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A Little Bit More: Exchange Services through Time Banking

Thoughts from Celeste.


Image courtesy Flickr user reway2007 Phrases like "economic crisis" and "global downturn" have inundated our vocabulary so much that they're starting to become as common as our greetings. But have you heard much about the "core economy"? It's a different way of viewing how we exchange goods and services – and Time Banking is its biggest proponent.

Time Banking works like this: I spend an hour tending my neighbor's garden, for example. That hour goes into a Time Bank as a Time Dollar. I can then cash that in by asking someone in my community to spend an hour of their time helping me with something I need. The system revolves around the concept of "core economy," which Time Bank founder Edward Cahn cites as as "...another, invisible economy that we take part in every day of our lives. It is the economy of home, family, neighborhood and community. We don’t think of it as an economic system—but it is."

While it may not be the be-all-end-all solution to the situation the world is in now, it's something small that can potentially give your community a boost. I love how Time Banking highlights the fact that we are all assets who have something to give back – my time is equally as valuable as yours. Time, then, becomes the great social leveler.

Critics of Time Banking say that there may be a lack of skills in the community, which inevitably makes reciprocity difficult. Each Time Bank also has a coordinator, which can lead to problems of sustainability. On a practical level, what if the service somebody provides for you is, well, bad?

Despite the criticism, 26 countries from Senegal to Japan have active Time Banks, many which have met with success. The Youth Court in Washington, D.C., for example, uses Time Dollars as a way to incorporate young offenders back into the community instead of entering the juvenile justice system. Housed within a health care center, staff from the Rushy Green Time Bank in the United Kingdom encourage participation in the system as a way to reduce patients' feelings of anxiety and isolation – prescribing time credits over medication when appropriate.

So, how can you or your community get involved? You may surprised to learn that churches, nonprofits, hospitals and more have used Time Banking to support their programs. There may be some already up and running around the corner; the first thing to do is to ask around or search the Time Bank directory. If you don't find one, starting your own with neighbors and friends is an option. In this time of economic uncertainty, it's an investment you can't lose much on.


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Previous entries in our A Little Bit More series:
February 27: Donate Your Birthday
February 23: Support the Arts During the Economic Downturn
February 19: Use the Internet to Stretch Your Organization's Dollar
February 17: Asking One Another: What Can We Do Now?