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Most people have a day job that keeps the bills paid and their career moving forward. If you’re reading this post, you probably have a little something on the side too. It’s that “thing” that makes your face light up and gets your creative juices flowing. Hopefully it will better the world and enrich your life. We’re BIG believers in passion projects. Many times, it’s these projects that solve real problems, and make people’s lives a little easier and more worthwhile.

If you’re working toward turning that idea of yours into a reality, odds are you’ll need some funds along the way. Here are a few suggestions on how to get moving in the right direction:

Pinch a few pennies:

Saving up your own money to self-fund your passion project is a great way to go. Get creative and stay focused. Know that your end goal of using the money meaningfully is a big incentive to be disciplined. Every little bit helps. You may even surprise yourself!

Around the house: Turn off unnecessary things. Cancel unneeded services. Care for your possessions to ensure they last. Use energy saving light bulbs, replace your car’s air filter and oil regularly, resole your shoes, and read the labels on your clothes to wash properly. Stop for a second before you hit “Place Your Order” on that online purchase. Make sure you really need it first!

Out and about: Make shopping lists (and stick to them!). Eat at home one more night each week. Pack your lunch for work. Ride your bike instead of driving. Take public transportation to save on gas and wear and tear on your car.

Take control of your bills: Negotiate rates with banks, credit cards, and other monthly expenses. Scrub your accounts and get rid of hidden fees and unneeded memberships.

Little lifestyle changes: Reduce how much you buy, reuse what you can, recycle the rest. Get your money’s worth out of what you have already purchased. Repurpose what you already own.

Get some outside funding:

Depending on how much you need to get the ball rolling on your project, or your personal financial situation, you may need more money than you’re able to pull together alone. And that’s okay. There are plenty of options to get assistance elsewhere.

Crowdfunding: Crowdfunding is collecting small amounts of money or other resources from lots of people. Oh, the power of the internet! The most common sites are Kickstarter, GoFundMe, and Indiegogo, but there are over 600 platforms worldwide. The benefit? Crowdfunding can be an excellent mechanism for accessing capital, particularly if you have an inspiring story as to why you’re working toward this goal. A word of caution: Be certain you’ll be able to deliver whatever reward you decide to offer to your donors. Otherwise, you may set yourself up for major repercussions.

Microloans: Microloans are smaller dollar amounts typically offered to entrepreneurs and smaller businesses for capital. The funds tend to be distributed by community-based lenders, who also may provide additional assistance, expertise, and educational tools to people just starting out.

Friends and family: While this seems like the easiest way to go, be very careful with asking your loved ones for money. If you’re unable to follow through or are forced to put your passion project aside, questions may arise. Sometimes friends and family should stay just that. If you decide to go this route, make sure you’re also working toward cutting back and saving yourself. Your family will know if you’re spending lots of money, which will put you in an even more awkward spot.


Best of luck with taking your passion project to the next level! If you’d like to chat more about your personal finances or how to reach your goals, don’t hesitate to contact us. Take our 5-Minute Risk Assessment Quiz to get started.