How To Raise Money From Friends, Family And Community (Fund Raising)
Before fund raising from your friends, family and community, it is wise to explore all your resources to see if you have tapped out all of the financial alternatives that may be available to you. Our article about How To Deal With A Financial Crunch tells you how.
As you explore fund raising ideas, be aware that fund raising for yourself can be very difficult emotionally. It may help to keep in mind that you didn't ask for your health condition or the way health care works in our country.
Friends and Family
One avenue to explore is obtaining money from family and friends. As you will see in our article on the subject , one of the main questions becomes how to borrow money will not interfering with your relationship. Experience indicates that the key to obtaining money while keeping a relationship is to be straight forward about whether you need the money as a loan or as a gift. If it's not likely that you'll be able to repay the money, it's a gift.
On Line Fund Raising
Another successful avenue is fund raising on line. The downsides to online fund raising including the following:
- You have to disclose personal information to the public
- Peer-to-peer interest rates are generally higher than mainstream banks
- There are fees to pay
Online fund raising alternatives to consider are the following:
- Telling about your need on your Facebook page or via Twitter. If you use this method, include a preferred means for people to make a donation such as PayPal .
- Use a fund raising site (crowdfunding).
- Posting your need is free.
- You set a fund raising goal. It is advisable not to ask for too much. At some sites if you fall short of your goal, you will get nothing.
- Some sites connect user accounts to Twitter and Facebook.
- Before signing on to a site:
- Do crowfunding research for do's and don't. For example, see: wikihow.com/Crowdfund
- Check: The site's fees; how quickly the money raised is transferred to you; whether you get any funds if you fall short of your stated goal.
- Sites of which we are aware that permit fund raising to help with medical and other expenses:
Other Fund Raising Ideas To Consider
- Have a garage, yard or tag sale. (To learn how, click here.)
- Give a fund raising party. (To learn how, click here.) If you are uncomfortable giving the party yourself, ask a family member or friend to do it for you.
- Think about whether your situation could be of interest to the general public. If so, contact the local press. We tell you how.
- Create your own fund raising event to raise money by doing something yourself or by getting others to join you. For example, a bike ride, walk or run longer than you would usually do. (A do-it-yourself event could be of interest to local t.v. stations which are always looking for action shots).
- Create a funny video for YouTube or other site that gets a lot of traffic explaining your situation and asking for donations. www.YouTube.com
- If your story is out of the ordinary, write a brief e mail describing your situation and requesting donations. Send it to your friends with the request that they send it to 10 of their friends with the request that they send it to 10 of their friends. It may be helpful to target your letter to people in a large group to which you belong, such as a religious group.