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The Other F Word: Frugality!

by Katherine - 3 Comment(s)

One of my goals is to manage my money more effectively. So I typically browse through basic books or blogs on budgeting (spot the alliteration, kids!). In the reams of top 20 lists and collections of tidbits and tips, one piece of advice resounds again and again: use your library. Libraries allow you to borrow books for free, but it’s much more than that. Here are some more ways that your library allows you to stay frugal:

Libraries might encourage you to cancel your magazine or newspaper subscriptions, because many of these can be read online, with your library card. You might decide to borrow a movie rather than renting one, or perhaps you’ll attend a free screening in the library’s theatre. You might learn a new skill by attending a free program – perhaps one about budgeting – or renting an instructional DVD. You could use library books or databases to learn about fixing a car, bike or appliance, and spare yourself the cost of buying a new one. Explore our collections about cooking and learn to prepare healthy, frugal meals. Home cooking is a huge opportunity to exercise frugality! Attend some of the library’s special programs and speak with a lawyer, doctor, or career coach, for free! Check out the program guide for free concerts, and free access to our Writer in Residence.

Not all of our entertainment and enjoyment need be expensive. In fact, the library is a great place in which to instill a sense of frugality in your children. And children who have a sense of how money can be saved in simple ways will be well on their way to managing money when they’re adults.

Mortgage Freedom

by Katherine - 1 Comment(s)

Do you know when you’ll be free of mortgage payments? For me, it’ll be in about 13.9 years - but, who’s counting?

I’m working hard and saving money, because I know that the more I save while I’m young, the more years I’ll be able to collect compound interest. And, if I pay more than the minimum mortgage payment – even just a bit more – I can substantially reduce the number of years I’ll have to pay. Just a few adjustments can make a huge difference to your financial future.

If you’d like to ensure that your mortgage is working for you, instead of vice versa, then check out Mortgage Freedom: Retire House Rich and Cash Rich, by Sandy Aitken. A lot of popular titles are written for American audiences, but this new book is written especially for Canadians. Learn how to use the equity in your home to invest in products that earn you more money.

Whether it’s “Freedom 55”, “Freedom 65” or even “Freedom 35” (hey, it’s free to dream, right?), the Calgary Public Library has resources to help you accomplish your financial goals. Check out your local branch, today!