Op/Ed

Letter to the editor: Even more reasons to spend your money locally

Consider investing your stimulus checks. Not in yourself but your community. Studies have shown that a dollar spent locally can become $4-$7 worth of economic activity. So if you spent half of your stimulus — $600 — this could equal $2,400 to $4,200 in economic activity. Which leads to businesses surviving this, people getting paychecks, your church or non- profit helping others in your community, etc.
This is how it plays out. If you took 10% of your check and gave it to a church or nonprofit you believe in with the stipulation that it goes to help someone working through this current crisis — they are in the front lines of the needs in your community — this means $120 of your stimulus directly impacts your neighbors. The next 40% spend at local businesses you support — that $480 spent at a local business is easily compounded as they pay employees who also spend their paychecks ($1 you gave is now $3); the people they spend it with does the same. 
Some of those dollars filter out of the local economy but some might change hands 10-15 times, but it only works if people place a focus on shopping locally. Sure you might pay a bit more at the local hardware store but the community value makes that purchase a community investment. Does your daughter’s sports team go to Amazon for financial support? Does the local theater go to your cell phone company for financial support? Does your local service club go to your credit card company for financial support?
Think about your shopping habits and invest wisely. It takes a village (of shoppers) to raise a child (community).
Reed Prescott
Lincoln

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