2. When times are tough, sometimes the best
ideas are the old ones. Enter the barter system,
which harkens back to the days when cash
wasn’t king.
3. Defined as the exchange of goods or services for
other goods or services without using money,
the barter system is making a comeback in
today’s budget-strapped economy.
4. Worth a whopping $12 billion in annual
transactions, the barter approach makes it
possible for you to get what you want without
paying cash for it. As a result, it’s very attractive
to independents, small businesses and start-ups.
5. When courting a barter deal,
consider the cost of the exchange
in terms of time and money: Is
the exchange of equal value?
Both parties should also treat the barter like a
legal transaction with contracts and terms. And
frequent barterers should seek an accountant’s
advice on tax considerations.
6. Some may feel uncomfortable trading something
of value for something that isn’t cash; however,
many barterers are already using a currency of
sorts. Bartering is being conducted on a high level
through trade currency a value recognized by two
international barter
and trade networks:
International Monetary
Systems and Tradebank.
Both organizations have
adopted a system of trade
dollars that can be spent by
members with anyone else in the system.
7. Trade dollars are also gaining
recognition as a type of digital
currency that could help the
global economy move beyond our
current monetary system, which, as many
countries now know, is not working. Seems our
ancestors had the right idea after all.
