Did I just pick the wrong time to switch from quicken? (Pricing)
I've had MD vaguely on my radar for a while, but now that Quicken has switched to a subscription model, I thought it might be time to change, so I downloaded MD and started looking at it seriously.
The knowledgebase says MD is now subscription as well ($60+$2/mo or $5/mo) for the MD+ (which I'd need, because most of what I'm tracking is credit cards).
But when I went to set up the free trial and it says it will now be $9/mo?
I'm all for checking out another program and all, but that ends up being twice the price of my current Quicken subscription (even if I commit to the annual MD subscription, it's still half again what Quicken costs). Did the price change suddenly? If it's just doubled this year(?), I'm also concerned what price it may suddenly be in the future.
Do I have this right? Or am I missing something?
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1 Posted by lamerc on 29 Mar, 2023 11:13 PM
[OP Here]
I also just realized the subscription page says :
"You've connected the maximum number of files with your Moneydance+ account. To connect any additional files, you'll need to un-link one of the existing files below."
I assume my files (i.e, none) are "maxed out" because I'm not signed up yet. But that raises another question: How many accounts am I limited to updating on a MD+ subscription? Does anyone know?
2 Posted by Brian on 29 Mar, 2023 11:29 PM
Hello,
I just left Quicken as well and purchased Moneydance myself. I evaluated MD for a couple of weeks and once I got my 20+ year quicken data file transferred over and working, I purchased MD. As far as I know, Moneydance is a one time $49 and if you want/need Moneydance+, which I did because of Capital one and one of my small bank accounts, it's only $2 month. Compare that to Quicken at $60+ per year and you're saving money.
As far as how many accounts MD allows, one of the other more experienced users will have to answer that. I have 8 total, including 3 credit card accounts.
3 Posted by Cal on 30 Mar, 2023 12:06 AM
I pay a one-time price for MD and then for occasional upgrades (every few years). I wasn't aware there was an ongoing subscription, so I assume it's for linking bank/credit card accounts. I've never seen the logic in automatically synchronizing transactions because if the bank makes a mistake you just downloaded the mistake. I prefer to enter everything manually, that way I catch issues and have a much better idea of what I'm spending my money on, and where my money is coming from. It sounds like I'm also saving the cost of these subscription(s).
4 Posted by dwg on 30 Mar, 2023 12:11 AM
I'm a fellow user.
The ongoing subscript is only for the optional Moneydance+ service. The aggregator charges the company for the service hence the subscription is cost recovery.
The note I have one the number of data sets support for each Moneydance+ subscription is:
A single Moneydance+ subscription enables you to register up to 3 data sets for that subscription. Each data set will maintain its own separate Moneydance+ authorized links, you set up each data set separately.
A data set is what you open when you use the File --> Open command.
5 Posted by dwg on 30 Mar, 2023 12:13 AM
The cost of Moneydance has risen with the latest release, it hadn't changed for at least 10 years so was due for a rise given the way costs have gone up.
I cannot comment on the subscription side of things.
6 Posted by Jim Young on 30 Mar, 2023 06:01 PM
Huh - the web page you get sent to from the "Purchase" button in my demo mode (https://infinitekind.com/purchase-2022) says it's $49.99 but the page you get sent to says it's $65.00. I'm still going to buy it but they should update the 2022 page to reflect the current price.
7 Posted by dtd on 30 Mar, 2023 11:04 PM
just a user - yes they should change it. Even though it has been ten years someone should insure all pages are accurate.
I'd suggest buying it from this page https://infinitekind.com/purchase-2023 as that will give you a 2023 license, which will allow you to get 2024 for free, versus getting a 2022 license which will allow the 2023 free upgrade, but not 2024. Get a years heads up.
8 Posted by lamerc on 31 Mar, 2023 12:22 AM
Yeah, I'd need the MD+, because I have a lot of little credit card transactions I need to download (I approve them before they're entered, but it saves me a massive amount of straight data entry over the course of a month).
The apparent change in prices (which isn't consistent across the site) is what's concerning and confusing me.
At $49.99 + $2/mo, I was game. That's close enough to my Quicken price of $60
At $65 + $9/mo ($81/yr) I'm having serious second thoughts. (especially as I'd have to transfer/learn a new system (my current Quicken file goes back to 1995).
Waiting for some clarification from the company. I prefer the idea of using a smaller, more attentive/solid/community-supported company, but it's looking like the ongoing price ($20 higher than Quicken's annual, and that after also buying the program) may be a problem for me, sadly. :(
9 Posted by lamerc on 31 Mar, 2023 12:23 AM
(Oh, and thanks dwg for clarification on the # of accounts issue. That shouldn't be a problem.)
10 Posted by dtd on 31 Mar, 2023 12:49 AM
just a user
$9 a month is $108 per year. That is basically "renting the program", but for some that might be ok. I tended to advise against it even at $5 per month (previous price). [ the yearly price will be $90/year in actuality]
The $65 per year (with nice upgrade concepts) is more than the previous $50, but where I am at is - "what is the $2/mo now"? is it not available, still $2/mo, or more now. (And what about current subscribers?)
So - I agree with you about the confusion - it's new, but it's not very well described. I've submitted a request via another channel for clarification.
