Financial wellbeing app launches 'Get Debt Fit' campaign

Following the launch of the Barnsley based ilumoni app in September 2021, ilumoni is on a mission to help UK borrowers #BorrowWell through their new #GetDebtFit campaign.

ilumoni’s recent report, ‘Borrower confidence, capability and stress: is the UK borrowing well?’, found that over a quarter of UK borrowers (28 per cent) admitted to buying something on credit and feeling guilt or regret later.

ilumoni has kicked off its campaign with a competition aiming to take the pressure off one winner’s festive season, whilst helping them keep it off in the New Year. The competition winner will receive a cash prize of £2,033, equivalent to the average UK household credit card debt.

Co-Founder of ilumoni, Jonathan Corner says, “When we were thinking about the type of competition we wanted to run, it was really important to us that the prize helped someone change their relationship with money for the better, as well as being substantial enough to give them a boost this Christmas.

“That’s why we’re so pleased to be partnering with Tolu, who works with people across the UK to transform their mindsets and create positive financial change in their lives.

“We’re also really excited to hear how the UK plans to Get Debt Fit in the New Year and wanted to start that conversation early, helping people to think about it before the usual overindulgence at Christmas.”

The ilumoni app has been designed to show users how their own borrowing habits and behaviours directly impact the cost of their debt overall, and how long they carry it for.

It uses Open Banking technology to analyse a user’s accounts and balances to see if there are smarter ways to repay or clear balances faster, based on what they can afford.