What is a
Timebank?
A timebank is like a
local community bank that keeps track of time instead of US dollars.
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.
How does an
exchange work?
Let's say you need
someone to help out in the garden for two hours. You can post a
request to the timebank or search the timebank directory and contact
another member to set up an exchange. A timebank member then comes by
and helps out in the garden. Once the service is completed, you
transfer hours on the timebank from your account to the service
provider. You've spent two time dollars and another member has earned
two time dollars that s/he can spend elsewhere in the timebank.
You can also post
service offers to earn more hours and help out your community.
Posting specific offers and requests help generate more exchanges and
invigorates the timebank.
What's in it for
me?
You may get credit
for things that you love to do but don't often make time for. You can
save your scarce cash for things like rent, food, and medicine and
use time dollars for the rest.
You are also making
a difference in someone's life, whether it's giving a ride to a
person who doesn't have a car, tutoring a student, translating,
sewing, or helping with computer problems, things that they might not
be able to afford but need. You are contributing to a more caring
culture and healthy community to live in that can help take better
care of you in the long run.
How much time is
involved?
You may participate
in service exchanges as often as you are able. Some members give or
receive services every week, or every month, or a few times per year.
You are invited to help each other by doing what you enjoy when it is
convenient for you. Usually the more you give the more you get back
in many ways.
Many of the services
people exchange in a timebank are the types of things they are
already doing every day. For example, those of us who have children
are already cooking for them, driving them to activities, and helping
them with their schoolwork among other things. Cooking an extra
portion of food for someone down the street who is housebound,
picking up your neighbor's kids on the way to soccer practice, or
helping the child down the street with his homework doesn't add work
to your day. Or, if you have a dog and take it for a walk every day,
why not pick up your neighbor's dog along the way?
What if I don't
have any skills or a service to offer?
At the core of
timebanking is the belief that everyone is valuable and everyone has
something to offer. Think of the various tasks you do everyday (e.g.
cooking, driving, walking a dog, etc.) and your hobbies (e.g. sewing,
graphic design, writing, playing tennis, photography, etc.). Don't
list only what you could get paid to do in the formal economy. The
timebank economy is an informal economy of people doing the types of
favors that family and neighbors have been doing for millennia. Thus,
mentoring, braiding hair, beginning guitar lessons and making chicken
soup are all great offers!
You can also contact
the timebank administration if you volunteer for a nonprofit and want
to earn time dollars for volunteering. If your organization offers
services to the community, it may be eligible to join the timebank.
Contact centralsdtimebank@gmail.com for more information about how an organization can apply to be a part
of the timebank.
Why is everyone's
time given the same value?
At first glance, it
seems crazy that someone is paid the same for web design and pulling
weeds, but this turns out to be the core of what makes time dollars
really work. Putting a price on people's time separates us by making
some people more valuable than others. Time credits excel in building
relationships because they place an equal value on everyone's time
and relationships above profit.
Time credits aren't
meant to replace US dollars. They are designed to counterbalance the
market economy where people may have invested in special training to
make their time more valuable. There's nothing wrong with that, it's
just taken over too much of our experience of the world. Almost
everything is monetized. We are building a parallel economy where
people take care of each other as families. We build extended
families or villages by geography.
Can I trust the
people in Timebank to come into my home?
Most people on the
timebank are probably trustworthy. However, we do not screen people.
If you have any doubts, please do not accept the person's offer to
help. It is up to each member to get to know and feel comfortable
with another member. Some people who offer to care for elders or children for example may choose to have their background check run. And all will have references available.
What keeps the
system honest and fair?
Whenever one person
earns time dollars, there is a corresponding debit for the same
amount in someone else's account. No one is anonymous in a timebank
and transactions are transparent. This makes it pretty easy to know
whether transactions are honest or not. There is not much incentive
to cheat because the system is inherently abundant and is based more
on reputation than anything else.
What if the
quality of work doesn't meet my standards?
Sometimes you get
professional quality work, but you can't always expect professional
standards as the receiver or giver. People are donating their time
and skills to the best of their ability. If you have a concern that
you want to share about someone's exchange, pleases contact centralsdtimebank@gmail.com
What if a
member's conduct is unacceptable?
We have a process
for handling complaints about conduct. Through this process a member
may be suspended or removed from the system. Please contact
centralsdtimebank@gmail.com if you have a problem.
What if I don't
have Internet or Email?
We can help you find
free public computer terminals or a friendly neighbor with a computer
and set up an email account. We can also find a "computer buddy" who can help find and post requests and offers for you.
Can children join
the Timebank?
Yes, with their
parent or guardian's permission, children and teenagers can
participate in the timebank. The timebank can be a great way for
children and teenagers to secure tutoring, music lessons, mentoring
and job coaching, as well as feel useful and develop skills.
What happens if
you go into debt?
Having a negative
balance is not a big deal in a time dollar account. After all, people
have to receive in order for others to give and everyone needs to be
cared for sometimes. Currently, we have set the limit around 3 hours. Reaching the limit triggers an administrator to contact you to
help you spend or earn more hours. Limits may change as we see what
works for the system.
Do I have to live
in San Diego Area to participate?
We prefer that
members be in the Central San Diego Area on a fairly regular basis. It is difficult
to build a community with people you can't get to know and are not
able to regularly exchange.
Are hour
exchanges tax-exempt?
Yes, timebanking is
different than bartering, it is not taxable. In normal bartering, you
have to declare the value of the good and services you receive to the
IRS. In independent contractor or consulting work, you should declare
your income in US dollars. However, timebanking is considered
volunteering as long as you don't charge market rate for your service
(more or less than one hour for an hour).
Can I share my
hours?
Yes, you can always
gift your earned hours to a member of your family, a friend, or
someone in the community who may need hours.
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