Saturday, March 2, 2013

The future of bartering for individuals

Individuals have practised bartering for thousands of years. In very simple terms, you exchange goods or services with someone else. Centuries ago, a farmer may have bartered his sheep in exchange for grain from a neighbouring farmer to grow some crops.

The list of items that you could barter really is almost endless. For instance, boats, furniture, works of art, tools, appliances, cars, computers, TVs, vegetables from your garden etc. Just think of the services you could provide and swap such as babysitting, dog walking, running errands, and house keeping.

What if your next-door neighbour had a holiday home and you offered to mow their lawn every week for 12 months in exchange for two weeks holiday in their villa. You may be a plumber who needs a sit-on lawn mower to mow your half-acre lawn so you agree to install a bathroom for someone in exchange for his or her mower. You could offer to iron your friend’s clothes for a month in exchange for two tickets to go to a Coldplay concert.

In all these examples, no money changes hands and, in the current economic climate, that is one of the major benefits of bartering. It is estimated that swapping to the value of billions of dollars takes place every year and it is growing all the time. This is evidenced by the number of websites that have appeared on the Internet to do with bartering such as Bargain Barter. Thousands of individual swapping deals are done every week.

Looking at the example we gave above of bartering your neighbour’s holiday home in exchange for cutting their lawn - normally, if you were going to arrange a holiday, you would either pay for it out of your savings or, if you do not have the money available, probably pay for it on your credit card. You may well have every intention of clearing your credit card balance as soon as you receive your statement so that you do not pay any interest. However, it is quite possible that you won’t clear it and end up paying a lot of interest. If you had done some bartering for the holiday, as referred to above, you definitely would not have got further into debt.

So, swapping really is a great way of helping the family from a financial perspective and with sites like Bargain Barter available to you it can also be great fun getting involved in a variety of swapping deals. You will quickly become experienced in bartering, saving your family a great deal of money and benefiting by obtaining some worthwhile products and services.

Bartering really is a “win, win” situation. Enjoy!

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