Service Exchange Banks: Shop With Time, Not With Money
Ever heard of "time dollars"? Join a time bank to get what you need or want without spending cash or ruining your line of credit.
These time dollars don't ever expire. They build community and friendships, save you money, give you a sense of service and achievement, widen network, pool skills and talent for the benefit of all, give you the opportunity to know your neighbors, and keep your skills sharp.
Participants don't need extraordinary skills to join and benefit from a time bank nor is there an age limit. Do you have a few hours to spare? Baby-sit for 2 hours, pet-sit for another hour, walk someone's dog for 20 minutes, water someone's lawn for 15 minutes, and clock in all those time dollars so that you can spend them on a manicure, message, auto repair, and just about anything service-based.
Offering your services to your local community also allows you to explore entrepreneurship if you have a particular skill that can be turned into a viable busimess, as such, time banking becomes an opportunity to survey the "market" and come up with a pilot business plan.
If nothing else, it gets you out of the house and stops you from being overwhelmed by the current economic climate.
Time bank is a system of barter, not with goods but with services. Unlike bartering, transactions in time banking are not usualluy reciprocal. Jane baby-sits for Mary, who cuts Richard's hair, who repairs Sam's car, and so forth. Everyone earns and spends time dollars. Their labor is valued equally as one hour is always worth one time dollar.
Another advantage of this system is that time dollars are NOT taxable. It's not taxable as an income and it's not taxable as a good (no sales taxes). Now isn't that a refreshing change!Continued on the next page