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SALT LAKE CITY — In times of crisis and uncertainty, and these are those times for sure, people hold onto to their cash. So how do you go about getting the stuff you need or want? The barter and trade system of medieval times has returned during this global pandemic.
Social networks such as Facebook and Nextdoor are loaded with posts from neighbors and friends seeking everyday things no longer available at the local grocery store, such as toilet paper.
Jana Dahl, CEO of Provo-based America’s Barter Exchange, joined Lee Lonsberry, host of Live Mic, to discuss how the barter and trade system works in 2020.
She said the company has about 850 members to exchange with.
“They trade their products and services for a trade currency, instead of a cash currency, and that goes into a checking account,” Dahl said. “We work like their bank. We send out statements. We’re a third-party record-keeper. And then we market their products and services to other members,” she said.
According to the company website, you decide what you want or need — things you would normally pay cash for. Then, it works like this:
“It’s not direct trading,” Dahl said. “[Barter and trade is] just another form of currency, and another way to maximize their businesses.”
She said trading has increased during the coronavirus pandemic, and her members are spending their trade dollars instead of cash.
America’s Barter Exchange has offices in Provo and Las Vegas and soon an outlet in Hawaii.
Dahl said she’s seen much more barter and trade activity in her neighborhood. Trading during massive layoffs and stay-at-home orders is a way people can fulfill their needs or wants for goods or services without spending cash, she said
“It’s also a great way, even if you’re not a member of a trade exchange, to use your creativity and see what you have to trade for what somebody else has,” she said.
Live Mic with Lee Lonsberry can be heard weekdays from 12:30 p.m. to 3:00 p.m. on KSL NewsRadio. Users can find the show on the KSL NewsRadio website and app.
COVID-19 coronavirus is transmitted from person to person. It is a virus that is similar to the common cold and the flu. So, to prevent it from spreading:
Local resources
State of Utah: https://coronavirus.utah.gov/
The Church of Jesus Christ of Latter-day Saints
Utah Coronavirus Information Line – 1–800–456–7707
National Resources
Centers for Disease Control and Prevention
Commonly asked questions, World Health Organization
Live Mic with Lee Lonsberry can be heard weekdays from 12:30 p.m. to 3:00 p.m. on KSL NewsRadio. Users can find the show on the KSL NewsRadio website and app