LETsX Local Exchange Trading Schemes
are a way for people to exchange their time and skills with each other using a local currency or "TRI's". It encourages mutual help in the community and the possibility of creating an, "alternative economy" based on need.
How does LETsX work in my area?
• Members identify skills they wish to offer and their current requirements for goods and services, which are listed and circulated in a directory or via a web site.
• Members contact each other directly, arrange a ‘trade’ amongst themselves and agree a price in “TRI's” which are transferred online (paper vouchers may also be used if there are facilities to manage them).
• Direct exchanges do not have to be made, as “TRI's” are recorded, and members can generate their own credit in order to give “TRI's” in exchange for goods or services received from other members.
• Members may view or receive statements and newsletters, and social events take place, often hosted by individual members, where people can get to know each other and discover new opportunities for trading.
• The system is managed by a core group who share the workload.
LETsX is • non-sterling, trading in “TRI's”
• a local skill/time-sharing pool
• an enriching, supportive network
PRESS RELEASE LETsX is new, set up in 2017 to renew the kind of neighbourly exchange that used to take place before our lives became too busy and complicated.
If I had a piece of equipment in my garage that I used once a year, such as a long handled pole for pruning trees, why shouldn't my neighbour borrow it on the other days? Or if I had a skill such as sorting out a computer, or making up flat-pack furniture, whilst someone else had the time to look after my cat when I am on holiday or give me a lift somewhere, wasn't there some way we could all help each other without having to pay £10, or £20 an-hour? This makes sense not only for helping my neighbour but also from an environmental point of view. The important thing is that everyone has something to offer, even if they don't think so at first.
LETSsX enables members to exchange skills by means of an exchange system. You get things done for yourself by doing things for other people.
Members list the services they offer in a directory. The directory is regularly updated and is available to all members so that they can exchange services. A list of small ads is published and distributed with each mailing. This allows you to buy and sell goods and advertise wants.
All members get a 'TRI's' account for making payments in a local currency ('TRI's' are the name of the currency units here), used only by members. Normally one hour's work is worth 7 ‘TRI's’. This way you don't have to have direct exchange. So you can earn 'TRI's' by teaching someone French, and use your ‘TRI's’ to pay someone else to walk your dog! The only sterling cost you pay is a small annual subscription to cover running costs, and towards our website. Membership is currently £7 annum, in exchange for 7 ‘TRI's’. If, however, an exchange involves some sterling costs (i.e. materials) you can charge £’s for them.
We now have several members living locally, which is good for the environment and helps build the community. We have a directory that lists the skills that members are offering and their wants. This is online and members can access their own wants and offers and update them at any time. Those not online can see their account at socials meets.
We don't deal in ‘real' money, but in ‘TRI's' except where there are real costs such as petrol. Everyone sees all accounts to ‘pay’ for services, where members can also see their current balance of ‘TRI's’.
When you need a service, you contact the member offering it, agree a time and ‘price’ and off you go. We also hold regular socials where members can trade such things as unwanted goods and home produce directly and get to know each other, this helps find out each other’s skills and interests and you are more likely to ask someone for something if you can put a face to their name.
We meet in Croydon, twice a week.
NEBLINA 07737 227 617 email: LETsX@NEBLINAart.com