Bartering – an ancient money-saving idea expands through 21st century technologyNovember 24, 2022
Let’s face it. The cost of a lot of things, particularly groceries and gas, has gone way up of late, leaving us all with a little less in the wallet to buy other things. That’s prompted a number of us to take a look at an old idea – bartering. Save with SPP took a look around to see what people are saying about this ancient take on trading goods and services for other goods and services, without the need for money.
“Bartering is a simple and cheap exchange of goods and services between people,” reports the Moneyless blog. “Bartering is also recommended if you want to live without money or if you want to save money. Bartering is also a fantastic way to get new stuff and it can be a good alternative to the monetary economy,” the blog suggests.
The chief idea of bartering is trading, the blog explains. It’s like “can you fix my computer? Then I’ll fix your curtains,” the article adds. However, thanks to 21st Century technology, the process has moved online.
The blog notes that there are online bartering sites where people offer to exchange “games… audio equipment, TVs or furniture” for other goods or services they specifically need. Some of these sites work with a credit system, and others “one to one,” meaning you trade your chair for someone’s table.
The Budget And Invest blog looks at some of the advantages of bartering. Bartering, the article says, “generates more business” by bringing your items to “a larger pool” of barterers. It also “reduces the cost of doing business” by virtue of it being a moneyless system – unsold items that remain on a store’s shelf, for instance, equate to lost money, the blog suggests.
Bartering helps “conserve cash” since you are trading items and services for the same, and not paying for them, and is “easy” since it has grown from individual dealmaking to online networking.
Forbes cites the example of Melissa Barker, who has launched a bartering business called WE Barker that has “5,000 people involved in 44 industries across 25 cities.”
“At the crux of WE is the bartering system, both small trades like writing a review to big trades like developing a website in exchange for public speaking coaching,” Forbes reports.
Another practical example comes from the Blogging Away Debt blog, which provides the testimonial of a woman named Hope, who has bartered for things like “Tae Kwan Do lessons, homeschool co-op tuition, competitive gymnastics training, and so much more over the years.” She recently bartered for two full weeks of boarding for her seven dogs in exchange for redoing the kennel’s website.
Save with SPP has one fond memory of bartering. Back in the 1980s, we were driving an ancient 1975 Impala around Wainwright, Alta. One day, the engine blew. The mechanic across the street from work said it would cost $2,000 for a new one. Told a friend, he said a national chain might have rebuilt engines for $1,000. Told another friend (happily) about this saving, and he said try a wrecker, could only be $250. Finally, told my friend Don, and he said he and his brother had a car like mine in the barn and could switch out the engines for a case of beer. Now that’s the value of bartering!
The money you save by bartering might allow you to put more dollars in your retirement piggy bank. If you are daunted by saving money in today’s challenging markets, take a look at the Saskatchewan Pension Plan. As a member of SPP, you get the experience of their expert money managers at a very low fee – less than one per cent. They’ll grow your money over your working career, and when it’s time to give back the security badge, SPP can help you turn those savings into a stream of retirement income. Check them out today!