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What I Love About Reading

By Frugaling 11 Comments

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Books

When I was younger, you couldn’t pay me to read a book. My parents read to me as a child, but in middle and high school, I was a Sparknotes reader; preferably, about 15-30 minutes before exams.

Homer’s Odyssey sat mostly unread. I was supposed to have spent the summer before my freshman year of high school analyzing the prose and coming up with something intelligent to say. Instead, I read the first 75 pages and called it good.

Reading wasn’t something I naturally enjoyed doing. It felt boring and stuffy. While I enjoyed the cover artwork, the text never enticed me to stay until the end. Ironically, I loved purchasing new — open it up, bend the spine, smell the glue and paper, and see those perfect 90-degree corners — books. But again, they sat mostly unfinished.

Something clicked in college. Suddenly, I enjoyed turning the pages of a good book of fiction. I wanted to read more. And for the last eight to nine years, I’ve become further engrossed and in love with the act of reading.

Now 27, I want to read even more. A lot more. And I’m not talking about finding a good book to read before bed or in between classes or to start my day. I’m talking about reading for entire days — hours upon hours!

I want to get swept away in a non-fiction subject or in fictional characters, plots, and narratives. I want to be amazed by others’ writing and ideas; most of all, I want to learn and hone my own writing abilities through reading. I learn through talented authors. They’re my role models.

The act has become this thing I lust after. Inside, I say to the world, “Get out of my way, leave me alone, stop talking to me. I need to read!” I read like there’s no tomorrow, because I’m not sure if there is. I read because there’s something I need to learn and would be remiss not to know it. More and more pages turned, pulled, flipped. Hours pass uninterrupted; frankly, I prefer it that way.

As I reflect on my habit, I realize what I love most about it. The classic book is a deep dive into a subject — whether fiction or not. Inside this world — and unlike the Internet — nothing pops up. Nothing pokes or aggravates. Nothing makes suggestions. There aren’t click-bait or artificial headlines. I don’t break from the reading to click and subscribe. I don’t scroll down to get back to the content. Ralph Nader says the only time to escape advertisements might be sleep, but books still provide an oasis.

Frugality is much easier with a good book. In fact, reading might be the lowest cost of entertainment on Earth. Consuming television and movies is cheaper than ever, but remains more expensive than going and getting a book.

For instance, a movie might have a 90-minute runtime and cost $10 to buy. That’s roughly a dollar for every 10 minutes. Meanwhile the purchase price of a book might be comparable — say $10 — but the runtime is magnificent. Pick up a lengthy tome like Stephen King’s 11/22/63 at 849 pages, and you’ll be reading for a 20-30 hours. It’s pennies to read every hour — enjoyment at a fraction of the price. And this doesn’t even account for public libraries!

Living simply and frugally is easier with a good book. These hours spent avoiding material consumption for knowledge, empathy, and understanding. And best of all, it won’t leave your wallet reeling.

So, what will you read this summer?

Filed Under: Save Money Tagged With: Books, cost, Entertainment, Film, media, Movies, Read, Reading, Television

Piracy And The Rise Of Subscription Services: Are They Worth It?

By Frugaling 4 Comments

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Spotify Premium Subscription Service
Screenshot of Spotify, a popular music subscription service

Problematic piracy, answered by private corporations

Subscription services have become a popular way to access media content ranging from books, magazines, television, and films. Before analyzing what subscriptions might be worth your time and money, I wanted to give a little historical context for their popularity. For many content creators, the rise in subscription services was scary, as they were linked to declining revenue growth. But increased interest in subscription models was actually an answer to something that’s been seen as even more malicious by copyright holders: piracy.

In France, if you were caught pirating digital (i.e., downloading a film, book, magazine, etc. without consent from the copyright holder) material three times, the 2009 HADOPI law (French acronym for the policy) would restrict your access to the Internet. Suspension of Internet services, depending on the level of piracy, would vary from 2 months to one year. Opposition groups argued and protested the law, arguing that it restricts a human right to knowledge.

In recent years, France curtailed the targeting of individuals’ copyright infringements, in favor of prosecuting major corporations and hosts of pirated materials. Today, TorrentFreak, a popular news source about pirating, reported that the organization now had five years of data to share. HADOPI has given warnings to 3,249,481 people, which suggests that about 9% of French Internet users are participating in possible copyright infringement (French report, PDF). That’s a staggering number, and it’s likely greater because some people can circumvent basic detection of copyright infringement.

