Do you shop local?
The 350 Project
Have your seen the 3/50 project? It’s a viral campaign to “help save the local economy” – by supporting locally owned businesses.
“The idea is to commit $50 each month to locally owned businesses, total. Maybe that means rethinking where you currently invest your money, opting to pick up that birthday card or pair of jeans in a locally owned business instead of the big box you’ve been going to. Or maybe it means eating out once a month because you realize slamming the brakes on all spending stalls economic recovery. It’s just that simple.”
Is the economy a catch-22?
I find this initiative a bit of a quandary actually – because the economy affects people across the board – including the would-be consumers of the products for sale.
Understandably, they chose the $50/month number because it should be achievable *in theory* – but for the many citizens across the country that are struggling to make ends meet – every dollar is important to them. Many residents I’ve spoken with have indeed cut back their “luxury” spending (and eating out less, buying online, in bulk, etc.) – but a majority still spend a significant amount of money in Hoboken, just not as much as they used to. Others have said they get a better value at the big-boxes or outlet stores. I think that because of the “mass transit” nature of our town, many residents almost have no other choice than to shop locally. Sure, there are some shops closing, but I don’t think it’s nearly as bad as other parts of the country.
How would you suggest supporting the local economy? Re-structuring your own spending? Having less, but spending locally? Landlords lowering rent to allow businesses to lower their prices too?