Local LETS By Jane

I am Jane and am setting up a LETS scheme for Ella Street and the surrounding area. LETS stands for ‘Local Exchange and Trading System’. It’s basically like going back to the old system of trade and barter rather than using money as a currency. Local people exchange their skills and resources with each other, using a ‘cheque book’ with LETS credits or units. These units are often named after the area – for example in Bradford they are called Brads, in Stroud they are called Strouds. One unit usually equals one pound in real money. So if you would normally pay someone ten pounds for a job, you pay 10 LETS units instead and your account is debited accordingly.

Lots of things are traded in LETS and everyone has something to offer. Examples include babysitting, DIY, crafts, music and language lessons, even house-sitting for people on holiday. There are many successful LETS in operation, including Hebden Bridge, Keighly and Stroud, Gloucestershire. LETS are good for bringing communities together. They also give people access to services they couldn’t normally afford, such as music lessons. continued below..

Local LETS continued.. By Jane

If you are interested in coming to the first LETS meeting, it is at 120 Ella Street on Tuesday 5th August at 7.00pm If you have any queries please feel free to contact me on 449948 or email Email : jane@thisisull.com

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