Buy services you need without spending any cash

PHOENIX - Have you ever heard of time banking? With the economy in the dump, I think this is a time for thinking out of the box. Imagine a world without paper money? You get the services and things you need but you pay with your service instead of cash.

Candice Aguirre and Ana Hansen are starting a new time bank in Phoenix.

Christine Lazo is a coordinator with the Sedona time bank, already in full swing. So, what exactly is time banking?

Candice says it's when you spend time doing something for someone in the community. For ever hour you help, you receive one time dollar.

You can use that time dollar to have someone do something for you.

Everyone's time is of equal value and everyone has something to contribute in this model.

The more people that join, offering their unique talents and skills, the richer everyone becomes.
It's a non monetary cycle of giving and receiving that builds community while meeting everyone's needs. This concept really caught my attention.

There are many reasons to join your local time banks, according to Candice.

She says first, you can save a lot of money by using your time dollars to receive the services you need instead of your using your money.

That concept alone sounds great. She adds you can save your money for the things that you can't live without, like the roof over your head, food, and utilities.

In this economy, it seems everyone can use a little help and hang on to there cash.

Time banks also offer an instant community of like-minded individuals who you can call on when you need something.

They provide a great place for people to use their unique talents and skills to help others, which always feels great.

And, for the business-minded, it's a great way to grow your business. Word of mouth is one of the most powerful marketing tools, and the more you offer your services in the time bank, the more people will know about you to recommend your services.

Candice adds one more plus, and that is fun. Time banks give people the opportunity to participate in life in a way we have forgotten. You can splurge on having fun without it denting your pocketbook. What have you always wanted to learn? How to rock climb or play the guitar? There's nothing to lose and everything to gain when it comes to Time Banking.

So how does time banking work? Candace says that in your time bank account, you'll post the things you'd need others to help you with, as well as the things you can help others with.
You can also scroll the other members' offers and requests to see if there's something you'd like or someone you can help out. The software they use makes it really easy and keeps track of everything. For those who don't have access to the internet, they will manage the online part of it for you.

Time banking, of course, is not for profit, but there are costs that everyone who is a member needs to help with. The fee covers the cost of the website and software. Also, time banks often try to write grants, which help reduce annual membership fees and help the time banks grow.

As of now, Candice says the Phoenix annual membership dues are on a pay-what-you-can sliding scale, from $5-$20, but the first 50 folks to join will get that sliding fee waved.

Candice also adds that you can sign up www.PhoenixTimeBank.org on the New Members page.
The first orientation is at the end of January.

If you would like to contact the Sedona Time Bank go to www.Sedonatimebank.org .