Welcome to Financial Friday, a new series, developed and written by Valrie Chambers, Ph.D., professor of accounting at Stetson University. It is designed for students to help bolster their financial wellness, including preventing financial mistakes, tips for safeguarding their assets including their financial identity and tips on how to critically think about financial decisions that need to be made.

Should you rent or buy a textbook? New or used? Online or hard copy? These are common questions that students ask, and the answer for each of your classes may be different.

First, follow the syllabus instructions. If the syllabus does not answer this question, consider whether you will need this book after the end of the semester. If the answer is “yes,” you should probably buy the book because most rentals and online access end shortly after the semester. If you purchase the book and later determine that you don’t need it, you can resell it used.

Should you buy a new or used textbook? This is a personal decision. With a used text you do not know what you are going to get. You may get a book that has pages missing, is otherwise damaged, or may be marked up. Being marked up may be a good thing, though, if it is properly highlighted or has useful notes in the margin.

The preference for an e-book versus traditional hard copy remains a personal decision. There are a variety of factors you should consider when making this decision, from cost to ease of use. For a complete synopsis of the pros and cons of both, click here. Also, consider your budget when making these decisions. Have a great semester!

Check back next Friday for more helpful tips from Financial Friday.

by Valrie Chambers, Ph.D.