Crowdfunding is a relatively new way for people to raise money.
People mainly crowdfund through various internet-mediated registries, such as Kickstarter, GoFundMe and Indiegogo.
When does asking for money cross the line?
I think crowdfunding is great; it’s a way for people to get involved and put their money where their mouth is if they like the premise of something. Kickstarter for example has had loads of success stories of people raising huge amounts of money to fund their projects.
There’s also been a lot of failures too. People that have raised their money, then basically blown it all on drugs and prostitutes. No exaggeration, that’s actually happened.
Many places let business owners crowdfund. It’s a refreshing way for people to raise money, but it’s notoriously difficult. For ever one success story there are hundreds that have flown completely under the radar.
I’ve only ever seen GoFundMe on Facebook. People raising money for their charity walks and all that sort of carry on. It sure beats the old days of people knocking on your door with a sponsor sheet!
I recently saw someone promoting their GoFundMe page that was raising money for them to go back to university. They weren’t in some dire situation. They weren’t desperate. They just decided to see if other people would chip in for them instead of going down the student loan route.
That doesn’t sit too well with me.
Some poor American setting up a GoFundMe to help pay their medical bills is a great idea. Being left in crippling debt because you had the audacity to need medical treatment is absurd.
Setting up a GoFundMe because you’d prefer to take money off people instead of saving up is just cheeky.
I’m glad that as of now only a couple of people have given this person money.