Timebanking is a way for people to help each other, build relationships, be recognised for the help that they give to each other and their community, to build resilience for times of difficulty and to foster a spirit of generosity

 

 

There are many ways to understand timebanking:

It is a way that people can trade in time credits instead of trading with money. Any hour spent on a job is worth an hour of time credit.   Doing this helps people get in touch with those living around them who might be able to help when help is needed.  

Find out a wee bit more here in this short video:

We are all good at doing things to help out friends, but we may not know what all our different friends can do, nor what they need.  Timebanking helps people make new friends.

Timebanking also helps us to trade with many people so a person can receive assistance from one person and pay that gift forward to whoever needs it. It means there is less need to swap directly with someone.  See the picture below to get an idea of how it works.

tbpppic

No money changes hands at any point – and it doesn’t affect anyone receiving benefits.         

There is more, though!

Some people really enjoy volunteering their time and they may build up a lot of time credits, but not have much that they want to ask for. They can double their volunteer benefit by donating their time to the community chest or to a community organisation, so that organisation can then use the timecredits to "buy" help for someone.

Communitychest

For community organisations that join,  the Timebank can be a way to log volunteer hours - something that can then be a useful record for funding applications. Individuals who are generous with their time and build up many time credits can also choose to donate those hours back to the organisation so that they can then encourage new volunteers by offering them time credits.

Requesting help is an important part of timebanking. That means requesting help for yourself and perhaps also requesting help for people who you see who need it or requesting help as an organisation.

You can find out more on our Frequently Asked Questions (FAQ) page.