Financial freedom is somehow stability in the life of every person. Everyone wants it but only half of them know how to manage it. In fact, all results can be based on three keys, time management, a company goal, and basic knowledge.
Meanwhile, lots of financial gurus practice another approach. As of them, striving is the main aspect to reach any goal. But how can you strive to do something if there are hundreds of online website that can deal with your monetary solutions? By chance or purposely, a person would like to give all responsibility to others.
He wants to multiply income or deal with debts just by sitting on a sofa sipping some drinks. So, is it possible nowadays to reach a target on your own? Or, people anyhow should turn to helpers. Let’s talk about services which can be helpful once a person decided to gain financial independence.
The Simple Dollar may turn out to be your personal finance assistant.
Back to Basics
On their website you can come across the next statement, – “Simplifying personal finance for eleven years and counting”. Such a motto should provoke interest in people’s minds. Essentially, this is a blog where everyone can find the answers to financial questions.
The Simple Dollar was founded in 2006 when Trent Hamm faced big issues with debts and decided to get rid of them once and forever. After working on multiplying his finances and dealing with those debts, he started a website where he could share his life-saving and money-making ideas.
As of now, The Simple Dollar can rise around 2,3 million of unique visitors per month. It is a large community for people from around the world to learn and share their financial strategies. The editors in exchange provide well-researched and informative content, reviews on credit cards and share tips on investments, banking, and insurance blocks of the market.
Trent’s business is ranked in a top 10 personal finance blogs on the Kiplinger platform and top 15 in detailed.com.
Other statistics on The Simple Dollar is below:
Based on his blog, he wrote two books that serve as a source to discover the ways of living cheap, “The Simple Dollar” and “365 Ways to Live Cheap”.
What are the features and services you can discover with The Simple Dollar?
On the front page, a user can see the main goals provided by this blog. The team and Trent himself promise:
- To help you to understand the efficacy of the credit cards and discover their bonuses.
- To find the right loans and know how to choose among them.
- To learn more about finance.
There are lots of tools that you can use. For example, to compare loan companies. Also, any person may find already conducted comparisons on credit cards and insurances. So that The Simple Dollar personalizes itself as an effective people financial helper.
Other content found on the website is a variety of articles on different financial subjects. And, additionally, it is free of charge service where you can get useful information and learn how to manage all the money aspects.
It is worth mentioning that the creative team is not only upgrading The Simple Dollar website but developing other brands with similar targets.
They made separate platforms/blogs dedicated in particular to one financial topic. To check them scroll to the bottom of the page and find:
- Bankrate – find and compare mortgages, savings, credit card rates.
- CreditCards.com – a service for comparing credit cards.
- The Points Guy – a tool for smart traveling.
- Nextadvisor – a service for online reviews.
In fact, all 4 brands are under another management but they are still referred to one chain.
Let’s overview some of the most informative sections of the blog and define their goals and pros.
The Simple Dollar team regularly compares the credit cards and their bonuses. Thus, they can offer their readers to choose the best one. Also, they prepared FAQs about all the aspects of getting it.
For example, let’s go to the Best Credit Cards of August category. There a person may find the top 4 recent card options. Besides, there is the information on who should get it, how to use it, and why you’ll love it. After comparing all the deals, the users can apply just right through this service. Of course, all links are affiliate ones, so the user will be directly redirected to the banks websites.
Also, The Simple Dollar offers to figure out what card to choose for a particular transaction. A user should sort his search by an annual fee, great signup bonuses, card name, etc. Thus, the tool will pick the optimal option for you.
Keep in mind, the list of credit cards on the page is based on the sponsorship. Banks pay for such advertising and The Simple Dollar gets compensation from them. But as the blog mentions this fact does not affect the overall recommendation.
By checking the page, there is also brief information on credit card interest rates, denials, and tips when applying for a card.
If you need to compare such services, this tool is helpful to cope with this task. But there is nothing extraordinary and unique.
- Variety of credit card choices with their bonuses.
- FAQs about credit cards.
The service claims to break all the complications connected with receiving a loan, so its readers can make the most informed choices. The Simple Dollar covers auto, personal, students, and many other loan topics.
Concerning their tools, they offer you to compare loan companies. You select purpose, amount, credit rating, state, and it results in showing the companies suitable for your case. Also, one of the options is to calculate a mortgage.
One disadvantage which readers may face is that their articles are long to read. On the other hand, the blog post will speak of all the details of the subject and a person will satisfy his knowledge cravings. Even though, it can take too long to finish at least one page.
In addition, they make a post about top picks loans of the year. Thus, anyone can choose one from the article and apply there.
- a tool comparing the loans
- mortgage calculator
Thinking about insurance for your house or pet? This page will ideally help you to choose the best company to rely on.
Also, the experts on insurance strategies can explain in detail why you should or should not think of insurance before retirement. Again, there a person may find a tool to check the best rates.
