How Bartering Can Save You Big Bucks

When funds are low, bartering can be a great way to get what you need, without spending money. Although bartering isn’t as used as widely today as it was in past generations, there are many frugal-minded people today who are taking advantage of a bartering system to exchange useful goods and services. We hope this article is helpful in teaching you how bartering can save you big bucks.

How to Barter

If you've never been a part of a bartering deal before, it may sound like an intimidating endeavor. We've compiled a list of tips to help give you the confidence you need to make a good trade.

1. 1. Figure Out What You Want and What You Have to Give

      

      It’s usually easy to figure out what you want, but you’ll need to find something to trade in return. Brainstorm items you don’t use anymore, desirable hobbies, crafts, or even simple chores.

   2. Find a Bartering Partner

      

      This could be a friend, colleague, or business connection who has what you desire and may want what you offer.

   3. Work Out the Details of the Trade

      

      Once you have landed on a fair trade with your established trade partner, set a deadline for when each party needs to fulfill their end of the deal. It’s a good idea to put the details of your deal in writing to save hassle in the future.

   4. Use Online Bartering Mediums

      

      With today’s technology, bartering is easier than ever. Craigslist is a great resource for those looking to barter locally and it is free to use. Other swapping websites allow you to save a lot of money by facilitating trades of goods and services. Websites facilitating trades and services, especially in times of an unstable economy, can be a convenient way to ensure that you receive the things you need without digging into your valuable funds.

   5. Learn How to Negotiate

      

      Becoming a good negotiator is essential if you want to save big bucks through bartering deals. One of the first rules of negotiating is to build a relationship with your trade partner. This can either be done by taking advantage of relationships you’ve already established or simply by taking the time to get to know the person with whom you’d like to make a trade. Sometimes, this can have the added benefit of learning a soft spot that might motivate your trade partner to make a trade. For example, if you find out that your trade partner is moving soon, you can leverage this by reminding them that it would make the move easier to get rid of some of their stuff. It just so happens that you would like to help take it off of their hands. When negotiating, be friendly and smile a lot. It’s much more difficult to say no to people who are likable and who make it clear that they like you. Lastly, don’t seem overeager about the item or service you want. Giving off the impression that you could take it or leave it will give you an advantage.

   6. Use Bartering in Your Small Business

      

      For small business owners looking to make it in a tough economy, the use of bartering can help expand your revenue, conserve some of your precious cash-flow, advance into new markets, and put any extra product to good use. Many online and swap sites have been set up for this very purpose. Official bartering sites use what is called barter or trade dollars. These are virtual dollars gained by bartering goods and services and can be used to buy other items. Sometimes quality trades in the business world can lead to referrals for cash-based business.

What Can Be Bartered

The sky is the limit for what can be traded in a bartering deal. Here is a list of a few ideas of what can be bartered:

1. 1. Personal and Home Care Services

      

      Haircuts, massages, tattoos, housecleaning, lawn mowing, babysitting, and so many other services can be put up for trade. Think about skills and hobbies you have that might be useful to someone else and utilize this when negotiating a trade.

   2. Clothing

      

      Everyone needs clothing, and buying new clothes can be expensive. Maybe you want to organize a clothing swap where multiple families bring their old clothes to swap for “new ones”.

   3. Toys

      

      Your child’s old toys, or your old technology toys, might no longer be a hit in your household but could benefit others. You can even host your own toy swap so that everyone gets something new and fun.

   4. Crafts and Food

      

      Buying Christmas gifts every year can really put a dent in your bank account. If you have some favorite crafts or treat items that you make every year for your own family, try making some extra and see if you can trade them for other Christmas goodies.

Did you find our list helpful? We love the idea of saving money through a bartering system and we think everyone should give it a try. We would love to hear your stories about great bartering deals and any more trade tips you may have for our readers. Don’t forget to share this article if you liked it!