I love to read and summer seems to be a peak time for people to allocate some of their own time to relaxing on the beach and reading a good book. The problem? – Buying your own books all the time can get pricey!

I think this is a summer where people are trying to save more money than they spend with gas at an all time high. I have a few suggestions on how to save on your summer reading list!

LIBRARY – I loved buying my own books, but recently the library just seems more economically efficient. I go through about 2 books a week, if I bought all of these books it could at up to over $20 per week. I decided there were other things I would rather spend my money on. Also, I realize that once I have read a book, unless I absolutely love it, I never read it again and it just sits around. Sure you can re-sell some of your books, but you lose a significant amount of money…especially on paperbacks. The library is also a great place to get current magazines and newspapers. This will fit into your budget too! Both of these monthly or yearly subscriptions can be expensive so you can save by picking them up at the library instead. If you are not satisfied with the amount of books in your town, often times you can get a guest pass if you know someone with a better library than your own.

BORROW – Some people don’t like library books. They have been handled by so many people and often times may be falling apart. Another great way to get “free” books is to borrow them from a friend. Ask around! Often times many of your friends may have purchased books that you haven’t and won’t mind borrowing them to you. They may also have suggestions on great books that you haven’t heard of.

USED BOOK STORE – If you still feel like you need to purchase your own books, go to a used book store! I visited one close to my house this week and was (1) surprised by the amount of books they had and (2) astonished by the price of the books! Many times, the more books you buy at a used book store, the less they cost you. They also won’t buy book from people that are in poor condition, have cigarette burns, or have that old basement smell. This means that many of the books you get are in great condition and have only been opened once or twice (some have never even been read!). My mum bought 2 hardcover James Patterson books for only $3 and they look brand new!

BARGAIN BOOKS – Okay, after you’ve read through all the other options, if you still feel as though you need to own a brand new book, check out bargain books that are offered at most bookstores (including Barnes and Noble and Borders). These stores offer brand new books for a fairly cheap price (usually around $5 or less depending on the book…obviously some might be more expensive). Although this is not as cheap as a used bookstore, you have the peace of mind knowing your books have never been used. Some people love brand new books (me being one of these people) but I have had to adjust my habits to match my budget.

Seriously, these are great ways to save money but still keep space in your budget and life for reading books this summer! Check out Geezeo here to find out other books that people have suggested or heard about.

Photo: Andrea Church

Our partner, MainStreet.com, interviews Maxim magazine founder Felix Dennis. He’s written a new book, How to Get Rich. Check it out.
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Maxim’s Felix Dennis Reveals How To Get Rich
By Jessica Wakeman (07/02/08)

In a time of recession when the government is mailing out $600 rebate checks to stimulate the economy, shouldn’t a smart businessman sell a book called How to Get Rich?

That businessman is Felix Dennis, the chairman of Dennis Publishing – better known as the man responsible for the lad mag Maxim. Dennis is an outspoken, colorful chap with a background in music who rose up to become one of the wealthiest men in Britain. An Americanized version of his 2006 book How to Get Rich debuted here June 12.

He stopped to talk to MainStreet about making money.

MainStreet: Why is How to Get Rich based on all of your failures?

Felix Dennis: Nobody wants to read some boring, fat, old fart going on about his or her wonderful successes. It’s far more interesting to read about failure. And here’s the second thing, this is more important: It’s far more instructive. Understanding how people who made a lot of money failed again and again is instructive, it means that if you fail, you’re going to do it again.

Is now really the best time to get rich?

This is the best time ever to be in a startup. There’s room for creativity and there’s room for maneuverability. When everybody’s doing well, the big guys will steamroll you to death…Now that the recession is beginning to be accepted as a fact of life — though not necessarily if you look at the Fox [NWS] network — there has never been a better time. Launching entrepreneurial activities in a recession is a slam dunk.

But isn’t what you’re saying about startups counter to conventional wisdom?

All of the money I ever made was acting counter to conventional wisdom. (laughs) I think conventional wisdom is wisdom of a kind. It’s better than nothing. But it isn’t anything that helps people get a lot of money. If everybody’s doing it, then why would you think that you’re going to make a lot of money?

