A recent survey of over 20,000 BLK users found that the majority (69%) of singles find that the increase in the cost of living has hurt their dating and social lives, BLK said in a release shared with Blavity. More users are choosing to date virtually before meeting in person in an effort to cut costs, and 50% of BLK users are cutting out in-person outings altogether.

Black-owned businesses are feeling the effects, too. Sixty percent of Black-owned businesses have been forced to raise prices, and many have been forced to shut down.

Now, the Break the Bank campaign is aiming to reduce the pressure both parties feel.

To enter the content for the $250 gift card, BLK users must submit a video discussing why they need the funds, and describe the date they’d plan if selected. Judges are looking for creativity, humor and stories from users who embody BLK’s platform.

BLK has also released a series of stickers that lets users add different images to their profiles to identify various elements of Black culture, including a Black business owner badge.

Each week for Black Business Month, BLK spotlights its users who are Black business owners and features them on the app’s Instagram account.

In addition to the contest, BLK and The Gathering Spot are also providing users with financial literacy tips and education, aiming to guide users through what many feel is a tough financial time. The Gathering Spot will provide BLK users with push notifications sharing financial tips specific to the Black community. The notifications will cover everything from “How Increased Rates Will Affect Your Money Flow” to “Tips to Grow Your Small Business to the Next Level.”

BLK is also urging users to participate in The Gathering Spot’s #BlackSummerSpend initiative. The initiative encourages people to buy Black throughout August and to upload receipts from Black-owned businesses using a unique “The Gathering Spot” frame.