Chapter 12

Other People’s Money

In This Chapter

arrow Tracking loans, mortgages, and other debts

arrow Setting up liability accounts

arrow Calculating the principal and interest portions of a payment

arrow Recording loan payments

arrow Handling mortgage escrow accounts

arrow Adjusting principal and interest breakdowns

arrow 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 ...

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