If you’ve never bartered, you’re missing out. Bartering allows you to acquire goods and services without the exchange of money. Here’s how it works. You’re a writer in need of a good laptop. Instead of purchasing one new or secondhand, you find one through BarterQuest, a cashless trading site. You complete your profile, list what you “WANT”, and add writing to the list of services that you “HAVE”.
People with laptops that need writing done for their businesses, can contact you through the site and make an offer. Once you’ve found a suitable laptop, you can make a counteroffer and agree on what you would be willing to write in exchange for the electronic. The other member then agrees to your counteroffer and accepts it. You then make your exchange.
Verify Your Account for Added Security
Every member must go through the verification process before trading. This ensures that everyone on the site has good intentions and will follow through with their exchanges. The onetime fee for verification is $9.99 which is a small price to pay for years and years of bartering. To learn more about the verification process, refer to the BarterQuest FAQ page.
Benefits of Bartering
In addition to being a useful way to acquire goods and utilize services without earning and exchanging money, bartering also offers the following benefits:
- Provides you with warm sense of community and purpose.
- Gives you the satisfaction of knowing that useful items are not going to the dump and winding up in the landfill.
- Offers you the opportunity to build your skill set.
- Allows you to make use your talents and encourages you to pursue interests that you might not otherwise be able to afford.
Regular barterers agree that a cashless system of exchange is not only better but more enjoyable.
When Bartering Becomes Taxable
Bartering becomes taxable in areas of the United States and Canada if the goods and services that you receive are worth $100 or more. You can refer to IRS.gov for more information about reporting bartering as “income” on your taxes.
Bartering is a great way to stretch your dollars. You acquire the goods and services that you need to make your life easier which frees up your income for other things. Bartering also supports the local economy, allows people to showcase their skills and talents, and keeps goods from the garbage. It’s a win-win situation for all parties involved.
Author: Charissa
Charissa is into frugal living and saving money.