All the topics are auto, home, renters, life, health, and pet insurances. FAQ on credits and risks connected with insurance.
- a tool to find the best insurance option
Usually, this page on personal financial websites is nothing but advertising one. If to read properly the articles, anyone may come across a hidden ad or advice to choose a particular bank.
The Simple Dollar itself claims to help you to choose a bank, the best rates and suitable for your case savings accounts.
The page allows calculating, for example, your savings.
If you have doubts about choosing the bank or you want to know how does a bank work? The Simple Dollar will dispel the most common illusions.
- a tool to calculate savings
The shortest in the options section, which deals with IRA, ROTH IRA accounts and stock trading brokers’ information. The Simple Dollar avails the topics on how to choose the account and what are the tips on how to get the best rate. No tools, just a simple blog.
The article which serves as an example of this section is male and female investments.
- brief information about all you need to know
All these categories are finalized with the Blog section. There any user comes across a mixed selection of related articles. If speaking of the conveniency of the topics covered, the blog is quite useful.
But some of them are overloaded with information. It means that when you need to read full information for example about the loans, you will cope with such a task to the full and more. But, if you are looking for a brief text to read, this blog is not the one to just look through.
Besides, it is important to say that their tools may be straightaway applied without reading the articles and explanations for their employment. Thus, it is a convenient feature to save time.
Popular Media Coverage
There is not much information on what popular media wrote about The Simple Dollar but they provide their users with the next references.
While looking for a piece of materials where this blog was mentioned, a user may come across the next reviews:
- Business Insider. Trent Hamm writes a column for them and shares the tips from his blog.
- The Christian Science Monitor recommends his blog for those who need both cents and sense.
- Wharton Business Radio invited Trent for an interview to speak of his blog.
The Simple Dollar book tells the history of Trent and his blog. There is a review of the book by All Business platform. Miranda Marquit, the journalist of this website, shares her opinion on her favorite bits of the book.
J.D. Roth, founder of Get Rich Slowly wrote a review on Trent’s 365 Ways to Live Cheap. The book tells about tips on saving money. There Trent says that it is possible to save up to $63 a year by using cold water for most washing.
Also, that you’d better buy a deep freezer to store there cold meat discounted 30 percent or more, etc. The tips are mostly practical ones and readers should try to apply them for one year.
Also, J. D. Roth mentions:
- He thinks that Hamm’s book contains useful tips for smart living.
- The book is such a pool of ideas.
- There are practical ways to save money by car replacement, installment of a programmable thermostat, and even the benefits from frequent exercising.
- The book is very cheap, and all the segments of the population can afford to buy it.
All in all, he recommends his audience to buy it and discover Trent Hamm’s blog in detail.
The below-mentioned facts are based only on Trent’s story. As far as the information on references to the website or any interviews is mostly hidden from the public eye.
- He had more than $20K debt which pushed him to create The Simple Dollar. Trent wanted to share his story of how he deals with the difficulties and to get feedback from readers around the world facing the same issues.
- He wrote about 3000 articles to the blog. As it was mentioned before, two articles per day. Today this blog along with his published books are the main sources of Trent’s income.
- Trent has switched to a vegan diet a few years ago. As a result, he lost around 30 pounds which allowed him to spend less.
So, it is high time to say whether this blog is helpful or readers may turn to other similar projects.
What Is the Verdict?
Usually, before giving my feedback on different services, I compare them. As far as the previous platforms I have reviewed were Wise Bread by Will Chen and co., Get Rich Slowly by J.D. Roth, I came up with the next statements. I admire the way Trent Hamm cares about his users by providing them BOTH articles and related tools.
So, if he wants a user to read the information on a credit card, loan, he makes sure people try to calculate, compare, etc themselves. His tools are not universal ones but they are suitable for every single page of The Simple Dollar.
Also, I read some bad feedback about Trent Hamm personally, and I made my mind that if you click on his website to find interesting information, all the rest is not important.
The Simple Dollar blog is also quite simple, there are thousands of articles that you can come across in other blogs. Besides, people may download or buy his books which concern practical tips on cheap living.
Talking about the promotions, sponsorships, and ads of the blog, the choices of best deals are ordinary. Of course, if a particular bank gives you compensation, you should deserve it by speaking of its bonuses. But the tool attached to the page gives you the chance to compare service on your own.
The idea of writing such a blog is popular. A person who has had issues with his debts decided to write about it and earn money by doing such an activity. Yes, it worked in his favor. But how many more websites with the same target are going to appear on the Internet? So, it is completely up to people to choose which service to choose.
Whether it is The Simple Dollar, Get Rich Slowly or Wise Bread, the idea is still the same. Your desire to change your life by managing finance is all you need to do at the beginning. No platforms promising to solve all your problems will contribute to your financial independence.
If you want to try some hacks on living large, you’d better buy his “365 ways to Live Cheap” book.
Linkedin Profile with Licenses & Certifications