Music Timebank

What is a Music Time Bank

A Time Bank to help participants make Music.

Time banks don't use real pounds and pence money. Instead they encourage people to make deposits and withdrawals of their time.

In a time bank, participants earn credits for helping each other - one hour of your time entitles you to an hour of someone else's time.

Credits are deposited centrally in a time bank and withdrawn when you need help yourself.

Help is exchanged through a broker who links people up and keeps a record of transactions. Music Melts is your timebroker. Though the system is automated there are Music Melts commissioned project coordinators, administrators and moderators to assist with issues that may arise from using the Time Bank. 

Unlike real money, anyone and everyone can earn time credits - no-one is excluded. Almost everybody - young or old - has something to offer,

Most importantly, everyone's time is worth the same. However the amount of work you will be offered is likely to depend on your experience, skills and reputation you have to offer. Although there will be various project focus activities you will be able to get involved in to earn time credits to invest in your own music based projects.

Government ministers have ruled that time credits - earned by helping out in your local community via a time bank - should be disregarded by the Benefits Agency (See Time Banks UK Newsletter, Issue June 2000 for full details of the ruling). This follows on from a decision in August 1999 that time credits are tax exempt. However if you should decide to sell any product created using Time credits for real pounds or dollars etc then you will be subject to the same tax laws are everyone else in your country.

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Last updated 978 days ago by MELTS