Who created Time Dollars?
Edgar Cahn came up with Time Dollars as "a new currency to provide a solution to massive cuts in government spending on social welfare. If there was not going to be enough of the old money to fix all the problems facing our country and our society", Edgar reasoned, "why not make a new kind of money to pay people for what needs to be done? Time Dollars value everyone’s contributions equally. One hour equals one service credit. "
He wrote books titled "Our Brother’s Keeper" and "No More Throw-Away People", and believes that everyone has something of value to share with neighbors. For more information about the national Time Dollar movement, check out www.timebanks.org.
Example of a Lynn Time Bank Exchange:
- Mrs. Santos drives Mr. Smith to his doctor’s appointment. Mrs. Santos earns 2 time dollars because she gave two hours.
- Mr. Smith is a retired professor, and he tutors Natasha in math. Mr. Smith earned 5 time dollars for tutoring 1 hour each day during a school vacation week. He "paid" Mrs. Santos 2 time dollars, and still has 3 saved to spend another day.
- Natasha "paid" Mr. Smith 5 time dollars for tutoring, that she earned by raking leaves and cleaning for Mrs. Castellano.
- Mrs. Castellano is a piano teacher, who "paid" time dollars to Natasha for raking leaves by giving piano lessons to Tommy.
- Tommy knows how to use computers, so he earns time dollars by helping Mrs. Santos learn how to e-mail with her family members who live far away.
The nuts and bolts of keeping track:
The reason we are a "Time Bank" is that the hours of time you give to others are credited to your "account" in our computer, and hours of help you receive are "debited" from your account. After each service exchange, the participants notify the office of how many hours were given. Quarterly statements are sent to all members. The "beta website" allows members to e-mail each other with service exchange information, such as placing an ad for services ("I am able to provide transportation within Lynn"), placing service requests ("I need a ride to my Doctor in Salem next Wednesday), and confirming that the service took place. You must be a member in order to have access to the service ads and requests. You may apply at http://community.timebanks.org next to the "Lynn Time Bank"
