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What is time banking?

Time banking is where time is the principal currency. For example, for every hour you deposit in a time bank, by giving practical help and support to others, you are then able to withdraw the equivalent support when you are in need. In every case you decide what you feel you can offer.

Everyone’s time is equal, so one hour of your time is equal to one hour of another’s times, irrespective of whatever you choose to offer.

Time banks are usually in the local community where local people may use time banking. For example using an hour for an hour. This may typically be a time bank member doing the shopping for an elderly member of the time bank and then using that hour on getting someone to provide support to their child while they are busy.

What are the benefits?

  • Can help some of the most marginalised people feel a sense of self-worth and belonging.
  • Time banking helps to bridge previously unbridgeable divides because it defines people by what they are prepared to do for others.
  • It allows people learn new skills or take advantage of training opportunities.
  • Builds social networks of people who give and receive support from each other, enabling people from different backgrounds, who may not otherwise meet, to come together and form friendships.

To find out more about time banking, visit the Timebanking UK website or email info@timebanks.co.uk or Phone 01453 750952.