Is it OK to have a negative balance?

In a word, yes.

In our timebank, we offer the opportunity for people to earn Time Dollars (TD$) for attending an orientation, filling out an application, and completing their online profile. That means members start out with currency and, we hope, are inspired to jump right in and start trading.


As our user agreement states, we ask that members participate in both giving and receiving services on a regular basis because a healthy economy depends on circulating currency.

On occasion, though, we end up in circumstances where we come up a little short. Maybe we make arrangements for a trade that we think will use 4TD$ but it actually takes 5 hours to get the job done, and we only have 4TD$. Or perhaps we get injured and can't earn TD$ for a time, and we end up spending all we have to get help. However it happens, we can end up with a TD$ balance that is negative.

There is NO PENALTY for this. A timebank isn't like a regular bank. We are not a money-making entity. We do not charge overdraft fees.

Each timebank handles negative balances differently; in Time Trader, the Coordinator may contact you after you reach a -5TD$ balance. This would be a reminder call, perhaps with a few suggestions of how you can earn a few TD$ to move you out of negative territory. But the negative balance is not necessarily viewed as a negative thing in the timebank; in Time Trader, a negative balance is simply viewed as a commitment to the timebank. If you carry a negative balance, the timebank trusts that, since you have benefited from the collective skills and talents of the timebank, that you will share your skills and talents with the timebank and eventually bring your account into balance again.

If you find yourself in a situation where you need more TD$ than you have in your account, please contact the Coordinator. We do have a Community Fund to help people in cases like that, and it is partly filled by donations from the community. So if you have a LOT of TD$, you can donate them to the Community Fund at any time. Use the regular "Record an Exchange" feature in the "Give and Receive" tab in Community Weaver or contact the Coordinator.

What if I offer something and I get more requests than I can handle?

This is much easier to handle than it sounds.

We have had situations in the past where Time Traders have been overwhelmed with demand for their services. Unfortunately, this has led to the loss of those members and their in-demand services.

One example of this was massage. Many people need and want this service, and since massage can be very expensive, using TD$ makes it affordable for our members regardless of their economic status.

Our Time Trader made a living doing massage, and had the usual expenses associated with running a business; rent, utilities, and other overhead costs. While receiving Time Dollars (TD$) for the time the massage takes is fine, TD$ does not pay the rent. (That's why we refer to TD$ as a complementary currency -- it complements the main currency but does not replace it.) It was difficult for this Time Trader to retroactively place limits on the number of massages offered, and so the offer was removed in order to allow massages for U.S. Dollars (USD) to fill her time.

What does this mean for you? Well, we learned some very important lessons that, we hope, make the timebank work better for everyone.

First, YOU set the limits for your offer. You can choose to limit in the offer itself (recommended) or you can limit as you receive requests for your service. If you make your living doing this service, you can offer an introductory lesson, massage, session or whatever for TD$ and ask that continuing customers pay USD. You can limit the number of services you will offer per month for TD$; for example, "I will do 2 photographic sessions per month for TD$. You may book up to 8 weeks in advance." You could limit the number of times a person can use the service in a specified time frame: "You may pay for one massage every 3 months with TD$. Other massages during that time will be for USD." or "You may use this offer once every 6 months to allow for as many people as possible to utilize the service."

In the orientation, we try to stress that YOU as the Time Trader have the control; you choose what to offer, you arrange exchanges at your convenience, and you have the right to refuse an exchange at any time. Time Trader is meant to be an asset in your life, not a burden!

If you have questions about posting offers or how to limit them, please contact the Coordinator and she will be happy to assist in creating a service ad that works for you. And, of course, you always have the right to re-word or remove an offer.

Right now we are in need of massage therapists, handyman/do-it-yourself types, and photographers. Do you have those skills or know someone who does? Remember that you earn 1TD$ for each person you refer who becomes a member. Building this community means more skills and talents to take advantage of, and that benefits all of us. Just tell people you can "give what you want, get what you need!"

Timebanking and Babysitting Co-ops

Are you interested in starting a babysitting co-op?

They can be a great alternative to spending money on babysitters. A group of friends or acquaintances can form a cooperative where parents trade child care. Various systems can be used to track the hours spent and earned; coupons are the most common.