Anti-piracy groups like the Motion Picture Association of America (MPAA) have lobbied for greater Internet restrictions for infringers in the U.S. and around the world. The MPAA has suggested that if piracy were “properly” dealt with, revenue to the film industry would subsequently increase (researchers and scholars at the London School of Economics have suggested otherwise). It’s no surprise that the trade organization for content creators would like more control over copyright concerns. But the answer to their calls for action actually came from private companies starting subscription services.

What do subscription services offer?

They usually provide a simple, monthly fee that gives users access to everything. It’s like an all-you-can-eat buffet for digital content. Subscription services offer somewhat ancillary but important benefits to copyright holders and consumers, too: they manage and lessen the cost to enjoy content. It even attracts those who would otherwise be pirating content! Effectively, as Kevin Spacey suggested, when users are given an affordable product and given complete control over when they’d like to listen, watch, and read, piracy will naturally decline.

In this article, I wanted to analyze three popular subscription services: Amazon Kindle Unlimited, Netflix, and Spotify. Each offers a different selection of content and unlimited access for a fee.

If you join Netflix’s subscription service, you’ll gain access to thousands upon thousands of movies that can be instantly viewed. Similarly, Spotify provides “premium” users access to millions of songs, playlists, and radio without ads. Amazon Kindle Unlimited is the newest platform and offers frequent readers access to a tremendous library of ebooks for Kindle (or Kindle apps).

Should you pay for a subscription service?

I’m not going to answer that, as everyone’s preferences are different. Instead, I want to provide you with some straightforward questions to consider before purchasing any service.

  1. How much does it cost?
  2. Are there any student discounts and/or free trials?
  3. Can I share my account with other people? Could I split the cost with someone?
  4. How much will you use the service?
  5. Are there other ways to get the content without the cost?

Amazon Kindle Unlimited (Link)

  • Cost: $9.99 per month
  • Access: 600,000 books
  • Student discounts and/or free trials: No student discounts. Yes, there is a 30-day free trial.
  • Sharing: There are no reports that you can share this subscription.
  • Usage: Are you reading all the time and traveling a lot? Then this really stands out as one of the best subscription services.
  • Review: It’s by far the greatest collection of books in an unlimited, checkout service. By paying for the subscription fee you also get unlimited audiobook listening, too. If you are reading and then hop in your car, you can continue the story at exactly the point you left it! That’s a pretty incredible benefit if you frequently travel. One caution: there’s no information about how many books you can checkout at once. My guess is it functions on a one-at-a-time checkout basis — meaning you’ll need to “return” the ebook before you can get another one.
  • Other ways: Libraries are free and increasingly offering ebooks for electronic checkout.

Netflix

  • Cost: $7.99 per month
  • Access: Netflix doesn’t publicly list all the films, but a popular site that catalogues the digital store says there are over 10,000 titles.
  • Student discounts and/or free trials: No student discounts. Yes, there is a 30-day free trial.
  • Sharing: You can share your account with up to 2 people when you upgrade to the $8.99 per month subscription model. This could effectively reduce the cost of Netflix in half.
  • Usage: For the frequent TV or movie buff, Netflix is an easy first choice. Watching a movie could not be simpler and the bandwidth is impressive. You can easily stream HD-quality content on multiple devices (i.e., tablets, smartphones, computers, and televisions).
  • Review: The instant, on-demand collection that Netflix has built is impressive. Although, keep in mind that they have stiff competition from Amazon’s Prime media service. Netflix is a steward in the media distribution industry. They noticed that accounts were frequently being shared between other people and didn’t stop the practice. Instead, Netflix instituted a reasonable sharing and account model to allow members to split the costs.
  • Other ways: Hulu, Crackle, and YouTube all offer vast media stores where you can find tons of free content.

