We all know about the idea of “strength in numbers”, and how people working together can achieve incredible results. In the mainstream individualistic society, this idea is rarely discussed in terms of financial strength: we’re taught to go to school, work hard, save, spend wisely, and maybe invest our money. What if we were taught to collectively invest our time too?
Welcome to time banking, the ultimate expression of “time is money”.
By joining together with a group of participants with different skills, creating a timebank is a way to trade skills and services without using money, where your time becomes the currency! Time banking brings people together, builds trust, and helps people in times of need.
Based on equality, every hour of work has the same value, whether it’s babysitting, guitar lessons, graphic design, or bike repair. We all have different skills, and we all need help from time to time. From helping paint a room or moving homes to computer skills or legal advice, participants decide what skills they want to offer, and what skills they need.
How does it work?
You help someone for an hour and earn a credit, which you can spend by getting help from someone else. Use online groups, WhatsApp, or other online platforms like Google Sheets to stay connected and track your time credits. It’s that simple!
Time banking can create a stronger sense of community and purpose, supporting a more mindful way of living consciously within a community. Even though some skills may seem under or overvalued at first, growing a timebank with a small group provides opportunities to appreciate other’s skills, and their time. It encourages sharing, trading, and can reduce the need to spend money unnecessarily.
