Local Exchange Trading Schemes (LETS)

kitaj

Just to let you know that there is a whole word of free services in most areas of the UK. They are called Local Exchange Trading Schemes (LETS) where people trade skills, knowledge and services between each other. Most people have skills or simply muscle power or time that are valuable to other people and can be exchanged; no money changes hands. Many of those in the cities (in particular) are an excellent source of freebies, for instance haircuts, man+ van, badger watching, aromatherapy massage, garden clearance, etc.

Like so many things, the quality of the local scheme depends to a large extent on the enthusiasm and energy of the individual(s) running it and the effort of those taking part.

A starting point for info in your area might be https://www.letslinkuk.net and https://www.moneymatterstome.co.uk/1-What-Money-Is-and-Money-Exchange/Sub1/LETS.htm

Also good for socialising - esp. if you've just moved to a new area. Plus some also run cheap local credit schemes.

ioscorpio

See also Timebanks

http://forums.moneysavingexpert.com/showthread.html?t=90152

zzzLazyDaisy

The problem is that LETS groups tend to work alone and often do not have an internet presence (I know Letslink is working to change this, but there is still some way to go).

For example, I know there are LETS groups in Congleton and Newcastle-under-Lyme. I live about halfway between the two. But apart from listing them on the site, Letslink provides no further details and so far has not responded to my email asking for contact details.

I have tried googling and asking at the local library, but to no avail.....

Do any MSE'rs have contact details by any chance?

Many thanks!

Hapless_2

Btw If you do work or make a gain by being part of a LETS scheme, you have to declare it to the DSS.

Sharra

I used to belong to one of these years ago but I think the ones near me have all died out now. It was pretty handy

zzzLazyDaisy

Hapless wrote: »

Btw If you do work or make a gain by being part of a LETS scheme, you have to declare it to the DSS.

Only if you are in receipt of state benefits....

blue_monkey_2

I want to set up a 'group' on yahoo offering a local trade exchange, but I wonder if I should do it and advertise it in the local newsmag that comes around to see if it gets any interest and if anyone posts. I think it is a great idea, what are your thoughts?

Say I need some plastering/DIY/Painting/Gardening doing and can neither afford it or have the skills to do it myself, I could advertise on there saying what services I can offer such as cleaning, ironing, bookkeeping, typing, washing, etc.... in return for a bit of work being done in my house.

Now I think it is a fab idea in that my husband would rather be fixing cars than doing DIY (LOL, 15 months for my bathroom of 7 x 6 to be finished) but someone else might need a car fixing but would rather be doing DIY. So maybe they could 'swap' roles and the works gets done for just the cost of the materials. Plus you may end up making new friends locally as no-one seems to speak to each other these days.

What are your thoughts on this? I think it is a great moneysaving scheme, your thoughts would be of interest. Thanks.

whatatwit

Hi, I have read about this sort of idea, and I think most groups use a 'token' system rather than money.

I suppose that each interested party gets 5 tokens for example to start off and depending upon the skill, it would cost 1 token per hour...possibly more or less.
That way, your tiler might not need work doing on his car now..but could use his earned tokens to get a carpet fitted.
Jobs such as baby sitting or any other skill could be included.
I think it's a great idea.

Magentasue

I think http://www.letslinkuk.org/ is the best known scheme - the one we had locally folded up a long time ago but there are plenty still going.

blue_monkey_2

Ah yes, tokens would be a great way of doing it by the hours, I never thought of that. Are there other places doing this already? Would people initially buy the tokens to be able to offer them? How would that be policed? It all seems rather interesting - especially in the little villages in and around where I live.

Magentasue

If you go on the LETS site you can look up groups in your area - I've just looked and there seem to be a few in Herts. If you go on the 'Best Practice' page, there's a link to 'How to start'.