I started a babysitting co-op when my children were small. We had member agreements, laminated coupons that we exchanged, and an open system where we used the phone and email to let people know we were in need of a sitter or were available to care for someone's children.

It worked remarkably well, but it died off as our children got older and were involved in more activities. Now my children are old enough to babysit for others!

Time Trader can be a part of a babysitting co-op; you can join the timebank along with one or several friends. We do a background check, and if you choose, you can exchange child care only with friends you already know. The beauty of Time Trader is that we already have all of the framework in place; you don't have to come up with member rules or agreements, or create coupons or another system for tracking those hours; Community Weaver does it all for you!

A bonus of timebanking is that it is open to people of all ages. Now that my kids are older I would love the opportunity to care for small kids again, and give parents a break. Within the timebank, as you get more comfortable, meet more people, and develop trusting relationships, your options for childcare expand.

Many of us live far from family members, and a timebank can help you weave a community that can offer support and care -- having a "grandma" nearby can be a wonderful thing for a child, and for that "grandma."

For additional information on Time Trader or on babysitting cooperatives, contact the Time Trader Coordinator. We would love to help you give what you want, get what you need!

I'm not active in the timebank because ...

We are going through our membership right now, checking in with people who have not yet logged in to our "new" system.

Why the quotation marks? Well, it has been almost a year since we changed over to our new software. Does that surprise you? 

Just in case you need the link, that software is accessible at www.timetrader.timebanks.org.

And yet, a significant portion of our membership has not accessed the new site, despite emails, blog entries, and numerous requests for them to do so.

Why is this so hard? I don't know. In fact, I would love it if you have a response to that question. Please feel free to leave a comment. The feedback will help me improve in my job performance. Part of my job is to make Time Trader and its software, Community Weaver, user-friendly. I don't have a lot of control over how the software functions, but I am available to help people navigate through it. I just don't get many requests for that help. Instead, people don't log in, and when they are asked, "Why haven't you logged in?" or "Why have you not been active in Time Trader?" they offer answers like:

• No one has contacted me for my services.
• I'm just too busy.
• I need help with things in my own life; how can I help others?
• I don't know anyone in the timebank and am uncomfortable contacting people I have never met.

Let's take those responses one at a time and see what we can do about them.

First, if no one contacts you for the services you've offered, switch it up! Offer something different. Contact the Coordinator to see if she can help you come up with some different offers. Contact another Time Trader for writing help in spicing up your listings, making them more interesting or adding some flair to the wording.
Next, think about things you could use yourself, and see if someone out there is offering a service you need. Many Time Traders think of this as a "give only" equation, but the community only functions well when we are all giving and receiving services, keeping the currency flowing.

Too busy? That is a common problem in today's world. But instead of stopping there, think about how the timebank can make your busy life simpler. Perhaps someone can make some freezer meals for you, to use on those REALLY crazy days. Or maybe you could find someone to help you tackle that overwhelming organizational project in the basement -- or just someone to watch the kids while you tackle it.

The third one can be solved just like the second -- if you need things, look to the timebank FIRST. If you can get the help you need without spending money, maybe you will free up some time to earn more time dollars (TD$) and make someone else's life easier in the process. How's that for a win-win situation?

The last concern is valid, but here's the simplest solution. Find a friend and invite them to join Time Trader. You will earn 1TD$ when they become a member, and you will have a friend you trust in the timebank. You can exchange child care or business services, home maintenance or baking -- think of all the people you know who have skills you need! Maybe a talented DIY household repair person, a massage therapist, an accountant, a skilled mechanic -- the possibilities (and the needs) are endless!
The next solution to the "I don't know anyone" dilemma is to attend a member event. Share a potluck meal, attend a class, meet other Time Traders, and have a conversation about what you need and what you can offer. Many exchanges are born from conversation at member gatherings where people are just chatting, and suddenly they discover that they can help each other out with installing or fixing computer components, configuring home theater systems, and much more.

Please contact the Coordinator at timetrader@familyservicerochester.org for more information or assistance with the software or anything else.

And stop in at our birthday open house this Friday -- details are in your email inbox, and we'd love to have you!

