Managing one’s finances responsibly is anxiety-provoking at any age, but especially for young people just getting started in life at a difficult economic time. We’ve spotlighted efforts by Australia’s UBank to educate Millennials about smart saving habits (“Live fast, save young”). Now Charles Schwab is targeting this cohort with a similar approach, positioning the brand as an advisory figure that can help change irresponsible financial behavior (“Don’t blow your cash”). In a new online video campaign titled “Oh Chuck! I Blew My Cash,” several videos portray Millennials chatting with company founder Charles R. Schwab about amusing incidents of ridiculous overspending. One guy, for instance, has splurged on 90 pairs of sneakers, while a woman has bought pricey animal masks at a Renaissance fair. As they go on, Schwab remains cool and collected, offering advice on better ways the money might have been spent.
By illustrating real anecdotes (each vignette claims to be a true story), Schwab reminds viewers they’re not alone in their reckless habits. And by showing the company founder in conversation with these flummoxed spenders, the ads position the bank as an accessible and friendly but straight-talking confidant.