
Now that's the spirit!
“In this Economy” it’s tempting to feel powerless, feeble and overwhelmed. People you know and love are either in financial trouble or perhaps disaster.
As much as we want there’s just not much we can do to turn this country is there? Or is there?
Well, you could go to a tea party convention and threaten to tear down the system (to be replaced by what exactly?)
Or….
You can take a few steps that though small, will gradually ensure your and your comunity’s financial health.
Buy Local
In this study of local bookstores vs national bookstores for every $1,000 (the cost of ~1 latte/day at Starbucks for a year) spent locally, $450 remained in the local economy. The same amount spent on a national chain only keeps about $130 in the local economy. As you work and live (to some extent) in your local economy this means that the chance for your own dollars to come back to you are about 300% higher simply by buying local. And on the flip side it makes locally produced goods cheaper while increasing the odds that increased and more diverse services are offered near-by. Over time this amounts to a huge gain for the individual.
Educate yourself and become a mini-entrepreneur
One of the easiest risk-mitigation strategies for investment is simply to diversify your portfolio of stocks and bonds. Do the same with your job, your skills and your career. Take on a few more skills and contribute them where you can. Remember, only jobs which are easy to document and train people to do can be shipped overseas…good, fresh, relevant, creative and insightful ideas are always needed.
Pay off your debts
If you didn’t have to pay interest on your house it would be about 60% cheaper. The average purchase on a credit card costs 12% more than it’s purchase price. Seriously… if you pay in cash you don’t have to make nearly as much money for the same lifestyle.
Stay healthy physically and mentally
Happy, strong and resilient people make good productive communities. Good productive communities do well economically. And even when they don’t do well economically they remain happy… and that’s what really counts, joy in the face of despair.