Saturday, October 23, 2010

Book Review: The Simple Dollar

I recently grabbed The Simple Dollar: How One Man Wiped Out His Debts and Achieved the Life of His Dreams by Trent Hamm on my Kindle while it was being offered as a freebie.  Debt free living is a popular topic these days and I was interested to learn how the author wiped out his debts and achieved the life of his dreams.  This book was inspired by the author's blog, The Simple Dollar.
Mr. Hamm explains how he and his wife found themselves deep in debt when his son was a baby.  He started reading books on personal finance, economics and philosophy.  He was determined to learn how a family could balance all the aspects of modern life on a limited income.  Over a period of three years,  the author got his finances under control, quit his job and devoted himself to writing full time. 

This book gives detailed information about how this family did what many American families dream of doing.  The author emphasizes the importance of communicating with your partner and setting realistic goals together.  He outlines a practical method of debt repayment that will be very effective if you are willing to sacrifice and stick with the plan you design.  He describes how he cut back on spending and also sold household items on eBay to supplement the family budget. 
The author explains that many people feel overwhelmed by their debt load.  He wants his readers to know that it is not hopeless. This book gives practical, common sense advice on how to manage your money and how to manage your life.  I found the book motivating and inspiring.  I like to read a book with a happy ending that explains exactly how you can have the same outcome. 

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