I loved reading The Index Card by Helaine Olen and Harold Pollack. In the book, they try to keep personal finance simple by outlining 10 basic principles you should stick to. They recommending keeping their 10 rules on an index card for easy reference (hence the title). By avoiding detailed “how-to” instructions, this book’s broad principles are relevant to almost any personal financial situation.
Of course, there were minor things that I didn’t see eye-to-eye on. I think they recommend taking out more insurance than necessary (see my post on self-insuring). They also seems to assume that everyone will hire a financial adviser, which can be beneficial for some, but a waste of money for others. The book also takes a very political turn near the end, which I thought was unnecessary.
Having said that, Pollack and Olen have good advice that guides the reader away from many money traps such as expensive mutual funds and bad debt and emphasizes the importance of planning for the future through saving.
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- While I do strive to only write accurate information and dispense valuable advice, I am not a licensed financial adviser. All information is based solely on my personal experience and personal research and should be treated as such. Find out more.