Image of Products at Orchard Lane Family Farm Submitted by: Melody Land
When the air is crisp, the leaves have fallen, and geese gather themselves for their yearly trip south, thoughts turn toward upcoming special days: Halloween, Remembrance Day, and then Christmas! Christmas is a widely celebrated event where family and community traditions blend in harmony. School concerts, special dinners, holiday parties, music events, charity donations, and travel plans loom over many of us by mid November, and before we know it we are knee deep in coloured lights, festive ribbon, and list upon list of things to do, places to go, and stuff to buy.
When the air is crisp, the leaves have fallen, and geese gather themselves for their yearly trip south, thoughts turn toward upcoming special days: Halloween, Remembrance Day, and then Christmas! Christmas is a widely celebrated event where family and community traditions blend in harmony. School concerts, special dinners, holiday parties, music events, charity donations, and travel plans loom over many of us by mid November, and before we know it we are knee deep in coloured lights, festive ribbon, and list upon list of things to do, places to go, and stuff to buy.
Image of Studio on the Marsh Recent studies show that the average Canadian spends somewhere between $1500 and $1800 on Christmas, with around $900 of that on gifts. This is no small amount!
 Image of Products at the Pottery Buff | Gifts, travel and meals make up the majority of that spending and while it can be fun and exciting, for many the financial strain is also a huge consideration. And so, we ask the question: “How can I get the biggest bang for every dollar I spend this holiday season?” The answer may surprise you! |  Image of Products at Fundy Coast Sea Soap |
Studies and experience tells us that the best way to make your money make a lasting impact, the way to get the biggest bang for your buck, is to buy local. In Albert County, one of our greatest sources of income is in tourism, so let’s use it as an example. Tourism infuses our local economy with money during a relatively short period; from tourists renting rooms to government funding for attractions, our county becomes a hub of activity by the start of July.
Image of Products at Farmer Brown's It is then up to us as a greater community to keep driving our local economy forward so we can see the full effect of these dollars. Economic stimulus, or in other words, the financial growth, of our county is dependent on how much of that money remains in it after the tourist season ends. Buying local helps ensure that the money we bring into our economy stays there. Buying local creates more local wealth, which creates more local jobs, which increases demand, which advances wages, and the cycle continues. This is because independent, locally owned businesses recirculate more money back into the community. A study showed that major chain retailers only put 13% of their revenue back into their community, while locally owned business redistribute 48% of their revenue directly back into their community — so think, almost fifty cents of every dollar we spend at a local store comes back into our community in some way, compared to thirteen cents from the big box chains.
This difference is enough to pay salaries, open more business, spend more money, and provide financial opportunities for your neighbours, family members, even yourself! Another researcher figured out that twice the money stayed in the community when people buy local — that means your purchase is twice as effective in keeping our local communities alive and prosperous! Now that is major bang for your buck!
Image of Products at Briggs Maples
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