Your campaign plan will dictate how much money you should raise. Though campaigns do need money and they can be wildly expensive, you shouldn't be discouraged by it — small and scrappy campaigns can win.
Though there are many schools of thought on how best to raise money, a lot of candidates start with close friends and family members to get their campaign off the ground. Depending on the size of your campaign, you might be able to raise sufficient money from just your family and friends (typically those campaigns are local races in small to medium sized cities).
Asking for money can be awkward but its a crucial and very normal part of running for office.
NGP VAN, a mainstay in Democratic fundraising, has a fundraising basics guide and a candidate guide to call time. CallTime has both a blog and a podcast about fundraising in Democratic politics that you may find useful. Below is one way that you can think about fundraising prospects.
While you need resources to run an effective program, the money you raise isn't everything, and you aren't doomed if you get outspent.
In November 2020, Valli Geiger was elected to represent Maine's House District 93 with 55% of the vote despite being outraised by a factor of 15 to 1.
While this district, encompassing the small towns of Rockland and Owls Creek, has generally supported Democrats, its elections have historically been very close. Susan Collins lost the area by only 390 votes. Democratic candidates in 2012, 2014, and 2015 won by margins of less than 150 votes (compared with the 514 vote margin of Rep. Geiger).
Rep. Geiger received $5,659 from the Maine Clean Elections Act which is Maine's voluntary program of full public financing for political campaigns. Her largest expenditure was $3,300 dedicated to newspaper and print ads.
Her opponent, Mike Mullins, had $85,955 with nearly $20,000 in self-funding. Mullins spent $18,000 on staff and consultants, and about $11,000 on newspaper and print ads — 3 times more than Rep. Geiger.
Mike Mullins ran as a "progressive" Republican running primarily on conservation and affordable housing. On paper, Mullins was a formidable opponent, especially given Maine's independent streak. He had more money, a staff, and a website. But despite his clear advantage in resources, Rep. Geiger still won.
Rep. Geiger had previously served for six years on the Rockland City Council, organized for health care access and education funding, and campaigned on concrete local issues like the Rockland sales tax and the relationship between local property taxes and school funding. Her advocacy for school funding helped her earn the endorsement of the Maine Education Association. She also brought her authentic self to her campaign, sharing detailed accounts of personal struggles and hopes.
By truly knowing her community, offering concrete proposals, and showing her true self, Rep. Geiger was able to overcome a 15:1 resource gap and win an open seat by a 10% margin.