Comments on: Winning Financially: From Seed to Mighty Oak http://www.youneedabudget.com/2008/winning-financially-from-seed-to-mighty-oak/ Simple. Effective. Thu, 24 Jul 2008 02:59:55 +0000 http://wordpress.org/?v=2.5.1 By: Andy http://www.youneedabudget.com/2008/winning-financially-from-seed-to-mighty-oak/#comment-78 Andy Sat, 03 May 2008 04:58:52 +0000 http://www.youneedabudget.com/2008/winning-financially-from-seed-to-mighty-oak/#comment-78 In this post - and somewhere else on your site as well - you mention the potential downfall of having a budgeting software program download your transactions automatically. I agree with what you've said, and here's my own two cents: 1. A software glitch can create more trouble than it's worth. I can't tell you how many times the so-called "automatic download" (in Quicken) has been far from automatic; causing me to spend much more time troubleshooting the bank connection than I would have spent just downloading the transactions manually. 2. Even when the software is working properly, I have found that banks are constantly adding new security features to the "web-connect" system to protect your information. This is a good thing, but it also means you now end up typing your username and password each time you synchronize your transactions anyway (try using Quicken Online to synchronize with Wells Fargo and you'll see what I mean.) This time it takes to type usernames and passwords uses up a lot of the valuable time I was trying to save by using the automatic synchronization. I have not purchased your software yet, because I am still considering and comparing other options, but it is definitely close to the top of my list. Keep up the great work! In this post - and somewhere else on your site as well - you mention the potential downfall of having a budgeting software program download your transactions automatically. I agree with what you’ve said, and here’s my own two cents:
1. A software glitch can create more trouble than it’s worth. I can’t tell you how many times the so-called “automatic download” (in Quicken) has been far from automatic; causing me to spend much more time troubleshooting the bank connection than I would have spent just downloading the transactions manually.
2. Even when the software is working properly, I have found that banks are constantly adding new security features to the “web-connect” system to protect your information. This is a good thing, but it also means you now end up typing your username and password each time you synchronize your transactions anyway (try using Quicken Online to synchronize with Wells Fargo and you’ll see what I mean.) This time it takes to type usernames and passwords uses up a lot of the valuable time I was trying to save by using the automatic synchronization.

I have not purchased your software yet, because I am still considering and comparing other options, but it is definitely close to the top of my list. Keep up the great work!

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