Thread: Money Software?

Actually, i would strongly recommend monitoring it manually with excel or acces.

This gives you a greater understanding of cashflow and also makes you more aware of your in and outcome, because you feel more involved.

Good luck.

Henk.

Thanks for the feedback - I've been using Excel for a couple of years and enjoy being able to set up my financial statements the way I like. I am just seeing if there is any need in the market for a software that would generate clean financial statements (including cashflow) as well as integrate estate planning, risk management, and other components of financial management.

Hi, I've seen people in the past try to sell a system of integrated excel books and sheets that track a variety of financial subjects (cashflow, planning, real estate, asset/liabilites, etc).

Thing is, folks LEARN their estate and finances by building their own set of interactive xls books, so why buy the package?

That would require people becoming experts in spreadsheets. I think of them as a tool, not necessarily and easy to use solution.

A fastlane idea was/is mint.com that aggregates your financial records and has tools/dashboards for you ready to use.

I am not sure what ytou meant by all but if you are talking both business and personal, I dont think mixing them is a good idea. If you own an LLC mixing both totally pierces the corporate veil and you mitigate the reason for an LLC and put your business at risk. I use quickbooks for my LLC and spreadsheets for personal. Most accountants are familiar with quickbooks so they can take a lot of info they need for tax prep from them.

Thank you both for you wisdom.

I do realize that keeping the books separate to keep the corporate veil is important, I'm simply wondering if having a software like Quicken but having all of your financial life in it (estate planning, investments) instead of breaking it up into separate software products.

I think having a Software-As-A-Service Business Model would be smart whereby you charge a monthly fee for access to the services and they are the backbone of your financial plan, rather than upgrading like Quicken has you do. The added benefit would be that there could be a financial education component within the software the school's the user on Fastlane philosophy.

Thoughts?