The Mathematics of Book Buying

Can you resist a great bargain?  Especially when buying something you particularly love?  Every day Amazon emails me the Kindle Daily Deals, of which they have five ebooks on sale, usually for $1.99.  Sometimes it’s $2.99, and sometimes it’s even .99 cents, but usually it’s $1.99.  And I’ve gotten some amazing books for $2 – fantastic bargains!  At Audible.com, also owned by Amazon, they often have audiobooks on sale for $4.95.  Plus, I love going to my Friends of the Library Bookstore, where it’s not uncommon to find great hardback books for just $3.

mathematics-of-book-buying

If I read one book for every ten I buy though, the real price of that Kindle ebook is $20, or $50 for the audiobook, and $30 for the used hardback.  That isn’t a bargain, is it?  If I think of myself building a library, then getting as many books as cheap as possible is a book shopping thrill.  But if I think of myself as buying books to read, then buying books I don’t read is wasting money.

Since I’ve recently retired, how much I spend each month is very important.  Every dollar I spend now is one less dollar I’ll have in the future.  My real goal should be to spend little, and read more.  Now I have time to read all those unread books in my library, but not the money to keep building the library.

Another way to rationalize the numbers is to think of myself as enjoying book buying.  That shopping for books is the pleasure I’m actually budgeting, and ignore whether or not I read the books.  By that measure if I spend a $100 a month and get 25 books, rather than 3-7 at new prices, then yes, I’ve been having a great time bargain hunting for books.

To be honest, owning books is not my goal, so I have to face the fact that I am wasting money.  That’s sad.  Maybe what I shouldn’t completely give up something I love, but just lower the budget.  I wonder how many great books I can get for $25 a month?  Save money, start a challenge!

JWH – 1/16/14