Comments on: Weakon 222: Local Currency

By: Mike @ TheThriftyLife

Mike @ TheThriftyLife — Thu, 30 Apr 2009 16:53:18 +0000

As someone who is close to Pittsboro, NC - this was featured on our local news recently. I think it's an excellent idea and one that both supports local businesses and patrons and encourages them to continue doing business locally and also benefits the buyer, since you're getting more for your money. It's like subway or toll tokens, you pay more ahead to receive a discount. You can't use the tokens anywhere else, but you still use the service - so why not get the discount and benefit the local community! Mike @ TheThriftyLife’s last blog post..Can Email Save You Money?

By: Mark Herpel

Mark Herpel — Thu, 30 Apr 2009 12:38:34 +0000

The Berkshares is an awesome local economic force in their community. However the business model might not work everywhere as SaveByLive notes above. But not all CC’s are like the Berkshares, some are only meant to be a local trading exchange. Take the LETSystem (Local exchange transactions) you list on the web site all your goods and services you have to offer, others list the same. If you sell an item or get paid doing a service, you receive credits. You find stuff or services you need and spend your credits. This is a type of local currency also and this is wildly popular around the globe. Most communities also meet once a week to exchange stuff. There are a lot of community options when it comes to trade, currency and exchange(barter) but it all boils down to getting it done locally and not being dependent on imports.

Mark Herpel
editor@ccmag.net

By: SaveBuyLive

SaveBuyLive — Wed, 29 Apr 2009 23:27:09 +0000

Local currencies confound me. Okay, so the 5% extra purchasing power is nice but my town doesn't have much in the way of worthwhile local businesses to support by way of regular patronage. The largest amount of money I pay to a local entity each month is my rent. If I could get a 5% discount on that I'd be all over it. But saving 5% on a $10 a week purchase from the local farmer's market isn't worth the hassle of going to the bank and exchanging the money. That's a savings of maybe a bit over $2 a month. Even if the savings got up to $5-10 a month it might not be worth it. There are so many easier ways to save the same amount of money that don't involve running to the bank and doing crazy currency exchanges. SaveBuyLive’s last blog post..51% of Americans are now committed to either spending less or saving more

By: Amber Jones

Amber Jones — Wed, 29 Apr 2009 15:00:12 +0000

I had never heard of something like this before.

But it makes sense that it *could* work. Also, thanks for sharing on the possible flaws that could happen as well. But I guess those in Mass. have figured out how to make it work for them, so maybe the rest of us should take notes.

After more reading, I found this quote and thought I’d share it for those of you who don’t click over to other links….

“A good community, as we know, insures itself by trust,
by good faith and good will, by mutual help,
A good community, in other words, is a good local economy.”

-Wendell Berry, from “Work of Local Culture”

Amber Jones’s last blog post..4 Ways to Update Your Home Without Large Costs