Microsoft announced last week that they will cease development of their money management program, Microsoft Money Plus. As of June 30, 2009, Microsoft Money Plus will no longer be available for sale. You can read more in Microsoft’s official announcement.
Why is Microsoft ending Microsoft Money Plus?
One word: competition. Microsoft Money Plus is a quality product, but ongoing competition with Quicken, their main desktop competitor, and the recent onslaught of high quality and free online money management programs, left Microsoft struggling to gain market share.
Can you continue to use Microsoft Money Plus?
Microsoft Money users will continue to be able to use the desktop program indefinitely, but Microsoft will cease providing support in the near future. The ability to download transaction information directly from banks will end after January 31, 2011, and other updates such as tax rates, online bill pay and others will also end in the near future. Read the FAQ’s for more information.
Alternatives to Microsoft Money Plus
If you are searching for a desktop alternative to Microsoft Money Plus, the most popular option is probably Quicken, which currently holds the largest market share for desktop money management programs. Alternatively, there are other options to consider, including budgeting tools like You Need a Budget or MVelopes, and a host of online money management tools.
Quicken and Microsoft working on a conversion tool
From what I have read, it looks like Quicken and Microsoft are working together to create an import tool that will give Microsoft Money Plus users the ability to import their data into Quicken. This will probably be available for the release of Quicken 2010 so MS Money users should be able to do an import if they decide to upgrade to Quicken.
Want to make the move to Quicken now? Check out these Quicken Coupon Codes.