Bartering

Even when your income drops, you're not without resources. Take stock of all non-money resources you have as a family. Among these assets are time, knowledge, possessions, property and creativity.

Swapping resources with others is a time-tested way to stay in control when money is tight. Be creative. Think through the assets you have. List your skills, talents, and interests. Next, try to match your skills and talents to community needs. Try making your first swap with a friend, neighbor or relative to build your confidence.

Why Barter?

Bartering places value on human resources and not commodities without the exchange of money. It increases buying power by freeing money for things you need and cannot barter for, puts idle time and resources into action, extends goods and services to others who can benefit from your talent or items you want to swap, and can involve all family members. Bartering can open doors to new sources of income as you build business relationships with many people you know but have not "traded" with in the past. You may even discover the market value of your skills or interests and find a new market for your services in your community.

Bartering involves a short time commitment. If conditions change and you are able to pick up our agriculture production, you have not committed your time to a job that could create additional stress.

The challenge of bartering is making the right exchange. Some communities have a clearinghouse, civic groups or publications to help. There are also national groups and clubs for this purpose. One obstacle that discourages some individuals from bartering is determining value given for value received. Any material expense should be paid before services are rendered and should be paid for by those receiving goods and services.

Determine and communicate in writing your expectations in advance to avoid misunderstandings.

Guide to Successful Bartering

• List services or items you need.

• Know who will supply needed materials. Usually it is the receiver; but the provider, in some cases, may have the needed tools such as a lawn mower. For example, if you need a new tire, is there a tire dealer, a service station that sells tires or someone you know who would buy you the tire in exchange for a service you could do for them? When materials must be purchased, work together to determine specifics, cost limits, quality of materials, deadlines and other details that could become irritants. The tire dealer might give you a tire in exchange for building new storage racks or doing something regular employees don't have time to do but he can't justify hiring someone to do.

• Don't assume anything. Be sure to agree on the details of exactly what will be done. Be sure expectations are clear to all. In some cases a contract or written agreement may be necessary.

When You Provide a Service

Be sure you are clear on details of expected service. Don't take on tasks that you cannot do well.

Keep the receiver well informed on your progress. Inform the receiver also of any problems or delays.

Decide on the time the service is to be provided. If needed by a certain date, be sure sufficient time is allowed to complete the service.

If You Receive a Service

Carefully explain and supervise work to be done. Don't be caught with a completed job that is not what you expected.

Don't hesitate to check the provider's qualifications.

Make sure the delivery of service is convenient and within the time you want the work done.

If the task requires your presence or help, make sure you are aware of this.

Bartering Ideas

• Appliance Repair

• Videotaping of weddings, birthday parties, first haircuts, etc.

• Computer services using software you already own.

• Arts and crafts making, woodworking, painting, welding, etc.

• Auto services - jump starts, tune-ups, oil change, wax, wash, interior cleaning, rotating tires, running errands for people at work or older adults, after-school student delivery to activities, etc.

• Carpentry - bookcases, decks, fences, furniture repair

• Child care/elderly care and family services, day care in your home, home nursing, weekend retreats for families from nearby towns.

• Entertainment talents such as singing, playing a musical instrument

• Food Preparation and Service - special occasions, cakes/cookies, pies, breakfasts, canning, catering

• Food Production - fishing, berry picking, hunting, garden produce, food preservation

• Home Repair/Maintenance Services - painting, trim painting, replace boards, insulation installation, plumbing, electrical work, storm windows/doors on/off, screens/doors on/off, roof patching, minor fix-up, window washing, wall papering, replacing light bulbs, carpet shampooing

• Lessons/Tutoring - sports, music, gardening, computer use, basic automotive repair.

• Moving and Hauling - furniture, trash, farm produce, livestock, getting kids to college, etc.

• Office - word processing, bookkeeping, personnel training.

• Pet Care - sitting, walking, feeding, grooming, training

• Yard Work and Gardening - tree trimming, grass cutting, garden tilling, weeding, planting, watering, hedge trimming, yard sitting, edge trimming

• Companionship - filling the gap in the lives of people whose children have moved out of your community by visiting, checking on older adults well-being daily by phone or in person, being an assigned emergency responder if they have problems, or even being a travel companion and driving them to places they can no longer drive.

References

Crawford, C. and L. E. Smith. Getting Through Tough Times - Setting Spending Priorities, University of Illinois Cooperative Extension Service, 1994.

"Consumer Handbook on Adjustable Rate Mortgages." Federal Reserve Board, Washington, D.C.

Contact your local Texas Agricultural Extension Agents' office for copies of other sections of this manual. The address and phone number can be found in the yellow pages of your phone book under "governmental offices - county."