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Taranaki Timebank

The Importance Of Recording Your Hours

Do you record all your hours? All the hours you are giving or receiving? Timebank often matches people within the community and an initially one-off trade might become a regular exchange. This is great! Because Timebanking is all about building community. If  friendship grows out of it - even better! But don’t stop recording your hours.
I understand that you don't charge you friends. And spending time with a friend is something enjoyable - why should you record the time?

Because our Timebank can’t work if you don't record your hours.
Does the time our Steering Committee and I invest have any impact? How well is our Timebank doing? The traded hours are also an important indicator for our funding sources to see whether we are creating the volunteer hours we were hoping for.

Here is a play with numbers:
Before we got funding this year we had 96 members (not so bad, eh?) who recorded 726 hours traded in over 4 years. In other words Timebank members traded 3.5 hours per week and 0.46 new members joined every week (ouch - to those comma people).
In the last 8 weeks (until 10th of July 2016) we had +14 new members (also some members resigning because they've moved away) and we had +124 hours recorded. The average in the last 8 weeks equals 15.5 hours per week and 1.75 new members per week.

This is awesome! But we can do even better with every hour recorded.

Recorded hours stimulate more hours being traded. More members becoming more active making it more interesting to trade for everyone.
Think of all the hours you miss out on if you don’t record them.
Don’t feel bad recording your hours because your trading partner might get into the red.
Don’t fear the minus in your Timebank account. This just shows that you created volunteer hours for someone else and that you are building community. There is no interest on hours. And we can donate you with hours to balance your account. Because your “time depts” actually helps the Timebank community.


Now, follow this link and minute your hours. It’s about time!