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Free Money Day is an annual global event held since 2011 as a social experiment and to promote sharing and alternative economic ideas.
The total of 324 events at 218 different locations in 35 countries were held since 2011 according to the official website. A total amount of US$11,476 was shared on the previous Free Money Day events. Over the years, people invented their own methods to give away money. Coffee shop and video rental owners did not charge people for their services and asked them to give the amount to a stranger. In one case a person left a £10 note on a toilet seat and tweeted that "it would be the happiest bathroom visit someone will ever have".
Official site
September 16, 2011, ''4BC'' radio interview (audio),
Sharing Is Common Cents: The Free Money Day Experience
February 28, 2012, ''Shareable''
September 27, 2011 '' Oya'' online magazine,
Compartilhando dinheiro
September 14, 2012, ''Página 22'' (Portuguese language) September observances Economics of sustainability Social economy
Overview
The day is held annually on September 15, the anniversary of the Lehman Brothers' 2008 filing for bankruptcy. Participants offer their own money to passing strangers at public places, two coins or notes at a time. Recipients are asked to pass on one of the notes or coins to someone else. Participants can also leave money with a note at a public place where it is likely to be found by another person, or to share money digitally. Since 2020, these latter options have been encouraged in populations underCOVID-19 pandemic
The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identif ...
restrictions that limit in-person interactions.
Past events
The total of 324 events at 218 different locations in 35 countries were held since 2011 according to the official website. A total amount of US$11,476 was shared on the previous Free Money Day events. Over the years, people invented their own methods to give away money. Coffee shop and video rental owners did not charge people for their services and asked them to give the amount to a stranger. In one case a person left a £10 note on a toilet seat and tweeted that "it would be the happiest bathroom visit someone will ever have".
Rationale
Free Money Day tries to raise awareness and start conversations about the benefits of economies based on sharing, as well as inspire more critical and creative thinking about people's relationships with money and about new types of economic activities. The event is designed to help people connect with the complex issue of monetary circulation in a simple way, and inspire them to take action. It is a gateway to thinking about wider issues, includingcredit union
A credit union, a type of financial institution similar to a commercial bank, is a member-owned nonprofit organization, nonprofit financial cooperative. Credit unions generally provide services to members similar to retail banks, including depo ...
s, for-profit banking
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
Because ...
, debt forgiveness Debt relief or debt cancellation is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations.
From antiquity through the 19th century, it refers to domestic debts, in particu ...
, and universal basic income
Universal basic income (UBI) is a social welfare proposal in which all citizens of a given population regularly receive an unconditional transfer payment, that is, without a means test or need to work. It would be received independently of a ...
. The money is given without obligation; it is hoped that the event and the transactions will stimulate conversations about the role of money in society. “This event is about much more than money. It is about co-creating the futures we truly desire by building on what we know works: sharing,” said Free Money Day global coordinator, Donnie Maclurcan, a co-founder of the Post Growth Institute.
See also
*Feed the Deed Feed The Deed, also known as #FeedtheDeed, is a social media Pay it forward, pay-it-forward initiative that started in February 2014. Participants film themselves performing a creative random act of kindness, then nominate friends and family to cont ...
* GiveDirectly
GiveDirectly is a nonprofit organization operating in East Africa that helps families living in extreme poverty by making unconditional cash transfers to them via mobile phone. GiveDirectly transfers funds primarily to people in Kenya, Uganda, ...
* Heterodox economics
Heterodox economics is any economic thought or theory that contrasts with orthodox schools of economic thought, or that may be beyond neoclassical economics.Frederic S. Lee, 2008. "heterodox economics," ''The New Palgrave Dictionary of Economics' ...
* Mitzvah
In its primary meaning, the Hebrew word (; he, מִצְוָה, ''mīṣvā'' , plural ''mīṣvōt'' ; "commandment") refers to a commandment commanded by God to be performed as a religious duty. Jewish law () in large part consists of discus ...
* Post-growth
Post-growth is stance on economic growth concerning the limits-to-growth dilemma — recognition that, on a planet of finite material resources, extractive economies and populations cannot grow infinitely. The term "post-growth" acknowledges t ...
* Random Acts of Kindness Day
Random Acts of Kindness Day is a day to celebrate and encourage random acts of kindness. "It's just a day to celebrate kindness and the whole pay it forward mentality", said Tracy Van Kalsbeek, executive director of the Stratford Perth Community ...
* Room for more funding
Effective altruism is a philosophical and social movement that advocates "using evidence and reason to figure out how to benefit others as much as possible, and taking action on that basis". People who pursue the goals of effective altruism, cal ...
References
{{Reflist, 30emExternal links
Official site
September 16, 2011, ''4BC'' radio interview (audio),
Brisbane
Brisbane ( ) is the capital and most populous city of the states and territories of Australia, Australian state of Queensland, and the list of cities in Australia by population, third-most populous city in Australia and Oceania, with a populati ...
, Australia.
Sharing Is Common Cents: The Free Money Day Experience
February 28, 2012, ''Shareable''
September 27, 2011 '' Oya'' online magazine,
Germany
Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwe ...
, (German language)
Compartilhando dinheiro
September 14, 2012, ''Página 22'' (Portuguese language) September observances Economics of sustainability Social economy