What Will $50 Buy You?

What can you get for $50 today? A new summer dress, a decent meal, a tank of gas? What if $50 could  save your local economy?

According to Cinda Baxter, Founder of The 3/50 Project, that is exactly what your $50 could do. The 3/50 Project works by asking members of a community for a commitment to pick 3 and spend $50. It’s as simple as that!

* Pick three locally-owned businesses that you would hate to see disappear and patronize them each month.

*Spend $50 per month in locally-owned businesses. If half of the employed U.S. population did so, it would generate more than $42.6 billion in revenue annually.

How does it help the local economy?

*If you spend $100 in a locally-owned business, $68 is returned to the local community. When the same amount is spent in a big box chain or franchise, only $43 remains within the community. Purchases made online from distant businesses represent no financial benefit to the local economy.

Baxter, a retail consultant and professional speaker, spent 14 years as a successful independent store owner. Back in March of 2009, she posted a blog responding to the fear and reluctance of consumers contemplating spending money in a challenging economy. She wanted to create a positive, achievable message aimed at helping the small, independent business owners stay afloat during the turbulent times. All it took was one post on her Always Upward site and a free, downloadable flyer and within 48 hours 350 people were emailing and asking for more information. Two weeks later, Baxter launched The 3/50 Project website and within 7 days, more than 7600 people found it!

As an independent, “brick and mortar” business, Lois Schneider Realtor is committed to joining other local business owners in an effort to keep our local towns the vibrant, interesting, service-oriented and consumer-friendly communities that they have always been.

So…where will you spend your $50 this month?

*Information about The 3/50 Project and Founder, Cinda Baxter, is courtesy of www.the350project.net.

Tags: 3/50 Project, Brick and Mortar Businesses, Local Business Support