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The SpendSmart Payments Company provides real solutions for the real world. "REAL TALK" is a series of videos supporting their teen product, the SpendSmart prepaid card. The series will feature
Justin Bieber speaking the uncut truth about the lessons he learned about responsible spending. Via texts, emails, and videos, Justin will personally share what teens need to hear about finances, while encouraging families to start the conversation about financial responsibility.
The 2012 Global Financial Literacy Barometer shows that over 70 percent of parents believe their kids don't understand money-management basics. American school systems today are often unable to teach financial literacy, leaving a significant educational gap. Meanwhile, of the
$209B in annual teen spending, 80% of that is in cash, which can't be tracked and leaves many parents wondering where it has gone. The SpendSmart Payments Company strives to help parents become coaches and teachers in financial literacy by providing a set of resources that encourage responsible spending through financial education and monitoring capabilities.
"Our goal is to provide tools to support parents in helping their teens grow into financial responsible adults. Justin has a truly relevant personal story that he can share with teens and their parents and that reinforces our mission of responsible spending and financial literacy. That makes Justin an ideal young adult to offer his personal experience and spread the message of financial responsibility to teens and their parents," says
Mike McCoy, CEO of the SpendSmart Payments Company.
Bieber was drawn to this campaign because of the valuable lessons he learned growing up when money was tight. He recounts how his family instilled the value of a dollar, and educated him on the significance of spending intelligently. These valuable lessons helped shape him into the responsible teen superstar that he is today, and he often speaks of the guidance and advice he received growing up.