Are You Thinking Of Crowdfunding Your Way For That Trip?

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Travel is an important part of personal and even social growth in life and people are starting to turn to crowdfunding to be able to finance their journey to different places. There have been more and more people putting together campaigns to seek financial assistance from others to be able to fund their trip for various reasons.

There are some newlyweds who are putting up social funding projects to help fund their honeymoon trip. They are asking family and friends and even other people to put in any amount so they can take that vacation before they start going back to work. There are also some students who are planning to take up short courses or immersion opportunities in other parts of the globe and rely on other people to finance their trip.

These are situations where the need is not that immediate when compared to medical emergencies for some people or when they lose their homes due to natural calamities. There are even some shops in need of fresh capital to prevent closure and some business startups in need of funding to get started with their business ideas.

Crowdfunding a trip

There are a few things that people can do to help them improve their chances of raising the money they need for their trip. It can go hand in hand with an existing crowdfunding campaign or it can be steps to look into before setting up the project.

  • Save up for the expense. Proper planning is always a crucial role for any plan to increase its chances of success. If you want to try out an exotic destination after your wedding then it might be a good idea to save up for that trip as well just as you are saving for the wedding itself. You can even ask guests to consider cash gifts rather than risk the chance of getting different colors of the same microwave oven.
  • Ask family and friends first. Another thing to look into is that before you set up a campaign where you bring your request out to other people you do not even know, try talking to family and friends first. They might be able to give you some financial assistance for that trip that you want to take. If you do not gather the entire amount from them, you at least lower down your crowdfunding target with money from relatives.
  • Is it an absolute necessity. You need to ask yourself if the trip is an absolute necessity for you in light of the financial requirement in entails. If it is just something you want to take a break or a vacation then better save up for it. If it will result to career advancement or better appreciation of your educational path then go ahead and put that project together.
  • Have a repayment plan set. It is great to have free money but always plan as if you borrowed it and that you have a moral obligation to repay them back. Especially when you are asking money from relatives and friends, find a way to save up to be able to repay back the money.

 Refer a friend via CAT Referral Program at s.coassets.com/t54 where you get to earn 500 CoAssets Tokens (CAT) for every new member referred. Stay tuned to this channel as we will be updating you on the next upcoming CAT campaign! 

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This article is written by the Crowdfunders Editorial Team. In Asia, Crowdfunders.Asia is a leading portal on providing news related to crowdfunding, start-up, property and business. It is operated by CoAssets.com. CoAssets is South East Asia’s first listed and largest real estate crowdfunding platform. If you have any Crowdfunding news or stories to share, please email [email protected]

 

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