11/20 Consumerism Commentary: A Personal Finance Blog Since 2003

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Consumerism Commentary: A Personal Finance Blog Since 2003

Living It Up… At the Library?
November 19, 2009 at 2:00 pm

Over the next couple of weeks, six finalists will be auditioning for the opening of “staff writer” at Consumerism Commentary. Each will be providing two guest articles to share with readers. After the six writers have shared their guest articles, readers will have an opportunity to provide feedback before we select the staff writer.

This article is presented by FruGal, a consultant for a prominent online educational program.

From the time I was a little girl, I can remember making regular trips to my local library. The sights, smells, and sounds are still with me as if it were yesterday. It’s all still fresh in my mind – everything from climbing up the dark, cobweb filled stairwell in the old building in town, to wandering aimlessly throughout the shelves, trying to find a R.L. Stine horror novel that would keep me up late at night, reading in bed with a flashlight.

Fast-forward twenty something years, and you’ll still find me at my local library. However, I’m immersed in an experience that has been completely transformed from what it was decades ago. Long gone are your old-fashioned, wooden card catalogues to help guide you through the endless shelves of books, and other more traditional fixtures of the public library. Today’s modern library is truly an infinite supply of resources, knowledge, entertainment, and more. And best of all, it’s all completely free!

I could talk for hours upon hours about the different services and materials that are available to you at your local library, which chances are, is probably only miles from your home. However, for the interest of this post, I’ll be highlighting my favorite things you can find at your library today.

I’ll get started with the “what” of the library. Books, DVD’s, and CD’s are definitely at the top of my list. Next time you think about heading to your nearby bookstore, or paying the exorbitant cost of going to the movies (plus popcorn, a drink, etc.), consider heading out to the library. The library is home to an endless wealth of new (and old) releases that are available to community members such as you. I visit my local library about once a week, usually on the weekends, and pick up a wide variety of materials that are of interest to me. Take DVD’s for example. At the library, you’ll have everything from blockbuster comedies that just came out of the theater, to documentaries from around the world. You can even find materials such as Audiobooks, which are great for long drives, or perhaps to share with a friend or family member who, for whatever reason, may not be able to read.

Now, let’s explore the “how”. Your local library has an online catalogue system, called an Online Public Access Catalogue (or OPAC) which has replaced your traditional card catalogue. Within the OPAC, you can search through your library’s inventory of multi-media resources. But to take it a step further, you have the ability to reserve items through the system. This is as simple as securing your library card number, which is located on the back of your card, and establishing a pin if you don’t have one already. If you need help, a library staff member will surely lend a helping hand. Once you’re logged in to the online system, you can search for, and place a hold on the latest and greatest books, DVD, and CD titles, plus lots more. At my library, I can place a hold on up to 15 items at a time, and I’m simply sent an email when my request has been filled. The library has a system where materials are transferred from one branch to another for your convenience. With less popular or older items, you’ll only have to wait a few days, whereas with new releases, it may be a few weeks. Either way, if you keep your “hold” list full, you’ll constantly have a wide variety of materials ready to be picked up and enjoyed. Or, if you choose, you can simply wander the shelves and discover whatever may catch your interest.

Last but not least, let’s talk about the “why”. With today’s economy, every penny really does matter. If you add up the total of just one book, one CD, and one trip to the movies, it’s probably around $50.00 or more. To me, it’s much more practical to take advantage of a free (and fun) resource that so many people have tapped into. Plus, it truly is an enjoyable experience. The other day while I was leaving the library, I smiled as I glanced through the glass that peeked into the children’s area, and a father was sitting in a miniature chair, reading to his son. While the library is constantly changing and evolving, some things never change – which is a good thing.

With this all being said, as a lover of books, I realize that there are some must-haves for your collection. I’m not saying completed deprive yourself of these items, but rather, make an effort to be more conscious in your spending habits. Also, I would be remiss if I didn’t mention how you can help the library. After all, it’s done so much for you. Consider becoming a “friend” of your local library, which could include anything from helping to raise funds through book sales, or shelving books. More information about this can be found on your library’s website, or by inquiring in person.

