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Unexpected Ways The Library Can Save You Money

Unexpected Ways The Library Can Save You Money
    The Library of Congress

    When I say “library” most of you are going to picture books. Getting books from the library is the most inexpensive way to read books. But there are unexpected ways that libraries can save you money:

    Preview Music

    I love buying music. Unforatunately I have often bought CDs only to find out that I didn’t like the album, or only liked one song.  This means the music languishes in the library, unplayed. Even previewing snippets online doesn’t entirely get rid of this problem, since so many songs change after the first thirty seconds.

    At the library I can borrow CDs and give them a full listen before deciding to buy them. This saves me from spending money on things I will listen to once.

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    This also allows me to try genres outside of my usual listening fare. I have listened to world music, opera, old-time blues and something that I could only classify as Scandinavian Tolkein death metal.

    Read Magazines

    I like magazines. They are great information sources and provide lots of light reading. My reading tastes vary and I love everything from archaeology to cooking to crafting to software development to political commentary. While I like magazines, I have neither the time to read everything, nor the interest to read every issue.

    There are two general ways to get magazines: buy them at the newsstand or subscribe. Buying at the newsstand allows you to pick the issues you want to read, but costs many times more than a subscription. Subscriptions are less expensive, but if you don’t get to reading the magazines, it is wasted money. They also pile up around the house, waiting for a time when you “can get to them”. In my case, this can mean six months of back issues, depending on how busy I am.

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    Most libraries still carry a wide variety of magazines and even have back issues. You can read as much as you wish, when you want to,  for free. This method has the added bonus of not having to dispose of the magazines once they are read. They are shared with others who wish to read them.

    Note: If your local library doesn’t carry a favorite, ask them to. They subscribe based on popularity.

    Activities and Lectures

    Most public libraries have large meeting rooms where they hold activities and lectures. These are usually free or low-cost, and cover a wide variety of interests. My local library had presentations on henna, fishing and quilting one week this month.

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    Some community groups will also meet at libraries, and provide public outreach informational programs in exchange for the meeting space. Our local astronomy club gave a demonstration of telescopes at the library one Saturday afternoon, allowing children to examine telescopes, and then see a presentation on constellations inside.

    Movies

    There are many ways to see movies at a price lower than the movie theater. I used to love renting movies, but I could never manage to get them back the next day. Getting movies from the library gets around this, and movies from the library are generally free. They might not have hundreds of copies of the recent release, but if you are willing to wait a week, you can get them. Plus, with multi–week check out, you don’t have to worry about getting them back the next day!

    A Bonus Tip To Making The Library Work Harder For You

    Almost all libraries these days have their catalog and reservation system online. This means that you can place a hold on an item anytime, from any computer and the item will be pulled and waiting for you to pick up. How great is it to browse the library catalogs at midnight? Items can be reserved even before they arrive at the library, making it possible to get new books and movies the moment they are released.

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    Libraries often have inter-library loan programs as well, so if your local library doesn’t have an item, they can probably arrange to have it borrowed from another library.

    Even though I read mostly e-books these days I am spending more time at my library. I read magazines, investigate new music and pick out movies. Do you have anything you use your library for that saves you money? Share below.

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    Published on November 20, 2018

    The Best Ways to Save Money Even Impulsive Spenders Can Get Behind

    The Best Ways to Save Money Even Impulsive Spenders Can Get Behind

    The truth is, there are many “money saving guides” online, but most don’t cover the root issue for not saving.

    Once I’d discovered a few key factors that allowed me to save 10k in one year, I realized why most articles couldn’t help me. The problem is that even with the right strategies you can still fail to save money. You need to have the right systems in place and the right mindset.

    In this guide, I’ll cover the best ways to save money — practical yet powerful steps you can take to start saving more. It won’t be easy but with hard work, I’m confident you’ll be able to save more money–even if you’re an impulsive spender.

    Why Your Past Prevents You from Saving Money

    Are you constantly thinking about your financial mistakes?

    If so, these thoughts are holding you back from saving.

    I get it, you wish you could go back in time to avoid your financial downfalls. But dwelling over your past will only rob you from your future. Instead, reflect on your mistakes and ask yourself what lessons you can learn from them.

    It wasn’t easy for me to accept that I had accumulated thousands of dollars in credit card debt. Once I did, I started heading in the right direction. Embrace your past failures and use them as an opportunity to set new financial goals.

    For example, after accepting that you’re thousands of dollars in debt create a plan to be debt free in a year or two. This way when you’ll be at peace even when you get negative thoughts about your finances. Now you can focus more time on saving and less on your past financial mistakes.

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    How to Effortlessly Track Your Spending

    Stop manually tracking your spending.

    Leverage powerful analytic tools such as Personal Capital and these money management apps to do the work for you. This tool has worked for me and has kept me motivated to why I’m saving in the first place. Once you login to your Personal Capital dashboard, you’re able to view your net worth.