Community Weaver Software Update TONIGHT

A series of improvements will be made to Community Weaver tonight: September 6th, 2012. The site will be down on Thursday, Sept. 6th beginning at Midnight CDT Thursday and continuing until approximately 2 AM Friday morning. If you are in the habit of checking CW late in the evenings you will be unable to log in at this time.

The updates that are being installed are the first set in a series and will mostly be things that affect the Coordinator's view and functionality of the site. I will do my best to let you know if I make any changes after that that will affect you or how you use the site. Changes you will see: the member roster will be sorted alphabetically. Service ads will be sorted by category, then by date posted.

Additional changes will be installed about every 2 weeks and I will do my best to both warn you that the update is coming and let you know what you can expect to see.

There WILL be some things that you need to do periodically in Community Weaver to make sure that your information is correct and being shared according to your wishes. I will let you know when to make updates or check things, and give you instructions as to how to do them. It will be simple stuff in your Profile and Account information, but it will be important that you follow instructions so that the community functions online as it is supposed to. Your cooperation, patience and understanding as we go through this process will be much appreciated.

Whose responsibility is it to record hours?

It's a question I get fairly often -- who records the hours after a transaction (also referred to as an exchange) has taken place?

The answer is ... either one of you.

As you end the transaction and say goodbye after you've raked someone's leaves or they've helped you set up your new printer, just ask, "Would you like me to record the hours in Community Weaver?" Make the arrangements then, and then there is no question about whether it will get done.

Remember that transactions need to be recorded by the 7th of the following month, so that they are included in the monthly numbers that are sent on to the FSR Board. If you have an ongoing project where someone earns TD$ each month for several months, recording them all at once throws off the numbers for a month OR, if you still record them as separate transactions, adds numbers to months whose reports have already been finalized and presented to the board. In that case it is almost like the transaction never happened, because we do not go back and re-do reports.

Either of the parties involved in the transaction may record it. Both parties should receive a notification email that details the transaction, the hours exchanged, and the date the exchange took place. If anything looks wrong to you, please don't hesitate to email timetrader@familyservicerochester.org to ask the Coordinator to look it over and make any necessary changes. We can edit transactions easily, and in almost 4 years there has been no case where a Time Trader recorded a transaction and was deliberately dishonest, although mistakes have been made by accident. In each case, the mistake was easily rectified and new emails sent by the system to indicate that changes were made in the transaction.

Bottom line? SOMEBODY needs to record the hours in a timely fashion. If, for some reason, you thought that your trading partner was going to do it but they haven't, follow up. Check with them. Or just record the transaction yourself. It is important that hours be recorded and included in the month in which the transaction occurred. I know I sound like a broken record, but ultimately, it is the NUMBERS that tell our story, so your cooperation in ensuring that transactions are recorded is much appreciated.

As always, if you have further questions about this, or about any issue within the timebank, contact the Coordinator at timetrader@familyservicerochester.org .

Resources

I just realized that I have never posted the titles of the books that I have found helpful as a time bank coordinator. The first 2 are by the founder of time banking, Dr. Edgar Cahn. The last was brought to my attention during the Coordinator Calls that TimeBanks USA holds twice a month, and it has been very helpful in understanding the challenges that many timebanks face because of their inherent structure.

Time Dollars: The New Currency That Enables Americans to Turn Their Hidden Resource – Time – into Personal Security & Community Renewal by Edgar Cahn, Ph.D., J.D. and Jonathan Rowe

No More Throw-Away People: The Co-Production Imperative by Edgar S. Cahn

The Starfish and the Spider: The Unstoppable Power of Leaderless Organizations by Ori Brafman and Rod A. Beckstrom

If you have other titles that have been helpful or that address time banking and the issues surrounding time banks, please feel free to add them in a comment here or send me an email.

Are Time Dollars Taxable?

Great question. The short answer to this is no. The IRS has issued a ruling on Time Dollars (TD$) that says they are not taxable.

But.

(You know there is almost always a "but" in these instances, right?)

But. Time Dollars (TD$) could be taxed, if the IRS saw that there was an equivalency being made between TD$ and US dollars (USD). For example, if my offer said, I will babysit your child for 1TD$ per hour or .5TD$ and $2 per hour, that would be equating Time Dollars with US Dollars. If an equivalency is established, the transaction is considered taxable by the IRS.

