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In the U.S., some people aren’t just asking for help with medical bills or emergencies anymore, they’re crowdfunding their groceries. That’s according to GoFundMe CEO Tim Cadogan, who says more Americans are turning to online campaigns just to make ends meet.
“Basic things you need to get through life have gone up significantly in the last three years,” Cadogan told Yahoo! Finance.
For Cyprus, where cost-of-living pressures are real but social safety nets are smaller than in some larger European economies, this American trend is a cautionary tale
With inflation, higher borrowing costs, and stretched paychecks, families are finding that traditional coping strategies, swapping brands, shrinking shopping carts, and juggling credit cards aren’t enough. For many, a GoFundMe page has become a last-resort lifeline.
It’s a sobering picture of an economy where even necessities like food are starting to feel like luxuries. And while this is happening in the U.S., it raises a question closer to home: could Europe, and Cyprus in particular, see similar trends? Rising food prices, rent, and energy bills across the continent mean some households are already being forced to cut corners, rely on community support, or turn to local charities just to cover essentials.
But Cadogan also sees a silver lining. Younger, digitally savvy donors, like Gen Z and millennials, are already driving small-dollar giving online, which could transform acts of empathy into a bigger safety net. But without structural solutions, the same story of families needing to “pass the hat” could slowly creep across the Atlantic.
For Cyprus, where cost-of-living pressures are real but social safety nets are smaller than in some larger European economies, this American trend is a cautionary tale: when basic needs outpace incomes, crowdfunding stops being a novelty and becomes a measure of how tight household budgets have really gotten.
*Source: Fortune magazine
