Pool Money??

Someone says to you ‘let’s get the group together and pool money for our upcoming trip, birthday gift, party, etc.’

You start thinking of the logistics of collecting money from your group, but can’t stand the thought of putting all the money that you’ve collected into your bank account. It feels so messy, so unorganized and hard to track who paid you what.

Sure, ‘it all comes out in the wash’, but it is also nice to know when bills are split evenly and fairly, there are no unsaid feelings about how the money was split.

You’re thinking - there has to be a better way of going about pooling money. Especially since you seem to be the regular go-to person for money management.

We all share money, and most weeks with multiple people, if not groups of people. Sometimes it’s managing money with your partner, sometimes it’s to purchase a group gift for your coworker, sometimes it’s for your intramural sports team, sometimes it’s expenses you share with your roommates, sometimes it’s dinner out with your friends, and sometimes it’s to fund your local charity event. You get the point. We share, aka pool money A LOT.

The problem is that although pooling money has existed since the beginning of currency, it has not evolved all that much. Most of the time, sharing money with groups of people involves a lot of shuffling money from multiple accounts and apps, tracking who has paid you what, receipts and inaccurate bill splitting. Yes, we have online banking and person-to-person payment apps, but none that allow you to collect, manage and spend money with multiple people, all in one place. Until Braid Pools.

At Braid, we’ve set out to be the best place to pool money, separate from your personal accounts.

Collecting money from groups of people? Easy.

Need different financial accounts that you can share with multiple people? Easy.

Braid’s versatility means that there are many ways to use Braid. We’ve seen quite a range of use cases and possibilities since starting and continue to find new ones to this day.

Here are 31 ways to pool money with Braid to get you started.

Pool money with friends

Are you the one in your friend group who always has the plan, gets everyone on the same page and subsequently pools your funds together? Braid may be your answer to wrangle your friend’s funds together.

1. For vacation

Fund your next vacation with friends. Easily collect, spend and keep track of trip money in a designated and separate account from your personal account. You can even set up a monthly or weekly amount to be automatically deposited to your travel fund with our feature Recurring Add $. Have each member of the pool set up their own automatic deposits and reach your travel fund goals all the easier.

2. For dinners with friends.

Pool your funds for frequent dinners with friends. Whether you’re staying in and cooking or going out, you can make a designated pool to collect funds for groceries or eating out with friends. Everyone can pitch in and see when funds are spent. Not only are funds well organized, but seeing funds come and go keeps you excited for your next dinner date.

3. Split your rent and roommate expenses with Braid.

Create a pool for rent, groceries, utilities, Netflix and have each of your roommates contribute their share each month. Seamlessly pay your bills directly from the pool.

4. Fund your bachelor/bachelorette party.

Make your friend’s dream bachelor/bachelorette party come true by pooling money with friends. Paying for your friend’s flight, food, dinner, drinks and entertainment? Have all of your attendees contribute to your pool ahead of time. They can even chat about ideas within your pool for fun things to do.

Pool money with your community

We all want to see our communities thrive. Fundraising is a big part of bringing your community to life. With Braid’s powerful money collection tools, we make it easy to fund just about anything. Pool Links allow you to collect money from anyone with or without a Braid account.

1. Throw a raffle to raise money for your cause.

If you’re raising money to purchase particular items, you can buy your items directly from your Braid Pool with your designated Braid debit card.

2. Pool money for your community gardens.

Collect your garden’s fees in one lump sum or on a recurring basis with Recurring Add $.

3. Collect funds for micro grants.

Support local endeavors by using Braid Pool Links to collect from anyone for any amount.

4. Fund your next meal train.

Raise funds for a person or family in need to go towards a meal train.

5. Pool funds for community events.

Everything from fall festivals, 5K charity run events, local concerts and other fundraising events. Collecting money is easy and free with Braid.

Pool money with family

We’re always planning and sharing money with family. Take the work out of chasing down illusive relatives by centralizing your family fund.

1. Fund your next family reunion.

Create your own customizable Pool Link. Add an image, description and even customize your URL to reflect your family’s event. Not to worry, the less tech-savvy family members won’t need to download an app or create an account. They can contribute to your pool with their debit or credit card.

