Press Release: Brightfin Partners with Undue Medical Debt to Support Medical Debt Relief This Holiday Season
The healthy spending app pledges $1 for every active subscription in November/December to Undue Medical Debt, a national nonprofit providing medical debt relief
Medical debt crisis disproportionately affects Millennials and Gen Z
The company encourages all to share their resources as part of healthy money habits
CHICAGO (November 1, 2024) – Brightfin, Inc., the healthy spending app, today announced its plan to share this holiday season, focusing on the nation’s crippling medical debt that holds back millions from achieving their financial goals. Starting today, Brightfin will donate $1 for every active Brightfin subscription through December 31 to Undue Medical Debt—a nonprofit relieving financially burdensome medical debt around the United States for those least able to pay (individuals who are four times (400%) or below the federal poverty level or for whom medical debt is 5% or more of annual income).
Medical debt remains one of the most pressing issues confronting Americans today. With over 100 million U.S. adults burdened by more than $220 billion in medical debt, this crisis not only causes widespread anxiety but also stands as the leading cause of bankruptcy across the country. Medical debt disproportionately affects Millennials and Gen Z.
Brightfin was founded to usher in a future where money is seen as a resource to support your life and share with others. An app designed around percentage-based budgets like 50/30/20, Brightfin emphasizes giving as part of its foundational "4S Budget" ethos – Spend, Splurge, Save and Share. This pledge underscores the company’s commitment to sharing with intention.
"We believe a scarcity mindset holds many people back from healthy money habits," said Christine Devane, CEO and co-founder, Brightfin. “That’s why we made a point to add giving into our expense tracking and ‘4S Budget.’ Our 'Share' category isn’t just theoretical—it’s proven that no matter how much money you have, you always feel better when you share with others, and we hope that our commitment to Undue will encourage others to give freely this season.”
Undue Medical Debt is a nationally recognized nonprofit on a mission to abolish financially burdensome medical debt around the United States and has erased over $14 billion of medical debt for over 9 million families.
“At Undue Medical Debt, we’re proud that anyone can be a philanthropist thanks to our model; medical debt belonging to those least able to pay is purchased in large portfolios for a fraction of its face value, meaning one dollar donated can relieve on average $100 of medical debt,” shares Undue Medical Debt CEO and President Allison Sesso. “This collaboration invites people to approach giving practically, and we appreciate anyone who participates.”
As Brightfin users swipe between spending wisely and splurging mindfully in the app (and hopefully saving some!) over the holidays, they'll play an active part in societal change simply by signing up for or maintaining their subscriptions—a small act with a substantial impact on countless individuals facing soaring healthcare costs.
"Contrary to popular thought, younger people are more likely to have outstanding medical bills and skip rent or housing payments because of this debt," said Devane. “We want to remove the barriers to building a healthy relationship with money for our customers, and medical debt is a big piece of that.”
Brightfin will donate $1 per active subscription, new or recurring, at the end of each month now through December 31, 2024. The Brightfin app is available in the U.S. in the Apple App Store for $8.99. To help the next generation jump-start their financial journey, Brightfin also offers a 30% “junior discount” for people aged 30 and under.
To follow along on the total donations given to Undue, find Brightfin on TikTok https://www.tiktok.com/@brightfin.io.
About Brightfin Inc.
Brightfin Inc. empowers the next generation to build better habits that foster positive relationships with money. Our healthy spending app makes financial wellness simple, accessible and fun. Our swipeable interface, Spend/Splurge/Save/Share approach and lifestyle-based budgets are easy to use, understand and enjoy. Young people from all walks of life trust Brightfin to break the financial shame spiral and control their own destinies. Based in Chicago, Brightfin was founded to usher in a future where money is seen as a resource to support your life and share with others. Find Brightfin in the Apple App Store or visit brightfin.io.
Media contact
Heather Sliwinski
Changemaker Communications for Brightfin
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