Phew, all this and I’ve barely touched the surface! The library is home to special events, classes, story time for children, author talks, arts and crafts… need I go on? I’ll guess I’ll have to save the rest for another time. For now, if you aren’t already, I encourage you to visit your library and explore the many opportunities that are available to you, as well as your family. I guarantee you won’t be disappointed AND you’ll have some extra money in the bank.

I’d love to hear from Consumerism Commentary readers about your experiences with the local library. How often do you visit? What are your favorite materials?

This is a guest article by FruGal, one of six finalists interested in being Consumerism Commentary’s staff writer.

Photo credit: (Erik)

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Living It Up… At the Library?

Put Your Finances on Cruise Control, But Stay Alert
November 19, 2009 at 8:00 am

My Honda Civic has an option for cruise control. Unfortunately, most of my driving currently takes place on the New Jersey Turnpike and local highways during rush hour and construction, so I rarely have an opportunity to activate this feature. In the slim occasion I find myself driving on a deserted country road, I activate the cruise control and sit back, letting the car’s computer maintain my speed. I like to imagine cruise control is an auto-pilot device, so I can relax, close my eyes, and wake upon arrival.

If you’ve ever driven with cruise control, you’ll know it is not the same as auto-pilot. You have to be vigilant and aware of your surroundings, even if you’re not keeping your foot on the accelerator pedal. I have the same concerns with the topic of automating finances.

cruise control Making your finances automatic is a great way to put your savings into overdrive. I take advantage of technology’s ability to automate in a number of ways:

My paycheck is directly deposited into my bank account every pay period.
Several of my bills, as many as possible, are paid automatically and in full every month with the appropriate credit card.
My credit cards are paid in full every month without me writing one check or clicking one button.
A number of savings transfers and investments are programmed to occur at the same time every month, again with no intervention.

I would like to say that these features of automation have effectively put my finances on auto-pilot. It is true that I am now free to use the time I would have otherwise spent paying bills and depositing paychecks for other, possibly more worthwhile tasks. I am hesitant to call this system an “auto-pilot,” however. Like driving, I am still in charge and my brain needs to be engaged. If I stop paying attention, the likelihood of a crash increases.

I primarily use three credit cards, two for personal use and one for business use. Despite the cards’ close proximity in my wallet, their cycles have not converged. The payments are due at different times of the month. My checking accounts are debited automatically, so I need to ensure I have enough money in the appropriate accounts at the appropriate times to avoid an overdraft fee. The automation doesn’t permit me to to “set it and forget it.”

The same is true with my bills. I mentioned I drive on the New Jersey Turnpike every day. That’s an expensive commute. I use the E-ZPass system to make the drive go quicker and receive a discount on tolls, but this kind of automation lowers my sensitivity to increasing tolls. Since I’m not stopping at the booth and handing out cash, I don’t see that money leaving my wallet. I look at my quarterly statements from E-ZPass, but with 65 weekdays of toll charges, plus some on weekends, it’s easy to let the increases stay buried in my mind.

I’ve begun to offset the toll increases by opting non-toll roads occasionally but with more traffic lights on these alternate routes, I would have to wonder whether the extra fuel expense negates the savings in tolls.

Even though my utility bills like electricity, cable and telephone, as well as my credit cards, are paid automatically each month, I am sure to review the statement or transactions. It’s tempting to let cruise control handle everything. I mentioned that it’s important to ensure money is in the accounts prior to the automated withdrawals, but more attention is necessary. Reviewing statements and transactions is necessary to catch mistakes.

Mistakes can be on the company’s part or on the consumer’s; at least once I’ve forgotten to cancel a “free for the first month” service and was rewarded with a charge on my credit card. I would have remained ignorant of the charge if I didn’t review the statements and download my transactions into Quicken. And I have also experienced a number of mistakes, such as the cable company charging me for a service they didn’t provide.

Companies are quick to encourage automation because they know a certain percentage of consumers will let “mistakes” slip. That’s a statistic I don’t want to be.

What part of your finances is tackled automatically, and are you on auto-pilot or cruise control? Have you ever encountered mistakes you would have missed if you weren’t paying attention?

Photo credit: mhalon