10 ways to save money on books
Posted
Feb 18 2008, 06:52 AM
by
Karen Datko
Rating:
This post comes from J.D. Roth at partner blog Get Rich Slowly.
I used to spend thousands of dollars a year on books, most of which I never read. In recent years, I've been trimming my book spending. I spent nearly $3,000 on books in 2003, but that number dropped to $700 in both 2006 and 2007. I hope to cut it even further in 2008.
How did I do it? Through self-discipline and some common-sense tricks.
Avoid new releases. New releases sell at a premium. Sometimes you can get them cheap at warehouse clubs or online booksellers. It's best to avoid them completely. Put them on hold at the library. If you're tempted to buy a newly released book, ask yourself: "Why do I need to own this now? Can I wait?"
Read reviews. Reviews help separate the wheat from the chaff. It's a terrible feeling to spend $25 on a book only to discover it's awful. Amazon is an excellent source for reader opinion. I also like Metacritic and The New Yorker. Find a source that you trust and rely upon it to screen books.
Find the classics online. Most of the literary canon is in the public domain. There are thousands of freely available texts for download at Project Gutenberg. One convenient way to read the classics is through DailyLit, a service that gives you bite-sized chunks of books in your inbox.
Search for bargains. I look to buy books cheap at garage sales, thrift stores and library book sales. If you're patient, and have a general idea of what you want, you can build a fantastic library for cheap. Don't forget: If you find a nice stash at a garage sale, you can negotiate for a better price.
Make Amazon your all-purpose book tool. Though I buy some books from Amazon, I mainly use the site as a reference. I'm able to check reviews, prices and related works. For many books, I can preview the first few pages. I can check release dates. My top use for Amazon is to compile a "reading list." Whenever I spot a book that might be interesting, I add it to my Amazon wish list. About once a month, I go through that list and put the books on hold at the library.
Frequent your public library. This is the cornerstone of my system. The true revolution came when I discovered my library's Web site. Referencing my Amazon wish list, I place books on hold. When they're ready, I stop after work to pick up a batch. I keep those books out for what seems like forever. My library system lets me renew for nearly six months. I believe that every smart, frugal person should make active use of the public library.
Explore used bookstores. Not all used booksellers are created equal. Scour your neighborhood to find the good ones. Some are stocked with romance novels and children's books. That's fine for some people, but I like a used bookstore with a diverse inventory. My wife has introduced me to the joys of the Edward R. Hamilton catalog; we placed an order just yesterday. Had we purchased these same books on Amazon, we would have spent more than twice as much.
Harness the power of the Internet. There are many book-related resources online:
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TitleTrader lets you swap books, DVDs and CDs. The site offers a points-based system for requests.
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PaperBackSwap allows members to swap books by mail. For each book you send (paying postage), you earn credit to receive a book.
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Bookins is similar to the first two services, except that it reverses the payment structure. You pay only to receive books. Shipping books is free. Why is this a big deal? If you have too many books and want to purge your library, you can post your list and then gradually get rid of your overstock at no cost.
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BookSwim promises to be like Netflix for books. I haven't heard any firsthand reviews of the service, but it looks promising.
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Audible is an expensive but useful option, especially if you enjoy listening to books on your iPod (as I do).
Buy only what you intend to read. This may seem obvious, but it's taken me a long time to learn. I tend to want to own any book of interest. This is a huge money sink if the books remain unread. One approach is to buy new books only after you've read those last purchased. I'm not to this point yet, but I'm much better than I used to be.
Share. Pass books around to family and friends. Ask to borrow theirs. Create an informal book exchange within your social network. This is an excellent way to stretch the value of a dollar.
Three years ago, I purged a large portion of my personal library. I made an even larger purge this summer. I spent a Saturday morning driving around town with dozens of boxes containing hundreds of books. After three hours of work, I'd earned nearly $350 and had cleared a bunch of clutter from our house. I still have a large library, but I've become more discerning about the books I bring into the house. Best of all, my book spending is under control.
Other articles of interest at Get Rich Slowly:
"25 of the best books about money"
"Building a cheap personal-finance library"
"DailyLit: Books delivered to your inbox"
