Time is Money?

Hands up who has seen the movie In Time with Justin Timberlake? Ok, I don’t see any hands up, but I think its more the fault of the medium than the lack of movie viewers.

Besides my fictions writing, my blogging, my family and my full-time job, I am also known to dabble in the world of freelance writing. From reports and essays to SEO Articles and most recently translations from Dutch to English. The other way around is not quite there yet.

One problem with being a freelancer is the ultimate payment for whatever project it is that you have been working on. Myself, I was taken for a ride for over $2000,00 one month by two people who despite promises of payment took the work I provided them and ran. Maybe I was to blame for not asking for a partial payment up front, but I also blame the site the work came through. They refused to help me because I didn’t use their payment facility but Paypal. When this was a completely legitimate decision, and a choice offered to me when I completed my profile.

Yesterday however, I was sent a link by my brother-in-law. It was a link to a site that hosts advertisement s for freelance writers. The name of this site I hear you all cry with intrigue. Time Bank.

After a quick read on their site, I realized that there operating principles are not a new concept, but it was the first I had heard of it. This also brings me back nicely to the Justin Timberlake movie.

Those of you that have seen this interesting and in my view under appreciated movie, will understand that the concept is that life is governed by time. Time has become currency and when you run out of time, you run out of life. This freelance site I have found works on the same theory. Ok, there is no death involved, but you bid on projects, you say how long it will take you to complete, and you are paid with the quote.

For example, I am now working on a translation project. I quotes 5 hours and that is what I will receive as payment. My time balance on the website will be credit by 5 hours. The more I work the more hours I build.

My thinking is with regards book editing and cover art services, I could always advertise on there and pay in the same fashion. I transfer my hours to someone else for doing work for me.

It is a strange concept, and certainly takes some getting used to. But, there is very little chance that people will scam you because they don’t have to pay you. They just give you a number. That is it.

I don;t know if I will use this service on a permanent basis, but for a once of it is worth a try. Plus I am intrigued by the concept of it all.

What do you think? Is this a waste of time, a waste of money or a win win situation and the basis for things much larger than we could realistically comprehend as a society?


5 thoughts on “Time is Money?

  1. This might be a cool way of finding beta readers and proofreaders for manuscripts. I’m always looking for those interested in proofing manuscripts, but I’m shy about asking people for time. These are people who are out there offering time. I’ll keep it in mind. Thanks for pointing this site out.

    1. Your welcome. I just finished a couple of Dutch to English translations that I picked up via the site. I got paid 4 hours for it. It was a fair price. Interested to see how many jobs get posted there and what I can do with the time I build up. There was – as it is part of a long term art project – a restaurant that opened in New York for a limited time period whereby you could pay for your meal only with time credits that you had built up. They had a proper menu that changed regularly and it only cost you time.

      It really is a intriguing concept.

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