NEW BOOK: “The Simple Dollar: How One Man Wiped Out His Debts and Achieved the Life of His Dreams”

by News Guy on July 6, 2010

Trent Hamm, author of the new book and founder of the popular website of the same name, The Simple Dollar, offers strategies and hope for creating a happy and debt free life

New York, NY —The realities of our current economic status have led people to struggle with debt or the fear of encountering monetary hardship.  Rather than extensively researched financial solutions, Americans need a real and simple way to manage their spending and savings, in good and bad times.

Like many of us today, author Trent Hamm, founder of the popular personal finance site, found himself in financial distress with seemingly no way out.  After navigating the modern economic minefield and getting his finances on track, Hamm began offering his tips for personal finance management via his blog in 2006.  He now shares how he transformed his life by curbing his spending in The Simple Dollar: How One Man Wiped Out His Debts and Achieved the Life of His Dreams (FT Press, ISBN 13: 9780137054351, $19.99, Paperback, 255 pages, July 2010).  The lessons he presents for readers include debt repayment, emergency fund preparation, trimming nonessential spending, goal planning and building stable relationships in your home and career, all of which can help you reach financial security in five easy steps.

“The Simple Dollar tells the story of how I got into financial trouble and how I escaped from it,” says Hamm. “Intertwined with that story are the details on how exactly I did it, along with some really fascinating research into the deeper causes of my mistakes and how others can learn from those mistakes.”

Hamm’s advice empowers readers to take control of their money and dreams with practical and realistic changes. Each chapter ends with five specific steps for putting your financial plan into action today.  Following are five tips excerpted from The Simple Dollar, which will allow readers to move forward to a more rewarding and happy life:

  1. Escape the Plastic Prison: Eliminating debts from your life gives you personal freedom.  Discuss with your spouse your repayment plan, make a list of all your debts with the highest interest rate at the top—pay this off first with minimum payments to all the others then continue down the list.
  2. The Power of Goals: The key to changing your life comes from short-term goals that contribute to your larger goal in life.  The gratification that comes from accomplishing these will give you motivation to continue.  There is a 42% increase in achieving your goals if you write them down.
  3. Frugality as Framework: Frugality is not the same as cheap.  You can still trim spending without cutting the things you value.  Never shop without knowing exactly what you want, use a 30-day rule for unplanned purchases, learn to cook and don’t fear leftovers, rent housing unless you plan to live somewhere more than five years or have at least 20% of the down payment.
  4. Recasting Retirement: Retirement is no longer a word for slipping into financial peace as you age, but rather a savings tool to do what excites and challenges you.  Take advantage of all matching funds in your 401(k)/401(b), set up a Roth IRA (a retirement account independent of your job), and include your adult children in your plans.
  5. Cultivating People and Opportunities: Maximizing the positive relationship in your life will have a profound impact on your financial success. Spend time talking with your partner about money and life, never borrow money from friends or family, realize it’s the people you spend your time with that matter not the money spent (invite friends over rather than going out), follow the golden rule.

The Simple Dollar gives readers the motivation and guidelines to manage their money and prepare for the future, and helps them to turn it around if they’ve been caught in the economic collapse.

Read more about Trent Hamm’s story and tips at In addition, read stories from the 12 “Friends of The Simple Dollar,” each of whom used an advance copy of the book and applied one chapter of advice for a full month, with amazing personal and financial results.   Read their personal stories here

About Trent Hamm

Trent Hamm transformed his life and began sharing the lessons he learned through his website, The Simple Dollar (, which has quickly grown into one of the nation’s most popular personal sites, attracting more than 600,000 visitors every month.  He is the author of 365 Ways to Live Cheap: Your Everyday Guide to Saving Money, and writes articles that are regularly syndicated to hundred of small newspapers and newsletters.

About FP Press

FT Press (, and imprint of Pearson, publishes high quality books in the areas of General Business, Finance and Investing, Sales and Marketing, Leadership, Management and Strategy, Human Resources, and Global Business. Our brand is built on the concept of signing and publishing the world’s best minds on the most relevant topics.

About Pearson

Pearson (NYSE:PSO), the global leader in education and education technology, is home to such respected brands as FT Press ( and Wharton School Publishing (, as well as Addison-Wesley Professional, Cisco Press, Exam Cram, IBM Press, Prentice Hall Professional, Que, and Sams Publishing, which have as their online publishing arm, InformIT (—The Trusted Technology Learning Source. Pearson is also co-founder, with O’Reilly Media Inc., of Safari Books Online (, the premier on-demand technology content library providing thousands of expert reference materials through a single point of contact, including expert technology, creative and design, industry and management resources in video, audio and written formats. Pearson’s other primary businesses include the Financial Times Group and the Penguin Group. For more information, go to

The Simple Dollar
Trent Hamm
255 pages
July 2010
ISBN 13: 9780137054251

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