In my series of articles on frugal hobbies, I break down an individual hobby for people who want to have fun without breaking the bank. The overview will include the details of the hobby itself, how to go into it with a frugal mindset, and the best ways to make use of your money. Not all of the hobbies covered are cheap or easy to get into, but I find ways to help you save money while still being able to partake in your favorite pastimes.
Reading
Reading is an incredibly productive hobby. It’s one that is nice to your wallet, but also very enriching and well worth every dollar you spend. Whatever your interests are, there will be more material available to you than you could ever get through in a single lifetime. From history, philosophy, science fiction, fantasy, and memoirs – the possibilities are endless. The hardest part about reading is just making the time for it. So, make it a goal to read a bit each day. Soon it will become a habit, and you’ll find yourself reading constantly!
The Costs Behind Reading
It may sound odd to you, at least at first. However, if you do the math, reading turns out to be one of the most cost effective hobbies. Per dollar, you generally get a lot of time spent doing something fun when you invest your money in a book.
A good comparison is probably video games. A new game may cost around $60. For the average game, you can probably spend 10-20 hours on it before getting bored. That isn’t the case for every game, especially large RPGs, but that is probably a fair estimation for most new releases. That means you’re spending at least $3 per hour that you get out of the game.
Now, let’s compare that to a typical novel (of around 100,000 words). Most people can probably finish that book in 5-8 hours. On Amazon, the typical mass market paperback book sells for about $8-10. That means books generally give you 1 hour of fun for every $1-2 you spend. Of course, in this example there are exceptions in both cases and readability and replayability factor into the “value” you get out of games and books, but it illustrates the point. Per dollar spent, books have good entertainment value, and they’re easier to indulge in while sticking to a tight budget.
If you’re on a particularly strict budget, you can go to a local used bookstore (where books are just a few dollars) or use the library. In terms of cost-effectiveness you can’t beat the library, it’s free after all.
As a bit of a disclaimer, I’m not saying that video games are bad, or even that they should be avoided in favor of books. I’m simply saying that books are cheap, and they can certainly provide a lot of value for their price.
Stores
Okay, now that we have covered the general costs, lets go over where the best deals can be found. It may surprise you, but online isn’t always best. On top of that, the online stores you thought were good may actually be overpriced. Let’s dive in!
Brick & Mortar Shops
First up, let’s talking about the big bookstores these days. The first thing that comes to your mind is likely something along the lines of Barnes & Noble or Books-A-Million. These places aren’t necessarily overpriced, but they’re definitely not good when you’re on a budget. They’re more likely to keep stock of more expensive editions – like hard backs and tall paperback covers. These days I find fewer mass market releases in the range of $8-12 and more fancy covers that are $16 or more. That’s a huge difference! Consequently, I have a hard time justifying purchases from these stores.
Used Bookstores
The real winner in the retail space is used bookstores. At the more expensive ones, each book will cost $4-6. At the more reasonable used bookstores, each item will run you as as little as $1 or as much as $5. Used bookstores will generally be the best bang for your buck when purchasing books – whether they’re biography, fiction, hardcover, paperback, or anything else.
Online
There are some good online retailers, but many fall into the same trap. Take Amazon, for example. You can usually find the mass market releases that are $8-10. That’s perfectly fine, reasonable, and competitive. However, when inventory is low, resellers tend to drive those prices through the roof. So, when it’s in stock everything is pretty reasonable. When things aren’t in stock, the prices can be outlandish.
Libraries
If you want to read, but don’t have much disposable income, then the library will be your best friend. You can check out books for free – and nothing can be that price point! Of course, you’ll have to return them, but that’s not a big loss since your library probably has countless books for you to go through. The average library tends to have most of the big names and best sellers. For more niche books or authors, you may have to search several libraries or reach out to a specific one.
Keep A Record Of Books You’ve Finished
You don’t have to do this, but it can be fun to keep a record of all the books you read. That way, in case you forget, you can go back to the list and see what you’ve already read at one point or another. On top of that, it’s nice to look back and see how much progress you’ve made. Being able to see how many books you’ve read over a few months or a year can make you feel like you accomplished a lot!
Set Daily Reading Goals
As I mentioned earlier, setting a goal to read each day will help you stay consistent and build a habit. In my opinion, it’s worthwhile to try to start with at least 10 pages per day. That can be done quickly, so it’s not much of an investment of your time. Plus, that’s an easy goal to achieve. Eventually, you’ll be able to carve out more and more time for reading. Besides, if you’re like me, once you start reading you find it hard to stop – and you end up going way over your goal.
Do Reviews!
Reviewing everything you read can be a nice touch. You can include your review in any potential reading list you have. So, if you choose to keep a record of the books you’ve finished, you can also just include your thoughts there. Alternatively, you can use online platforms like Goodreads for your reviews. I find jotting a few notes down on how much I liked something can really help me remember it well, and aid me in my search for the next read.
Conclusion
There you have it – reading is definitely one of the cheapest and easiest hobbies to start. If you have any tips or book recommendations, let us know what they are in the comments. For more content like this, and a free budgeting template and financial goals worksheet, be sure to sign up to the Bitter to Richer newsletter.
