Sanguine Tenacious Tidings

Lets Leave a Footprint

Tuesday, May 10, 2016

Has the practice of crowdfunding gone too far? Share some positive and/or negative examples you're familiar with.

I’m not sure what anyone would consider too far? Since it is a group of people fixing a way to fund needed endeavors. I personally think it could be a way to help people fund a lot more projects than are being funded now.

A consideration however, is the fact, that if a fund is not run honestly: if there are not strategically placed rules, some people might run off with a lot of money while others might lose an investment.

I saw someone once on the news, who asked people to contribute $1 to his school loans so he could pay them off. I thought he was brave to ask. He was rewarded by enough contributions to pay off his loans. Another story about a man walking a long way to work and back. A college boy saw the need and started a fund on the internet to buy him a car. I was encouraged to see it worked.

Like lots of ideas, it is workable if used properly. I would love to join a fund working specifically to pay off mortgages under 100,000 dollars. Or, one working toward some other worthwhile debt paying objective. We might get a lot of students out of debt or just pay for college?

Happy Trails