Bartering Is Back: How Can It Work For You?

Bartering is simply the trading of goods and services without the use of money. It's been around since time began, though modern society has largely shunned it in favor of the tried-and-true cash system.

However, with TV shows like A&E's Barter Kings and the story of Kyle MacDonald who famously bartered his way from a paperclip to a house over the course of a year, bartering is back in the limelight again.

But how can it work for you?Virtually any good or service can be bartered. For example, a voice coach wants to trade singing or public speaking lessons for housekeeping services. Or perhaps someone else is offering a portable air conditioner or carpet cleaning services in exchange for a flat screen TV. Ideally, bartering involves each party getting something that they consider more valuable than what they're giving up.

Bartering websites are becoming more common. Barter Network Ltd., or BNL, was set up specifically to help businesses trade goods and services. The business pays a one time fee of $399 to join, a 5% cash fee per buy and sell transaction, a $10 monthly maintenance fee and a $10 monthly trade fee.

Businesses trade everything from printing services to advertising spots to hotel stays and are assisted in each transaction by a broker. And a business doesn't have to do a straight trade with the other business. Instead, they can earn BNL dollars that they can save and later purchase whatever they want within the network of companies -- similar to a gift card at a shopping mall.

While the Barter Network doesn't deal with individuals who want to make a trade, websites for such transactions are popping up all the time and Craig's List and Kijiji have sections for bartering, as well.

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Bartering, either face to face or online, seems simple enough - you give something, you get something in return, but there are some basic rules you should follow.

1. For safety's sake, when meeting for an exchange, ask a friend to come with you and meet in a public place.

2. If you happen to see something you would like to trade for that hasn't been offered, don't be afraid to ask. The worst that can happen is the person will say "no."

3. Think of all of the skills and possessions you would be willing to trade and list everything.

4. Be prepared to walk away. People may offer services that don't quite seem on the up and up. If you wouldn't pay them for the service, don't barter with them either.

5. Don't let anyone coax you into trading something you don't want to barter and, along the same lines, don't barter for something you really don't want.

6. When you barter, there are no guarantees. You can test something to make sure it works but, even if a laptop powers up, it may still have a dying battery.

7. Don't blame the other party for a bad trade. The choice to make the trade was yours. It may have been a bad decision on your part but that can happen with a retail purchase, too.

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RELATED LINKS:
Bartering in Action
The Art of Bartering
No Money? Try Bartering. Trading For Goods & Services Makes a Comeback

Marlene Alexander is a freelance writer and Dollar Store Diva. She writes tips and tricks for finding and using the best that dollar stores have to offer.