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Using PayMaya to Raise Funds for a Loved One in Need

Apr 6, 2021 6:44:00 PM

There are a lot of things you can do to prepare for emergencies. For instance, you can start living a healthy lifestyle to minimize the risk of getting sick and thus avoid costly hospital visits. You can also set-up an emergency fund to deal with the financial repercussions of unforeseen events.

However, no matter how prepared you might be, you can’t completely prevent crisis situations from happening. Nature is a powerful force and the human body can be unpredictable. In addition, not everyone may be capable of taking the necessary steps to brace for emergencies. For example, you may have loved ones who do not have enough funds to pay for their medical bills. It’s also possible that they have some funds saved up, but the amount is not sufficient to cover everything. In this case, all you can do is to adapt and find ways to overcome a financial crisis.

Raising Funds for Your Loved Ones

One of the simplest ways to help your loved ones in need is to raise funds for them. Thanks to technology, the process has been made simpler. Through the help of e-wallets like PayMaya, you can send money instantly to their own accounts.

What’s even better is that you and your loved ones don’t need bank accounts to use PayMaya. All you need is an active mobile number to create an account and start sending and receiving money.

Ways to Handle Fundraising Through PayMaya

There are different ways you can approach fundraising using PayMaya. The most straightforward approach is to have the money sent straight to your loved one’s bank or PayMaya account. It’s a good idea to generate a QR code to further speed up transactions. It also prevents any errors in inputting the account number.

You can also direct the money first through your own account and then hand it over to them after you’ve collected the desired amount. One of the reasons to do this is to relieve them of the mental stress. If they’re already worrying about their expenses, they may not be in the right state of mind to handle the details of a fundraising activity. By acting as the “collector,” you can take care of the details such as tracking the progress of the donations, taking note of significant contributors, and turning over the funds.

If you prefer not to share personal bank accounts, you can also choose to set-up a new PayMaya account dedicated to the fundraising activity. Again, you only need an active mobile number and a smartphone to sign up. Creating a separate account to raise funds also ensures that money you receive won’t get mixed up with your personal monthly budget. Turning over the final amount is also easier because there’s no need to determine which transactions are which—everything in the account is for the fundraising.

Why Giving Money Can Be the Best Option

When it comes to helping your loved ones, raising funds for them is often the best and sometimes the only way to help. You can certainly collect in-kind donations, particularly in cases where their belongings have been damaged or destroyed. For example, if there’s a big fire or severe flood, new and old but still usable clothes are definitely helpful and very much welcome.

However, there are many more situations when cash is more ideal. This is particularly true when a loved one needs to undergo a medical procedure, requires regular medication, or has passed away. Raising funds can also give your loved ones more agency because you are giving them the power to decide what to do with the donations.

How to Promote Your Fundraising Activity

In order to raise more funds for your loved ones, it’s helpful to promote your fundraising activity. Social media is the best platform for this. Create a post with a simple, easy-to-read visual, which includes the account details and the QR code/s. With your loved ones’ permission, provide some background as to why you’re asking for help.

You can also include photos of your loved ones because some people might want to “put a face” on those they’re helping. Again, ask permission first. Confirm if your loved ones are comfortable with sharing their pictures and their story before doing so.

Finally, it’s wise to provide a contact number for those who have any questions or clarifications. Assign one or two contact persons to field calls and texts. If you set-up a social media page, make sure that there’s someone to respond to messages.

Dealing with emergencies can be stressful, even more so when you or your loved ones are caught unprepared. The good thing is that technology has made it easier to offer help. Hopefully, this simple guide can help you facilitate a small fundraising project.

Of course, aside from raising funds, it’s also important to offer emotional support. Be there to lend a listening ear. Having someone to talk to who wouldn’t judge goes a long way towards easing someone’s mind and heart.

Take care!

Topics:Financial Literacy