What is My Rolling Book Fund?

I spoke about my rolling book fund in my 2024 Reading Goals post, and I’ve had several questions about it. So today I thought I’d explain it a little further and to discuss how it has helped me save money.

Why I’m Doing It

I spend way too much money on books that I ultimately don’t read. I buy way more than I consume and honestly, I’m running out of space. So, I want to focus on buying less and reading what I have. And every year I set the obligatory “spend less money on books goal.” But here’s the thing. Open ended goals don’t work for my brain. If I spend a dollar less, I consider that a success, but I’m still not achieving what I wanted. So, I decided to add some structure to my goal. I work in finance, and I love a good budget. I will usually stick to a strict fund limit, so I incorporated that into my book buying habits. And that’s how my rolling book fund was born.

How it Works

In January, I put $100 into a checking account that I had stopped using for the most part. But now it’s my book fund. So, I told myself that I only have $100 in January to spend on books. I wasn’t allowed to buy books using my main checking account. I could only spend out my book fund. That goes back to my brain needing rigid rules to stick to a goal.

I spent $64.39 on books that month. I intended to spend less that month, but we went on vacation, and I allowed myself to splurge. But that still left me with $35.61 at the end of the month. That amount rolled into February and then I added $20.00 to that. So, I started February with $55.61. And I will keep adding $20 each month to my fund until the end of the year. Then whatever I have left from 2024 will roll into 2025.

How it Helped Me

This rolling book fund has drastically cut down on my overconsumption. I had gotten to the point where I was buying books just to buy books. Then I would have a shelf full of books collecting dust. Now I focus on saving my money for books that I actually want to read. When I buy a book, I’m legitimately excited to read it. That sounds like a small thing, but it’s been a whole mood changer. And since starting this I’ve still had plenty of books to read. I’ve been reading off of my current tbr shelf more and I’ve been utilizing the library and Kindle Unlimited for eBooks.

So that’s a more in depth look at my rolling book fund. I’m not saying it would work for everyone, but it has definitely helped me so far.

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