Password-protecting the Microsoft Money Data

Microsoft74 Password protecting the Microsoft Money Data
Stephen L. Nelson, CPA asked:

You can add a password to the Money data file. By adding a password, only someone who supplies the password can open the data file, see account data, and enter new transactions.

Adding a password

To add a password to the existing Money data file, choose the File menu’s Password

command. Money displays the New Password dialog box.

To enter a password or create a password for the data file, simply type the password you want to use in the New Password text box, and then click the OK button. Money asks you to confirm the new password by entering the password a second time. You need to do this, and then click the OK button a second time. At this point, the file is

password-protected. The next time Money attempts to open this file, Money requests

the password. If you can supply the password, Money will open the file. If you can’t

supply the password, Money will not open the file.

A warning about using passwords

Let me state the obvious warning about the use of a password. A password becomes a key you use to unlock the Money data file. As long as you have the key, you will be able to unlock the data. If you lose the key, however, you lose the ability to unlock thedata file. This means you need to remember the password for the Money data file.

You also need to make sure that you are not the only one who has the password. If something happens to you, somebody else will need the password to get into your Money data file.

Deciding not to use passwords with Microsoft Money

Frequently, it doesn’t make sense to use a password to secure the Money data file. In

most cases, it might be more reasonable to use other measures to try to secure the

privacy of your Money data file. This might mean that you use Money on your computer

at home in a room you can easily watch—like your bedroom or den. Or, alternatively, maybe it means you store the Money data file on a removable disk that you can lock up.

You may also decide that you don’t even need to worry about the privacy of your Money

data. You may decide, for example, that your Money data files shouldn’t receive any

different treatment than what you use to protect the privacy of the bills you receive

or your tax return. Most likely you store this information in a kitchen drawer or an

unlocked desk. If that’s the case, it might not make sense to spend too much extra effort

trying to lock up the Money data files.

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