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Using the Planning tab

From: Quicken 2014 Essential Training

Video: Using the Planning tab

The Planning tab, in Quicken, is an area where The next tool is the Tax Center.

Using the Planning tab

The Planning tab, in Quicken, is an area where you can create budgets, debt reduction plans, and savings goals. Make long term plans for retirement and other life events and estimate your taxes, based on the data you've already entered into the Quicken software. You can also find handy financial calculators and tax tools under this tab. It's best to start using the planning tab feature after you've already entered your main spending savings, retirement, and asset accounts into Quicken. It's also best to have at least three months of transactions entered in to your Spending Accounts.

Your plans will be more accurate, and you won't have to enter as much data by hand. It's important to understand that the tools available under the Planning tab, are extra, and optional features of Quicken. Use these tools if they're helpful, or interesting for you. Let's take a closer look at the tools available in the Planning tab. To open up the Planning tab, just click on the tab along the top of your screen labeled Planning. The first tool you'll see is the Budgets tool. This tool helps you monitor your monthly income and expenses. This is probably the most useful and commonly used area of the Planning tab.

Click on Debt Reduction to see the Debt Reduction Planner. This tools helps you create a plan to reduce the amount of interest you pay, towards a credit card or loan. And helps you understand, how you can get out of debt, as fast as possible. Click on the Lifetime Planner tool. This tool helps you plan your retirement in conjunction with other life events, such as paying for a child's college, tuition or purchasing a home. It helps you determine, how to reach these goals. The next tool is the Tax Center. This tool interfaces with Intuit's TurboTax software to help you estimate your taxes for the current year based on the data you've entered into Quicken.

Let's take a look at this Savings Goal tool. This fun feature is a way of setting aside money for a specific purpose, such as for a vacation or a new computer. The money you contribute to a Savings Goal remains in your account, but its hidden so you don't inadvertently spend it on something else. There's also some handy calculators under this Planning tools drop down on the upper right. These calculators are quick ways to calculate retirement savings, college financing, refinancing savings or loans. There's also a bunch of Tax Estimation and Planning tools under the Tax drop down. We've seen this reports tool in other areas of Quicken, here it is again.

You can always see the reports that are available from your accounts using the Reports drop down. The Planning tab area of Quicken is a great feature to explore after you've entered your account and categorized a few months of transactions in Quicken. You may even find areas where you'd like to add more detail when using these tools.

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This video is part of

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Quicken 2014 Essential Training

47 video lessons · 1631 viewers

Sally Norred
Author

 
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  1. 47s
    1. Welcome
      47s
  2. 10m 45s
    1. What is Quicken 2014 Premier?
      2m 45s
    2. Defining common Quicken terminology
      2m 58s
    3. Touring the Quicken interface
      5m 2s
  3. 36m 42s
    1. Setting up your Intuit ID
      2m 54s
    2. Using the Account Bar
      2m 46s
    3. Understanding account types
      3m 59s
    4. Adding your first account
      3m 11s
    5. Updating your accounts
      3m 44s
    6. Setting up your Password Vault
      2m 55s
    7. Adding other spending and savings accounts
      5m 15s
    8. Adding investing and retirement accounts
      4m 45s
    9. Adding property and asset accounts
      2m 44s
    10. Adding loan and debt accounts
      4m 29s
  4. 42m 13s
    1. Understanding spending account registers
      4m 59s
    2. Searching, sorting, and filtering transactions
      2m 31s
    3. Downloading transactions for a specific account
      1m 53s
    4. Entering spending transactions manually
      2m 15s
    5. Understanding transaction categories
      2m 42s
    6. Categorizing transactions
      4m 37s
    7. Customizing the Category List
      3m 54s
    8. Recording split transactions
      3m 31s
    9. Transferring funds between accounts
      1m 21s
    10. Saving time with memorized payees and QuickFill
      4m 30s
    11. Reconciling accounts
      4m 8s
    12. Using the Spending tab
      2m 28s
    13. Creating and understanding spending reports
      3m 24s
  5. 20m 8s
    1. Using the Bills tab
      4m 6s
    2. Setting upcoming bill reminders
      5m 11s
    3. Setting upcoming income reminders
      4m 6s
    4. Projecting future account balances
      2m 54s
    5. Using Quicken Bill Pay
      3m 51s
  6. 24m 39s
    1. Using the Planning tab
      2m 34s
    2. Creating a budget
      5m 48s
    3. Creating a debt-reduction plan
      3m 53s
    4. Using the Lifetime Planner
      3m 32s
    5. Using the Tax Center
      3m 29s
    6. Creating savings goals
      5m 23s
  7. 18m 11s
    1. Using the Investing tab
      4m 22s
    2. Viewing your portfolio
      4m 45s
    3. Tracking your portfolio performance
      3m 10s
    4. Monitoring asset allocation
      3m 46s
    5. Creating and understanding investment reports
      2m 8s
  8. 10m 58s
    1. What is the Quicken mobile app?
      2m 51s
    2. Installing the Quicken mobile app
      3m 59s
    3. Quicken mobile app overview
      4m 8s
  9. 33s
    1. Next steps
      33s

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