As the story goes, there has been a saying in financial management for years that everything you need to know about managing your money could fit on an index card. Harold Pollack, a social scientist and blogger, was challenged to produce such a card after he blogged about his meeting with financial adviser Helain Olen.
Here is the card:
|Picture and contents by Harold Pollack.|
Obviously this is geared towards Americans, so hooray for you if you are from the USA! The rest of us can probably make some pretty simple translations (I'm pretty much sure that RRSPs in Canada are the same as 401(k)s, for example).
I personally don't have enough income rolling in to save 20% of my income or invest, yet. I can, however, be sure to pay my credit card balance every month, save what I can, pay attention to fees, and consider what I can be doing with my tax rebates.