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Struggling Families Use Crowd-funding to Finance Funerals

Crowd-funding is now being used to generate funds to pay for funerals which can cost up to $10,000 for a standard ceremony. Traditionally the capital-generating method has been used by small businesses and entrepreneurs to raise funds for a specific project from numerous parties. Some businesses have sold small portions of their assets to multiple funders as an incentive for investors to get involved. There are now several crowd-funding platforms, including Giveforward, DonationTo, and Graceful Goodbye, which offer people the chance to ask potential givers for support But for most crowd-funding projects, the benefit to the creditor is knowing they have contributed to helping a company or person achieve a meaningful goal. The benefit to those supporting a family’s funeral costs might simply be peace of mind that they are helping people at a difficult and desperate time. There are now several crowd-funding platforms, including Giveforward, DonationTo, and Graceful Goodbye, which offer people the chance to ask potential givers for support. Graceful Goodbye is a crowd-funding site dedicated to remembering loved ones – and helping to create a ‘memorial fundraiser’. Founded by Josh McClung, a finance expert from Chicago who has formerly worked at Lehman Brothers, Morgan Stanley, KarpReilly, says […]

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