For every hour you spend doing something for someone in your community, you earn one hour to use to have someone do something for you. It is an alternative way to give and receive resources. It's that simple.
Many of us have friends, neighbors and family members who help us out, but they can't always be there. A community timebank is like having an extended family to help out. Whether you give a music lesson, take care of someone's pet, or take someone to a doctor's appointment, one hour given equals one hour you can then use. The BACE Timebank honors the unique gifts, talents and resources that each of us has to share, regardless of age, employment or ethnic background, such as tutoring, yard work, repairs, running errands, and storytelling. Timebanks also help enrich our lives with things we may not normally be able to afford, like language lessons or massage. Spending time dollars instead of cash, can help you save money for expenses like rent, medicine, and food.
The formal economy is unstable and currently in a recession, but we can create community resiliency through the informal economy, providing a different kind of security based on relationships, trust, caring, and reciprocity. Many other countries have large informal economies that help people meet their basic needs through local connections, as did this country earlier on. By participating in the timebank, you are creating a more caring culture and healthy community to live in that will help take better care of all of us in the long run.
Timebanks have been helping to rebuild the informal, village economy for over twenty years. There are now over 300 communities in 22 countries that are using this (pay it forward) system to help their communities grow and thrive.
To learn more:
BACE is a Bay Area 501(c)3 nonprofit, fiscally sponsored by the International Society for Ecology and Culture, that develops currencies. BACE is governed by a collective of volunteers that are members of the Timebank.