GoFundMe CEO admits people are now using his platform to pay for groceries as the cost-of-living crisis spirals out of control

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

Grocery Prices Keep Rising. Frustrated Consumers Trying to Adapt…

https://www.wsj.com/economy/consumers/grocery-price-inflation-customer-reactions-346487f7

Average new car price tops $50,000…

https://www.techspot.com/news/109849-average-new-car-price-tops-50000-first-time.html

Federal Reserve Chair Jerome Powell is saying the Fed will protect the job market over fighting inflation and print money to flood the system with liquidity.
byu/TonyLiberty inFluentInFinance


Groceries Harder To Afford
byu/johnmory ininflation