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Hi Taylor:
I'm trying to cut back on online shopping and invest more money in
my local economy. I'm having a little trouble kicking the habit and
I'm wondering if you have any tips that might make this easier for
me. - Riley
Hi Riley: It's an admirable thing you're doing, especially
because it can be so hard to give up the convenience some of the big
businesses deliver. The best advice I can offer is to keep reminding
yourself that it's worth it. On top of that, here are a few options
that don't require too much effort. |
1. Dine
locally. You have to eat near your home anyway, so you might
as well make an effort to grab lunch and dinner at the locally
owned and operated restaurants. Chains are great and might have
a few deals that other spots can't offer, but the price difference
isn't so drastic that you can justify only eating at the franchises.
Every meal at a local restaurant pays not just waiters, chefs,
and owners, but there's a good chance it supports local food growers
as well. Speaking of, going to a local farmer's market or co-op
for your groceries is another good way to keep your dollars close
to home.
2. Service locally. If you have cable TV, there's a good chance
you have internet services through the same provider. Getting
that bundled almost always means going through a large telecom
company, but it doesn't have to be that way. The small town internet
provider isn't extinct yet, and you might be able to get really
competitive rates by finding someone local. There are lots of
options when it comes to services; have copies made at a local
supply store, go see the mechanic who works out of his or her
garage, pay someone to fix a broken TV instead of buying a new
one, etc.
3. Bank locally. You might have to sacrifice a few conveniences
if you close your checking account with one of the financial juggernauts,
but putting your paychecks into a local credit union or savings
bank is one of the best ways to shop locally without actually
doing any shopping. Just by having a savings account with the
brick-and-mortar bank down the street, you provide a financial
boost for your community. It might not feel like shopping locally,
but it has the same effect.
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The holidays
are a great time to think about how you can do right by your local
economy. Beyond the gift shopping, these three options let you spend
locally throughout the year. Thanks for the question!
© Taylor Kovar
12-14-20
More "Go Far With Kovar" |
Legal Disclaimer:
Information presented is for educational purposes only and is not
an offer or solicitation for the sale or purchase of any specific
securities, investments, or investment strategies. Investments involve
risk and, unless otherwise stated, are not guaranteed. Be sure to
first consult with a qualified financial adviser and/or tax professional
before implementing any strategy discussed herein. To submit a question
to be answered in this column, please send it via email to Question@GoFarWithKovar.com,
or via USPS to Taylor Kovar, 415 S 1st St, Suite 300, Lufkin, TX 75901.
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