Some 46% of employed Americans say they usually run out of money between paychecks and 64% of employed millennials (18-34) say they run out, the highest of any age group, reports SunTrust.
Now the financial institution and its agency StrawberryFrog New York are launching the Onward and Upward – or “onUp” – movement to encourage people to improve their financial health.
The effort debuts with a Super Bowl spot on February 7 titled “Hold Your Breath.” It is designed to serve as an optimistic, second-by-second reminder that worrying about money can cause you to miss life’s important moments.
The concept is based on the agency’s assertion that anyone can achieve financial confidence. Research shows that financially confident people are three times more likely to be satisfied with their life, across all income levels.
The 30-second Super Bowl ad will air during the second half of the game, in the last spot during the two-minute warning commercial break. The ad will direct viewers to onUp.com, where people can pledge to take action, take a Mental Wealth Quiz and receive tools and tips tailored to their needs. They can make their own version of the Super Bowl spot to share with others using their Facebook images.
“We also believe that companies can promote financial fitness as part of a total employee wellness plan,” says SunTrust chairman and CEO William H. Rogers, Jr. “We have proof. We offered financial fitness to our own teammates and 13,000 participated in the first year. More than 70% now say they feel more confident about their finances.”
SunTrust surveyed more than 190,000 individuals to help shape the campaign. Many people feel they are stuck and just need to be pointed in the right direction.
“Financial stress is prevalent, affecting the health and happiness of people across the nation,” says Rogers. “It’s time to raise awareness of this significant concern. We are starting a national conversation ... providing the tools and information to help them gain control over their finances.”
Scott Goodson, the founder of StrawberryFrog, who penned the motto onUp says,: "The message is about courage and determination for millions of us who feel stuck in financial stress. With all that's happening around us, people want to feel good. Our ad won't be silly or wacky, but rather it has something profound to say and will move people."