In a timebank, the currency is ALWAYS time. One hour is equal to 1TD$. Simple. Of course, you may also charge people for costs you incur in fulfilling a request, but you may NOT charge them anything but TD$ for your time.

For example: Time Trader Susan asks Time Trader John to bake a dessert. John can ask for money (USD) for ingredients. Susan can reimburse him, they can shop together and Susan can pay for the ingredients, or Susan can buy the ingredients using a list John provides her and John can use them to make the dessert. The method in which John is remunerated for the cost of the ingredients is not important as long as both Time Traders agree with it. Susan then pays John TD$ for the time it took him to prepare the ingredients. If the parties agree to it, she may even pay him TD$ for the time he took to shop for the ingredients, but the only USD that are exchanged are for the ingredients.

One more example: Time Trader Elizabeth needs a faucet installed. Time Trader Sam says he can help. Again, the person requesting the service is responsible for the costs associated with equipment and materials for the service, so Elizabeth purchases the faucet and materials needed, and Sam does the installation. Sam then is paid TD$ for the time it took him to do the job.

The same goes for scrapbooks, jewelry making, or any other service: if materials or ingredients are needed, the person receiving the service is responsible for those costs, but the way those costs are handled, as long as both participants in the transaction agree, is immaterial in the eyes of the timebank or the Coordinator.

Again, our currency is time.Our economy, like any economy, is healthiest when the currency moves freely between people. So get out there and make some exchanges. Do something for someone else. Find a service and try it out, just for fun.

But make sure you are only dealing in TD$. Don't establish an equivalency with US currency, because then your transaction, like a bartering transaction, could be considered taxable by the IRS.

The Community Fund

Time Trader has a Community Fund that is listed just like any other member of the timebank. It was established at the very beginning and was originally envisioned as a place where members could donate TD$ and other members could draw from in times when they were unable to earn TD$.

It has worked that way in some cases, when a member had an injury and needed a lot of help. Once the TD$ in their account were used up we turned to the Community Fund to help them receive services they needed until; they recovered.

We have found, however, that the Community Fund serves another purpose; it serves the larger community. Other agencies are learning about Time Trader and they are beginning to turn to us when the need a client has is outside the realm of the agency. In one instance, a woman needed to mow the lawn of her rented home but her lawn mower was broken. Her landlord was expressing concern and she did not have the money to have someone fix the mower or pay someone to mow for her. Time Trader was contacted and a member agreed to bring his mower to her home. Her lawn was mowed, and, as a bonus, the Time Trader was able to repair her mower with a $5 part, which he simply gave to the woman. There is really no other group or agency that could provide that service quickly; despite the fact that many people in our community would likely be willing to perform a service like that, there is no place other than Time Trader that can connect someone who needs a service with someone who is able to perform the service.

In another instance, a person who was new to the community had rented a home that proved to be unsafe. He was recovering from surgery and was unable to move, and for a variety of reasons, his move had to be accomplished quickly. Another community agency contacted Time Trader, and some volunteers went and assisted with the move. Again, this kind of service falls outside of what most agencies can provide.

In situations like this, the request will come through Community Weaver and it will be clear the person is not a member of Time Trader but that the TD$ earned will come from the Community Fund. Often people from the referring agency will be involved in the transaction as well. People who receive this service may later join Time Trader, going through the same orientation and background check as any other member, but if they do not join Time Trader they have no access to any information in Community Weaver.

This is a very important service Time Trader can provide for the Community, and we welcome inquiries from agencies. We are always open to discussion of one-time services as well as organizational partnerships.

Time Trader Spotlight: Jennifer C.'s etched glass

From time to time I like to spotlight a Time Trader's skill or talent. Often people have many things they offer in Time Trader, but this feature typically focuses on one particular thing.

Today that thing is glass etching. Jennifer offers a number of creative, crafty things -- she will teach you how to scrapbook, or make a custom scrapbook for you, for example -- but our focus today is on taking a simple piece of glassware and turning it into a treasure.

This is a simple heart-shaped glass bowl. Look how Jennifer turns it into something really special:

She adds the abbreviation for a local high school by etching it into the glass using a stencil and a chemical solution. The other side of the bowl says "Class of 2013." (She's already a year ahead! I should be so organized.)

