Time-Based Currency

DEFINITION of 'Time-Based Currency'

A currency whose value is based on one man-hour of labor. A time-based currency is an alternative form of currency most often found in communities that place value on volunteerism and social capital. It has no monetary value.

BREAKING DOWN 'Time-Based Currency'

Time-based currencies are found in time banks, which are groups of individuals and businesses that use their "earnings" of the alternative currency to get others to help them with projects. Because time-based currencies have no value outside of man-hours, individuals and organizations are unlikely to hoard them.

RELATED TERMS
  1. Currency

    Currency is a generally accepted form of money, including coins ...
  2. Fiat Money

    Currency that a government has declared to be legal tender, but ...
  3. Barter

    The act of trading goods and services between two or more parties ...
  4. Stroud Pound

    A local, private currency launched in the British town of Stroud, ...
  5. Phoenix Dollars

    One-ounce silver disks introduced in October 2005 by an individual ...
  6. Money

    An officially-issued legal tender generally consisting of currency ...
Related Articles
  1. Forex Education

    The History Of Money: From Barter To Banknotes

    Money has been a part of human history for at least 3,000 years. Learn how it evolved.
  2. Forex Education

    The History Of Money: Currency Wars

    Find out how conflicts have changed the role money plays in our lives.
  3. Forex Education

    History Of Coinage In The U.S.

    From the barter system to commemorative coins, we look at the history of U.S. money.
  4. Economics

    What Is Money?

    It's a part of everyone's life, and we all want it, but do you know how it gains value and how it is created?
  5. Taxes

    Tax Breaks For Volunteering

    Your volunteer ventures could earn you some welcome tax deductions, along with the satisfaction of helping others.
  6. Retirement

    What Retirees Should Know Before Volunteering

    When volunteering involves expenses, did you know they may be tax-deductible? Here's the scoop.
  7. Retirement

    6 Ways to Give Back After Retirement

    Discover the various ways that retired individuals can give back, donating their time, skills and money while still maintaining a comfortable retirement.
  8. Budgeting

    8 Tips To Help You Control Holiday Spending

    These tips will have you singing "Joy to the World" well into the New Year.
  9. Taxes

    Tax Breaks for Volunteering

    In addition to helping society, volunteering can yield tax deductions – sometimes. Here's how to tell what will pass muster and what won't.
  10. Retirement

    Peri-Retirement: The New Life Transition

    Use your 30s and 40s to imagine new life options – and try them on for size
Hot Definitions
  1. Harry Potter Stock Index

    A collection of stocks from companies related to the "Harry Potter" series franchise. Created by StockPickr, this index seeks ...
  2. Liquidation Margin

    Liquidation margin refers to the value of all of the equity positions in a margin account. If an investor or trader holds ...
  3. Black Swan

    An event or occurrence that deviates beyond what is normally expected of a situation and that would be extremely difficult ...
  4. Inverted Yield Curve

    An interest rate environment in which long-term debt instruments have a lower yield than short-term debt instruments of the ...
  5. Socially Responsible Investment - SRI

    An investment that is considered socially responsible because of the nature of the business the company conducts. Common ...
Trading Center