2. Keep track and fund your nanny and/or babysitter’s allowance.

Instead of the traditional way of having your nanny or sitter pay for your kiddo’s stuff, keeping a receipt and reimbursing your nanny/sitter, you can save a lot of time by using Braid. Create your nanny pool, fund it and have your nanny spend directly from the pool with their own debit card. Track the expenses and top-up your pool as your funds get low.

3. For a birthday celebration.

Perhaps grandma is hitting a milestone birthday and the family would like to throw an extra special event, but not one person wants to front the money for the event. Pool your funds ahead of time to make the event run even more smoothly.

4. Pool funds for a group gift.

Have the whole family pitch in for one big gift. It’s hard to come up with one good idea yourself, but if you team up with your family to come up with one gift that everyone can get in on, not only can you make a bigger impact, but give a more meaningful gift.

5. For a baby shower.

Use Braid Pools to collect money for your baby shower, diaper fund or monetary gift. Track who paid you what and buy items directly from your pool.

6. Fund the next bridal shower.

There’s no need for one person to take on the expense of a bridal shower. Instead, have the bride’s closest friends and family pitch into your bridal shower pool and spend directly from the pool so that there’s no confusion to where the money is being spent.

7. For graduates.

Start a graduation fund for the new grad in your family. Whether they’re graduating from high school, college or grad school, celebrate their big milestone by collecting funds with a customizable Pool Link. Add their photo, a description and send the pool to the lucky grad once you’ve raised enough funds. They can even see the notes that family and friends added to their contribution to make it extra special.

Pool money for your school

When it comes to school funds, there are many people involved which means things tend to take longer. At Braid, pooling with large groups is our specialty. Here are some ways you can take advantage of Braid Money Pools for schools.

1. Raise funds for your classroom.

Create your own customizable Pool Link for your classroom that you can send to parents. Once you’ve raised enough funds, you can buy your supplies directly from your pool or send the funds back to your bank account.

2. PTO fundraising.

Reach fundraising goals, and improve schools for students and teachers by using Braid Pools for PTO fundraising and money collection. Create your Braid Pool to fundraise for back-to-school or mid-year events, school renovations, equipment upgrades, healthier lunch options, and more.

3. Collect money for teacher gifts.

Gather contributions for teacher appreciation week, end-of-year gifts to show teachers how much they’re cherished.

4. For room parent funds.

Make your job as a room parent all the easier by using Braid money pools to collect money to cover field trips, class parties, creative projects and more.

5. Manage your class reunion funds.

Use a Braid Money Pool to collect money from attendees and pay for event expenses like booking a venue, entertainment and catering.

Pool money for hobbies and gigs

When it comes to clubs, memberships and hobby focused groups, money collection has always been left up to the leader of the group. Take your group to the next level and have them contribute to your designated pool and spend directly from it too!

1. Book club expenses.

Use your book club pool to collect membership fees, buy bulk book orders, subscription services, food, wine and more.

2. Sports leagues.

Use Braid to manage your intramural sports league funds. Pool money for your membership fees, uniforms, games and more.

3. Manage band’s finances.

Start a dedicated place to collect band income, manage band finances, and organize crowdfunding for your next tour or album.

Pool money for personal goals

We all have big dreams and most of those dreams revolve around finances. Whether you’d like to start your own side project, reach your savings goals or need a little extra financial help, here are some ways Braid can help you reach your financial goals.

1. For envelope budgeting.

Reach your budgeting goals by using Braid Pools for envelope budgeting. Make a pool for each expense and add the desired amount that you’d like to cap your spending at for the month. (You can even use Recurring Add $ to automatically deposit into each of your pools at the beginning of the month.) Keep track of each category and gain control of your personal finances.

2. Create a savings pool.

As opposed to traditional savings accounts that have minimums and are typically pretty limited, Braid pools are flexible. Create multiple savings pools for different purposes or occasions and/or team up with friends or community to save.

3. Collect money for personal fundraisers.

Things come up in life and we all need help from time to time. Whether it be recovery from surgery, help fixing your car or some funds to get you to your next job, Braid is a great option for fundraising. Not only is Braid free, but we do not take a cut of what you collect.

4. For personal Gifts.

Ask friends and family to chip in for something special you’re saving for. Whether it’s your birthday, a holiday gift or something big you’re working towards, collecting money with Braid is free and easy.

Interested to learn more? Check out our Complete Guide to Pooling Money with Braid.

Questions? Drop us a line at hello@braid.co.

31 Ways to Pool Money With Braid