We all know that time is money, but the town of Ithaca, New York is the first community to take that phrase and, well, put their money where their mouth is.

Their locally-use only, redesigned cash is called Ithaca Hours:

Ithaca Hours is a local currency system that promotes local economic strength and community self-reliance in ways which will support economic and social justice, ecology, community participation and human aspirations in and around Ithaca, New York. Ithaca Hours help to keep money local, building the Ithaca economy. It also builds community pride and connections. Over 900 participants publicly accept Ithaca HOURS for goods and services. Additionally some local employers and employees have agreed to pay or receive partial wages in Ithaca Hours, further continuing our goal of keeping money local.

...unlike US dollars when you spend an HOUR you know it is going to stay in our community, keep circulating, supporting our economy and maybe even end up right back in your pocket.

This was spotted on the website of the Dollar ReDe$ign Project, which recently held a design competition for U.S. currency. Some of the entrants/winners are pictured below, and you can check out the rest here.