At first glance, it seems crazy that the physician’s time is equal to the dog walker’s time but that is exactly what is at the core of timebanking. Timebanking is not meant to replace real dollars. At a time of…
What if I feel like I don’t have anything to offer?
You would be surprised at how many people share this feeling. We all have something to offer. If you can offer a kind word or make a phone call or can drive one person to the store, you have an…
What if I don’t want to offer the skills that I have to do every day?
Even though you are probably great at your day job, you very likely have other skills, talents and passions that you’re willing to share. There are literally thousands of ways to earn TimeCredits in the TimeBank. You might also consider…
Who pays for material costs in an exchange?
Great question! The receiver of the exchange pays for all materials used by the provider, if there are materials. It is important that this is discussed before the transaction takes place. For example, if I give Kristina a ride to…
Can a member combine cash and Time Credit fees for services?
Absolutely! As long as that member is clear when he or she writes their ads on the software. While you can’t give a cash value to the TimeCredits, you can easily split the fees. For example, if I estimate it…
What if I don’t have time to join a TimeBank?
None of us want to add one more thing to our busy lives. The beauty of timebanking is that it will free you up to do the things you enjoy doing! You might ask yourself, what is it that you…
What are TimeCredits (some people call them Time Dollars)?
TimeCredits represent the amount of time one TimeBank member has spent helping other members. When you spend an hour helping another TimeBank member, one Time Credit gets added to your account and subtracted from the account of the member who…
Who records the TimeCredits?
Either member can record the exchange. Just agree before or after the transaction. Each member will receive an email notification of the transaction.
How many dollars is a Time Credit worth? Does a TimeBank hour have a monetary value?
No, a TimeCredit never has a monetary value. TimeCredits just track services (and sometimes goods) people provide for each other.
Are TimeCredits taxable?
No. TimeBank hours have been ruled tax exempt on two occasions by the IRS because an hour is always valued at one hour. There is no legal responsibility on anyone’s part to redeem a TimeCredit, it is considered a “non-commercial…