My motto is "as complex as I need and as simple as I can get away with". Of course, everyone will have their own opinions as to how complex is necessary and how much effort such complexity is worth. These are my opinions and the reasons behind them. It is my hope that these reflections will be useful in helping you sort out your own balance.
Step 1: Gather the MATERIALS
about 20 index cards, 3" x 5", unlined (for the pages) - I got mine at Staples... or was it Office Max?
2 binder clips (to hold it together) - it's a ring that opens on a hinge and stays closed via interlocking teeth. I think I found mine at Target.
clear packing tape (for the cover) - any clear tape will do; wider tape means less work
hole punch - either one that does one hole at a time or one with hole spacing 2" apart or less
a computer and printer (for the templates) - if your printer can't handle 3x5 cards then you can use the same letter sized card-stock that you're using for the cover; you'll need about 5 sheets. You'll also need something to cut each sheet into quarters, like a scissor or a paper trimmer.