What do you think of the way Americans run their companies?

[Americans] actually believe in hierarchies! People are actually immensely respectful to the person they’re reporting to. (laughs) I can tell you in Europe we cease to be respectful to the person we’re reporting to in about third grade. I’m like Rodney Dangerfield; I can’t get any respect at all for the people that work for me in England, India, in Australia. When I come here… in the office, people say, “Good morning, Mr. Dennis.” I’m thinking, ‘What? What?’ (laughs)

One of the themes in your book is being willing to sacrifice if you want to be financially wealthy. What did you personally sacrifice for your career?

I forgot to have many sensible relationships. Forgot to get married, forgot to have children…I would have preferred it the other way. But, I was spending all day every day doing what I was doing and I had no time to figure it out…This is a pretty lonely road, you know. And, I do say throughout the book, ‘Are you sure you want to do this? Are you sure you want to do this?’ If their answer is ‘Yeah, I want to do this,’ I say, ‘Yeah, here’s what we do’ and then start off saying, ‘Are you sure you really want to do this?’ (laughs)

Another point you make in the book is about intelligence and how surrounding yourself with smart people is integral to success.

It’s been my experience that the vast majority of entrepreneurs are really not that bright (laughs) and I include myself in there. I truly do employ, and have employed, hundreds of people who are smarter than me. You can get people that are much, much smarter than you to actually make you a hell of a lot of money by working for you, providing you treat them properly. That doesn’t mean spoiling them and turning them into prima donnas or over-compensating them. It just means you’ve got to understand how to choose these people and motivate them.

You sound to me like you have a strong sense of self.

Yeah, maybe. But, if I had to do it over, would I do it the same way? No.

Related
* The Secrets of the Millionaire Matchmaker – For Free!
* Let These Movers and Shakers Motivate You
* What Mariah Can Teach You About Career Longevity

The Debit Card Generation
By Robyn Collins

When is the last time you paid cash for a latte? If it was today, you are in the minority. Debit card purchases are at an all-time high as it becomes easier and easier to simply swipe to pay. The convenience of a debit card is unquestioned. However, there are some backlash effects to this trend.

Depersonalization of money: as we begin to touch our cash less and less, we forget that it is actual money. We do not see it dwindling in the same way as those who carried a money clip as they peeled off bills to pay their way. We don’t feel the lightening of coins in our pocket as we purchase a soda. It is a case of not believing because we do not see. This can be detrimental to your financial life.

When is the last time you opted not to purchase something, instead of seeing if you could get the card to run,—since you don’t know your actual balance anyway. Probably, you take a chance, see if the card will go through. Unfortunately, debit card companies allow this because they can charge hefty fees. One friend of mine ended up with $350 dollars in overdraft charges because of this. One $1.65 coffee was $36.65, and he and his wife collectively accrued 10 charges this way. Now, the good part is that they avoided being embarrassed, but seems like kind of a high price to pay to retain your dignity.

How to make your money personal again:

There are online services that you can utilize to track your expenditures, your income, progress in your various accounts, etc. There are even a few that go farther and have created communities that allow users to share victories and confessions with one another in regard to their finances.

One such company is Geezeo, (www.geezeo.com). Their analysts share trends and common pitfalls. The social element offers the accountability that most of us need to help us make better choices. The flavor of geezeo is friendly and approachable, with a “Heya, Robyn” when you log in and copy that makes you chuckle while you count your pennies. Options to set particular savings goals and debt reduction plans make this user-friendly site a pleasant part of your money management plan.

There are other products, like Quicken and Microsoft Money that also allow users to track their finances on their computer. They offer similar services, and are excellent ways to follow your spending, and adjust your patterns of financial behavior.

If you are not watching your dollars leave your wallet, and you’re not tracking your status on your computer either, chances are that you are going to have a problem sooner or later. This generation, that is so used to throwing down the plastic for immediate gratification has the potential to inflict pain on itself and society with its potential for bad debt. On the other hand, technology and efficiency can be the greatest gifts when we are attempting to get a handle on managing our money. Using the tools effectively to know yourself, your money and your spending habits is crucial to your eventual financial freedom.

