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Step 1
Barter SystemBARTER TO SAVE MONEY: When I was in college, I needed a voice coach to finish out my senior year. Since the lessons were with a world renowned musician, they cost $160 an hour and I couldn't afford to pay it. Luckily, he was a firm believer in the barter system. We exchanged skills instead of money. I got my lessons and he got his house cleaned every week. His wife was THRILLED! So was I! Everybody wins.
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Step 2
Barter SystemBARTER YOUR POSSESIONS - Evaluate what you have, that you can possibly trade for something you need. It could be anything, as long it is something that someone else might want. An extra lawn mower you have taking up space in the garage, an antique gathering dust on the mantle that your neighbor admires, books, tools, homemade bread? Anything. It should be in good working condition.
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Step 3
Barter SystemSHARE YOUR SKILLS - Maybe you don't have a lot of stuff to trade, but you know how to do a lot of things. Can you create a web page, do plumbing, wax a car? Your time and skills are worth something and can be of value to someone else in trade.
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Step 4
EXECUTE THE TRADE - Let's say that your neighbor has a baby crib that they don't need anymore. You have a baby on the way and could use a good one...it doesn't have to be new. Approach your neighbor with the idea of a trade. You know they need their front room painted, but have been too busy to do it. You can offer to paint the room for them (labor) in exchange for the crib. They would supply the paint. A perfect trade agreement with no exchange of money.
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Step 5
MAKE A FIRM CONTRACT - Anything that is traded that is worth more than, say, $100 should have a contract written up. Trade agreements can be very casual if they are a simple trade. More complex ones, or ones worth a lot of money should be spelled out and everyone should sign it. This way, everyone is clear on what is being traded and what is expected.
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Step 6
Barter SystemBARTER OUTSIDE THE NEIGHBORHOOD - Most times the barter system is used between people you know; co-workers, neighbors, relatives, etc... There is a new way of doing it, now, with people beyond your own circle.
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Step 7
BARTER IN THE LARGER COMMUNITY - Local newspapers, the Pennysaver and Craigslist will sometimes advertise Needs and Wants for people who want to trade.
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Step 8
BARTER ON THE INTERNET - The Barter System is taking over the internet. There are now places on the web where you can barter goods and services with people FROM ALL OVER THE WORLD! They are called a Barter Exchange. Some are locally based and connect people who live in the same general area, like Craigslist. Some are global, and they are run a little differently, like Merchants Barter Exchange.
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Step 9
USE A BARTER EXCHANGE - Most barter exchange sites work on a membership basis. You have to become a member. Once you are a member, you can offer your services to others in the network. When you do work for someone else, that work is assigned a point value. Those points go to your "bank". When you have enough points for something you want, you can withdraw them and use them to "purchase" something you want from another member...even a NEW CAR or TRAVEL! The person you "purchase" from may not be the same person you "worked" for to get your points. It's a great way to use the barter system.
Comments
goldiec said
on 3/8/2009 Great article Thanks 5*
dlcass said
on 12/28/2008 Thanks for the warning Jamaclassics. I didn't know about that. Barter System
jamaclassics said
on 12/28/2008 Some former landlords got into tax trouble doing this.
There are some laws on the books you might need to check out, lest you wind up owing taxes on something of value you traded for!
anixon84 said
on 12/21/2008 Very neat idea, thank!
deepthinkin said
on 12/21/2008 This is timely information! Thanks so much.