Sunday, October 4, 2015

Crowd Funding for Life Events

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Life is full of personal events that can be as costly as they are significant, such as the birth of a new baby. Thankfully, you can get help to cover the costs of your significant life events and even some of the lesser yet still important events, such as your daughter’s sweet 16 party, or even her college education. If you are curious to know how crowd funding can help you and your family with your life events, the following information will help.

How It Works

Crowd funding is a fundraising tool that utilizes the power of the Internet to raise money for anything from a trip abroad to inventing an item or starting a new company. You need to register on a crowd funding site, like Plumfund, and follow the directions to make your pitch to the site’s members. If they like it and decide they want to contribute, they can give you anything from whatever the site minimum is to potentially thousands of dollars or more per donation. In most cases, people will donate between $5 and $20, which can add up very fast if you have thousands of people doing the same thing.

School Trips, Sports Camps, Birthday Parties and More

Your children are precious gifts, and you want to make her happy. Over the years, that can include birthday parties, summer camps, graduation parties, college, first cars, and other life events. The cost of any one can run anywhere from a few hundred dollars to tens of thousands. Instead of bearing the entire cost or telling your kids to do without, you can start a crowd funding campaign that could raise a surprisingly large sum in a short period. Want to take your daughter and five of her best friends to Disneyland for her birthday? You likely could raise the money with a crowd funding campaign. Through the generosity of your fellow online philanthropists, virtually any reasonable request stands a strong chance of winning funding.

Crowd Funding for Crisis Costs

Even when you take all reasonable precautions, bad things can happen, from health problems to car crashes, and the costs can add up fast, even with insurance protection. But with crowd funding, you can appeal to people’s generous nature and raise money that could pay for critically important health care procedures that you or, Heaven forbid, your child might need. Money doesn’t have to be a limiting factor when it comes to dealing with your crisis moments, and with online funding mechanisms, it doesn’t have to be.

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Crowd Funding Growth

A few years ago, very few people were aware of crowd funding and how it can help them. But since 2010, it has grown from about $880 million in funds raised during a year to being the single largest source of venture capital. More than $16 billion was raised during 2014, and current estimates expect that number to double to more than $34 billion dollars this year and even more next year. People like to invest in others, whether it’s to start up a new business, invent a new consumer product, or help you pay for your kids’ college tuition, and it takes only a little time to set up a crowd funding account and start a campaign. When people are motivated in large numbers, even small donations add up fast, especially if you only have modest fundraising goals that stand a reasonable chance of being realized.


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