How does LETS work?
The scheme is run by and for its members. Reading LETS issues a regularly updated directory of members' offers and requests of skills, goods and services.
Members trade by mutual agreement. A rate in Readies is agreed together with any cash payment to cover materials. A member writes a 'cheque' for goods and services received. The scheme's accountant records transactions and publishes accounts of members' trading balances.
Who benefits from it?
* Employed people wishing to develop their talents and help local trading.
* People on low incomes needing access to goods and services that they could otherwise not afford.
* People who are unemployed wanting opportunities to use and develop their skills.
* Local organizations
* In fact, everyone!
Who can join?
LETS is open to all in the community - individuals, households, charities and businesses - all kinds of skills, goods and services are welcome and needed.
We cover the Reading area but we also have members further out. Check with us for details.
Do I have to earn before I spend?
No, you do not have to earn Readies before you can spend them - you are keeping this alternative economy healthy just by using the system. In fact, 30 Readies are credited to every new account that is opened - to help you get going.
How does it differ from the money system?
One fundamental difference in a LETS scheme is that no interest is charged for going into 'debit' and no stigma is attached to it. In fact the system will not work unless some people do.
Making friends
LETS is an excellent way of meeting people and making friends. Share your interests and discover new ones.
Our regular social events are an opportunity to meet other members, see what they have to offer and what they need, and are a chance to offer your services.
Members trade by mutual agreement. A rate in Readies is agreed together with any cash payment to cover materials. A member writes a 'cheque' for goods and services received. The scheme's accountant records transactions and publishes accounts of members' trading balances.
Who benefits from it?
* Employed people wishing to develop their talents and help local trading.
* People on low incomes needing access to goods and services that they could otherwise not afford.
* People who are unemployed wanting opportunities to use and develop their skills.
* Local organizations
* In fact, everyone!
Who can join?
LETS is open to all in the community - individuals, households, charities and businesses - all kinds of skills, goods and services are welcome and needed.
We cover the Reading area but we also have members further out. Check with us for details.
Do I have to earn before I spend?
No, you do not have to earn Readies before you can spend them - you are keeping this alternative economy healthy just by using the system. In fact, 30 Readies are credited to every new account that is opened - to help you get going.
How does it differ from the money system?
One fundamental difference in a LETS scheme is that no interest is charged for going into 'debit' and no stigma is attached to it. In fact the system will not work unless some people do.
Making friends
LETS is an excellent way of meeting people and making friends. Share your interests and discover new ones.
Our regular social events are an opportunity to meet other members, see what they have to offer and what they need, and are a chance to offer your services.