Posted by sue_pa on 12/30/08 12:51pm
Msg #273106

spending habits

I read an article the other day that said if you shop at locally owned businesses 45% of your money is put back into the local economy. If you shop at a chain type establishment, 14% comes back. Shopping via the internet provides 0% local return.

I have always shopped local when possible. I would never consider buying any type meat product in a grocery store. We have A LOT of local butcher shops in my area where I can see the poor cows in the fields and several months later they're Sunday supper. They eat the corn I drive through every summer. I buy all locally grown produce in the summertime. Even in the winter, I purchase from a small regional store ... I realize they purchase bananas from somehwhere else but there is a local family earning a portion of the profit on them, rather than a huge corporation.

I seldom eat in a chain restaurant (unless I have a coupon for Olive Garden or Red Lobster and then I just can't help myself - nor when Dawn makes me go to Cracker Barrel for delicious breakfast). There are as many family owned establishments as there are chains.

I realize everyone cannot do this every time. I have never looked but I know there is probably no place locally that can beat my paper prices w/Quill or FE nor the discounted toner I buy on line. It would make no sense for me to pay more on such big expenditures. I have my notary stamps, ack, venue and jurat stamps made by a local small business (well not my ack - that was made by a notary friend in NJ). I have all my advertising materials printed locally. I'm sure I could purchase things via the internet but the cost savings aren't very much - I've checked.

Use a local insurance agent rather than an internet based company. Again, if you use an independent agent who has the ability to shop around, the difference isn't that much.

We are all (or should be) small business owners. Support your local business owners when it makes sense or when the monetary difference isn't that much.

Reply by John_NorCal on 12/30/08 1:29pm
Msg #273109

Definitely a message that should be heeded. I have a very close friend who is an insurance agent. We both agreed years ago that changing a policy for the sake of saving $100 per year just was not worth it. I changed my auto policy only when the difference amounted to $100 per month. As you stated, local merchants deserve your support, after all, they're usually your neighbors too.

Reply by Becca_FL on 12/30/08 3:56pm
Msg #273120

Excellent reminder to all. I would add just one thing...

Just say NO to Walmart. If you haven't seen the the documentary "The High Cost of Low Price" you should.

We still shop at the last local hardware store in town and purchase our produce from a family run produce market. I'm with you on the restaurant thing too Sue...Olive Garden and Ruby Tuesdays ONLY if we have a tempting coupon otherwise, it's one of our favorite local places. This year for Christmas, I stimulated my local economy by sending my family Indian River citrus from Hale Groves of Vero Beach, FL and I did my shopping online!

Reply by Dawn/PA on 12/30/08 7:47pm
Msg #273151

Becca...I miss Indian River citrus....

I lived in Vero Beach for a year when I was a kid. My mom use to get a case of fruit from there thru her Church (youth fund raiser), but hasnt lately. I think I need to google Hale Groves and stimulate your economy some more!!

Reply by Becca_FL on 12/30/08 8:53pm
Msg #273165

Dawn, they started harvesting Honey Bells this week...

Better hurry if you want some, they go so quickly. I've got a big bag of Valencias in the hall thanks to my SOs daughter. We've been squeezing fresh juice all week. Bring on the citrus stimulus!

Reply by jba/fl on 12/30/08 9:15pm
Msg #273168

The whole family has been squeezing like crazy the past

3-4 weeks. Our electric juicer gave up the ghost so have been using our muscles pulling the lever. We are so fortunate to have grapefruit, tangerines, several varieties of oranges and lemons in our neighborhood and surrounding area. Even kumquats and calemondons. Doing about 3 gallons each time...it is the best time of the year for sure!

Even juice from the tree producing below the graft was not wasted (extremely sour) and went to cooking fish and seasoning meats. Some for cake icing...

Well - my own little rhapsody of sorts!

Reply by Becca_FL on 12/30/08 10:29pm
Msg #273172

Anyone in your neighborhood have green papayas?

January is peek season for green papayas and I love me some Thai green papaya salad. I'm happy to share my recipe with you and anyone interested. Now I'm off to forage for green papayas in my black hoodie. Shhhhhhhhhh.

Next week it's time to clear out the neighbors friend's grapefruit grove...No black hoodie required.

Reply by RickinVA on 12/31/08 7:26am
Msg #273182

Re: Excellent reminder to all. I would add just one thing...

FWIW, I also *try* to shop locally, but I also try not to be stupid about it. I went to a
locally owned and operated electronics store to get some lithium batteries. Earlier,I had
been in Walmart, and noticed that they were marked at 16.97, or someting like that. The
locally owned store would gladly sell them to me for 23.95. That's seven bucks on a seventeen
buck purchase. Like I said, I ain't stupid! That's enough for a pint of cheap scotch!

Rick

Reply by Julie/MI on 12/30/08 5:52pm
Msg #273137

I agree 100%.

What really gets me is when Michigan Title companies use outstate signing companies.......

This state has been in a hole for 8 years. I live in farm country and get my eggs just down the road from a real hen house..... Milk from a local dairy. Produce from the farmer 1/2 mile west.

But my Delmonte pineapple, Kellogg's cereal, laundry detergent comes from Walmart. Used to be Kroger, but they don't carry many national brands and I hate Kroger brands. No other competition here.

Meat comes local too. Closed a farmer who raises the cows for slaughter....

Pioneer sugar is a Michigan thing too.

Reply by BrendaTx on 12/30/08 7:01pm
Msg #273144

Re: spending habits - this also applies to

Lenders and Title Companies. Being old school from the days before national lenders advertised and the internet financing kiosks started the money from lending I remember the days when business / money in the transaction was kept more local (except for approximately 1/2 of the title policy cost the borrower paid).

It's always bothered me how national lenders sucked solid lending out of our local economy.

Yes...a large percentage of lending work I did/do as a signer was out of the area but that's why local title companies aren't always glad to find out about your business as an NSA. Mobile notaries are what helped leech off their business during the refi boom.

The borrower goes to a big guy lender like Chase or Ditech and they call a national title company who may call a national SS or a SS across the USA from the borrower. . . who calls the local notary and the only closing dollars that go to your local economy are yours. Let's say closing costs (other than interest) run $2000. You get $200, that's 10%. You get $100 that 5%...but where do those dollars go...even less to the local economy.

Shopping local is smart.

Funny thing. Those old farmer-based money and/or local lending banks in my area aren't failing. They made good loans. Only in the case of a sale of a bank did I see a bank "go under" around here. I know of one which has arisen from the ashes of selling to a chain and now it failed. The old bank owners are scooping up their old clients and starting over...with hard money to loan.

Reply by Julie/MI on 12/30/08 8:17pm
Msg #273157

Re: spending habits - this also applies to

I agree with you Brenda.

However, I do have to say that the local title companies wanted to close their doors at 5 pm.
They stuck to purchases, not refi's. They missed the boat.

I bank at a local to my county only bank, the only one to survive the Great Depression. They don't do a ton of mortgage loans and they all close at a title company, alas, I did try to get to close their loans.

Our dear governor should do a campaign to stay local, but this is just another bucket she'll drop.

Reply by Maureen_nh on 12/30/08 10:41pm
Msg #273173

Re: spending habits - this also applies to

I have belonged to what was a local bank since I was in grade school and bought savings stamps ( you've got to be old to remember those) They sold out numerous times and I do still keep open accounts but have also had switched most of my business to a credit union that I have had a long history with also.
Credit unions are good.