using Microsoft Money, you can import data from there using the Data Converter tool. See the Disadvantages section for more on this.

Advantages

Spending Planner tracks your spending
The Spending Planner tool provides a summary of your spending and compares it to what you intended to spend that month so that you can easily see if you’re going over budget (and in which areas you’re doing this overspending).

Avoid late fees and penalties
You can choose to receive alerts before payments are due to avoid late fees and set up reminders to pay bills before they’re due. You can also easily check which bills have already been paid, which still need to be paid and whether there is definitely enough money left over to pay them. This avoids the need to log into different accounts to check your balances. If you have an overdraft facility, you can easily see how much money will be left in your account until payday to give you prior notice if you’re likely to go overdrawn. This feature is new for 2010.

Disadvantages

Installation results in multiple desktop icons
Once you’ve installed the software, you’re left with icons that clutter up the desktop. Not all of these have much use, so this can be annoying.

Importing from MS Money can be problematic
I didn’t do this personally, but other reviews have suggested that there can be issues attached to importing data from Microsoft Money. Some people have complained that Quicken repeatedly crashes after the import is complete and that the process needs to be repeated when the program is reopened or the computer is restarted.

Phone support is expensive
If you have problems during the installation process or when converting data, you can call support for help. Before you reach for the phone, be aware that it’s not cheap. This can actually cost you a whopping $24.95 per call. In comparison, email and chat support is free so you’re better off using those options.

How Much It Costs

Quicken Deluxe is available to buy on the Quicken website for $39.99, reduced from the original price of $59.99.

Final Thoughts

Quicken Deluxe simplifies money management with the ability to manage your accounts in one place and keep track of bill payments. This can be useful if you’ve got checking accounts, savings accounts and credit cards to manage. Because it’s all too easy to slip up on when bills are due, I like the concept of sending alerts before payments need to be made in case you’ve forgotten. I haven’t used previous versions of Quicken, but judging from reviews and expert offerings, it seems that the usability has improved significantly for the 2010 version. If you’re starting from scratch, it’s a good money management option and should definitely help you get your finances in order!

Try out one of the Quicken money management products today at discounted prices. (Official Site)

Sally Aquire
Sally is a UK-based freelance writer. As well as personal finance, she also writes on health & beauty and lifestyle topics. When she's not writing, she enjoys reading, shopping, hanging out with friends and generally making the most of her downtime!

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  • Mark Kang

    I have been using Deluxe Quicken 2007, but got the message that downloading transactions will be expired soon for this version. As a result, I ened up buying Quicken 2010 without hesitation since I was happy with 2007 version. But guess what? Quicken 2010 has been nothing but a disaster. Graphical User Interface is so horrable that some of dowloaded transactions can’t be viewable from my deaktop PC screen due to inability of column width adjustment. Besides, when I tried to delete an account, I could not figure out how to do it, which was so easy in Quicken 2007. Even if I deleted all the transactions from an account, it keeps complianing that there is a registered transaction somewhere without telling me where it is. I am a softwre engineer and many years of quicken user. If I can’t figure it out even after spending a few hours of struggling, there has to be something wrong with this one. I never had these problems with Quicken 2007. Quicken 2010 version is so bad I plan on returning it next week before 60 day refund period expires. I don’t know what their software engineers were thinking. Rather than making it simpler and easier to use, it becomes sich a complex product and horrible to use. I really think quicken really screwed up this time. Go to Amazon.com and type ‘Quicken’. Ypu will find a lot more frustrated users like me.

    • Barbara

      My personnel finances are so messed up. I actually had to use a different checking account due to the fact that the downloaded transactions do not download and it screws up the register by doing adjustments. I need to try something else. Any suggestions? I have a trust account and was keeping track of expenses no that is all lost. I am the trustee and executor. Quicken asks to you want to use a current account but does not allow for the correct account to be used. So you have created multiple account with different names. Then the information you need is not in the account you need and is beyond fixing. I would like to have my money back!!!! I have been a quicken user for about 10 years. They need to get better support with people who speak English and without heavy accents.

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  • Ken Noland

    wow – all those negative postings must be talking about some other product. Deluxe is terrible.

  • Susie Parsons

    I have been using Quicken since 1993. Never had any problems. I am office manager at a dental office and download every day. Ever since I updated to Quicken 2010 (had to because quicken told me it wasn’t supporting the version any longer) It has made my life a NIGHTMARE! The first month I went to reconcile my previous statement balance was off $500,000!!!!!! I was able to figure it out and mark thousands of transactions cleared, dating back to 1999! It was a miracle that I could figure it out! NOW, for the past several months it’s done the same thing. Today it is showing my previous balance off $30 grand! Last month I was off $5 grand. Last month it was IMPOSSIBLE to figure out what happened so I had to make an adjustment to get it balanced. Fortunately our account has the correct P&L…. I don’t know what to do. Yesterday was so frustrating that it just ruined my whole day! I just quit working on it and the accountant is hounding me for my quarterly reports. This has made my life miserable….

  • Nindac

    My first computer had Quicken bundled in the software package 12 years ago. I knew nothing about computers or Quicken but eventually taught myself and loved Quicken. That all changed when I had to change Quicken to the latest version(s). I quickly learned I was screwed but had the good sense not to trust Quicken to make my transfers or payments. Going to the bank website took care of all my transactions so basically I was using Quicken as the reconcile program to balance my statement at the end of the month. What chaps my britches is that billminder is worthless software bogging down Quicken. If you pay the bill ahead of time it doesn’t recognize it. I hate Quicken and wish I had never started using it. I am considering MS Money. I will have to learn a new program but what the hell.

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