    When I’d first signed up with Personal Capital, I had a negative net worth, but this motivated me to save more. With this tool, you can also view your spending patterns, expenses, and how much money you’re saving.

    Use your net worth as your north star to saving more. Whenever you experience financial setbacks, view how far you’ve come along. Saving money is only half the battle, being consistent is the other half.

    The Truth on Why You Keep Failing

    Saving money isn’t sexy. If it was, wouldn’t everyone be doing it?

    Some people are natural savers, but most are impulsive spenders. Instead of denying that you’re an impulsive spender, embrace it.

    Don’t try to save 60 to 70% of your income if this means you’ll live a miserable life. Saving money isn’t a race but a marathon. You’re saving for retirement and for large purchases.

    If you’re currently having a hard time saving, start spending more money on nice things. This may sound counterintuitive but hear me out. Wouldn’t it be better to save $200 each month for 12 months instead of $500 for 3 months?

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    Most people run into trouble because they create budgets that set them up for failure. This system won’t work for those who are frugal, but chances are they don’t need help saving. This system is for those who can’t save money and need to be rewarded for their hard work.

    Only because you’re buying nice things doesn’t mean that you’ll save less. Here are some rules you should have in place:

    1. Save more than 50% of your available money (after expenses)
    2. Only buy nice things after saving
    3. Automate your savings with automatic bank transfers

    These are the same rules that helped me save thousands each year while buying the latest iPhone. Focus only on items that are important to you. Remember, you can afford anything but not everything.

    How to Foolproof Yourself out of Debt

    Personal finance is a game. On one end, you’re earning money; and on the to other, you’re saving. But what ends up counting in the end isn’t how much you earn but how much you save. Research shows that about 60% of Americans spend more than they save.[1]

    So how can you separate yourself from the 60%?

    By not accumulating more debt. This way you’ll have more money to save and avoid having more financial obligations. A great way to stop accumulating debt is using cash to pay for all your transactions.

    This will be challenging, depending on how reliant you are with your credit card, but it’s worth the effort. Not only will you stop accruing debt, but you’ll also be more conscious with what you buy.

    For example, you’ll think twice about purchasing a new $200 headphone despite having the cash to buy them. According to a poll conducted by The CreditCards.com, 5 out of 6 Americans are impulsive spenders.[2]

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    Telling yourself that you’ll have the discipline to not buy things won’t cut it. This is equal to having junk food in your fridge while trying to eat healthy–it’s only a matter of time before you slip. By using cash to make your purchases, you’ll spend less and save more.

    A Proven Formula to Skyrocket Your Savings

    Having proven systems in place to help you save more is important, but they’re not the best way to save money.

    You can search for dozens of ways to save money, but there’ll always be a limit. Instead of spending the majority of your effort saving, look for ways to increase your income. The truth is that once you have the right systems in place, saving is easy.

    What’s challenging is earning more money. There are many routes you can take to achieve this. For example, you can work long and hard at your current job to earn a raise. But there’s one problem–you’re depending on someone else to give you a raise.

    Your company will have to have the budget, and you’ll have to know how to toot your own horn to get this raise. This isn’t to say that earning a raise is impossible, but things are better when you’re in control right? That’s why building a side-hustle is the best way to increase your income.

    Think of your side-hustle as a part-time job doing something you enjoy. You can sell items on eBay for a profit, or design websites for small businesses. Building a side-hustle will be on the hardest things you’ll do, be too stubborn to quit.

    During the early stages, you won’t be making money and that’s okay. Since you already have a source of income, you won’t be dependent on your side-hustle to pay for your expenses. Depending on how much time you invest in your side-hustle, it can one day replace your current income.

    Whatever route you take, focus more on earning and save as much as possible. You have more control than you give yourself credit for.

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    Transform Yourself into a Saving Money Machine

    Saving money isn’t complicated but it’s one of the hardest things you’ll do.

    By learning from your mistakes and rewarding yourself after saving you’ll save more. What would you do with an extra $200 or $500 each month? To some, this is life-changing money that can improve the quality of their lives.

    The truth is saving money is an art. Save too much and you’ll quit, but save too little and you’ll pay for the consequences in the future. Saving money takes effort and having the right systems in place.

    Imagine if you’d started saving an extra $100 this next month? Or, saved $20K in one year? Although it’s hard to imagine, this can be your reality if you follow the principles covered in this guide.

    Take a moment to brainstorm which goals you’d be able to reach if you had extra money each month. Use these goals as motivation to help you stay on track on your journey to saving more. If I was able to save thousands of dollars with little guidance, imagine what you’ll be able to do.

    What are you waiting for? Go and start saving money, the sky is your limit.

    Featured photo credit: rawpixel via unsplash.com

    Reference

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