May 1, 2009

Quicken Offers Free iPhone Apps

Intuit has designed a Quicken application for Apple Inc's iPhone to help users monitor their spending during this period of economic woes.

"We are really targeting paycheck-to-paycheck customers," Intuit group product manager Jim Del Favero told AFP.

"It kind of allows soup-to-nuts tracking of your spending on the go. When you fire up this application, you get your what's-left number telling you how much money you have."

The mobile Quicken program allows users to access a free Internet service that keeps track of expenses including, credit card, rent, bills and mortgages. The application also keeps track of iPhone users' bank account information and pay schedule so that they do not overspend.

"It tells you how much cash you have in hand before running out," Del Favero said. "With the economic crisis, cash is king again."

The application can also tap into the iPhone's built in GPS system to direct users to the closest bank or ATM of choice to help them avoid being charged usage fees from various other banks.

Intuit, which is known for its Quicken tax preparation products, has seen added interest in budgeting since the economy took a downward turn.

According to AFP, "Intuit designed its free mobile application for iPhone users because statistics indicate that more than half of them earn less than 50,000 dollars (US) annually and they are probably feeling financial stress these days."

"Everyone believes the way people respond to money will be fundamentally different now," Del Favero said.

Intuit said that if the iPhone app is successful, it plans to rollout similar applications for other mobile devices.


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