What about international debit card use?

You have to be on the alert when traveling from the US to other countries. Like banks in the US, International ATM machines will charge a fee when you use your debit card at an ATM that is not owned by your bank. The amount is determined by the ATM owner. Most fees are under $5, a notice on the ATM machine will tell you what the fee is. More than $2 is too much, and you should look for another ATM machine.

The real fee problem with a debit card comes from your own bank, because the card issuer may charge you up to 3% for a foreign transaction, including an ATM withdrawal. Call your bank before you leave your home country. If you don’t like the fee, you might call around and ask what other banks are charging for foreign transactions made with a debit card.

The bottom line, you are in charge of your financial destiny. There are tools out there that can help you along the way, but at the end of the day, you have to be educated and diligent when it comes to managing your money. The more up close and personal you can get with your expenditures and incomes, the greater chance you have for making your money work for you instead of against you. Be personal with your money, watch what it’s doing online, and be aware of secret and surprise charges and expenses. You are the only one looking out for you, be diligent with the hard earned money in your care.

Robyn Collins is the author of Prepare to Be a Teen Millionaire, a contributing writer to Millionaire Blueprints magazine and the senior editor of Millionaire Blueprints Teen magazine, a columnist on several sites, including The Leader World Online magazine. To contact Robyn regarding writing and speaking requests, email robyn[@]mbteen.com. You can also reach Robyn at the Geezeo group, Millionaire Blueprints Teen.

One classic personal finance book is “The Millionaire Next Door” by Thomas J. Stanley and William D. Danko.

For anyone unfamiliar, the book covers habits and strategies of “normal” people and how these behaviors contribute to a million-dollar (or more) net worth. Everyone profiled in the book share what could be called “middle class” incomes and values. A common trait is being somewhat low-key on the exterior (no flashy millionaires here!).

Chapter Three is titled “Time, Energy, and Money”. In it the authors write:

“PAWs [Prodigious Accumulators of Wealth] allocate nearly twice the hours per month to planning their financial investments as UAW [Under Accumulators of Wealth] do.”

The book was published in 1997. I wonder what the 1997 PAWs would make of Geezeo?

One of Geezeo’s strengths is the ability to collect all your financial accounts in one place. If you monitor your accounts on a regular basis it is much easier to do so at one location (Geezeo) instead of logging into many different banking websites.

But few were probably monitoring their accounts and investments online when the book was written.

Interestingly, this chapter went on to say that UAWs [Under Accumulators of Wealth] spend more time worrying about being able to retire comfortably or ever accumulating significant wealth (pg. 71). The authors conclude they have every right to be concerned! To illustrate the point, the chapter outlines the choices between two fictional doctors — Dr. North and Dr. South. Despite high-paying professions one ends up with better financial resources.

So what does this have to do with you? Do you exhibit behaviors of a PAW?

I would guess that the Geezeo community has a greater percentage of millionaires and millionaires-in-the-making that most websites. For starters, our users monitor their accounts on a regular — even daily — basis. They save time checking multiple online accounts. But, they are likely to spend more time thinking about, and acting upon, longterm financial strategies. Couple that with the ability to discuss your strategies with peers, and, I think it’s safe to assume that being involved at Geezeo is good for your net worth.

So ask yourself today: what am I doing on a regular basis to secure my financial future? Am I using my time, energy, and resources to the best of my knowledge and ability? What goal am I actively pursuing (paying off debt, saving a cash cushion, and saving for a home are three popular goals). If you’re just starting, click here to check out some of the Geezeo community goals.

For this and other personal finance books, check out the Geezeo group “Bookworms Unite”.

Here’s to your time + your energy = your money!

Yes: reprogramming your mind is possible. Why not upgrade some thoughts about managing finances? Here’s how to start.

