Stop spending, start swapping!

by Serena Cowdy on 17 February 2009  |  8 comments
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Before you splash your cash, investigate all the options. You could save a fortune by swapping instead of spending!

One good thing about economic difficulty is that it encourages us all to get creative. In our efforts to live for less, many of us are beginning to think outside the box and try new money saving techniques.

One frugal strategy that’s really taken off in recent months is swapping.

Do you want some new clothes, books or a holiday? Or perhaps you desperately need some work done in your home. Whatever you’re after, the chances are you can get it by swapping something you’ve already got - and without spending a penny!

Your home

Before you cough up for an expensive overseas break, consider taking part in a home swap.

There are now several online house swapping agencies you can join, where you list your own home and then find someone else’s in your perfect destination.

Intervac and Home for Exchange, for example, both list homes all over the world. You just browse a site until you find your dream holiday home, then contact the owners and work out home swap dates and details that suit you both.

Just bear in mind that you usually pay an annual charge of around £100 to register with one of these sites. Still, it’s cheaper than a couple of weeks in a hotel!

Clothes

If you want to revamp your wardrobe on a shoestring budget, check out SwapStyle. This site can be used to swap clothes, accessories, cosmetics and shoes with people all over the world.

Alternatively, you could hold the odd clothes swapping party yourself. Just get each of your friends to bring drink, nibbles and a bag of the clothes they no longer want. Simple!

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Books

Bookworms should check out free website ReadItSwapIt. In a nutshell, you find a book you like in the site’s library, and ask to swap. The other ReadItSwapIt member then chooses something of yours, and you do the exchange.

Another good site is Bookmooch, which allows you to make international swaps and uses a credit system, rather than a direct-swap system.

Find out more by reading Where to get free books.

Gardening

There are now several online gardening communities where people can swap seeds and plants - as well as gardening tips and horticultural horror stories.

PlantTraders, SeedyPeople and GardeningUnplugged all have friendly forums where you can post seeds, plants and even trees you don’t want - and swap them for ones you do.

MyFolia goes one step further, allowing you to organise, track and share your gardening adventures with other people. It also has a handy swap search tool which allows you to find seeds and plants available to swap in particular locations.

Skills

Before you pay through the nose for a service, check out the Local Exchange Trading Scheme (LETS) in your community.

In a nutshell, each LETS operates a co-operative model. ‘Offered’ and ‘Wanted’ lists are created, then scheme member swap skills or products in a way that suits both parties. So for example, DIY could be swapped for cookery lessons, Spanish lessons for childcare, and so on.

To find a LETS group in your area, visit LETSLinkUK, the body supporting LETS schemes all over the UK.

A similar system is now being pioneered by ASDA. The supermarket giant recently introduced Barter Boards in some of its UK shops. People can use these boards to offer their skills and request things they want (or tasks they need doing) in return.

If your local ASDA doesn’t yet have a Barter Board, it might be worth asking if you can set up your own in your local library, community centre or shop.

Everything else!

If you want to get hold of something I haven’t already covered, have a root around on a free general swapping site like SwapShop. Here you swap your unwanted items for Swap Points, then use those points to buy other items offered on the website.

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Alternatively, have a look at Swapz. Here you can swap items directly with other users, without going through the process of earning points.

These sites allow you to swap pretty much anything - from stamps and antiques and to cars and entire properties!

Finally, check out freebie community sites like Freecycle and SnaffleUp. These aren’t strictly swapping sites, because you can get something for free without giving anything in return.

However, if everyone did that the sites would grind to a halt, so it’s always best to try and give something back to this sort of community. Happy swapping!

This is a classic article which has been updated in April 2010.

More: Five ways to increase your savings | Seven old fashioned money-saving tips