How does LETS work?

How does LETS work?
LETS stands for Local Exchange and Trading system. People in a community form a club to swap goods and service amongst each other. For instance, person A may do 3 hours gardening for person B, who does 3 hours typing for person C, who may do some sewing for person D, who may do some baby-sitting for person A. So each member has both given and received a similar amount of work from other members.

But, they haven't been direct two-way swaps as in ordinary barter, whereby trading can't occur unless two people happen to each have something the other wants. Each person lists what they have to offer and what they need. This is entered in the Directory together with the account number and contact details, and sent to all members.

Using the Directory, the buyer contacts members in order to trade. They write a LETS cheque for goods or services they have received. The LETS cheque is sent to the local LETS Accountant who keeps a record of all transactions (or you can do the transaction online). A list of members' trading figures are sent to all members on a regular basis, as are directory Updates - and may be viewed on the website.

One main advantage of LETS is that it helps people realise that they do have something to offer. Whether they have skills or not, their time, energy, or resources will be of value to someone. Just a few examples are, shopping, lifting, cooking, cleaning, houseminding, lending home equipment or tools. Start by asking yourself what you enjoy doing. Have a look at the inspiration list, or look at the Directory to see what other members are already offering. You may also, as a visitor, attend one of our regular Bring and Share parties - for forthcoming dates check News & Events.

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