1. Choose your target. First, figure out one specific aspect of your financial life that you’d like to change. For example, maybe you don’t pay your bills on time. You frequently think, “I never seem to pay my bills on time”.

2. Now, choose the opposite. Instead of thinking “I never seem to pay my bills on time”, change that statement to it’s opposite: “I always pay my bills on time”. It should feel weird to say. That’s good. This signals you currently hold other beliefs. It’s those beliefs we’re going to erase from your brain.

Important key: Write this statement on paper. Write it in the present tense as if it’s already true. Here’s a bad example: “I will pay my bills on time”. Why is that bad? The word “will” makes your money affirmation in the future. You don’t want future results. You want NOW results. Your brain processes NOW a lot better. (For proof, check out the science book: Your Money and Your Brain by Jason Zweig)

3. Rinse and repeat. Repeating is the key. That will “rinse out” your existing belief. And if your current thoughts aren’t yielding much, why not try? Repeat your affirmation on a daily basis. (For directions, check out the lo-tech or hi-tech hypnosis approaches discussed Friday). Spend a few minutes each day doing this.

Do it for 30 days. By the end of the month you’ll see some money-making changes! Your newly-installed belief will begin to shape your thoughts. And those thoughts will influence your actions. New actions = new results!

Remember, while self-hypnosis is simple it takes repeated, regular effort. Here’s the good news. Doing this will take just minutes a day and costs you nothing. Does that sound familiar? It should because it’s similar to using Geezeo: it takes just minutes a day, costs you nothing, and can super-charge your financial life. Register now!

How do you become a millionaire by thirty (or hey, even earlier?) Could you do it if you’ve passed the 3-0 mark?

The book I read this weekend explains an unconventional approach. The book is “Millionaire By Thirty: The Quickest Path to Early Financial Independence”, written by best selling author Douglas R. Andrew and his twenty-something sons, Emron and Aaron. Douglas Andrew is known for his book series “Missed Fortune”.

The beginning of the book lays the groundwork for sound financial planning. It’s a great encapsulation of what an individual can do to build a strong financial future. One big concept is to “use credit to conserve, not consume”. Another is and the concept of arbitrage in real-life application.

It is the middle and last half of the book that really stands out as unconventional. The book illustrates how you can use real estate mortgage(s) and life insurance to grow your net worth. Many view a mortgage and the cost of life insurance as shackles to growing wealth. The Andrews, however, present these as the key to a building a strong fiscal foundation. There method is likely a concept different than most you’ve heard before (unless you’re already familiar with the “Missed Fortune” series). The Andrews compare the benefits of this tandem approach to other long-term savings vehicles. They end up with a pretty compelling argument.

My only complaint is that the book’s additional online material isn’t yet online.

The book is written in a clear and concise manner. Still, for anyone who is new to some of these concepts it is well-worth owning this book so you can read and reference it multiple times. The book challenged the way I view some expenses (like my student loans). In the end gave me a new way to think about debt. For that alone the book is highly recommended!

GET A COPY! I’ve got 2 copies to give away. I’ll give it to the first two Geezeo users who send me an internal Geez-mail with a link to their group or goal. Make sure to include your mailing address. Good luck!

Discuss these and other books in the Geezeo Group Bookworms Unite.

Think back to something expensive you bought two years ago. Okay, ready?

Now think about the term “temporary ownership”. Does it sound good, or bad?

Was yesterday’s expensive purchase a great economic choice?

That’s the concept behind the book “Future Shop: How the New Auction Culture will Revolutionize the Way We Buy, Sell, and Get Things We Really Want”. In it the author gives examples of his own previous purchases. In it he writes that every year these “expensive” purchases drop in value. But, thanks to alternative markets (like eBay), now we can potentially regain some of our expenses if we sell at the right time.

This means we can “buy up” because we know we can sell it again down the line. Or, we can purchase slightly used items of a much higher value than we could normally afford. Cool! This book really gets you thinking about what you own, why you own it, and how much you can “get for it”.

