How to Barter In The New Economy
Get the stuff you need, bartering with the stuff you already have!
Goods and services are at a premium. Grocery prices are through the roof. Bartering offers a way to get what you need without using cash.
What is bartering and how do you get started?
A barter system is an old method of exchange. Th is system has been used for centuries and long before money was invented. People exchanged services and goods for other services and goods in return. Today, bartering has made a comeback using techniques that are more sophisticated to aid in trading; for instance, the Internet. In ancient times, this system involved people in the same area, however today bartering is global. The value of bartering items can be negotiated with the other party. Bartering doesn’t involve money which is one of the advantages. You can buy items by exchanging an item you have but no longer want or need. Generally, trading in this manner is done through Online auctions and swap markets. Source
What are the Pros of Bartering?
- No cash needed- Items or services are traded, no money needed. For example, a hairdresser might trade haircuts for an accountant doing her taxes for free.
- Flexibility in bartering. For example, trade a lawnmower for a laptop
- Support your local economy. In much of the country, people are out of work. This is a great way to help people get the items they need, without going into debt.
- Keep items out of landfills. This is obviously a big, big problem. Our planet is becoming a huge junkyard. Reduce, reuse, recycle.
- Cut down on clutter in your home. Think of passing on items to other people as a way of clearing out your home too.
- Strengthen community ties. Many times people don’t even know their neighbors. This is a great way to get to know people in your community.
What are the Cons of Bartering?
While bartering has immediate benefits, it can also cause serious complications. This is especially true if you can’t guarantee the trustworthiness of your fellow trader. The other party may not have certification or any proof of legitimacy, and you don’t have a warranty or consumer protection advocate when you barter. You may end up trading a good item or service in exchange for a defective or poor one. If this concerns you, limit your exchanges to friends and family.
Bartering also requires skill. You may overestimate the value of your desired item and underestimate yours. As a result, the other party could exploit you. To prevent this, focus on related items with similar value, such as one large appliance for another.
- Trustworthiness of the other traders
- It takes a lot of time to set up barters
- Collecting items to trade
If you want to go more online, here are 7 websites to barter online:
Here are some examples of bartering:
- A writer creates a resume in exchange for an oil change
- A makeup artist trades a makeover for new tires for their car
- A gardener trades a dozen tomatoes and zucchini for a bunch of gently used clothing
- Someone has a collection of new holiday decorations. They trade them for a few cases of pet food.
- A baker makes 2 dozen cupcakes in exchange for their grass mowed.
The sky is the limit! There are so many options when it comes to bartering.