If you look around, you’ll see many people under stress. The main cause? In my experience, money. 

Not the money to buy a huge villa with a pool, a new Tesla, or something even more luxurious, but enough to afford basics like groceries, while debt is piling up. 

A July poll from the Associated Press-NORC Center for Public Affairs Research confirms that 53% of Americans experience the necessity of food as a major source of stress. For another 33%, grocery costs are a minor source of stress. 

A new survey from Intuit Credit Karma, although focused on holiday shopping, reveals other important statistics: 

• 47% of Americans are stressed about affording the holidays.
• 40% are in debt. 
• 31% already owe up to $5,000. 
• 55% of parents anticipate their kids will ask for more than they can afford. 
• 61% are seeking deals earlier than usual. 

More recently, the head of the GoFundMe platform shared even more alarming data, revealing serious economic challenges. 

GoFundMe’s CEO said more users are asking for help to cover basic expenses.

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GoFundMe CEO says more people seek funding to pay for groceries

GoFundMe CEO Tim Cadogan was a guest on the Opening Bid Unfiltered podcast on Oct. 13, during which he revealed that a growing number of users are asking for help to cover essential needs, such as utility bills and groceries. 

 “I think maybe one indicator that’s interesting, we have a group of, sort of a category of fundraising we call essentials. Which are things like rent, utility bills, car payments, sort of your basic things you need to get through life. That category has gone up significantly in the last three years in practically all our markets,” Cadogan said. 

Asked to confirm that people are actually using GoFundMe to raise money for groceries, Cadogan explained that “very sadly,” they are. 

“Yeah, we are seeing that more and more,” he said. 

Stigma is a challenge for potential GoFundMe users

Later in the interview, Cadogan talked about how people are often ashamed to start a GoFundMe campaign because no one likes to ask for help, especially in public.

According to Cadogan, GoFundMe illustrates the difficulty we face as humans when requesting support. That’s the platform’s biggest challenge. 

Despite the embarrassment, the number of people asking for help to cover necessities is growing.  

Food prices are rising 

High food prices, inflation, and tariffs are all serious concerns that have pushed people to tighten their wallets or ask for financial assistance. 

According to a recent CBS News poll, two-thirds of Americans expect prices to continue to rise. 

This summer, beef, an essential U.S. food staple, saw a huge price increase, reaching $6.12 per pound. 

In August, the all-items Consumer Price Index (CPI), a measure of economy-wide inflation, increased 2.9% over the last 12 months, according to data from the U.S. Bureau of Labor Statistics. The index for food at home rose 2.7% over the 12 months ending in August. At the same time, the meats, poultry, fish, and eggs index rose 5.6%. 

GoFundMe offers emotional, psychological support 

GoFundMe, the for-profit crowdfunding platform that enables people to raise money for various needs, from celebrations to difficult scenarios like recovering from accidents and wildfires, was founded in May 2010. 

Originally called “CreateAFund,” the platform later changed its name to GoFundMe.  

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Cadogan shared that in 15 years, the platform has managed to raise $40 billion. There are 200 million people who use GoFundMe across various markets. 

In the United States, 90% of adults are aware of the platform. Moreover, about a third of adult Americans have used GoFundMe to help each other. 

Cadogan also stressed the importance of the platform in providing something else, in addition to finance. 

For people who have gone through unfortunate circumstances, such as losing a house due to a wildfire, what matters most is not the actual amount of money raised, but the fact that they are getting the support they need. 

“GoFundMe was a blessing for my daughter and her children after their house fire. It was simple for me to set up and easy for people to donate. I was able to thank donors immediately. We are very grateful for this service,” reads one of many testimonials on the platform. 

Cadogan stressed that “The moral and emotional support that people derive from that is immense.” 

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