It's a success they say

At least according to FireDogLake.com (Their About Us page is rather vague) Bank Transfer Day a Resounding Success for Move Your Money Movement. He give a few stats and offers his own editorial on how he moved from Bank of America to a credit union.

There are some interesting Tweets at along the side about Bank of America charging $10 to close accounts, but that feels slightly rumorish to us here. Now it could be true, with the increase of fees, who knows what's being charged when and to whom. But the overall message is still a positive one:

By changing your bank, you save money and the money your local bank/local credit union generates stays within the community.

I don’t know that this will hurt banks. As Zach Carter and Ryan Grim point out, accounts with low balances actually cost the big banks money to manage them, so moving those accounts out saves them a bit of money. I’m not sure I totally buy that, as banks still need working capital and they lose out on a suite of fees, many of which are targeted at customers with low balances. But it’s possible.

Every Little Bit Helps

Or Don't Do Nothing Because You Can't Do Everything!

Changing the way we shop as a nation won’t be easy.  It will take a commitment of time.  It may take more planning than we’re used to doing.  And most importantly, we will need to change our entire attitude toward shopping.  None of those things will be easy.

So, as the experts say, take it one day at a time.  One item at a time.  Make a small commitment, something you can do without changing your life too much.  Pick ONE item you need, and see if you can find it locally instead of hitting the box store.

Did you know Ace Hardware and True Value locations are franchises - not box stores - and as such are small businesses?  Bet you can find one around you.   Or even better, if you use your Googling skills, I bet you could find an independently owned hardware store somewhere.  Or butcher.  Or fish market.  Or liquor store.  Or, well, you get the idea.

In the search box type in what you want to find and your zip code to narrow the search. For instance, if you live in the Frankford section of Philadelphia try: Ace Hardware 19134. Now sometimes this won’t work depending on distance between you and the store so play around with it-go to Acehardware.com and then click on the link to find a store.

Maybe something as simple as eating at a local restaurant instead of a chain for your next night out.  Think about where your favorite eatery or pub is - is it a cookie-cutter chain, or is it a small local spot that only you and a few friends know about?  Head on over, and keep your money local.

Maybe it’s not even shopping - maybe it’s spreading the word about a local business you know to be good.  Give your friends - in person or online - the heads up to check that local business out next time they need something.  Local businesses LIVE OR DIE on word-of-mouth advertising, and a positive word can be the equivalent of hundreds of dollars of precious advertising expenses.

Taking each day and buying local wherever you can, will help bring about this change in America.  Nothing happens overnight, but if everyone makes at least one change, it WILL happen.