All you need to know about personal finance is right there, according to Harold Pollack. Now, Pollack is not an investment manager or financial planner; he’s a professor of social sciences at the University of Chicago. But his index card (that’s it, above) was so popular he wrote a book, The Index Card: Why Personal Finance Doesn’t Have to Be Complicated, with Helaine Olen.
In an interview on Minnesota Public Radio, Pollack identified the most important thing on the index card:
The most important of the index card guidelines is the one many Americans do not follow: “Pay your credit card balance in full every month.”
“Credit card debt is so deadly,” Pollack said.
Like the rest of the advice on the index card, that’s solid advice everyone should follow. [Minnesota Public Radio]
Edit: If you like short-form financial advice, the New York Times asked eight financial writers to squeeze their best tips onto index cards, too.