GoFundMe CEO says the economy is so bad that more of his customers are crowdfunding just to pay for their groceries

[signalmankenneth]

Great job Trump!

GoFundMe’s CEO just said the quiet part out loud: in this economy, more Americans are crowdfunding groceries to get by.

The head of GoFundMe, Tim Cadogan, told Yahoo! Finance the economy is so challenged that more Americans are raising money to buy food—an arresting data point that captures the widening gap between household budgets and basic needs.

In a recent interview on the Opening Bid Unfiltered podcast with Brian Sozzi, he described a notable rise in campaigns for essentials like groceries, a shift from one-off emergencies toward everyday survival.

“Basic things you need to get through life [have] gone up significantly in the last three years in practically all our markets,” Cadogan said.

That evolution underscores the new economic reality for many Americans: persistent inflation, higher borrowing costs, and thin financial cushions are forcing many households to triage bills, juggle debt, and seek help in new ways.

Groceries as the new emergency​

Cadogan’s observation—that more people are asking strangers to help pay for staples—marks a sobering turn for a platform historically associated with medical bills, disaster relief, and community projects. When the cost of food stretches paychecks past the breaking point, crowdfunding morphs from altruism to a parallel safety net.

In previous Fortune coverage of inflation’s long tail, consumers’ coping tactics have included trading down brands, shrinking baskets, delaying car repairs, and leaning on credit cards. The shift Cadogan describes suggests those tactics have run out of runway for a growing slice of the country, especially younger and lower-income households who rent, commute, and carry variable-rate debt.

https://www.yahoo.com/finance/news/gofundme-ceo-says-economy-bad-182843671.html

 

[Lionfish]

Great job Trump!

GoFundMe’s CEO just said the quiet part out loud: in this economy, more Americans are crowdfunding groceries to get by.

The head of GoFundMe, Tim Cadogan, told Yahoo! Finance the economy is so challenged that more Americans are raising money to buy food—an arresting data point that captures the widening gap between household budgets and basic needs.

In a recent interview on the Opening Bid Unfiltered podcast with Brian Sozzi, he described a notable rise in campaigns for essentials like groceries, a shift from one-off emergencies toward everyday survival.

“Basic things you need to get through life [have] gone up significantly in the last three years in practically all our markets,” Cadogan said.

That evolution underscores the new economic reality for many Americans: persistent inflation, higher borrowing costs, and thin financial cushions are forcing many households to triage bills, juggle debt, and seek help in new ways.

Groceries as the new emergency​

Cadogan’s observation—that more people are asking strangers to help pay for staples—marks a sobering turn for a platform historically associated with medical bills, disaster relief, and community projects. When the cost of food stretches paychecks past the breaking point, crowdfunding morphs from altruism to a parallel safety net.

In previous Fortune coverage of inflation’s long tail, consumers’ coping tactics have included trading down brands, shrinking baskets, delaying car repairs, and leaning on credit cards. The shift Cadogan describes suggests those tactics have run out of runway for a growing slice of the country, especially younger and lower-income households who rent, commute, and carry variable-rate debt.

https://www.yahoo.com/finance/news/gofundme-ceo-says-economy-bad-182843671.html

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Fuck you asshole. You supported the assassination of your president so, fuck you!

 

[Hawkeye10]

Things are getting worse in a hurry....Regime media and the political leadership and the financial experts are mostly silent.

 

[Stone]

Govt Covid response.......Print trillions in Monopoly money.......Send payments out to people and allow them to not pay their rents and mortgages, send truckloads of cash out to PPP recipients in free loans that never have to be paid back,.....DEMAND that those on the lowest rung on the work ladder flipping burgers at jobs meant for high school kids be paid at least 20 bucks and hour,........Gee,....I cant imagine why the costs of good and services have gone up!

The left = Dumbest Mo fo's this world has ever produced. Not even a close second.

 

[Hawkeye10]

Govt Covid response.......Print trillions in Monopoly money.......Send payments out to people and allow them to not pay their rents and mortgages, send truckloads of cash out to PPP recipients in free loans that never have to be paid back,.....DEMAND that those on the lowest rung on the work ladder flipping burgers at jobs meant for high school kids be paid at least 20 bucks and hour,........Gee,....I cant imagine why the costs of good and services have gone up!

The left = Dumbest Mo fo's this world has ever produced. Not even a close second.

It looks like creating and then injecting into the economy massive amounts of money in order to prevent the collapse of the global (Western) financial system was one of if not the main purpose of COVID.......the overlords needed an excuse.....and cover....the people must not figure out that the whole thing is headed down the drain......very bad times ahead.

Now they are desperate to get us enslaved before we figure out what is going on.....and before the economic collapse which is underway is noticed.

 

[Stone]

Now they are desperate to get us enslaved before we figure out what is going on.....and before the economic collapse which is underway is noticed.

Problem is,....some of us knew what was going on 40 years ago already and tried to warn others for their own good only to have those warnings fall on deaf ears. Now that we have FINALLY had somewhat of a great awakening in the last 5 to ten years some of us are like...." you know,...that's really nice and all that you finally got your asses out of bed but where THE FUCK were you 40 years ago when we MAYBE MIGHT have been able to actually do something about it?" What's coming has been well earned. There is no sympathy for those who fiddled while Rome burned all around them. Yeah,....fiery but mostly peaceful is right.

 

[T. A. Gardner]

Great job Trump!

GoFundMe’s CEO just said the quiet part out loud: in this economy, more Americans are crowdfunding groceries to get by.

The head of GoFundMe, Tim Cadogan, told Yahoo! Finance the economy is so challenged that more Americans are raising money to buy food—an arresting data point that captures the widening gap between household budgets and basic needs.