Personal example: Two years ago I bought a fancy digital camera. It was a Serious Camera — had a bunch of crazy settings and attachments. Now, I’ve never been a Serious Photographer. (Once I had gig at the Emmys, but, only because someone else was sick. Sounds better than it really was!)

Here’s the thing: I hate carrying the Serious Camera. It makes me feel, well, Seriously Pretentious.

So, I never use the camera. I gave it to my boyfriend. He never uses it either. So could I sell it before it becomes obsolete? I think there’s a good chance I could find a buyer and get some of my money back.

What do you own that could be sold online today, but probably also has a financial “shelf life”? Do you ever buy “up” on eBay, or use eBay to regain some of your losses?

How does America express itself through shopping? Is it normal to be overwhelmed and stressed out by choice? Concerned if your choice is a “good deal”? An example might be $4 prescriptions at Wal-Mart. Smart personal savings choice, or bad social spending choice?

I was curious to know because I’ve been to the extremes. Some aspects of shopping are enjoyable but overall I find the task stressful and occasionally depressing. Even the smallest purchase makes me reflect carefully on my finances and how this relates to the larger world. “Good buys” and “bad buys” aren’t as simple as they might first appear.

The development of cultural attitudes behind shopping are unearthed in Thomas Hine’s book, “I Want That! How We All Became Shoppers, A Cultural History”. The reasons he explores range from power and responsibility, to self-expression, taste, insecurity, and a sense of belonging.

Some fascinating tidbits, from the chapter titled “Insecurity”:

Teens and adolescents spend more on clothing than any other group. This includes males. Boys claim not to have an interest in fashion because doing so isn’t considered “cool”. Yet, they seem to know just as much about clothing as teen girls, perhaps more. (page 100).

Minority women in their early twenties spend more income on clothing than white women. Are they trying to “fit in”? No, Hine concludes, “African-American women aren’t trying to look like white women; they believe they look better.” (page 101) Minorities tend to agree more than white culture that being fashionable is a sincere form of self-respect.

Here’s the group I identified with: “the role-relaxed consumer”. Writes Hine:

“These people don’t appear to have an insecurity about their buying habits. They are aware of what other people are buying and wearing, but declare that they make their consumption choices based on other standards. Some of them even devote a bit of effort to being out of style….In the end, though, this anti-fashion attitude is seen to be, itself, a kind of fashion, one that can generate sales. (page 102)

Do we automatically absorb these attitudes? Where do they come from? What is the cultural history on “indulgence”? Another example, this time about trends toward “simplicity” (page 155):

The most revealing “Real Simple” article was about the pleasures of taking a nice, hot bath. The necessities for achieving “pure pleasure” in your own home included a chrome towel-warmer, a plush mat, a terry tub-pillow, a storage cabinet, a lamp that casts a gentle glow, a plywood tray that holds sea sponges, a sisal exfoliating cloth, and a dark bristled Acca Kappa brush. By the third page of the article, we’ve already spent more that $1,000, and we haven’t even reached the teas, the oils, the salts, or the milks, nor have we purchases a single towel”.

Nor, I might add, have we even drawn the water.

If you are evaluating your spending habits this is a fascinating read. Now ask yourself, should I buy this book or borrow it from the library?

Interested in shopping (new or used), or in books? Join us in the related Geezeo discussion groups.

60 Seconds & You’re Hired! by Robin Ryan is a lifesaving book! This book offers you help to get through those really tough interviews and land that job that you have always been searching for. My mum told me she was sending me this book in the mail and the whole time I just kept thinking, “I don’t get it mum, you don’t think I can get hired without reading a book!?” Even when I received the book in the mail, I was so stubborn that I didn’t even look at it…instead I just placed it on my bookshelf and went on with my life. It wasn’t until I received an e-mail that I was put through to interviews that I started to get nervous and though, “Hey! I can’t really hurt me to check out that book!”

Personally, I think the interviews are the scariest part of getting a job. I get so nervous that I can’t even remember what I’m doing in that little interview room anymore! You really never know what the employer is really looking for in your answers…you can get so caught up in nerves that the answer you want doesn’t really come to you…and you never know if the answer you actually give is good or bad as they employer rights notes on your resume in front of you! This book REALLY helped me out to calm my nerves before my interview. It gives really great advice and it a true lifesaver! It is so easy to read and follow, not like some of the other books that offer advice on getting jobs!

