The state of a person's bank balance is not as relevant as the ability to trade. Does (s)he have time available? Is (s)he willing to devote skills and energy to trade with others?
Of course, there are often costs that cannot be met on the system and will have to be paid for with cash in the normal way. Replacement parts for repairs, for example. Even then, you should find it possible to make your cash go further.
The money issued within a LETSystem can only be spent within that system. It therefore stays within the trading community, going round and round, supporting further trading as it goes.
LETSystems accounts are very cost-effective and more affordable than a bank or credit card account. No interest is charged on, or is payable to, accounts. This reduces costs and encourages people to keep spending, since there is no benefit in 'hoarding' positive balances.
Because LETSystem units (also known as 'Strouds', symbol '$') cannot be spent outside the LETSystem, they do not have the same spending power as cash, but they provide a system that is supplementary to cash, not alternative to it. As a result, those people who use LETSystems can reduce their cash outgoings, and make their hard-earned pennies go further.
What is Stroud LETS ?
|Ethics &Philosophy of Stroud LETSystem||Examining the Potential of Stroud LETS||Past Press Releases|
|LETS Eat||Link to LETS Stroud allotment||Links to other LETSystems, UK & Worldwide|