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Social Bartering with Favabank...

Favabank Community Bartering Favabank is modernising the age old idea of barter, exchanging items and time as favours between members of your community. Connect with people in your neighbourhood via the exchange of favours.

Bartering Favours Next time you need a helping hand or need to borrow something, why not try to source it from your local community?

Barter and Recycle Your Unwanted Stuff All barter exchanges are tracked using a virtual currency called a 'Fava', to create a 'gift economy' where the more you have given, the more likely that people will want to reciprocate. The Fava is the foundation for 'pay it forward' economics.

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Using the Student Community to Save Money

Posted by John Durrant on Thursday 8th November 2012, 9:14AM

As a student, money saving is normally close to the top of priorities during your time at university.

This has led to websites such as Save the Student (http://www.savethestudent.org) being developed by savvy students and graduates in order to help students get through university without too many money worries.

In recent years students have seen their budgets squeezed with the increase in fees alongside the sharp rise in living costs such as student bills (http://www.savethestudent.org/student-bills) and decrease in job prospects.

In these frugal times more and more students are looking for ways to save money that are different from the general trends such as searching for discounts, buying supermarket own brands and budgeting.

While all of these things are important, it’s a great idea to look for alternate ways to pinch the pennies and leave you with more to spend on the things that you really love.

As a student it’s important to keep your bank balance in check because if you were to ever get into financial worries it could affect your studies and personal life and in the worst case scenario even force you to quit your course and leave university behind altogether.

One creative and modern way to save money is to take advantage of the student community and utilise your skills, spare time and unwanted items to make things a little easier.

It was once said that one man’s rubbish is another man’s gold and in this case it could not be more true.

Imagine for example, that you wanted to move some of your items from one student house to another but don’t have access to a car and simply can’t afford to pay a man and a van. It would be great if you could offer something to someone in return who was willing to help you out.

Well now it’s becoming more and more possible with sites like Favabank.

To take a specific example, you might be a budding artist who creates one off wall canvases to decorate your student room with. If someone was willing to help you move your things from one house to another then you could offer a painted canvas for free and swap it for their time.

You might also have an unwanted item like an old TV or a games console that you no longer want and instead want to trade in for some top speakers to go with your new stereo system. Getting in touch with the student community could mean that someone was willing to trade their speakers for your TV.

Also, sites like Favabank allow you to build up a kind of bartering currency which you could potentially use for future favours from other members. In essence it’s a form of, you pat my back and I’ll pat yours… perfect right?

The more students that get involved with projects like this the better. Not only could it mean that general money spending could go down but also it could lead to a tighter student community in your local area allowing students to potentially eradicate the cost of many services and purchases all together.

So, next time you are thinking about getting your room painted or even taking a taxi trip to the local supermarket just take a second to think of what you can offer someone in terms of time or a skill in order to get it for free.

For more ideas about using Favabank as a student see: http://www.favabank.co.uk/index.php/suggestions/university_students

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