Spotify Premium

  • Cost: $9.99 per month
  • Access: Millions of songs, and offline access.
  • Student discounts and/or free trials: Yes, there is a student price of $4.99 per month. Yes, there is a 30-day free trial.
  • Sharing: Spotify explicitly states that you are not to share the service. If two users begin streaming at the same time, one user will be cut off. Spotify only allows one person at a time.
  • Usage: This is best music subscription service out there. Tons of companies have started their own, but Spotify leads the way. If you are listening to music everywhere you go and on multiple devices, no service is easier.
  • Review: It’s important to note that Spotify has a free, base level of usage. You can make playlists, listen to music, and start special Pandora-like radio stations at this ad-supported level. Once you pay for Premium, the ads are removed and you can save songs for offline use. This definitely comes in handy for the frequent air traveler or the ad averse.
  • Other ways: You can always keep the free level or use YouTube to listen to nearly any song.

For a price, the content world opens up and becomes an amazing buffet of entertainment. Over the years, premium services have become more affordable. But frankly, there’s still more progress before the prices are easily affordable for everyone across platforms. To enjoy the benefits of each platform to the fullest, you’d be spending about $30 per month. While not an exorbitant sum, this may not fit within a tightly constructed, frugal budget. The choice is yours, but it’s never been easier to go without pirating copyrighted material. That’s progress.

Filed Under: Save Money Tagged With: Amazon, Books, cost, Fee, Films, kindle, Monthly, Movies, Music, Netflix, Premium, Prime, service, Spotify, Subscription, Unlimited

Should You Ditch Your Car Loan? 10 Questions To Ask Yourself

By Frugaling 8 Comments

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Should You Ditch Your Car Loan? 10 Questions To Ask Yourself

Find a car, take out a loan, hand me the keys

In the summer of 2011, I bought a used Honda Civic. It was my first car buying experience. I had emailed a private owner through Craigslist, and found a time to meet and test drive the vehicle. After inspection and various checks at a local dealership, it was blessed by the car gods mechanics. Then and there, I decided to purchase the car for $11,000.

Naturally, as any indebted American knows, I didn’t have the funds to purchase a car. I was fresh out of college, with about $3,000 in savings. The only thing that made me creditworthy was my successful use of credit cards in college and a predicted income that could support the purchase of a vehicle.

The owner and I went to a local bank to see a notary and have a teller confirm the funds contained on my bank loan check. I wrote in the total purchase price and handed it over. In exchange, I was given a couple sets of keys.

The car was mine — all mine.

Honda Civic Coupe Car LoanLet the car loan payments begin

At nearly $200 per month, my five-year car loan is difficult on my budget. Unfortunately, when I first purchased the vehicle, I didn’t really have a budget. My budget was based on my ability to receive $15-20,000 in student loans every year — despite my tuition being paid for by a graduate assistantship.

Every month I was bleeding red, as the car loan payments would take any surpluses. But even more, I still didn’t have a budget to stick to and stay accountable for. Instead of selling or never buying the car, I convinced myself that I needed this automobile — at this price and quality.

My choice to buy a 2006 Honda Civic bordered on the egoistic. The voice inside my head said, “You deserve this nice car, Sam.” But the burden of spending $200 per month on top of student loans that were costing me 6.8% APR was a rough combination. It contributed greatly to a precipitous fall in net worth.

I could never properly calculate the true cost of the car, my student loans, and where my total debt would be in the following days, months, and years. Having a car — or, more specifically, a car loan — complicated everything.

Consider other options later, buy now

The entire buying process is like a wild carnival — walk in and you’ll see rides, games, laughter, prizes, and more. Browsing for cars at dealerships makes you feel special. People suddenly approach you, wondering what you’d like to buy, drive, lease, etc.

Car buying — whether with a private owner or dealer — is an American rite of passage. We own about 250 million vehicles between a population of 319 million people. Everything about this process seems tailored to these expectations about ownership and independence — powerful cultural values.

This swirl of attention, cultural identity, and peer support affected me when I plopped the original $11,000 to purchase my Honda Civic. I only considered other options (i.e., cheaper vehicles or not buying a car at all) about a year into my car loan. It was then that I realized all the powerful financial consequences of my decision.

Think: Debt, burden, liability, and depreciation

I hate to be another consumer, loving an inanimate object, but I have a real affinity for my car. My Honda Civic has taken me all over the midwest. When I moved to Iowa, I packed everything I could into my car and gave away what was left. It’s been my trusty sidekick for a while now, but it’s time for us to depart.