The description on the back of 60 Seconds & You’re Hired! reads:

Whether you’re just starting out, moving onward, and upward, or reentering the job market, 60 Seconds & You’re Hired! explains the most effective strategies for getting the jobs you want at the salary you deserve. By following these tips from America’s top career coach Robin Ryan, you can land the perfect job by excelling at the crucial job interview. Brief, compact and packed with useful tips, 60 Seconds & You’re Hired! provides the essential inside information job-seekers must have.

60 Seconds & You’re Hired! offers the following help:
1. A “5 Point Agenda” to Stick To
2. Your Personal “60 Second Sell”
3. Hiring Trends
4. Interview Etiquette
5. 60 Second Answers to Tough and Tricky Interview Questions
6. Salary Questions that You Should Ask
7. Other Questions You Should Definately Ask the Employer
8. How to Negotiate the Best Deal
9. 15 Different Types of Interviews
10. Pitfalls to Avoid

…and much, much more to help you with your interview process! Believe me, when I tell you this book really helped me I’m telling the truth! And I think it can help many other people too! It calmed my nerves, it gave me great tips and advice, and provided me with information that before I hadn’t even thought about. The interview tough questions section and suggest ways to go about answering the question was the biggest help. Also, although I already knew this…sending a hand-written thank you letter to the employer can really help you move forward instead of being dropped from the interview process…it is a way to show you really care about the job position and that the interviewer took the time to help you out! Don’t forget the little things, an e-mail will be forgotten, but a thank you note they actually have to open and read (and it only takes about 5 minutes out of your day)!

If anyone else has any other great books that they have read, I would love to know! I love to read…I made the mistake of starting a book for leisure during my Midterm period and I just can’t seem to put it down (BIG mistake)! haha, for all you romantic novel lovers out there…(and this is totally off my topic) but the book is called P.S. I Love You by Cecelia Ahearn. The movie just came out but my friend told me to read the book first. So, check out these two great books on COMPLETELY different topics…but both amazing! :o)

Have you ever thought this? Or wondered why every time you go out to eat with you-know-who the bill, plus tip, comes up short? Or maybe you’ve got another awkward social money moment? This is the book for you.

“Isn’t It Their Turn to Pick Up the Check: Dealing with All of the Trickiest Money Problems Between Family and Friends — from Serial Borrowers to Serious Cheapskates” by Jeanne Fleming and Leonard Schwarz takes a humorous yet helpful turn on what to do about all sorts of problems.

For example (page 90):

We can’t afford to return a favor.
When you need to reciprocate a rich friend’s generous hospitality.

Advises Fleming and Schwarz:

“Stop thinking you can’t reciprocate, because you can. Your obligation is not to treat your friend to something of equal value, but to treat him to something thoughtful that he’ll enjoy…[The] point here is not to that you need to match [his] hospitality dollar for dollar. Rather, it’s the disparity in your resources doesn’t free you from your obligation to entertain [him] as thoughtfully as he’s been entertaining you.”

For me, this book brought up some sticky situations I hadn’t even considered. For example, what do you do if your neighbors intentionally annex part of your property to make theirs look more valuable? Or other neighbors keep their homes such a mess it draws down the value of your own?

More comforting was the realization of how common it is to have great financial disparity between relatives. Turns out it’s pretty common to have rich aunts or poor cousins (or vice-versa) all in the same family. What kind of tension can that bring? How do you handle it? And even if no one likes to talk about it, what happens when one adult sibling makes considerably more or less than the other?

What are your money problems? Confess them publicly or privately in Geezeo’s Money Confessions. Or, write D. Expert, our resident expert on all manner of monetary b.o. His advice stinks but he usually finds the right person to answer your question. Finally, don’t overlook the Geezeo groups — there are a lot of patient ears just waiting to hear your perspective on most things social or financial.