If you are like me, you have probably seen a few GoFundMe campaigns appear on your social media feeds. Fundraising platforms, like GoFundMe, are now very popular, and have provided a means through which individuals can solicit their friends and family members for money.
There is nothing inherently wrong with using fundraising platforms like GoFundMe. In fact, they can be great tools for individuals. But there are times when it is best to hold off on the fundraising – times when “easy money” isn’t what you really need and what your friends really don’t want to give you.
Consider NOT doing a fundraising campaign in the following scenerios:
- When you want to avoid the consequences for poor planning. The consequences of poor planning or poor decision-making can be a great teacher. The lessons learned can prevent future mistakes. The consequences for poor planning can be expensive. You waited until the last minute to buy a plane ticket, and now the ticket prices are incredibly high. The financial ramifications for poor planning should not fall on the shoulders of your friends. Learn from the consequences and don’t ask your friends for money.
- When you want to avoid the consequences for a bad financial decision. Again, experiencing the consequences of a poor decision can be beneficial for future decisions. Don’t try to run from it. You have a load of debt, but you want a dog. You bought way too much house, but you want to go on a vacation. These are not the times to reach out to your friends and family for money to help you acquire wants. Now is the time to get your finances in order so you can give generously, save wisely, and live appropriately.
- When you want to keep up with the Joneses. Constantly attempting to match or exceed the lifestyle of your friends and coworkers is a sure way to destroy your finances. Discontentment with your own lifestyle is not the best reason to start a fundraising campaign. This avoids addressing a real issue (discontentment) and it comes across poorly to your family and friends.
- When you want to avoid work. Sometimes, the means to achieving a goal is not a GoFundMe campaign, but work. Sometimes, it is working extra hours. Sometimes, it is finding a job.
There is a time for fundraising. And platforms like GoFundMe are great at helping individuals do just that. But using these platforms to evade the consequences of poor decision-making, keeping up with the Joneses, and avoiding work is a mistake. They can injure your relationship with family and friends, and they can prevent you from gaining a real understanding of money and financial health.
So be careful with your campaigns.