Bartering: an age-old way to save money

Remake America

Low on cash? You don't necessarily need it, personal finance expert Farnoosh Torabi says. You can barter.

Bartering is a tradition in which the only requirement is matching a service or product with a need. And bartering is free, so it can help boost your budget.

Torabi says there are some online services that bring prospective barterers together. She also suggests would-be traders can host a swap party where each attendee brings a few goods to pitch. But successful bartering comes down to creativity, Torabi says. So if you don't have things to trade, you can also barter professional skills or knowledge in exchange for babysitting or tutoring for the kids.

Done correctly, bartering is a win-win for the participants. And it can bring your community and neighbors closer together.