No, this is not the title of a Jim Steinman song. It's about my love/hate relation with Microsoft Money, and about You Need A Budget Pro, my new love.
What I love about Microsoft Money is that it allows me to determine exactly how much money I have in each account, including my cash money and on my Quick Chip. What I hate about Microsoft Money is that I spend several hours every week entering all transactions, switching between accounts every time and even switching between Money files. What I love about Microsoft Money is that it's possible to make a budget, and observe how good (or bad) I'm adhering to it. What I hate about Microsoft Money is this budget starts over from scratch every month, even if I spent way too much money last month. In general, what I hate about Microsoft Money is that I invest a lot of time in it, and I get way too little return on that investment. But what else could I do? Quicken isn't much better, and there are no other decent programs around.
Or are there?
I first heard about You Need A Budget half a year ago, but I was reluctant to do my finances in a spreadsheet. Moreover, I though that it would be easy to build my own spreadsheet. But of course I never got around to doing that. Sometime in November, I was (once more) fed up with MS Money, and surfed to the YNAB site again. And lo and behold, there was You Need A Budget Pro, a smart client program with all the functionality of YNAB. It is even written in .NET (2.0), so how could I resist?
I bought a license right away, trusting my gut instinct that YNAB Pro would be what I expected and trusting the 60 days money back guarantee. I thought that I would use MS Money and YNAB Pro side-by-side for one month, and then look back and decide which program to continue with. After day 1 of this test period, I decided to ditch MS Money.
What I love about YNAB Pro is that I only spend a couple of minutes every day entering transactions. There's only one register, so no switching between accounts and figuring out in which account to enter the transaction. What I love about YNAB is that differences between the budget for a month and the actual spending (positive or negative) are carried over from one month to the next. What I love about YNAB Pro is that it was surprisingly easy to let go of my "I need to know exactly how much I have in each account" mind-set. The trade-off between not knowing that exactly and spending much less time was a surprising no-brainer.
There's only one big feature request I have: don't give in to Feature Bloat. There are few things worse than a good program that gets overloaded with (almost) unrelated other functionality. So please add only those features for which there's a real demand (like an integrated calculator).
One other thing: YNAB Pro saves its files in XML, so in theory I could make a little program that reads the CSV file that I download from my bank and writes those transactions into the YNAB Pro file.