Frequently Asked Questions
What can Time Banking do for me? TimeBanking does many things for different people. Here is a short list of some ways people have used TimeBanking to achieve their goals across the world:
If you like to volunteer and give time to your community, TimeBanking is a way to get something back in exchange for your time.
If you want to build a network of support within your neighborhood or community, TimeBanking can help you do exactly that. Instead of paying professionals to look after your children, care for your aging parents, and do the work that family and neighbors used to do for one another, the members of your TimeBank can do those things for each other. TimeBanking creates connections through sharing skills.
Why should I care and what is so special about TimeBanking?
Many folks are looking up from their busy lives and wondering if something essential hasn’t gone missing. Is the nuclear family enough to feel fully alive?
Some of us can remember a time when family members lived close by each other and we knew most of the people living in our neighborhoods. Some of us have only heard about it.
Helping each other out was a given, something we did for each other every day. From watching someone’s kids for a few hours, dropping off meals for a sickly neighbor to potluck suppers and barn raisings, communities were full of exchanges and mutually supportive networks of family and friends.
Few people would disagree that times have changed, that these networks are gradually disappearing and few of us have family members nearby or neighbors we know well enough to turn to for support. There are so many things we do that would be more efficient, fun, and meaningful when shared.
What services can I buy with Time Dollars and what can I do to earn Time Dollars?
The list of possibilities is endless. From walking a neighbor's dog, oiling a squeaky door, raking leaves, stuffing envelopes, braiding hair, cooking meals, giving music lessons, running errands to lending professional advice, everyone in a TimeBank has a valuable skill to share.
Isn't this just one more thing that's going to eat up my extra time?
Not unless you want to give extra time! Many of the services people exchange in a TimeBank are the types of things they are already doing every day. For example, those of us who have children are already cooking for them, driving them to activities, and helping them with their schoolwork—among other things. Cooking an extra portion of food for someone down the street who is housebound, picking up your neighbor's kids on the way to soccer practice, or helping the child down the street with his homework doesn't add work to your day. Or, if you have a dog and take it for a walk every day, why not pick up your neighbor's dog along the way?
For professionals like doctors, lawyers and business people, TimeBanking is a way to give back to your community without having to go someplace else on someone else's schedule. For example, you can just set aside 10% of your appointment calendar for TimeBank members.
Even better, TimeBanking helps you gain extra time because down the road, you can spend the Time Dollars you've earned and have someone else do something for you that you can't fit into your schedule or simply don't know how to do!
How exactly does it work?
When you spend an hour to do something for an individual or group, you earn a Time Dollar. Then you can use that Time Dollar to buy an hour of a neighbor’s time or engage in a group activity offered by a neighbor.
Why is everyone's time given the same value?
At first glance, it seems crazy that someone is paid the same for web design and pulling weeds, but this turns out to be the core of what makes Time Dollars really work. In the “Yin” or “caring economy” everyone’s time is valued equally – just like it is inside a family. You wouldn't ask your cousin to give you two hours of dog walking for every hour you spend fixing his computer.
Putting a price on people's time separates us by making some people more valuable than others. Time Dollars excel in building relationships because they place an equal value on everyone’s time.
Time Dollars aren’t meant to replace standard dollars. They are designed to counterbalance the market economy where people may have invested in special training to make their time more valuable. There’s nothing wrong with that, it’s just taken over too much of our experience of the world. Almost everything is monetized. We are building a parallel economy where people take care of each other as families. We build extended families by geography, not bloodlines.
Isn't TimeBanking like bartering?
It is, but the big difference is that you don’t have to pay back the person who does you a favor. It is a “pay-it-forward” system. That’s one of the reasons why people find it so much easier to do things for others in a TimeBanking system. You don’t have to figure out what to give back to the person who helped you. You can choose how to pay it forward doing what you want, when you want.
Can you buy or sell things with Time Dollars?
Yes, and many TimeBanks do sell things. In general, most TimeBanks follow a simple formula for selling things. You charge for the hours it takes to produce something in Time Dollars, and charge the cost of the materials in regular dollars.
The important thing to remember, however, is that in order to maintain the Time Dollar tax exempt status, you can never make an equivalency between a Time Dollar and regular dollar.
What if I am trying to reach another member for a request or service and they do not respond?
