by Claire
There’s a great local publication called “Natural Awakenings SA” that provides great healthy living tips. I want to share some of those tips today.
How to Keep Your Hard Earned Money Working Locally:
1. Ditch the Cards: All electronic transactions siphon money out of the local community to some extent, so use cash or second best, write a check. Studies show that people spend 12-18 percent more when they use cards instead of cash.
2. Move your Debt: Megabanks tend to make far moremoney off your debt than your savings. Choose a local credit union or bank and let the fees support your community.
3. Spend Deliberately: Forget internet deals; shop local and independent. Choose to support local businesses. Start buying at resale shops, Craigs list or try bartering.
4. Shorten Loan Lengths: Avoid the 30-year-mortgage and seven-yaer car loans and start paying down principal early.
5. Earn Feel-Good Interest: Consider investing in family, such as a college loan for a nephew or niece, to keep it local (er…not too sure about this one! That whole loaning family money thing….)
6. Invest in Home: Investing in your home strengthens the community and builds wealth. Beyond mortgages, invest in an alternative energy system such as solar or geo-thermal.
7. Remember Your Community: Buy shares of a local co-op–utility, food or store–or start a community investment group. Look fo community revolving loan funds that allow participation by individual investors.
I am proud to say we have gone to the Farmers’ Market for the last 3 weeks. It has been a great learning experience for all of us. The kids have enjoyed it much more than I anticipated. It helps that bringing your dog is encouraged so the kids get to see a lot of canine companions and bring our own dogs too. We are enjoying the fresh farm food tremendously!! And we are staying within the $150 per week budget. We tried to stick with $125 and found that we needed that extra $25 especially with the kids home much more now than during the regular school year.
Good stuff to think about and to bring to your life!
Born and raised in Texas. I’ve at least driven through every state in the US courtesy of a roadtrip loving Dad.
I’m single with two children and a good parenting relationship with their father.
I am a “life is just half full of funny” kinda gal. Humor is my saving grace and I am thankful for it every single day. I have a strong Catholic faith and am thankful for that foundation.
I read a lot for a living but still enjoy a good book. I love biographies but in recent years have found the need for fun fictional books–sadly, for a long time I just didn’t enjoy fiction!
I love live theatre of any kind–from local productions to Broadway.
I love to scrapbook and pride myself in my kids’ albums.
I love being a mom but also love my career. I’m blessed to have found a balance allowing me to be at everything my kids need and want me to be at–while also having a career.
Favorite Quotes: Well behaved women rarely make history.
Behold the turtle. He makes progress only when he sticks his neck out. -James Bryant Conant
Those are all really good tips! I am going to have to remember these the next time I want to help the community…
Ugh, 7 year car loan??
Something changed over the last 30 years that made stupid financial decisions seem acceptable. 2nd mortgages used to be a death knell for a family and no one would ever finance a car longer than 4 years because it was nuts. If you can’t afford it on 4 years, it’s the wrong car for you.
This post is great! I already try to implement a lot of the suggestions that you made, but hadn’t thought of the cost of electronic transactions (moving money outside of my community) this is timely as I am about to switch to a cash envelope system.
I refinanced into a 30 year mortgage this winter. I could have gone into a 20 year, but I decided to stick with a 30 year. My plan is to pay enough to pay off the loan in 20 years or less, but I can fallback on the lower required payment if I experience a financial hardship. And now I’m having fun pushing myself to pay off the mortgage early 🙂
@emmi – Oh, we dont’ just have 7 year car loans as option, but now you can refinance your car loan!!! :O