AmEx Helps Moms Talk To Teens About Money
American Express has partnered with iVillage to launch "The Talk," a multiplatform program designed to help moms teach their teenage and young adult children about financial responsibility.
The program promotes Pass, a prepaid and reloadable card that parents can give to their kids.
To encourage parents to have "the talk," the program will feature a variety of content and interactive elements including custom editorial and video, social media outreach, and integrated promotion on NBC.com.
A study from iVillage shows that among moms, the Internet is a top source for information about managing money and being financially responsible. More than half of U.S. moms (61%) are primarily responsible for managing their household's finances, while 41% of U.S. moms said they wish they were more informed about managing money/being financially responsible, so they can pass that knowledge on to their kids.
More than one-third (37%) of online U.S. moms said they want more access to online articles and discussion forums with trusted financial experts. Nearly one-third (29%) of online U.S. moms said they would go online to talk with other moms for advice and information on how to talk about money with their kids. Online moms are also likely to share information with their social networks (51%). Finally, 30% of U.S. online moms would go to an online source for information about managing money/being financially responsible -- ranked only behind a family member (52%) and financial professional/financial advisor (37%).
"Parents of Pass cardmembers told us they are committed to teaching their teens lessons of financial responsibility," says Alpesh Chokshi, president of American Express' global prepaid business, in a statement. "We believe that 'The Talk' provides moms with another resource to help facilitate the important conversation around money while also providing teens and young adults with a safer path toward financial independence."
Elements of the program include a video series that will feature video vignettes, as well as a series created by parenting and financial experts, to encourage parents to have the talk with their teens. Launching on iVillage, the videos will be promoted on Facebook, Twitter and other partner sites. Later this fall, CNBC's Maria Bartiromo will be featured in an online public service announcement from NBCU's Emmy Award-winning campaign "The More You Know," on the topic of discussing finances with teens.
Starting later this month, parents can go to Facebook.com/iVillage for more information on "The Talk" and can exchange tips and advice with other parents and financial experts. Parents who have had "the talk" with their teen can download "The Talk" badge to their personal Facebook page. iVillage will make a donation to Junior Achievement after a key number of badges have been shared. Also starting later this month, parents will have access to "The Talk" on the Web page for the popular NBC series Parenthood on NBC.com.