About Time Banking

What is a Time Bank?

A timebank is a way to exchange services without charging money, and it's a way to get and give help. If you spend a few hours helping someone, you earn time dollars for that service. Then later you can spend those time dollars to get someone else to help you. This way you can help people with whatever you're good at and you can find people to help with what you're not good at. The key is that in a large group, you don't have to exchange both ways with the same person because the timebank keeps track of the hours you've earned. How is this different from a regular economy? It operates under the theory that when helping each other, everyone's time is of equal value. Sometimes time trading can help you find experts or teachers of things you wouldn't otherwise have access to, and sometimes it can get you services that you would otherwise have to pay money for. It's a new way to organize the traditional concept of neighborhoods and communities.

Why Time Banking?

Communities have lost the personal connections that provide support for basic human needs, as our society has become more mobile and there are fewer people at home with time to attend to caring for others. Caring for people does not have much value in our society if value is measured by financial reward. Individuals who are unable to participate in our current economic structure are marginalized, feel worthless and become alienated from society. The high level of alienation felt by increasing numbers in our society leads to communities characterized by distrust for neighbors, a lack of civic engagement and violence.

How will the Time Trade Circle Help?

The Time Trade Circle will redefine work to include whatever it takes to rear healthy chidlren, preserve families, care for the frail and vulnerable, and make neighborhoods safe and vibrant. The Time Trade Circle will connect neighbors to neighbors who will treat time as a currency and will exchange services with one another. In the Time Trade Circle every individual's work is honored equally. The help Time Trade Circle members provide to one another will build a network of support, strength, and trust.

Core Values of Time Banking

Assets and Equity: The real wealth of society is its people. Every human being can be a contributor.

Redefining Work: Work must be redefined to include whatever it takes to rear healthy children, preserve families, make neighborhoods safe and vibrant, care for the frail and vulnerable, attack injustice, and make democracy work for all.

Reciprocity: Acts of helping are most powerful when giving to another becomes a two way street. To avoid creating dependency, "You need me" becomes "We need each other."

Social Capital: Human beings require a social infrastructure as essential as roads, bridges, and utility lines. "No man is an island". Informal support systems, extended families, social networks are held together by trust, reciprocity, and civic engagement.

The Founder

Dr. Edgar Cahn created the concept of Time Dollars.
Read more about him here.