Libby can save $720 annually

Money magazine said borrowing digital books through library apps can cut regular reading costs by hundreds of dollars a year. In a May 2026 article on free tools available through public libraries, the Australian personal-finance publication said borrowing two to four e-books or audiobooks a month through apps such as Libby and BorrowBox could save users as much as $720 annually. The estimate was framed as an alternative to paying for audiobooks one by one or maintaining a monthly subscription. Money cited library borrowing as one of several ways households can reduce recurring spending by using services already funded through public libraries. ### Where does the $720 figure come from? Money magazine said the savings estimate was based on borrowing two to four digital titles a month instead of paying retail prices or subscription costs for similar access. The publication did not present Libby or BorrowBox as paid services; it described them as library-linked apps that let cardholders borrow titles for free through participating libraries. The article placed library apps alongside other “library of things” offerings, arguing that public libraries now provide access to more than print books. In that framing, digital borrowing was presented as a substitute for some consumer spending on books and audio entertainment. ### What are Libby and BorrowBox? OverDrive, the company behind Libby, says the app lets users borrow e-books, audiobooks, magazines and other material from a local library for free with a valid library card. OverDrive says Libby is available through participating public, academic and workplace libraries, and that users can read or listen through the app or online. BorrowBox is another library-connected digital lending platform used by participating libraries for e-books and audiobooks, and Money cited it alongside Libby as an example of how readers can access titles without buying them individually. The underlying model is the same: access depends on whether a local library offers the service. ### How does someone actually use Libby? OverDrive says Libby requires a library card or user ID from a participating library. (overdrive.com) The company says users can search for their library in the app, sign in with card details, and then borrow titles directly, with options to read or listen offline. OverDrive also says Libby supports audiobooks, magazines and e-books in one app, which helps explain why personal-finance writers are comparing it with paid reading and listening services. The company describes the service as having no subscription fee for the reader beyond library access. ### Is the savings claim universal? The $720 figure is a top-end estimate from Money magazine, not a guaranteed annual saving for every user. (help.overdrive.com) The actual amount depends on how many titles a person would otherwise buy, whether they already pay for a subscription, and whether their local library carries the books or audiobooks they want. Library access also varies by system. OverDrive says availability depends on participating libraries and their digital collections, which means wait times, hold limits and catalog size can differ by location. (overdrive.com) ### Why are finance writers paying attention to library apps now? Money magazine presented library apps as part of a broader household-budget story: consumers are looking for ways to cut recurring media and entertainment costs without giving up access. In that context, borrowing digital titles through a library card becomes a direct substitute for some monthly spending. As of May 2026, the next step for readers is practical rather than promotional. (overdrive.com) OverDrive directs users to search for a participating library, add a library card and browse available titles in Libby, while Money’s calculation gives frequent readers and listeners a benchmark for what that switch could save over a year.