Fundraising for Personal Debt

When struggling financially, you may feel like you're drowning in debt. However, the Internet has expanded fundraising opportunities for people to raise the money they need to overcome financial hardship. Although fundraising often is used for charities, it also can be used liberate yourself from personal debt. An understanding of your personal fundraising options could help you navigate your way to a debt-free life.

Professionals and entrepreneurs often use crowdfunding to raise money for their business projects or to help them launch. Other individuals use fundraising to prevent the debt involved in achieving life goals like traveling the world or getting a college education. Fundraising also can be used to help you pay for your current debts like credit card bills and medical expenses. Fundraising expert and author Marc Pitman notes that people are more generous than generally thought and that all it takes to receive assistance is to ask a person clearly and respectfully.

Fundraising can be conducted online, or in person through bake sales or tip jars. Regardless of the medium, you need people to help you raise funds. Market your fundraiser with the use of fliers, signs, money jars, t-shirts, e-mails, word-of-mouth support and social networks. Tell your personal story and explaining why you need that money in order to better relate to your donors. These stories, especially when related to a larger goal, can inspire people to contribute money and even help you market.

The advent of the Internet has enabled a wider range of fundraising possibilities with websites like GoFundMe and Indiegogo. These sites allow individuals to raise money for a variety of causes, including attempts to eliminate debt. School loans, hospital expenses, and other personal financial needs can be met by creating a "campaign" to raise money for your debt and sending them out to your friends and family through e-mail and social media.

Holding community events to help you raise funds is a fun way to get family and friends involved in ensuring your financial stability. Events can be hosted at a supportive place of business or at your own home. Possible ideas for fundraising include car washes, bake sales, or local events at restaurants, cafes or entertainment venues. Although not everyone will have money to donate, some of your friends and family can help in other ways by providing item or service donations or simply by spreading the word.

Reselling used items can be a thrifty way to earn cash for an upcoming bill or debt repayment while clearing out your old, unwanted items. Although yard sales and garage sales are traditional methods for clearing clutter and earning extra money, the Internet provides additional means to sell used goods. Large online facilitators like eBay and Amazon provide the space for you to sell your stuff to millions. Other websites are more tailored to those who are seeking to sell and buy used goods of a particular niche.