Bartering is a system that involves trading goods for other goods or services rendered. The dictionary definition of bartering is to trade by exchange of commodities, rather than the use of money. Because this is for goods or services, bartering can discourage waste, as people often trade for things they want or need.
An example of this may be someone who barters the excess of vegetables he has that have been grown in the garden. These may be bartered for something completely different, including:
- guitar lessons
- a typed resume
- another food item
Bartering for Skills
The best thing about bartering is it's only limited to the imagination. If someone has knowledge in a particular area that you desire, and you possess something he wants, it may be possible to barter for some of his time.
For example, after observing someone's financial wealth or wisdom, it can be worth asking how he came to be financially secure. Rather than asking for a loan, which is so easily spent, consider asking if he will give of his time to help increase your financial knowledge. Bartering has the potential to decrease one's spending and consequently increase or improve one's finances.
Reusing and Recycling
Bartering also affords a chance to pass on items that aren't used or are no longer wanted by the owner. This can be beneficial in a couple of different ways. Firstly, someone else is gaining an item he needs or will make use of, and secondly, the initial owner will get rid of an unwanted item whilst receiving other beneficial goods or services.
Consider the couple who has had their last child. There may be items that have been purchased for this time that are only of use for a six- or 12-month period. This may include clothing items, toys, a change table and a myriad of other things. Once this time has passed, rather than throwing out these items or selling them for a minimal amount of money, they could be bartered or exchanged with someone who's in need of such items.
The exchange could result in acquiring other items that will be of value for a longer period of time. Bartering also affords the opportunity to acquire assets that will keep their value or even increase in value.
For those who are short on finances but have an excess in other areas, bartering can be very beneficial. Of course, this is only if the goods or services that are on offer are desired by someone else.
Once the idea is present, it often occurs that the opportunity presents itself to be able to barter. Consider what you would barter and what skills, services or items you'd be willing to receive in return. You may be amazed at how much can be acquired and achieved without sums of money.
Chris Thomas - C. Thomas has studied and worked with horses since 2001. She teaches horse studies part time and is undertaking an Equine Science ...
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