Subtitles of the Movie

You might have noticed when we talk in terms of our assets and liabilities, it really only listed the major items. It didn't list all of the furniture in our house, perhaps paintings, computers and other items. As part of the Property and Debt Center, Quicken has included household inventory. I'm going to go up to the menu to Property and Debt and when I do, you'll notice the Quicken Home Inventory Manager. When I select it, Quicken will actually take me through step by step the features for what I need. Now first, Quicken will allow me to put photos in. Now, it's not necessary to do this. You may not choose to do this, so it's OK to simply say don't show this to me again and exit out. It will always come up the first time you start the manager. When I exit, you'll notice I'm taken directly to the inventory. The instructions will tell me that it'll take about an hour. I'll need a list of everything I have and then I can track my valuables, my assets and create reports. When I continue, I'm taken to a list that's going to ask me for the item description, if I'd like to place it into a category such as appliances, clothing, medical, office and it's going to ask me to estimate a replacement cost and a resale value. Not, taking a household inventory can seem very perplexing at first, but the best way to do it is to go room by room. Start with one room, such as your living room, and then choose the individual items on the side. For instance, I have a bureau in my living room so I'll add the item. I also have a chair. I'll add the item. A couch; I'll add the item. So forth and so on. Notice that Quicken will guestimate replacement costs and resale values. Now, if this is nowhere near what you thought the value was, simply go to the replacement cost, change the total and on your resale value, do the same thing. I'm going to say it's going to cost me 1400 dollars to replace that bureau, but I believe I could get half that price or 750 dollars if I resold it. Now, you notice I changed the item. I'm asked if I'd like to record those changes. I'm going to say Yes and I'm ready. When I'm finished with the Household Inventory, I can simply go ahead and select the ability to go back. Notice Go to Quicken on top. I'll click on Go to Quicken and I'm back into Quicken. You may have noticed that when we go into the Inventory Manager, it looks as if we're in an outside program and that would be a good observation because it's true. This is what we call an add-on module. As a result, we'll have to go back to Quicken. Notice that I can send an update to Quicken. When I update to Quicken, I'm actually sending the inventory data to a brand-new account called Home Inventory. When I say Yes and then go back to Quicken, you'll notice that I have a brand-new asset called Home Inventory. The detail for that inventory is of course right inside of the Home Inventory account. Take the time to set up your Home Inventory. It's a valuable tool to know what your value is, but more importantly to have a comprehensive listing should anything happen and you need to file a claim with your insurance company.