Book Review: The Index Card – Why Personal Finance Doesn’t Have to be Complicated

the-index-card

I recently listened to The Index Card: Why Personal Finance Doesn’t Have to be Complicated.  The book promises to explain basic personal finance principles in a way that even beginners will have a solid foundation for managing their finances. As you can expect, this book is not for those who have already mastered their personal finances. It is geared more towards beginners.

Total listening time is just under 4 hours, and I listened to the book over a couple of days while exercising, driving, and working around the house. The book came about after the authors posted a discussion online. In that discussion, Harold Pollack stated that the best personal advice can fit on a 3×5 card.

The book discusses ten rules that will place most people on sound financial footing. The rules discuss saving, investing, insurance, and buying a home. The authors support their rules with studies and anecdotes. They talk about their personal struggles with finance.

One rule encourages readers (or listeners) to “support the social safety net”–e.g., medicaid and medicare. One author explains the difficulties he was left caring for a brother-in-law with special needs after his in-laws were no longer able to care for the brother-in-law.

I learned a lot from this book. You can find all of the information in the book from various blogs, but if you want it combined into one resource, this is the book I recommend.

 

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