Other People’s Money
In This Chapter
Tracking loans, mortgages, and other debts
Setting up liability accounts
Calculating the principal and interest portions of a payment
Recording loan payments
Handling mortgage escrow accounts
Adjusting principal and interest breakdowns
Scheduling automatic loan payments
A while back, a popular financial self-help writer used to argue that one of the secrets to financial success is using other people’s money: the bank’s, the mortgage company’s, the credit people’s, your brother-in-law’s. . . . You get the idea.
Me? I’m not so sure that using other people’s money is the key to financial success. Borrowing other people’s money can turn into a nightmare.
Quicken can help you here. No, the folks at Intuit won’t make your loan payments for ...