Quicken is the granddaddy of all financial planning software and comes in versions to suit just about any consumer. With several versions and annual updates, Intuit Inc.'s Quicken has something for just about anyone. The package includes basic money management utilities and more advanced features for budgeting and managing investments.

The software comes in packages aimed at simple money management in its most basic version and branches out to cover more complicated tasks. There also are related products for those who run small businesses and those packages also are tiered with less expensive versions.

Paying Bills With Quicken

One of the most basic features is something called Quicken Bill Pay that helps the user track and pay bills. With the feature, the program can be used to write and print out checks for the monthly bills or connect to a creditor's web site and pay the bill electronically. The program then can produce reports that show which bills have been paid and when. It also allows a user to schedule reminders when bills need to be paid.

With a person's bills programmed into the software, it also can produce reports that predict if the user will have enough money to cover the bills. Using this feature allows someone to know in advance how much cash might be on hand at the end of the month that can be shifted into savings, or else send up a red flag warning the user to cut back spending.

Quicken’s Medical Expense Manager

Aside from some of the program's other advanced features, it also contains the capability to mange medical expenses. The medical expense manager allows a user to set up a file for each family member that charts their medical history, complete with records of what is spent, how often the medical expenses arise, and to whom medical bills are paid. This feature is valuable in keeping track of insurance deductibles and saves a lot of effort in tax preparation by itemizing expenses.

The medical expense manager is one of several such specialized tracking features. Others include the ability to track and report on investments and one to calculate college tuition costs. While the Quicken line also includes products for home and small businesses that cost upwards of $100, the three basic versions of Quicken for personal finance management run from $40 for the basic package to $70 for the Premier Home and Business suite.