Pay it forward with Time Banking, an egalitarian concept where communities offer services to each other in exchange for time dollars, not real dollars. For instance, I build you a basic website, which takes me 6 hours. In exchange, I’m able to use that 6 hour credit in exchange for services some else offers. Perhaps, I need someone to babysit my brother for 3 hours, take me to grocery store for 1 hour, and landscape the front yard for 2 hours.
Time banks draw on a community’s resources byÃ‚Â listing the services every member can offer.Ã‚Â When in need of something, members log-in to the Time Bank’s website to find someone offering those services.Ã‚Â It’s an incredibly easy system that can reduce financial limitations and is inclusive to all members of society that have something to offer.
Given the economic climate, I’m curious to see if we’ll see an increase in Time Banks and other forms of alternative currencies.
To learn more about Time Banking, go to TimeBanks.org.Ã‚Â Below are a few articles recently written about them.
Detroit Free Press – Time banks pay off for community
San Francisco Chronicle – Sweat Equity:In this East Oakland community, time really is money
The Jerusalem Press – There’s no time to lose