Use barter wherever you can to save on cash outflow. You are skilled at certain things, others are skilled at other things. For example, if you are an accountant, trade your tax preparation skills with a painter or plumber for their services. Call it what you will…barter, barter and swap, barter trade or barter exchange, it is a tip that you can use starting today to save money now and into the future.
Depending on where you are located, you can develop barter relationships around where you work, in your market area or online at barter sites — or, best yet, all three!
There are even barter clubs you can join. You can start right now, today, to find the top barter websites, register and begin using the services. What makes bartering so exciting and worthwhile is that you know your business and can turn out your product or service rather easily as can your barter partners with their own products or services.
And bartered services can include almost anything. Recently, a commercial printer and a restaurateur exchanged services: the printer took his spouse out for a fine dining experience while the restaurant owner got his new, finely printed business cards and menus that he needed. Both businesses saved several hundred dollars.
Create Your Own Small Business
Creating something to barter could also be the start of something small…a small business that is. A contemporary of one of our editors who graduated at the time of the Great Recession about 2008 to 2010, had an impossible time finding a teaching job and like most people coming out of college, he needed money and he needed money immediately. Graduating in the month of May, he looked around for a job while he applied to schools for teaching positions. The only one that he could find was working for a swimming pool company service swimming pools. He took the job and his job for the summer was to be the second guy in a two-man team. He and a more experienced technician would arrive on the job with his job being to get the pole and net out of the truck and clean out anything floating in the pool. His partner would test the water chemistry and adjust it as needed.
Out would-be teacher turned pool boy for the summer, was no ordinary pool boy. He had majored in chemistry in college with a Masters in education. It wasn’t long before the owners of the pool company realized that their pool boy could not only balance pool water quite simply, but he could also diagnose various chemical problems.
Unfortunately, he did not find a teaching job in chemistry that year, nor the next. Dutifully going on interview after interview, he could not get a teaching job. He stayed with the pool company for two years and essentially learned the business. The third year, he did find just the teaching job he wanted and took it, leaving his pool service experience behind.
As time went on, however, he married, started a family and, like many of us, he needed more money than his teaching job provided. The house that he purchased along the way has a swimming pool and the water was not only crystal clear, it was exquisite, which wasn’t lost on any of his neighbors. It was then that he got the idea to trade his pool servicing skills for various other skills that his neighbors had. It saved everyone a lot of cash.
There are potential tax consequences to consider. Consult with a qualified professional before undertaking bartering.
Best Bartering Websites