Everybody knows ETF’s but only a few of us know abut ETS’. In fact, in this moment where everything is going upside down and we don’t know exactly who will keep their job or not and what will be the next effect of bad financial news, Exchange and Trade Systems could become the ultimate solution to solve your money problems. In fact, those systems can help you out living a more frugal life and save a lot of money.
Exchange and Trade Systems are still very marginal and kind of “underground”. We don’t see much advertisement and people that are running those are too busy coordinating everything to promote their vision.
Because a ETS is a vision. It’s the possibility of having a community where people help each other and use their talent for the profit of someone else for no money in return. I believe we are going to hear more about these communities in the future as our economy is seriously slowing down and we can’t keep spending as we are right now.
How does it work?
There are variations from one system to another but the whole community is based on a simple principle: exchange your talent for something else in return as long as it is not money. For example; since I am a financial planner, I could go see a family inside the community and do a financial plan and help them doing a budget. Let say that I spend 2 hours of my time with them; I get a credit of 2 hours in my “account”. That gives me the right to ask anybody in the community for 2 hours of his help, regardless of his profession or talent.
Each task is considered in term of hours or credit. On a hour basis system, I noticed that most of them consider any task as equal. For example, someone could help me out cleaning my house for 2 hours which would worth about $30 (we usually pay cleaning ladies at $15/hr around here) and she could request 2 hours from a plumber to do some repairs (which would obviously worth more than $30 if you have to pay the plumber). When they work on credit, each community can establish a value to each task. However, in order to keep it simple, most people agree to give 1 credit per hour to everybody.
The major advantage of such communities is to be able to trade your time instead of money to have stuff done. So it’s like having all the talent in the world and only taking the time to do everything by your self.
So if you are ready to take time helping other people, you could save a lot of money in returns. Everybody wins and it helps creating a good atmosphere with people around you.
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