Crowdfunding is great in theory, but many projects fail to meet their fundraising goals, end up asking for more money or fall apart entirely. In an attempt to help creators avoid those fates, Kickstarter is launching a new tool called Project Budget.
It's essentially a budgeting spreadsheet that will help creators map the cost of their projects. Like the Funding Calculator Kickstarter created in August, Project Budget will remind creators of expenses they may otherwise overlook -- like taxes and fees. Once a Project Budget spreadsheet is complete, creators will have the option of sharing it in a new section of the project page.
The feature is aimed at helping projects actually deliver, and do so in a timely fashion. It could also make campaigns more transparent. The latter is in line with new rules aimed at "honest and clear presentation." Earlier this year, the platform asked creators to stop calling everything "the world's best" and making other dubious claims.
In a blog post, Kickstarter says it wants "creators to be able to provide their backers with more clarity and insight into how they plan to spend the funds they raise on Kickstarter. We hope that this feature will give backers a sense of where their pledges are going, and how much it actually costs to bring an idea to life."