When you work professionally, you exchange your time and ability for cash. Be that as it may, time banks enable you to exchange time for other people groups’ time. All the while, you can set aside some cash and take part in your nearby network in compensating ways.
A period bank is an association that deals with a mutual economy dependent on time sensitive money. All the more significantly, it’s a network of individuals that perform administrations for one another and bank credits for every hour of time spent. Time banks give a brought together spot to record hours in the bank and individuals. (Just as their accessible abilities), ordinarily utilizing the product.
Time banks encourage many-to-many time-sharing
Time banks encourage many-to-many time-sharing, and consistently has the equivalent “esteem”.
Many-to-many: Unlike deal or different frameworks, where you exchange straightforwardly with another gathering. Time banking takes into account adaptability and putting away esteem. You can go through an hour helping another part and record that hour in the time bank. At whatever point you need administrations from a period bank (regardless of whether that is one week from now or one year from now). You can choose from any accessible part—not simply the individual you helped before.
Worldwide: Time banks flourish in nearby networks, however they can likewise work over the globe. Contingent upon the banks included, you might most likely get administrations (or hotel, on your next excursion) from someone in an alternate time bank in another nation.
Equivalent esteem: Time banks, as the name recommends, esteem time, and one hour of administration rises to one credit for the bank. It doesn’t make a difference if individuals commonly charge $12 every hour or $120 every hour for the administrations they give—since individuals exchange hours. That can be especially helpful when you are short on assets, yet you need costly administrations.