First of all, make more than one effort to reach them as not all people check their email daily. Even less log into Community Weaver daily, so try making a phone call to their preferred and alternate phone numbers, as listed. Still not getting a response? Then PLEASE let one of the TimeBank Coordinators know, so they can investigate whether the person you are trying to reach is truly available, or may have new contact information. Remember, we all agree, as part of our membership, to respond within two days to TimeBank related communications, but the reality is that people get busy with work and family and travel and may not always have the TimeBank at the top of their life's priority list. So, don't get discouraged, just speak up to your TimeBank Leadership and we will do everything to resolve your issues!
Who runs the TimeBank?
Arroyo SECO Network of Time Banks is lead by the members. Currently we cover thirteen neighborhoods, Pasadena, Altadena, North East Los Angeles, Echo Park, Silverlake, Los Feliz, Glendale, Lincoln Heights, Boyle Heights, Downtown Los Angeles, Westlake, West Adams and Koreatown. Each neighborhood has a leadership team. Learn more at the About Neighborhoods link. Consider joining your local nurture committee. The Arroyo S.E.C.O Network of Time Banks is a project of Arroyo S.E.C.O.
How do people connect to each other?
People either connect to each other online via our TimeBanks web software or through their local Coordinator or matchmaker. You can post a request for services online or call your Coordinator to ask them to make a match for you. Because our Coordinators are volunteers and not paid staff, they really like people to find and make their own exchanges but are happy to help if assistance is needed. You can also attend a group event or potluck to meet members face to face. We also have a list serve.
What kinds of people join TimeBanks?
Everyone can join a TimeBank and all kinds of people do.
Can I trust the people in a TimeBank to come into my home?
If you have any doubts, please do not accept the person’s offer to help. Our TimeBank does not currently do background checks. It is up to each member to get to know and feel comfortable with another member coming to his/her house. If you have a question about a member, the Coordinator may be able to give you some information. Attending potlucks or group projects are a good way to build trust with your fellow members.
Consider saying no to a trade if:
What happens if you go into debt?
Having a negative balance is OK. Debt is not an issue in the Time Bank. The most important thing is that the Time Credits are flowing and people are getting their needs met. The accounting is less important then the relationships that form.
- Neighborhood renewal
- Community safety
- Health improvement
- Mutual support for single parent families
- Peer self-help, especially young people
- Involving older people as active citizens
- Integrating people with physical and learning disabilities
- Respite for caregivers
- Intergenerational understanding
- Community colleges
- Residents participation
- Environmental clean ups
- Rehabilitation of substance abusers
If you like to volunteer and give time to your community, TimeBanking is a way to get something back in exchange for your time.
If you want to build a network of support within your neighborhood or community, TimeBanking can help you do exactly that. Instead of paying professionals to look after your children, care for your aging parents, and do the work that family and neighbors used to do for one another, the members of your TimeBank can do those things for each other. TimeBanking creates connections through sharing skills.
Why should I care and what is so special about TimeBanking?
Many folks are looking up from their busy lives and wondering if something essential hasn’t gone missing. Is the nuclear family enough to feel fully alive?
Some of us can remember a time when family members lived close by each other and we knew most of the people living in our neighborhoods. Some of us have only heard about it.
Helping each other out was a given, something we did for each other every day. From watching someone’s kids for a few hours, dropping off meals for a sickly neighbor to potluck suppers and barn raisings, communities were full of exchanges and mutually supportive networks of family and friends.
Few people would disagree that times have changed, that these networks are gradually disappearing and few of us have family members nearby or neighbors we know well enough to turn to for support. There are so many things we do that would be more efficient, fun, and meaningful when shared.
What services can I buy with Time Dollars and what can I do to earn Time Dollars?
The list of possibilities is endless. From walking a neighbor's dog, oiling a squeaky door, raking leaves, stuffing envelopes, braiding hair, cooking meals, giving music lessons, running errands to lending professional advice, everyone in a TimeBank has a valuable skill to share.
Isn't this just one more thing that's going to eat up my extra time?
Not unless you want to give extra time! Many of the services people exchange in a TimeBank are the types of things they are already doing every day. For example, those of us who have children are already cooking for them, driving them to activities, and helping them with their schoolwork—among other things. Cooking an extra portion of food for someone down the street who is housebound, picking up your neighbor's kids on the way to soccer practice, or helping the child down the street with his homework doesn't add work to your day. Or, if you have a dog and take it for a walk every day, why not pick up your neighbor's dog along the way?
For professionals like doctors, lawyers and business people, TimeBanking is a way to give back to your community without having to go someplace else on someone else's schedule. For example, you can just set aside 10% of your appointment calendar for TimeBank members.
