Northwestern Mutual Tackles the Money Talk Taboo with SoulPancake Project

Social experiment raises awareness of the importance of financial conversations

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Oct 11, 2016, 11:00 ET

MILWAUKEE, Oct. 11, 2016 /PRNewswire/ -- Today Northwestern Mutual, in partnership with SoulPancake, debuts The Talk, a social experiment designed to bring families and loved ones together around a topic that has long been considered off-limits by some in our daily conversations: money.

The Talk, produced by SoulPancake, a digital media and entertainment company renowned for creating the Kid President video series, is now available on the SoulPancake Facebook page and YouTube channel, and provides a forum for participants to break social and cultural taboos around discussing money. The payoff? Communication and honesty are the keys to stronger relationships as well as establishing a financial plan, taking action and having confidence in knowing you are financially secure.

"We know from our own research* that a large majority of Americans are financially anxious, perhaps because they're not comfortable talking about money," said Chantel Bonneau, wealth management advisor for Northwestern Mutual. "We hope this video can be an ice breaker to help dispel social and cultural taboos around financial conversations and empower people in their personal planning journey."

SoulPancake Chief Creative Officer Golriz Lucina added, "At SoulPancake we're all about tackling life's big questions – even the uncomfortable ones. We were so excited to partner with Northwestern Mutual to take the taboo out of talking about money, and help jumpstart the conversation."

To complement the SoulPancake video, Northwestern Mutual is offering tips for how to start the money conversation with your loved ones. For more information, visit Northwestern Mutual's Financial Guidance page or the many resources at TheMintGrad.org.

With your significant other: It should come as no surprise that financial stress can be a common source of disagreements among couples. That's why it's important to discuss how you'll handle finances early on. Not sure where to start? Take a financial compatibility quiz with your partner and share the results. From there, discuss your shared vision and begin developing a financial plan.
With your kids: Use everyday activities as teaching opportunities. For example, if they get an allowance, have them think through how they'd like to use their money. Help them learn how to save, spend, invest and give at TheMint.org.
With your roommate: Don't go into a new living situation without knowing shared costs, how you'll split them and how they'll be paid. Then agree on an itemized plan and have all roommates sign it to avoid future confusion. For fun ideas on cost sharing, visit TheMintGrad.org.
With your boss: Asking your boss for a raise can be intimidating. Be prepared for this conversation by doing your homework. Determine a fair salary increase based on your role, responsibilities and tenure with the company. Have data ready that supports your position. For those new to the workforce, learn some basic salary negotiation strategies here.
With yourself: It's incredibly important to be honest with yourself about your financial situation and goals. Start by outlining your budget, including monthly expenses, debt and savings. Then, make a list of short-term and long-term financial goals. Learn the five basic ways to make your money work for you at NorthwesternMutual.com.

*Northwestern Mutual 2016 Planning & Progress Study

About SoulPancake
SoulPancake is actor Rainn Wilson's award-winning media and entertainment company. One of the leading creators of inspiring, uplifting video content, SoulPancake creates content for digital and traditional distribution, including 30+ hours a year of digital video content for its community of more than 8.8 million fans. Named one of Fast Company's "Most Innovative Companies in Video" in 2015, SoulPancake has more than 300 million videos across its digital platforms, has released two New York Times bestsellers, been named to Inc. Magazine's Inc500 list of fastest-growing businesses, won nine Webby Awards, three Streamy Awards, an NAACP Image Award, and took home a daytime Emmy. SoulPancake's positive content has attracted brand partners such as Coca-Cola, ConAgra Foods, GE, Google, Microsoft, Purina, the United Nations, Visa, and more. Find us online at www.soulpancake.com or on YouTube, Twitter, Facebook, Instagram, or Snapchat via @soulpancake.

About Northwestern Mutual
Northwestern Mutual has been helping families and businesses achieve financial security for nearly 160 years. Our financial representatives build relationships with clients through a distinctive planning approach that integrates risk management with wealth accumulation, preservation and distribution. With $238.5 billion in assets, $27.9 billion in revenues and more than $1.6 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.4 million people who rely on us for insurance and investment solutions, including life, disability income and long-term care insurance; annuities; trust services; mutual funds; and investment advisory products and services. Northwestern Mutual ranks 100 on the 2016 FORTUNE 500, and is recognized by FORTUNE as one of the "World's Most Admired" life insurance companies in 2016.

Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI, and its subsidiaries. Northwestern Mutual and its subsidiaries offer a comprehensive approach to financial security solutions including: life insurance, long-term care insurance, disability income insurance, annuities, life insurance with long-term care benefits, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company (NMWMC), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC).

SOURCE Northwestern Mutual