Support bartering when feasible and when it is a fair and satisfactory exchange for goods or services. To barter exchange successfully is gratifying; it can be an easy and smooth transaction. This form of trade has been historically documented throughout many eras and in every part of the world. During the modernization of society and the industrial age many have been lulled and programmed into a credit and money reliant system created by big business. Back to the old fashioned way of using a system that has withstood the test of time. Here are some instructions to consider, that can provide the basic principles, on how to barter exchange successfully and save money.
- Set up a strategy, make a list of what you have to offer in product or services. Look at what your needs are in return. Plumbing, carpentry, painting, housekeeping and cooking are popular service areas. Furniture, baked goods, fresh produce, milk and cheese, clothing, jewelry and artwork are popular products and goods that may be successfully bartered.
- Find who is willing to reciprocate in a way that is satisfactory to both parties. There may be several venues nearby or online that offer bulletin boards or even in your neighborhood, by word of mouth. There are certain designated clubs, such as, computer gaming, outdoor equipment, women’s clothing and cosmetics. Don't sell yourself short. Find out if the value of what you are offering is equal to the other's needs. For example: you need your house cleaned for a large dinner party and you are unable to take the time or put in the energy and effort that it would take to make this happen. Your neighbor's friend needs a new bathroom upgrade that your husband can do. This is a basic service for service barter exchange. Both parties have agreed and the actual time for each job does not play into the equation.
- Offer some kind of letter of agreement stating the product or services that both parties have agreed upon and the timelime and closure date for the completion of these transactions. A receipt for both parties should be made and filed away.
- Find out if there are any tax liabilities that you need to be aware of. The IRS offers that the fair market value exchange for services or services for products can be taxable. This can be researched in more detail for your situation on the IRS website.
- Stay on friendly terms.
- Try to get away from and above the failing and poorly run banking system and corporate money ideology and mentality. Be a part of a helpful, communal consciousness that can sustain us plentifully through good and bad.
Tips & Warnings
• Be aware of all of the great benefits and network of friends that barter exchange can bring about.
• Beware of large businesses taking advantage, also those with questionable scruples.