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Chapter 16: Managing Your Finances > Choosing and Setting Up a Personal Finance... - Pg. 191

Chapter 16:Managing Your Finances 191 INSIDE TIP If your credit card gives you some sort of perk--frequent flyer miles, free groceries, in-store credit, whatever--pay everything you can with this credit card and then pay the credit card balance in full when you receive your statement. You may even want to set up automatic credit card payments with your utility companies to pay phone, gas, electric, and water bills. Not only does this allow you to earn money with your credit card, but it also simplifies your accounting; you have only one bill to pay each month--your credit card balance. Choosing and Setting Up a Personal Finance Program You can find plenty of personal finance programs, including Quicken, Microsoft Money, and Moneydance. I recommend Quicken because so many financial services support Quicken files. Before choosing a program, ask what your bank recommends. (Quicken is used throughout this chapter to illustrate tasks.) To start using a personal finance program, you first need to supply the program with information about your accounts. This information typically includes the account name, the type of account (savings, checking, cash, and so on), and the current bal ance or the balance according to your most recent statement. To set up an account, you enter the command for creating an account and then