 And here is one more item -- a wonderful wedding or shower gift. How convenient to have a baking dish with your last name on it -- it's the perfect thing to bring to a Time Trader potluck! And you know you'll always get it back.

And here's a hint from me: there are lots of glass items at the Dollar Store; vases, wine and martini glasses, serving bowls and platters, even individual dinner plates. Just think: for a dollar and a TD$ or two, you can give a memorable, personalized, one-of-a-kind gift.

Thanks for sharing your skill with us in the spotlight, Jennifer. You have earned a TD$ for helping me out.

Any Time Trader can be spotlighted. Contact me with your skill or about a skill another Time Trader has, and if I post the spotlight on the blog you can earn a TD$, too.

Group and Organizational Members of Time Trader: RNeighbors

RNeighbors is a neighborhood resource center that offers support and information to neighborhood associations. Such a simple explanation, but there is so much they do that is simply about community beautification, community building, and community involvement.
Since our missions and ideals dovetail so well, Time Trader and RNeighbors have been partners for quite some time. In 2012 we have been working on ways to strengthen our ties and benefit both organizations.
Time Traders can earn TD$ from RNeighbors by participating in projects like those mentioned above, and RNeighbors earns TD$ by linking to Time Trader on its website and allowing Time Trader the opportunity to have a table at some RNeighbor events to promote out timebank to people who are already generous and deeply involved in community -- exactly the kind of people who can make Time Trader stronger, more diverse, and better.
If you want to learn more about RNeighbors and how you can get involved OR if you have ideas about how to expand our relationship with any of our Group and Organizational Members, post a comment here or contact Jennifer at timetrader@familyservicerochester.org.

Group and Organizational members of Time Trader: The Farmers Market

Or, as it's officially known: Rochester Downtown Farmers Market.

Obviously this partnership is more active in the summer months, although the market does happen year round. Time Traders have earned TD$ from the Market for helping out at the information booth and staffing some special events like a children's day and home canning demonstrations.

The Market, in turn, earns TD$ by hosting an information table (staffed by a Time Trader) at the Market on Saturdays and from referral TD$ from people who become Time Traders after hearing about it at that table.

If you are interested in earning TD$ at the Market, please contact Jennifer to find out what you can do!

Group and organizational members of Time Trader: The Y

We partner with a number of community groups and organizations, and many people are unaware of these partnership or how they benefit all of the members of Time Trader. In this and a few future blog posts I am going to list our current partners and comment just a little on how each partnership works, since each organization is different and we try to use that to our advantage, tailoring each agreement to the organization so that we maximize the benefits to each of us.

First, our biggest partner in terms of the number of transactions per month: The Rochester Area Family Y. The Y has been a steadfast partner for us, offering support in the form of people and space, since the beginning. Many of our member events are held here, such as the potluck we had last night. The Y also offers us space for our monthly Leadership Team meetings, orientations a few times a month, and, if a Time Trader wants to earn an extra TD$ or two, they can sit at an information table in the Y and hand out brochures telling people about Time Trader and how to join. When we use the Y's space, it earns TD$. We cross-promote each other. Y employees have been active Time Traders in their personal lives and their professional lives. One of the organizers in Time Trader helped a Y employee out with her office. Another went through the piles of mail, office documents and other papers for a Y employee to sort by type and then recycle or file it. How many of us could use that in our own workspace?
The Y sometimes needs volunteers at events, or handyman-type projects such as painting done. These are a great way to spend TD$ and reap the rewards of all the great work they do for us. So if you are ever approached in Community Weaver about a project the Y needs done, please consider helping them out. They are a huge part of Time Trader's success over the past 3 and a half years!

Services wanted: Can you do that?

I just took a quick look through our Service Requests and I thought I'd take this chance to highlight a few things Time Traders need right now:

• someone with a good singing voice
• a guitar teacher
• someone with a camera who can play paparazzi at an event
• someone to do light house cleaning
• a Spanish tutor
• someone to do babysitting and/or playdates
• motorcycle mechanic
• Macbook help wanted
• Irish fiddle lessons
• vocal lessons
• turn a kid's vocal, household item, and body-created noises into a musical, lyrical, rhythmic, or in some other way pleasing sound for his often captive audience to experience

Can you do any of these things? Do you know someone who can?

