Microsoft Updates Money Program to Plus

Microsoft updated its financial management software today introducing Microsoft Money Plus. Microsoft touts new "Insight" tools with the Plus version of its software that allow you to quickly access personal and investment information. Microsoft also boasts better tools to manage your finances and tighter integration with Microsoft-owned MSN Money.

Innovation to the 17-year-old Money program is centered on the introduction of what Microsoft is calling "Insights". This is a new software tool, Microsoft says, which allows people to gain quick views of financial information from their computer desktop without having to launch the Money software program.

There are several types of Insights offered with Microsoft Money Plus. One Insight, called Cash Flow can be configured to alert you to when you are close to your preset spending limits and when bills are coming due. Another Insight called Bills alerts you to when bills are due or overdue. The Spending Insights keeps people on top of the spending by category (entertainment, home improvements, investments) and also connects you to MSN Money for links to expert advice on how to improve finances in a particular area.

Microsoft says it's also enhanced existing features such as "background banking" - a feature that helps keep account information up-to-date. It has also boosted community features allowing, for example, Money users to connect with other Money users on MSN Money allowing them to share ideas and hear ideas from others on its spending message boards.