In a recent interview on the Opening Bid Unfiltered podcast with Brian Sozzi, he described a notable rise in campaigns for essentials like groceries, a shift from one-off emergencies toward everyday survival.

“Basic things you need to get through life [have] gone up significantly in the last three years in practically all our markets,” Cadogan said.

That evolution underscores the new economic reality for many Americans: persistent inflation, higher borrowing costs, and thin financial cushions are forcing many households to triage bills, juggle debt, and seek help in new ways.

Groceries as the new emergency​

Cadogan’s observation—that more people are asking strangers to help pay for staples—marks a sobering turn for a platform historically associated with medical bills, disaster relief, and community projects. When the cost of food stretches paychecks past the breaking point, crowdfunding morphs from altruism to a parallel safety net.

In previous Fortune coverage of inflation’s long tail, consumers’ coping tactics have included trading down brands, shrinking baskets, delaying car repairs, and leaning on credit cards. The shift Cadogan describes suggests those tactics have run out of runway for a growing slice of the country, especially younger and lower-income households who rent, commute, and carry variable-rate debt.

https://www.yahoo.com/finance/news/gofundme-ceo-says-economy-bad-182843671.html

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This is just a logical fallacy. To be exact, it is a case of Affirming the Consequent.

People are using GoFundMe to try and pay for groceries. Therefore, the economy is bad. There is no way to conclusively reach that cause and effect without far more information about those who are using this method to try and pay for groceries. Thus, it is, as presented, a logical fallacy.

For example, about 26% of all Americans currently live far beyond their means. That is, they are spending more than they earn on a regular basis. Someone doing this might be inclined to try GoFundMe to gain additional funds. That isn't a result of a poor economy but rather poor choices by the person trying to get funded.

The Alarming Rise of Overspending: Why 26% of Americans Are Living Beyond Their Means

More than a quarter of Americans say they spend more than they make, one of a number of metrics in recent surveys that paint a worsening picture of the financial well-being of U.S. households.

www.investopedia.com

What percentage of people live beyond their means?

What percentage of people live beyond their means? - 2025 - Research indicates that approximately 60% of Americans live beyond their means, often relying on credit cards and loans to sustain their lifestyles. This trend may stem from societal pressures and the temptation to maintain a certain...

finances.blog-facil.com

Where Americans Spend Beyond Their Means - The Money Coach

Discover the top U.S. cities where residents spend beyond their means, as highlighted by Upgraded Points' study. Learn about the financial strain Americans face and how essential expenses surpass income benchmarks in key metropolitan areas.

askthemoneycoach.com

Now, we could parse through those begging for grocery money on GoFundMe and find out where they live. If they are heavily concentrated in cities known to have a high number of people living beyond their means, this would be corroborating data that contradicts the economy conclusion.

California, Florida, and New York top the list, almost overwhelm it, as being the states where people tend to live beyond their means. This too would be corroborating evidence.

Poor financial ability and planning is more likely a culprit here too.

Living Paycheck To Paycheck Statistics 2024

As living expenses in the U.S. continue to rise and wages struggle to keep up, it’s unsurprising that Americans of all generations are having a hard time financially. For many, this means living paycheck to paycheck. But what does it really mean to live paycheck to paycheck, and what underlying f

www.forbes.com

So, on the whole, the CEO of GoFundMe is talking out his ass here.

 

[Hawkeye10]

This is just a logical fallacy. To be exact, it is a case of Affirming the Consequent.

People are using GoFundMe to try and pay for groceries. Therefore, the economy is bad. There is no way to conclusively reach that cause and effect without far more information about those who are using this method to try and pay for groceries. Thus, it is, as presented, a logical fallacy.

For example, about 26% of all Americans currently live far beyond their means. That is, they are spending more than they earn on a regular basis. Someone doing this might be inclined to try GoFundMe to gain additional funds. That isn't a result of a poor economy but rather poor choices by the person trying to get funded.

The Alarming Rise of Overspending: Why 26% of Americans Are Living Beyond Their Means

More than a quarter of Americans say they spend more than they make, one of a number of metrics in recent surveys that paint a worsening picture of the financial well-being of U.S. households.

www.investopedia.com

What percentage of people live beyond their means?

What percentage of people live beyond their means? - 2025 - Research indicates that approximately 60% of Americans live beyond their means, often relying on credit cards and loans to sustain their lifestyles. This trend may stem from societal pressures and the temptation to maintain a certain...

finances.blog-facil.com

Where Americans Spend Beyond Their Means - The Money Coach

Discover the top U.S. cities where residents spend beyond their means, as highlighted by Upgraded Points' study. Learn about the financial strain Americans face and how essential expenses surpass income benchmarks in key metropolitan areas.

askthemoneycoach.com

Now, we could parse through those begging for grocery money on GoFundMe and find out where they live. If they are heavily concentrated in cities known to have a high number of people living beyond their means, this would be corroborating data that contradicts the economy conclusion.

California, Florida, and New York top the list, almost overwhelm it, as being the states where people tend to live beyond their means. This too would be corroborating evidence.

Poor financial ability and planning is more likely a culprit here too.

Living Paycheck To Paycheck Statistics 2024

As living expenses in the U.S. continue to rise and wages struggle to keep up, it’s unsurprising that Americans of all generations are having a hard time financially. For many, this means living paycheck to paycheck. But what does it really mean to live paycheck to paycheck, and what underlying f

www.forbes.com

So, on the whole, the CEO of GoFundMe is talking out his ass here.

Few people are in a better position to know how the American people are doing economically than the GFM CEO.

Run from this fact if you must.

 

[Ross Dolan]

I see that the MAGA morons are still blaming the poor for being poor. And then calling others stupid.

Oh, well, the scum will always rise to the top...and here it has.

Now...gotta get that scum off the top and into the garbage heap where it belongs.