Be Romanced by the Library

libraryIn my original post about why you should visit the library, I argued that no matter who you are, the library has something for you. Aside from the obvious books, you have newspapers, magazines, movies, internet access, classes and activities for kids. The best part? It’s all free.

We know the library can save us money. But could it make us rich?

I came across a post by Mr. Money Mustache I thought was both entertaining and informative in its description of how libraries can make us rich. In his tongue-in-cheek style, MMM starts off:

A few years ago, I learned the most shocking fact about public libraries:

Not everybody uses them!

“No!”, you may say, “That’s impossible – how else do people get their books?”

The scary answer that I discovered is that some people have developed a habit of regularly buying books which cost them $10 – $30 each, reading them, and then collecting them on an ever-growing series of bookshelves.

The post talks about the excuses people give for collecting books, and the author admits to feeling great when walking past a large collection of books. His collection is large too. But the difference, in his words:

…I have several hundred thousand of them, and a paid staff who roams through my modern curved-glass 20,000 square foot book storage facility, automatically maintaining them and buying more for me constantly. I have so many books that I share them with everyone in my entire city, and we’ve even come to an agreement where we ALL pay just a few dollars per year each for the facility, and yet any one of us can borrow any of the books.

If you haven’t figured it out, they call the facility the “Public Library”. It wasn’t until recently that I started thinking of the library in this way. Instead of each of us maintaining an individual collection of books, why not pool our money to create and maintain something far larger than any of us could achieve alone?

The post ends with a description of all the awesome things his family does in the library. Each family member can indulge his or her interests without taking on extra debt or expense. His family has 30 books checked out at any given time, which is ambitious. But that’s the thing – it doesn’t matter if you don’t finish everything. You didn’t pay for the book, so nothing is lost.

Now that we’re aware of what the library has to offer, think about your current buying habits. How many times a month do you walk into a bookstore just to take a peek, only to walk out with a new title or two? Do you enjoy adding to your DVD collection that never seems to be complete? These things cost real money. Money you’re earning from that dead-end desk job or retail job you hate, day after day, week after week with no end in sight. Have you considered that maybe the reason you’re chained to that job is you’re not visiting the library often enough?

Let’s say each month you buy 4 books at $20 a pop, 2 DVDs at $15 each, and 4 magazines at $4 each. In one year you’ve spent $1,512 and have that much less space in your home. After a decade, that’s over $26,920 compounded at 8%.

Even after 10 years, your collection will be no match for the library. So why compete?

Mr. Money Mustache sums up well the library’s role in our lives:

It romances all of us and sucks us in by catering to every one of our interests.

Be romanced by the library and watch your riches grow.

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8 thoughts on “Be Romanced by the Library

  1. Pingback: Books Are Beacons of Possibility | Jonathan Hilton

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  4. My library also has a database service for free music downloads-I get three a week. If I had purchased that many songs from iTunes that would be an annual savings of at least $156!

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