I finally listed it on Craigslist.

With nearly $200 a month in car loan payments, inevitable depreciation, insurance costs, and other debts that are demanding my attention, it’s time to finally sell my car. Not only is it the frugal thing to do, but the car has become a real luxury for me — there are other ways (i.e., the free bus) to get around in Iowa City.

Hopefully I can sell the car reasonably soon. I’d love to be able to reduce my monthly bills and start saving even more. I came up with a little list of questions to ask before ever buying another car again. Maybe these will help you resist the urge to splurge or even sell your car!

Questions for the car buyer/owner/seller:

  1. How much will this vehicle cost you over 10 years?
  2. Do you currently have an emergency fund set up to handle accidents and/or insurance premiums?
  3. How often will you drive your vehicle and for what purpose?
  4. What size vehicle do you need?
  5. How do you currently manage without a car (if you do not own one yet)?
  6. What’s motivating you to purchase this specific car?
  7. How do you feel about the impact your greenhouse gas emissions will have on the environment?
  8. What would the car provide that a regular bike could not offer?
  9. How would your budget deal with a spike in gas prices or if insurance premiums rise?
  10. Will this impact how many hours you need to work or extend your period before retirement?

Filed Under: Loans, Save Money Tagged With: AAA, car, car loan, Carbon Tax, civic, cost, Coupe, debt, Greenhouse Gases, honda, Student Loans, vehicle

3 Grooming Mistakes That Cost You Hundreds

By Frugaling 17 Comments

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3 grooming mistakes I was making for years and how I'm saving hundreds of dollars by changing my brand identification.

Brand identification is a powerful marketing tool. If I can make you relate to a particular product, I may have a customer for life. By 2015, the market for men’s grooming products will reach $33.2 billion. Companies like Johnson & Johnson, Proctor & Gamble, and Unilever all have a hand in this growing segment.

In the process of creating brands we love, these businesses have capitalized on directing us to more and more expensive beauty/grooming-related items. Every day, we meet purchasing decisions that require a frugal eye. Here are 3 grooming mistakes I was making for years and how I’m saving hundreds of dollars by changing my brand identification.

1. Buying the first deodorant you know, see

The average price of deodorant costs $4-8 (DailyFinance). Approaching the aisle, and you’ll find these sticks screaming at you with bright labels and translucent containers. Sometimes there are twin packs that advertise a deal. Don’t fall for the first available or the twin pack – these aren’t deals.

Axe sprays have become popular options for adolescents. These powerful coverups double as cheap colognes. Comically, Axe products are advertised to attract women and cover up the bad natural scents, but some natural pheromones are important in the attraction game:

For that reason, excessively masking your natural scent could become a detriment (Lifehacker).

A day without my deodorant is scary – it’s a must. But unlike the movement towards gels, liquid, and spray deodorant, the classic stick is still your most frugal option. Oftentimes, I can find clearance deodorant at Target stores for under $1 per stick.

Savings: $2-6 per stick.

2. Washing with liquid soap

Demonizing the old soap bar has been a crafted, effortful, and deceitful advertising campaign conducted for years. Companies realized that liquid soap could be sold for more money, used more frequently, and dispensed inefficiently. The combination is a boon to business.

I spent years buying into these wasteful products before I realized this err in thinking. Nowadays, buying bar soap is exceptionally affordable. I purchased 12 bars of Dial for about $3. That’s a steal compared to the $3 bottle of body wash.

Savings: ~$2 per bottle.

3. Shaving with razors

Buying refill blades/cartridges for an inexpensive Gillette razor can cost you over $30. Most everyone knows that these razor refills are a complete rip off, but the solutions can seem circuitous. The simple answer is changing your shave, style.

By opting for a trim versus shave, you’ll be saving your skin and budget. Shaving is incredibly tough to that outer epidermis, and often moisturizers and post-shave creams are advised. This should all be included in the price of shaving.

Instead, use a beard trimmer and select an appropriate length. Most trimmers offer a baseline standard for the popular shadow look. For a $20 trimmer, I have saved literally hundreds of dollars in shaving over the years.

Savings: At least $300.

Filed Under: Save Money, Social Justice Tagged With: Art of shaving, beauty products, cost, grooming, mens, mistakes, money

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