My band is ready to record our first album, but we're a bit short on funds. Does anyone have any tips on how to raise some money?
get a job!
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u could ***** urself out to 10 fat chicks for 10$ a job or u could ***** urself out to 5 reallly fat chiks for 20$ a job =D
Get a lot of paid-gigs.

And if you're not good enough for that yet. Do a lot of free gigs to up your quality/image.

Then see first sentance again.
Quote by Owen_W
My band is ready to record our first album, but we're a bit short on funds. Does anyone have any tips on how to raise some money?

Everyone in your band should get a job. Put money into the band fund. Play paid gigs. And get as many people to help as possible. You'll save tons of money if you can find people like sound engineers looking for experience, and a rabid fan base willing to double as a street crew.
Play as many gigs as is humanly possible for as much money as you can get.
Take out expenses, then if there's enough money left, save it.
You should probably be playing gigs before you're recording albums in a studio. That being said, I'd say get some small time equipment and record a small demo, play gigs and give them away for $1 or $2 or even free but ask for donations. That's what I do and probably get more off of that then charging an actual price.
Get as many paid gigs as you can and like everyone else said try getting jobs and selling merch/demos
Your opinion is just that, YOUR opinion. It doesn't make you right. It doesn't make you better. It doesn't make you god. Everyone has their own view and that view is neither right or wrong.

Ignorance destroys music.
All good advice above - getting jobs, getting gigs, merch, pre-orders/loans from friends and family, etc.

Consider this: It's illegal, but don't blame me for the execution of the idea... just the idea. haha....

Find somewhere and host a party. Invite family and friends. Get a keg or two. Charge a buck a beer. You'll get your friends loaded for cheap - no more than what they would spend on beer if they bought it themselves at the beerstore, if not less - and you'll turn a profit. Get friends, family, yourself, whoever to make cookies or whatever and stuff. Sell 'em. Be open that this is a fundraiser for recording funds to do a CD. This will make your audience more willing to get loaded because they're helping a friend. Everybody wins. Make sure your band plays at said party. After all.... they'll want to hear you. Take pre-orders at the party. Sell merch at the party.

Could I get some more talent in the monitors, please?

I know it sounds crazy, but try to learn to inhale your voice. www.thebelcantotechnique.com

Chris is the king of relating music things to other objects in real life.
Pre-orders amongst friends is a good idea ^

Or you could always sell some stuff, how much are you estimating it will cost?
Go to a nearby university or college or something along those lines.... any college that does sound engineering courses will have students itching for the real time experience and will do it most likely for free... although there is a possibility that you will be compromising on quality... That said (and im not trying to advertsie) my band recorded a demo in a bedroom with a mixer/track thngy, some mics and a lot of cushions and it came out ok...(link in sig)

Or you could just get a job.... 4 members, a tenner a week = 40 a week = roughly 400 by the end of the summer... And when ye record everyone chips in a once off 50 and that gives you 600! And while ye are saving this money... play ur asses off at gigs(paid or unpaid). Put on unreal shows ie. use lights etc dont just stand and play.... ad basically get ur name out..... If ye play 20 gigs over the summer... mention to 10 ppl after the gig about an album... that'll give you200 sales right there!