When I think of bartering an image of crowded old world markets where everyone has traveled for miles to spend the day trading and haggling for the items they need immediately comes to mind. But bartering is more common in our modern world than you may realize. Remember as kids we traded food items from our lunches for items we thought were better? I have been witness to both of my children swapping various small toys and trading cards and even small Lego pieces with friends. I believe bartering is innate in each of us. Bartering is simply the trade of goods and services without the use of money. But since the invention of currency, bartering is a forgotten option. Yet the ancient practice really is alive and well and can provide benefits especially when inflation saunters in the economy. Sometimes bartering is just plain impractical because it takes too much time, work and sometimes even money, but you will know when bartering is not a fit you. I want to share some ideas and the benefits of bartering. What to trading is as varied as we are people and is up to our imaginations; there are no limits as long as you can find a person to make an exchange with.- First figure out what you want and what you can give. Make a list for both.
- Next create a list of potential trading partners.
- If you are trading for a timely or costly service, put the details of what you expect from each trading partner in writing - be very clear.
- You may want to join a bartering community like this one or a time bank
- Remember the Tax Man. Some trades need to be reported to the IRS when it is tax season, so do your due diligence.
Cheers,
Julie




