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By | John Oates 11th June 2009 09:11

Microsoft abolishes Money

Credit crunch in action

Microsoft is pulling the plug on Money - its personal finance and small business software package.

The software will no longer be available to buy after 30 June and anyone who has bought MS Money needs to activate it before 31 January 2011. Microsoft Money was sold in four versions from $19.99 to $69.99.

Microsoft will continue to provide online services to Money for two years after activation or until 31 January 2011. After that, the software will not support online banking and bill payment. The company ended annual updates for the software last year. It scaled back UK ambitions much earlier - it has not updated the UK version since Money 2005.

Last September the company announced it was to stop selling packaged versions of Microsoft Money in retail stores. It said it would sell the product online download only. At the time, Chris Jolley, group manager for Microsoft Financial Products, said that personal finance remained an important category for the company.

But a statement published today on Microsoft's website reports that demand has fallen as institutions such as brokers and banks roll out similar services. The company points users in the direction of Microsoft's MSN online financial services.

Of course another beneficiary of Money's demise is Intuit, America's leader in personal finance software. Microsoft tried to buy the company once but was stopped in its tracks by the Department of Justice, whose valedictory statement is still available online.

The demise of Money is part of cost cutting measures announced by Microsoft in January, along with 5,000 job cuts.

In March this year Microsoft pulled the plug on Encarta - its old school encyclopedia. It has also euthanised its anti-virus product and its hugely popular flight simulator. ®

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