In this episode of Summed, we deliver a complete The Index Card summary—a back-to-basics guide to simple, common-sense personal finance. Journalists Helaine Olen and Jonathan Clements lay out the rules that fit on one card: spend less than you earn, crush high-interest debt, automate saving, max out tax-advantaged accounts, invest in low-cost index funds, keep fees and taxes low, buy adequate insurance, and keep it simple so you actually stick with it. In ~20 minutes, you’ll get the no-fluff checklist to run your money on autopilot.

About the authors

• Helaine Olen — Personal-finance journalist and author known for cutting through industry myths.
• Jonathan Clements — Veteran personal-finance writer and author focused on low-cost, behavior-first investing.

Key takeaways

• Live below your means and build a cushion first.
• Pay off high-interest debt before investing aggressively.
• Automate: savings, bill pay, and investments on payday.
• Use tax-advantaged accounts (where available) to cut taxes.
• Prefer low-cost index funds/ETFs; avoid complexity and high fees.
• Insure big risks (health, disability, term life); skip gimmicks.
• Keep it simple so you’ll keep doing it.

This week’s playbook

1. Set a payday auto-transfer to high-yield savings and to a broad index fund.
2. Do a debt triage: list balances/APRs; target the highest rate with automatic extra payments.
3. Open or increase a tax-advantaged contribution (e.g., RA/TFSA/IRA/401(k) equivalent).
4. Run a quick fee check on your funds; swap to lower-cost options if possible.
5. Complete a basic insurance audit: health, disability, term life.

Powered by NotebookLM.

An experiment in using AI to hack your life and make your money work for you.

(Education only; not financial advice.)

Hosted on Acast. See acast.com/privacy for more information.