During the times when money is really tight, we usually resort to borrowing money to buy what we need. What happens when nobody can lend you some? You go look for another. There is another way to get what we need without money. We just have to barter.
What is Barter?
Barter is the process of exchanging or trading goods or services without money. It is an age old tradition that was used long before money was invented and it sure works today.
It is resurfacing and regaining popularity because people have been realising its advantage in terms of business and finance management because it is a really simple system. It is also devoid of foreign exchange crisis and it allows for utilisation of personal and natural resources.
Usually, this process is being engaged to by small businesses enterprise but this can work for ordinary citizens as well. Students can also benefit from trade. Old books? Trade them for new ones. Old clothes? Barter for something else. The Barter System is so flexible and with today’s technology, it has become easy to connect with traders online.
( I write about how Barter helps save money here.)
However, there are some considerations for this process. There is no common measurement of value so the goods to be traded should at least almost be equal in worth.
Transport. Let’s consider this one. If you are going to meet in person, you would still have to spend time and money and effort for the product. If the barter is done online, the courier has to be paid too.
So I guess, in any transaction, money will still be involved, right? But if you don’t have enough but you’re OK with spending a little, barter will always be a good choice especially this process allows you to meet potential partners for your business, in short, it helps you grow your networks as well.