Free resources you can get from your local library to save thousands of dollars
THE STACK #49You already know that the library is a big, boring place where you borrow books, but did you know there are many helpful resources you get from the library that could help you save thousands of dollars every year?
Lately, I have been discovering all the amazing resources my local library offers, things I wouldn’t have thought I could find at a library. I will share some of these resources in today's newsletter with you.
THE STACK
Audiobooks - $179
Aside from being able to borrow physical books, you can also borrow audiobooks from the library using the Libby App. You only need a library card to create an account and can access any book in your local library. I have been using Libby almost every day for six years and have read over 200 books.
Instead of paying for an audiobook subscription, you could use Libby and save around $179 annually.
Sometimes, the book you want to read might not be available at your library or on hold, so a little hack I use to access more books is adding multiple library cards to my Libby profile. You could get a library card in the city you work at (if it’s different from where you live). You could also collaborate with friends who live in different cities to add their library cards to your profile, giving you access to a wider range of books.
Here is a list of books I have read on Libby.
Movies and Music - $504
If you want to cut back on your subscriptions, you can download the Hoopla app, which gives you access to thousands of free movies and music using your library card.
You can also access the Kanopy app with your library card and stream thousands of movies.
If you cancel your subscriptions and use the Hoopla or Kanopy app, you could save around $504 annually.
Co-working Space - $4,800
Many of us have moved to fully remote jobs in the last few years. As a solopreneur, I love that I can work from home, but because my parents are currently living with me, sometimes working at home is not always conducive.
The library has quiet study rooms where you can work without distraction. If you were to pay for a co-working space, this could cost you around $400 every month.
I usually go to the library on days when I have to do a lot of writing; in fact, I’m currently writing this newsletter from my favourite spot at the library.
The library also offers private muteboxes where you can book up to 2 hours for meetings. I usually book the muteboxes whenever I have coaching calls with my clients or a media interview where I don’t need any noise or distractions.
Event Space - $1,500
The library also offers access to event spaces for small events like birthdays, baby showers, graduations, etc. You can rent a room with a 125-person capacity for 8 hours for $300. A similar space could cost you at least $1,500 to rent.
LinkedIn Learning - $571
You can access LinkedIn Learning for free with your library card and access hundreds of free courses to help you develop your skills. LinkedIn Learning is a valuable resource I have used to learn new skills, which helped me land a job with a $35,000 bump in pay!
LinkedIn Learning costs $47.61/month, so using your library card could save you $571 annually.
Learn a new language - $120
If you want to learn a new language, you can use the Mango app for free with your library card.
Using Mango can help you save $120 annually.
Makerspace - $500
Most libraries offer a makerspace with equipment, tools and software that creatives and small businesses can use inside the library.
Some equipment you can find includes:
3D Printer
Sewing and Embroidery machine
Heat press
Flashforge Creator 3 Pro
Circuit Maker 3
Robotics and Coding equipment
Bookbinding
Badge maker press
Digital soldering iron
Toys and gaming consoles - $1,000
If you have children, you know they get bored with things easily. Instead of spending money on toys and games that they would ditch in three business days, you could borrow from your local library. It also reduces clutter in your home. Sounds like a win-win to me. I looked up some of the playsets they have at my local library, and some of them retail for up to $500!! 😱
You can also borrow gaming consoles like Xbox, Playstation and Nintendo Switch, saving you a good $300 - $600.
Free video games - $400
I got into playing video games the last couple of years (My favourite is Mario Party on Nintendo Switch), and I didn’t realize that aside from the gaming console, you also need to buy the games to play. If you’re a gamer or have kids, teenagers or young adults who love video games, it could turn into an expensive hobby.
Instead of buying expensive games that you’ll get bored of in two weeks, you can borrow video games from your local library. My local library does a good job of updating their catalogue with the latest games, and if they don’t have a game you’re looking for, you can put in a request to have them purchase it. Borrowing video games can help you save anywhere from $50 to $400 or more, depending on how frequently you purchase new games.
Gadgets and tools- $1,000
One of the coolest things I discovered is that you can borrow a variety of gadgets from the library.
Did you spill coffee on your computer, and it won’t turn on again? If you can’t afford to replace it immediately, you can borrow a laptop from your local library.
Embarking on a DIY project, and you don’t have the tools? Instead of buying an expensive tool that you’ll never use again, you can borrow it from your library.
Did you get invited to your first and last camping trip? You can borrow camping gear instead of buying gear that will forever collect dust in your basement.
Need to try out a new hobby? You can borrow a variety of sporting equipment without the costly upfront costs.
Want to see if this influencer life is for you? You can borrow high-tech cameras, lighting, tripods, and even iPads from your local library.
Here’s a list of some equipment I found that my library offers:
Laptop
iPad
Bicycle
Scooter
DSLR camera
Tripod
GoPro
DJI Osmo
Softbox lighting
Musical Instruments
Podcast mic, mixers and other recording equipment
Tools
Sports equipment
Kitchen Appliances
The library is an underutilized resource, and from this list, you could save up to a whopping $10,574!! What would you do with that extra $10K?
THE TOOL
What I’m currently reading
This is How You Heal by Brianna Wiest
I thought this book would be a heavy read, but it turned out the opposite and isn’t trauma-focused. Granted, I bawled out crying on the first chapter, but it felt easier to read after picking it up again.
The chapters are short and mostly pose questions to help you view your life from a different perspective.
Give it a read, but remember to save your coins and borrow it from Libby or Hoopla.
P.S, this is the page that had me bawling 😭
THE ACCOUNTABILITY
How much can you save this year by using the resources in your local library? Before you purchase any low-use item, search your library to see if that item is available. Start keeping track of how much you can save by using the library. Feel free to share your numbers with me.
So far this year, I’m already at $3,100 saved!
THE COURAGE
THE KNOWLEDGE
Contingent Deferred Sales Charge (CDSC)
A fee (also known as a back-end load) that investors pay when they sell shares of a mutual fund within a certain period, typically ranging from 1 to 7 years after purchase. The charge decreases over time and is meant to discourage short-term trading. The fee is contingent because it only applies if the shares are sold before the specified period ends.
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