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A time bank is a new and exciting way for people to come together to help others - and help themselves at the same time! It works like a bank account, but using money instead of time. Participants 'deposit' their time in the bank by giving practical help and support to others - then they're able to 'withdraw' their time when they need something done themselves.
Giving and Receiving Time
Everyone's time is valued equally: 1 hour = 1 time credit. Time banks value all the different kinds of help and skills people offer each other. In a time bank, everyone becomes both a giver and a receiver.
Participants can 'spend' their time credits on the skills and support of other participants when they need a helping hand.
Time Banking in Bedford
People help each other out with everything from writing letters, sharing meals and giving lifts to the shops, to DIY and teaching new skills. In fact - anything that brings them together.
It offers help when you need it:
* Busy parents can receive help with the kids, or have a much-needed break;
* Isolated people might appreciate being visited, having trips out, or regular phone calls;
* Less able people can join others on shopping trips or visits to the park;
* Those who hate gardening could have their borders weeded; others might need help moving heavy furniture or getting things from the loft;
* People recently arrived in the area can find new friends and discover a new social life;
* Anyone can learn a new skill, from crafts or wallpapering to sewing or cooking.
Why have a time bank?
"Market economics values what is scarce - not the real work of society which is caring, loving, being a citizen, a neighbour and a human being.’"
Dr Edgar Cahn, founder of international time banking movement
In a market economy, money drives transactions. But a non-market economy doesn't do things by using money - it's a network of support in the form of family, friends, neighbours and community. A time bank is a way to strengthen a non-market economy.
We all need such support, and are quick to notice when things go wrong with the non-market economy! Social isolation, run-down estates, crime, poor health, no feeling of community: these are just a few of the symptoms of an area with poor social connections and few support networks.
It's like a body with a weakened immune system. The protection holding that body together - family, friends, neighbours, community - starts falling apart. It loses its connections. The body needs to be fit and healthy to function and to grow.
We need to strengthen the area’s immune system, by drawing people together and by developing mutual friendships and support.
A time bank is a way to achieve that. It strengthens communities.
A time bank can help to:
* Bring people together in a spirit of equality
* Value and record contributions to community life
* Build an individual’s confidence and skills
* Build organisational capacity
* Build community networks and knowledge
* Get things done that wouldn’t otherwise get done (by time credits)
* Encourage community participation
Who gets involved in a time bank?
Anyone and everyone!
A time bank is open to people of all ages, abilities, ethnic and cultural backgrounds. In fact, a time bank benefits from the great diversity of its participants - it means there's a wide variety of skills exchanged.
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What is Time Banking?
