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Purpose — The purpose of this article is to provide tips for electronic collection development for libraries with a meager budget. Design/methodology/approach — The information provided in this article is based on research on electronic collection development practices and the author's experience with electronic resources at small and large university libraries. Findings — There are many useful electronic resources available for free because of the open access movement. Old ideas such as consortia and negotiating still help to keep costs at a manageable level for libraries. Practical implications — Libraries will be able to maintain or reduce the costs they are spending on electronic resources, but still retain sources that fulfill their collection needs. Originality/value — This paper combines new and old ideas and resources for electronic collection development into a short and easy-to-follow source. [ABSTRACT FROM AUTHOR]