In traditional bartering, you do something for or give something to and likewise in return; whereas in LETS networks, you use interest-free local credit, so direct swaps do not need to be made. For instance, a member may earn credit by doing childcare for one person and spend it later on carpentry with another person in the same network.
LETS is being used in various parts of the world, often with great success. For example, Central Coast LETS has 300 members who help each other and trade between themselves, enhancing their lifestyles in ways that may not be possible otherwise. An Armidale LETS group (ArmLETS) was formed two years ago, with Gems as the name of their new local currency. Currently, ArmLETS has 38 members and is looking for more.
Would you like help getting your vegetable garden going, chook pen built, a hand on the farm, babysitting, or house painted, for example? Can you teach a foreign language, make and or decorate cakes, tutor children, write resumes, walk a dog or anything at all that people might find helpful? It may just be that you are a good listener and can make a good cup of tea — this can be as valued as any other service in a LETS system.
Whatever your needs and wants and whatever skills you have, LETS is worth looking into. You can join ArmLETS now by going to slaati.org and clicking on ‘ARMLETS’ where you will find a great deal of information about LETS as well as a registration link at the bottom of the page. There is no cost to join, so why not go ahead and join this fantastic local trading system!
