After the recession unexpectedly sent her retirement portfolio into a nose dive, 61-year-old Judy Capel found herself forced to make cuts to her budget, eliminating home repairs like fixing her leaky kitchen sink, getting her windows washed and repairing broken shelves in the living room."
Right now, they would not get repaired," Capel said. "I mean, I just absolutely cannot afford that."
So instead of getting out her wallet, Capel turned to a time bank -- a program that allows her to trade her skills for the repairs she needs without paying for the service.
It works kind of like bartering, in which two people trade goods or services instead of money, but time banks have a pay-it-forward twist.
For example, if someone needs an hour's worth of help painting a fence, a time bank will match that person with someone who knows how. In exchange, that person will spend an hour helping someone else.This kind of ingenuity builds a sense of community among people as well as meeting their economic needs. An encouraging development.