Please note -- while some of these things could be accomplished by someone who has themselves had training or lessons in the skills, many of them also can be done by a hobbyist. Love to tinker on motorcycles and cars? Maybe you could help with the motorcycle. Have a camera that doesn't get much use? Get out to the paparazzi event and perhaps it will motivate you to start taking photos again. Were you one of those kids who was constantly making sound effects and noises with paper towel tubes and rubber bands or testing out cartoon sound effects with your voice? Maybe you are the person who can help that frazzled mom.

Please make a habit of checking in on Community Weaver periodically to see what requests you may be able to fulfill, and don't forget to put your own requests and offers out there. We are working hard to increase utilization of Time Trader this year, but we can't do that unless you are living up to the terms of your agreement, to both give AND receive services regularly. This community is only as strong as its members' relationships; what are you doing to build community for all of us?

Need help? Wondering what to do next? Email timetrader@familyservicerochester.org or visit www.timetrader.timebanks.org, log in, and get started trading!

Time Banking - Prosperity Without Cash

The title is taken from a CBC radio broadcast that features an interview with Dr. Edgar Cahn, the founder of timebanking and TimeBanks USA.

More news about timebanking!

We are always happy to see news organizations sharing information about timebanking! Check out this article from AARP magazine.

Another source of information and inspiration

Check out this video about the Lathrup Village Timebank. It is a wonderful example of how a timebank works and what the philosophy behind timebanking is.


That is on the Timebanks USA (TBUSA) YouTube Channel. To see more videos from TBUSA, visit their channel here. You can even subscribe to the channel so that you get updates and notifications of new videos when they are posted.

Are you a Time Trader with video experience? Have an idea for a video that we can showcase our timebank in? Let the Coordinator know -- you could earn TD$ doing something you love!

Testimonial #2: L Coming together, weaving community

Last week a Time Trader let me know she had fallen and broken some bones in her right foot. As a result, she can't drive, can't shovel snow, and needs help with a number of basic things. I advised her to write some requests and post them on Community Weaver, and I featured some of them in the Service Update email that went out at the end of the week.
I received this email Saturday, and I wanted to share it with the community:

Hi Jennifer,

Time Trader is such a fantastic resource...... and there are good people everywhere.  I guess we never know when we will find ourselves in need of help/assistance from others.  I love making connections with others in my own community.

Friday was my first day back to work and J. brought me home at 1.  A. moved my snow Friday afternoon and said he will continue to do so.  He called before coming over and asked if he could pick up any groceries, but my neighbor had taken care of that.  I just might adopt him as my MN son since my own lives in Chicago.  K. is taking me to St Marys for x-rays early Monday morning and said she can drive me more places since she only works 4 days a month.  My neighbor is able to drop me off at work in the mornings next week and different UW employees are taking me home. 

I'll begin working on transportation for when my office moves on the 30th.  First, I'm going to call the receptionist in that building next week and find out if anyone who lives near me works out there.

A. offered to work on a banner for my Etsy store, also.

Forever grateful,

L.

Thank you, Time Traders! This is exactly what this community is all about, and I could not be more proud and grateful to be a part of it.

Really Really Free Market

The Really Really Free Market will be held on Sunday, January 29 from 3-6 PM at the Barlow Event Center, 1151 Civic Center Drive NW. Bring clean, usable items to give away. Take usable items for free. It's that simple! If you have old clothes, CDs, electronics, household items, food...etc. bring them down to the Free Market. Once the event is over, any remaining items will be donated to one of the local second-hand outlets.

Invite your friends! This is the type of event that brings communities together, and ultimately shows us that we can move beyond the need for money to obtain the things we need.

There will be a Time Trader orientation from 4:00 to approximately 5:00 PM. This is also a great opportunity to talk to other Time Traders to discuss your Service Offers and Requests, and maybe even set up a trade.

**PLEASE DO NOT BRING BROKEN, UNUSABLE JUNK**

Really Really Free Market

The next Free Market event will be Sunday, January 29 at the Barlow Event Center from 3 to 6 PM.

Really Really Free Market Update

The next Really Really Free Market event is tentatively scheduled for Sunday, January 29. No location has been confirmed thus far. Please check back here for further details.