11 Posted by dtd on 31 Mar, 2023 12:52 AM
@lamerc - the price has not changed in over 10 years (other than adding MD+ at $2/month) or $5 per month as a "rental". Still, yes, it did just change.
you do mention "after buying the program" - if you did that, what price is given to you for MD+ in addition to the purchase?
12 Posted by dwg on 31 Mar, 2023 12:54 AM
@Jim Young
I have left a note for the developer that the purchase button in the software is taking people to the wrong purchase page.
13 Posted by lamerc on 31 Mar, 2023 01:00 AM
(Thanks for fixing my math dtd :facepalm:)
See this is where I'm confused. Looking around again I _think_ the current choices are $65 upfront (no+) or an ongoing $9/mo for both the program & plus.
But either the pages are being worked on or I got turned around yesterday thinking it was $65+$9/mo. Still want to be sure before I jump. :-)
14 Posted by dtd on 31 Mar, 2023 01:07 AM
just a user
Even as a contributor and tester, I am confused as well.
Former:
$50 purchase + $2/month MD+ (optional) --- this is what I think I'm still on!
$5/month - combo "rental" price - not a bad deal, but without upgrade "privileges"
New:
$65 purchase (not bad after 10 years).... but what about MD+???????????
$9/month - rental price - ok, fine. But still, I'm in the first camp.
And what about the current customers? No announcement that's for sure.
So yes, this is a current work in progress, and I'm seeking for more info from other pathways.
15 Posted by Brian on 31 Mar, 2023 03:55 AM
Sorry, I missed the price increase on my earlier post.
Now I too am confused about MD+!
I just signed up for $2/month, which I'm fine with, but no way I'm paying $9/month. Especially since I only need MD+ for my 2 capital One accounts. Hopefully someone will chime in soon to clarify. I'd be better off counting my losses and going back to quicken for $64 total per year. Here's to hoping MD+ stays $2/month!
16 Posted by dtd on 31 Mar, 2023 04:57 AM
The one thing I can say is that the $9 per month is about "rental" of BOTH the product and MD+
If you do a purchase, then (historically) it is $2 per month. At most, it might probably go to $3 per month or so, but the only thing "on the site" is that you purchase because you don't need MD+ - that is what concerns me.
The issue - it's not stated anywhere. I'm working on finding a statement.
17 Posted by dtd on 01 Apr, 2023 01:30 AM
@lamerc:
Here is the response from IK/MD as to current (new) pricing:
one-time purchase: $65, includes one free upgrade, then upgrade: $30
MD+ after purchase: $4/month or $40/year
MD+ w/out purchase: $9/month or $90/year
So comparing to Quicken at $60/year...
MD 2023: $65 purchase, $40 MD+ = $105 for 2023
MD 2024: free upgrade, $40 MD+ = $40 for 2024
MD 2025: upgrade if desired, or not, $0-$30, $40 MD+ = $40-$70 for 2025
MD 2026: free upgrade if purchased upgrade. etc = $40 for 2026
four years = $255 ---> $64/year
I did the calculation not really for you, but for myself, as this is all new again.
That said, with almost 30 years of data, have you downloaded the free trial version to insure that everything can transfer over and work for you? [I had 35 years of data when I converted, and am now nearing 40]
@Brian - as you now know, the $2/month price is grandfathered in, new MD+ subscriptions will be $4/month ($40/year).
18 Posted by dtd on 01 Apr, 2023 01:37 AM
@lamerc
Also, upgrading is definitely optional. I do it because I always want the latest, but some are still using versions from quite some time back (I see people using 2021, 2017, and a few are using 2012 - well at least for windows. Macs break old software a lot)
19 Posted by lamerc on 01 Apr, 2023 02:20 AM
I appreciate you getting the info (and crunching all the numbers), @dtd. (Did I mention those are also my initials, which is making me double-take every time? :-))
I don't generally need the newest and best (before they went to subscription I kept each version of Quicken for the 3yrs they allowed before they cut support and downloads). And I'm on a PC.
As to transferring so much over, that's what I need to figure out now. I had downloaded and was about to look and test it out when I was suddenly confused by the pricing.
So, back to checking out if that transfer will work for me now.
Thanks everyone for your help!
20 Posted by Jim Young on 01 Apr, 2023 02:57 AM
Oh man. I feel like a piker - just 24 years of data.
On the other hand, I just moved over from Quicken 2004 so I quess I got my moneys worth out of that purchase. :-)
21 Posted by dtd on 01 Apr, 2023 03:19 AM
just a user
@JimYoung - given you were cut off from downloads in 2007, you probably won't need MD+ for bank downloads, so it would only be a $65 purchase and you are done (as you probably won't need to upgrade either.... ;) )
Of course - same song - download the trial and insure you can move over that tiny 24 years of data ;) - then decide if you want to purchase.
22 Posted by dwg on 01 Apr, 2023 03:26 AM
It is quite common for Moneydance user to be using quite old versions of Moneydance, especially on Windows and Linux which have pretty good backward compatibility.
For Mac users I'm afraid that Apple have made a habit of breaking older versions of applications when they release a new version of the OS.
System closed this discussion on 01 Jul, 2023 03:30 AM.