swapping skills - no payment

Sallys_Savings

Hi all,

I was sitting in the dentist today and whilst reading a magazine came across an article about swapping skills. You know...I'll do your gardening for a morning if you have a look at my boiler etc. with NO money :j exchanging hands.

I've come across this a few times over the last few years on websites/magazines and wondered how many of you do this. I think its a fantastic idea and would really like to get involved (at the moment trying to see if there is anything similar in my area).

It would be really good money saving...but I'm not sure what skills I possess though :rotfl:

When I watched a programme a few years back they dealt in tokens if you werent able to do a straight swap. There was a wide range of skills being swapped......Cooking for a dinner party, decorating, gardening, babysitting, accounts, sewing, cleaner/decluttering, exercise companioin/trainer, vegetables & Fruit from an allotment, computer skills, knitting, teaching bridge etc. etc.

Has anyone done this on a regular basis...or use a time bank (I'm sure thats what it was called on a tv programme once)....sharing skills group?

Icemaiden

Have never done this but think its a great idea (think i must of watched the same TV programme) My friends parents live in rural france and apparently its common practice over there.

piglet6

I've heard of this before... Try https://www.timebanks.co.uk for further information, but I'm not sure how the tax implications kick in for these situations... :mad: - I have a feeling that tax may rear its ugly head...:eek:

Piglet

Lillibet_2

I think there is a scheme called LETS which lets you earn "credits" for offering your skills & you can exchange the credits when you need someone elses skills....will have to google it......

Edit : http://www.letslinkuk.net/

livinginhope

When we had our own shop,about 10 years ago,hubby had VERY bad tooth,went to the dentist explained he couldn't pay so they dentist gave him 5 pairs of shoes to sole and heel! we did this for about 4 years,dentist was over the moon his shoes always looked fab and we all got our teeth fixed,no money ever changed hands.
We also did this for riding lessons,hubby repaired the saddles in exchange for rides.

Trow

The biggest difference between timebanks and lets as far as I can see is that lets is taxable (being as you pay a cost for a service) - timebanks is not (as you are swapping one hour for one hour).

I'd never heard of timebanks, but its a great concept.

MrsTinks

looks like you'd have to pay £100 to join the time bank one :eeek:

Trow

That £100 is for a timebank to join Timebanks UK - not for an individual to join a local timbank.

Sallys_Savings

livinginhope wrote:

When we had our own shop,about 10 years ago,hubby had VERY bad tooth,went to the dentist explained he couldn't pay so they dentist gave him 5 pairs of shoes to sole and heel! we did this for about 4 years,dentist was over the moon his shoes always looked fab and we all got our teeth fixed,no money ever changed hands.
We also did this for riding lessons,hubby repaired the saddles in exchange for rides.

Glad to see this is working for some one

culpepper

When they advertised LETS here,there was no money changing hands at all.
The scheme worked with credits called stones.Each person would offer a service charged by stones per hour or whatever then they (virtually)banked their stones until they needed to 'spend' them.

newleaf

The Lets scheme I have heard of uses 'bobbins' as the unit of exchange. I haven't heard it mentioned for ages so I don't know if it's still going. I don't believe it is taxable, as no money changes hands.