Your dollar is your vote

It’s now a fact that the benefits of buying local far outweigh of buying from a big box store. When you shop in a “mom and pop” store in your community you are making a choice to help keep your local shop owners in business. I mean you want to see the same thing in every city you go to or do you want to see something unique to that city? We all want believe in and support those unique small businesses that make up our diverse communities. There’s intelligence in knowing where what you buy comes from, who’s dream it was, who created it, and having a relationship with the people who are brining it to the marketplace. Shopping local keeps our communities thriving, unique, and strong.

Spend Your Money in Your Community

On average, 68 percent of each purchase at local independent businesses was recirculate locally, compared to less than 14 percent of purchases at chain stores. Clearly communicating the importance of the local economic situation and how it’s a key part of effective “buy local” campaigns. The fact that independent locally owned businesses recirculate a far greater percentage of revenue locally compared to absentee-owned businesses. In other words, going local creates more local wealth and jobs. Frequently shop at your local co-ops, food stores that invest in your community. Ask yourself if, who will come to you kids ball game on Saturday afternoon the Amazon guy or the baker down the street?

Ditch the Cards

All electronic transactions tap money out of your community to some extent, so try the human approach and bank in person. Pay in cash, don’t tap and at all cost don’t use you smart watch or phone. The fees can be nine times more in some cases. If you have to use plastic, choose debit. Your local merchants lose some of their profit any time you use a card, but they pay up to seven times more in fees when it’s a credit card. Studies show people spend 12 to 18 percent more when they use cards instead of cash.

Move Your Money

Big banks make big profits from you, the small guy. From credit card balances to car loans to mortgages, mega-banks make far more money off your debt than your savings. Refinance your debt with a credit union or local bank and let your fees support your community. Be wary of obscure cards with points and air miles that cost you big annual fees. It’s simply no longer worth it. Get the straight up cash back card is the best.

Spend Calculatingly

Forget Internet deals; shop local and independent. Support second-hand markets by buying used, and barter and trade services when you can. Look for goods grown and made nearby. Buy your athletic footwear from a local professional shoe fitter. Research your purchases carefully: Haagen-Dazs is owned by notorious Nestle. Want to give money to Coca-Cola? Think again. Are you aware of who Monsanto is? Utilize a guide to ethical consumerism in your area.

Shorten Loan Spans

To get as much interest from you as possible, banks offer to stretch out terms. Avoid the 30-year mortgage or the seven-year car loan. If you’re stuck with one, change it yourself: Decide the length of term that’s best for you and pay down your principal. On line calculators can be used for any loans, not just mortgages. Aggressively pay off your debts.

Invest In Business

Investing in your business strengthens your community and builds your wealth. You business will appreciate faster than your home in our current Province. Pay down your loans then use that equity when it’s time to expand or renovate. Want more investment? Do it with a second property and be a local landlord, or invest in your children’s home. Beyond mortgages, invest in your home’s energy efficiency for a solid rate of return.

Your dollar is your vote