‘ Time is Money ‘, ‘ Time and Tide wait for no man ‘, ‘ An inch of time is an inch of Gold ‘ etc . are some of the famous quotes which we have been hearing from our elders since our childhood emphasising the importance of time in our lives, time and time again. Time has been a sparse commodity and in recent times it has become even more exclusive with jet set lives and demanding professions amidst unrealistic ambitions. Time is money as we say, but still even money can’t buy time. So the question arises can we protect time, can we save it, can we bank it ?. The answer is a surprising ‘ Yes ‘.
Time can be banked and the way forward has been carved out by the Swiss Ministry of Health who have not only envisaged a Time Bank, but have also implemented it with good intentioned servitude in the forefront of the programme.
How does it work ?
The Time Bank Programme in Switzerland is based on the concept of Old Age Assistance. Under the programme young people can volunteer to look after the elderly who need assistance and the quantum of time which they spend with them shall get credited to their Time Bank account. The assistance could be any service like consultation, gardening, cleaning, tutoring, medical help etc which consumes time. The time accumulated in the bank account would be available for withdrawal against similar services when the volunteer needs the same in his/her old age.
The idea of providing social security in terms of time in the old age has attracted lots of volunteers to this programme. Apart from the social security under the plan there is also an underlying attempt to bridge the gap between the young and the old and motivate the young to help out the elderly in their hour of need. A good deed done today will surely help out the young in their twilight years. Also there is a monetary saving to it as the services are voluntary and are bartered with Time only. There is no monetary transaction.
The Future
The programme in my opinion is exceptional and unprecedented and in the future has the potential to influence the society in a big way. However, the evolution of the Time Bank is still in a nascent stage and its efficacy would be tested over time. The benefits would also be measured and compared with the laid down objectives. In Switzerland Time Bank initiatives have been rolled out in Zurich, Basel, St Gallen, Fribourg etc. Several other countries too are working over this idea which is in various stages of implementation and I am certain they would be coming with their own Time Banks sooner than later.
It’s time we ‘ Bank’ time….and have an account.