Even better, TimeBanking helps you gain extra time because down the road, you can spend the Time Dollars you've earned and have someone else do something for you that you can't fit into your schedule or simply don't know how to do!
How exactly does it work?
When you spend an hour to do something for an individual or group, you earn a Time Dollar. Then you can use that Time Dollar to buy an hour of a neighbor’s time or engage in a group activity offered by a neighbor.
Why is everyone's time given the same value?
At first glance, it seems crazy that someone is paid the same for web design and pulling weeds, but this turns out to be the core of what makes Time Dollars really work. In the “Yin” or “caring economy” everyone’s time is valued equally – just like it is inside a family. You wouldn't ask your cousin to give you two hours of dog walking for every hour you spend fixing his computer.
Putting a price on people's time separates us by making some people more valuable than others. Time Dollars excel in building relationships because they place an equal value on everyone’s time.
Time Dollars aren’t meant to replace standard dollars. They are designed to counterbalance the market economy where people may have invested in special training to make their time more valuable. There’s nothing wrong with that, it’s just taken over too much of our experience of the world. Almost everything is monetized. We are building a parallel economy where people take care of each other as families. We build extended families by geography, not bloodlines.
Isn't TimeBanking like bartering?
It is, but the big difference is that you don’t have to pay back the person who does you a favor. It is a “pay-it-forward” system. That’s one of the reasons why people find it so much easier to do things for others in a TimeBanking system. You don’t have to figure out what to give back to the person who helped you. You can choose how to pay it forward doing what you want, when you want.
Can you buy or sell things with Time Dollars?
Yes, and many TimeBanks do sell things. In general, most TimeBanks follow a simple formula for selling things. You charge for the hours it takes to produce something in Time Dollars, and charge the cost of the materials in regular dollars.
The important thing to remember, however, is that in order to maintain the Time Dollar tax exempt status, you can never make an equivalency between a Time Dollar and regular dollar.
What if I am trying to reach another member for a request or service and they do not respond?
First of all, make more than one effort to reach them as not all people check their email daily. Even less log into Community Weaver daily, so try making a phone call to their preferred and alternate phone numbers, as listed. Still not getting a response? Then PLEASE let one of the TimeBank Coordinators know, so they can investigate whether the person you are trying to reach is truly available, or may have new contact information. Remember, we all agree, as part of our membership, to respond within two days to TimeBank related communications, but the reality is that people get busy with work and family and travel and may not always have the TimeBank at the top of their life's priority list. So, don't get discouraged, just speak up to your TimeBank Leadership and we will do everything to resolve your issues!
Who runs the TimeBank?
Arroyo SECO Network of Time Banks is lead by the members. Currently we cover thirteen neighborhoods, Pasadena, Altadena, North East Los Angeles, Echo Park, Silverlake, Los Feliz, Glendale, Lincoln Heights, Boyle Heights, Downtown Los Angeles, Westlake, West Adams and Koreatown. Each neighborhood has a leadership team. Learn more at the About Neighborhoods link. Consider joining your local nurture committee. The Arroyo S.E.C.O Network of Time Banks is a project of Arroyo S.E.C.O.
How do people connect to each other?
People either connect to each other online via our TimeBanks web software or through their local Coordinator or matchmaker. You can post a request for services online or call your Coordinator to ask them to make a match for you. Because our Coordinators are volunteers and not paid staff, they really like people to find and make their own exchanges but are happy to help if assistance is needed. You can also attend a group event or potluck to meet members face to face. We also have a list serve.
What kinds of people join TimeBanks?
Everyone can join a TimeBank and all kinds of people do.
Can I trust the people in a TimeBank to come into my home?
If you have any doubts, please do not accept the person’s offer to help. Our TimeBank does not currently do background checks. It is up to each member to get to know and feel comfortable with another member coming to his/her house. If you have a question about a member, the Coordinator may be able to give you some information. Attending potlucks or group projects are a good way to build trust with your fellow members.
Consider saying no to a trade if:
- You've been asked to do something you are not comfortable with and did not offer (your market-economy profession, something beyond a task that's listed in your offer, something not within the time availability posted on your profile.)
- You have not clarified the terms of the trade (how long it will take, what time you will have to leave, whether or not material costs are involved.)
- You've met the person before and aren't comfortable with them.
What happens if you go into debt?
Having a negative balance is OK. Debt is not an issue in the Time Bank. The most important thing is that the Time Credits are flowing and people are getting their needs met. The accounting is less important then the relationships that form.