Everyone needs money. But people don’t always feel comfortable talking about it let alone asking for it. In fact, asking for money can feel tricky, tacky, and sometimes, even taboo.
Setting up a cash registry, however, is a smart way to request and collect money in a way that feels more comfortable for everyone involved.
Whether you want to gather donations, cash gifts, or crowdfund for a special project, setting up a cash registry with Braid creates a seamless way to collect money.
Keep reading to see why Braid takes the cake when it comes to cash registries, how to set one up, and why you and everyone else will enjoy this effortless arrangement.
What’s a cash registry?
A cash registry is a place where people give cash gifts. Weddings are a popular occasion for cash registries and have given rise to many cash registry websites. But they’re also a great fit for a wide range of celebrations and events.
3 reasons people prefer a cash registry
If cash registries are new to you, you might be on the fence about setting one up. Here are three reasons why you shouldn’t hesitate.
1. A cash registry provides meaningful support
There’s a debate around giving money as a gift. Some research finds that cold hard cash demonstrates a lack of intimacy. Others deem it a lazy cop-out.
But many people like receiving money - especially when they ask for it. Behavioral research from Stanford University backs this up, showing that people appreciate gifts more when they’re expecting them.
One way to make cash gifts feel more personal is to share why you want money in the first place. What do you plan to use it for? How will it improve your life? By sharing your plans and dreams, you turn “cold hard cash” into a meaningful and enriching gift.
2. They save time and stress
There’s a societal belief that a good gift needs to be well-thought-out, carefully considered, painstaking, etc.
But is that true?
Sometimes, the best gift is a gift the recipient will like and appreciate. By setting up a cash registry, you communicate that cash is A-okay with you and that people can feel good about giving it.
A cash registry with Braid also saves people time and stress. They can add money in a few minutes right from their phone. They don’t need a Braid account. We’ll show you how that works below.
3. They provide financial support where it’s needed most
Cash registries are arguably the best way to give and receive money as a wedding gift, but as you’ll see, there are many other scenarios where a cash registry is perfect.
For example, instead of receiving physical gifts, people ask for cash to offset:
- Home renovation projects
- Honeymoon plans
- A big move
- Medical bills
- Post-graduate plans, or
- Gap year plans
Sometimes, people prefer cash gifts for special occasions, like:
- Graduations, or
- Religious milestones
Cash registries are also an awesome place to garner support for an important cause. People use them to:
- Collect donations
- Fundraise, or
Ready to set up your free Braid Pool? Click here to get started!
How to set up a cash registry with Braid
Planning a party, earning a degree, or spearheading a fundraising campaign takes a significant amount of time and effort. You probably don’t have much bandwidth left to set up a detailed cash registry website.
Fortunately, you don’t have to with Braid. As you’ll see, setting up your cash registry is effortless. Check it out and be good to go in a couple of minutes.
What is Braid?
Braid is a new place to collect, manage, and spend money. Each Braid Money Pool is designed for group use. So, you can share it with others if you want. Braid is free to download and free to set up. Here’s what you do.
1. Set up your Braid pool
Getting your pool up and running is fun. Start by naming your pool and customizing the Pool Link.
The Pool Link is what you share with people so they can contribute. Make it easy to remember by including your name, nickname, or anything else that resonates with your contributors. For example, “Joe and Cara’s HoneyMoon Fund.”
2. Make your Braid Pool personal
Take “cold” and “hard” out of cash by personalizing your Braid Pool. In addition to giving your pool a great name, and customizing your Pool Link, create a compelling pool description.
In a few words, explain how funds will be used and how they’ll help you reach an important goal. You can also give your Pool Link a personal touch by adding a picture.
Setting up your Pool Link only takes a couple of minutes and it’s so much easier and faster than setting up a cash registry website. The good news is that it achieves the same effect:
When your pool feels personal, cash doesn’t feel abstract. And when people feel involved, they feel better about giving money.
Start a cash registry today and make it easy for people to give you money
3. Share your Pool Link
Now that your Money Pool is set up, send your customized Pool Link out into the world and start collecting contributions from family and friends.
Your Pool Link can go anywhere: in a text message or email, in social media captions, on websites, etc.
4. Collect money into your cash registry
Anyone can add money to the pool with your Pool Link and a debit card. They don't need to set up a Braid account.
When people pay via debit card, there are zero fees and you get to keep 100% of their contribution. When people contribute with credit cards, they incur a 3% fee.
Cash registry money stays in your Braid Pool from the moment you receive it to the moment you spend it with the Braid card.
Contributions never mix with your bank account. So you don't have to worry about accidentally spending them at Sephora or the grocery store.
It’s also easy to keep track of contributions with instant notifications that alert you every time someone adds money to the cash registry.
5. Spend funds directly from your pool
Another reason why Braid is an optimal choice is that it’s easy to collect and spend contributions.
With Braid, you can spend pool funds at any time with the digital debit card that comes with it.
The Braid card works everywhere Mastercard is accepted and you never have to pay overdraft fees, service fees, or monthly fees. It’s free. In addition to the digital card, you can request a physical debit card at any time, too.
The Braid card is fantastic because you can spend pool funds without transferring them to your bank account first. And as pool admin, you can give spending permissions to anyone in the pool so they can spend with you.
Do you need to set up a cash registry? Whether you’re planning a wedding, a graduation party, or a poignant fundraiser, Braid is the ideal place for your registry.
It’s where cash gifts and contributions feel effortless. And whether you’re the gift giver or the grateful recipient, it’s an arrangement that feels comfortable for everyone.
6. Invite people to your pool
The great thing about Braid is that it’s designed for multiple users. So, if you want to collect, manage, and spend money with others, you can.
Start by sending them a special invitation link. Once they download Braid and set up an account, they can join your pool. As pool members, they can manage the cash registry in various ways with you.
For example, you can set permissions for them to view transactions, share the Pool Link, spend pool money with the Braid debit card, and manage funds with you.
You can do all this from the app by tapping the Pool Settings symbol and then “Manage Members & Permissions.”