When most of us hear the term financial literacy, we imagine a kind of personal know-how—based on both theoretical knowledge and practical skills—through which we develop and adopt basic strategies for managing personal finances. This is generally how the media understands the concept of financial literacy as well. However, it is important to emphasise that television advertising works with it in very diverse ways. On a general level, two dominant types of campaigns can be distinguished. The first type consists of explicitly educational ads, which usually promote campaigns by non-profit organisations or government projects. The second type follows the logic of the commercial sector. These are typically advertisements for banks, insurance companies, or, nowadays, fintech startups.
Riding the wave of the economic cycle
This specific subgenre of television advertising began to appear on a larger scale already in the late 1970s and early 1980s in the USA and the UK. These commercials primarily had an educational and social function, as their goal was to warn citizens against going into debt and, on the contrary, to promote saving. In the 1990s, thanks to globalisation, there was a boom in marketing by multinational financial institutions, and the commercial ads began to emerge. Probably the most iconic campaign came from Mastercard, which successfully connected the world of finance with personal values and emotions.
Educational content came back into vogue after the 2008 mortgage crisis, when many edutainment programmes such as Biz Kids emerged to warn against falling into a debt spiral. Since the mid-2010s, we have witnessed a renaissance of interest in commercial products. Television ads for fintech and digital banks such as Revolut or Greenlight prove this. Financial education intertwines with the need to understand modern digital technologies. It can therefore be concluded that trends closely follow the development of the economic cycle. Although the nature of advertising campaigns changes, the basic strategies and narratives remain.
A Marriage of Convenience: Education vs. Commerce
Financial literacy adverts generally have three basic functions. First, they serve an educational purpose by increasing viewers’ awareness of fundamental economic principles such as saving, household budgets, loans, and debt traps. Second, they are persuasive—whether from the government, a bank, or a fintech startup, advertisers always try to convince the viewer that they are a reliable partner who will help manage their personal finances. And finally, their no less important normalisation function gives them a certain aura of authority, which sets societal expectations about how money should be “properly” handled.
It’s no surprise that their creators most often rely on proven strategies such as metaphors (game, journey, secret), narratives (stories of success or failure), contrasts (what happens if you don’t vs. if you do), and participation (voting, interactive ads). From all these approaches, certain specifics of this genre emerge. It is a combination of a “teacher-like” didactic approach, within which the advantages of a rational approach are often presented over emotionality. Typical features include the involvement of trustworthy authorities—either economic experts or popular personalities—and especially in the Anglo-American sphere, the use of humour and exaggeration. Children also frequently appear as symbols of a responsible and hopeful future.
When Hutton talked for the first time
A legendary campaign by a now-defunct financial institution remains absolutely fundamental to the genre of financial literacy advertising to this day. The American company E.F. Hutton & Co. was founded in 1904 and, for most of the 20th century, was one of the most prominent American brokers and icons of retail investing. However, in the second half of the 1980s, it went through a devastating reputational crisis related to so-called check-kiting. In 1988, it merged with Shearson Lehman (American Express), forming Shearson Lehman Hutton, and by 1990, the name Hutton was completely discontinued. Before that—during the 1970s and 1980s—it managed to send out a truly groundbreaking television commercial. “When E.F. Hutton talks, people listen.” These words were more than enough and were perceived as an unquestionable truth for nearly two decades.
This is one of the most famous slogans in the history of financial services advertising, and also a pop culture symbol that defined an entire era. The content wasn’t anything extreme—the ads typically followed stories of ordinary people who encountered someone whose finances were managed by E.F. Hutton. Thanks to the slogan, the brand became synonymous with authority, respect, and expert knowledge. This was also reflected among consumers: according to the media, within five years, awareness of E.F. Hutton had reached nearly 100%, and the company, in terms of marketing, outperformed its giant competitor, Merrill Lynch. Thanks to the creators’ approach, E.F. Hutton became—at least for a while—practically the most respected brand in the investment world.
Video: When EF Hutton talks, people listen - 1970s commercials (digital restoration of video 2022)
You have to earn your money
Once the definition of the genre had been established, other key players in the market began to take inspiration from E.F. Hutton’s example. Authority and professional expertise had already been used in marketing presentations, so companies had to look for a winning formula elsewhere. The brokerage firm Smith Barney & Co., therefore, claimed honesty and stability for its promotional purposes. This company, too, no longer exists independently – in 2012, it was acquired by the financial giant Morgan Stanley. However, its 1980s campaigns are legendary, and much of the credit goes to the Romanian-British-American actor and producer John Houseman. It was he who lent the otherwise down-to-earth slogan the necessary weight and gravitas.
“They make money in the old-fashioned way. They earn it.” That is the slogan to which Houseman gave his unforgettable stamp. In general, all the Smith Barney ads in this series were very calm and minimalist. Their ethos was also characteristic of 1980s America – the best way to make money is to work hard and earn it. Nothing more, nothing less. In the rather conservative America of that time, it was a clear expression of the prevailing mindset – and, above all, it came long before frenzied financial speculation became fashionable. To this day, it remains one of the most memorable Wall Street advertisements, even though the boundaries of financial ethics have long since blurred compared to Houseman’s authoritative approach.
Video: Smith Barney ad, 1981
For everything else
In the 1990s, after the collapse of the Eastern Bloc, globalisation swept through the international financial system. In essence, it meant that providers of financial services could gradually begin to ignore geographical boundaries — and both their acquisition and subsequent marketing strategies adapted accordingly. Social values were also shifting. Of course, there are things money can’t buy. But… for everything else, there’s Mastercard. The legendary slogan couldn’t have come at a better moment than its first appearance during the 1997 World Series. Even after all these years, the Priceless campaign continues to define the presentation of a company that ranks among the world’s most significant financial institutions. Moreover, it saved Mastercard at a time when the company was in desperate need of a branding and corporate reset.
The originator of the campaign’s core idea was Joyce King Thomas from the advertising agency McCann-Erickson. People don’t use credit cards for luxury, but to enjoy experiences with their families. The key is a basic human emotion—not the desire for something expensive and fleeting. From this realisation, it was only a small step to the final product. The campaign became a true pop-culture phenomenon—it was a meme even before memes existed. It was parodied by The Simpsons and SNL, and various versions were launched in more than 100 countries. Over time, other products were built upon the Priceless concept—an independent online platform, an exclusive package of experiences for cardholders, and, more recently, multisensory advertising campaigns. It remains relevant and successful to this day—and thanks to it, Mastercard is recognised all around the world.
Video: (HQ) Mastercard - Priceless | Advert (2006)
So simple a baby could do it
During a commercial break in Super Bowl XLII in 2008, football fans witnessed a remarkable sight. Suddenly, a baby appeared on their screens and began explaining, with surprising authority, how investing in the stock market works. The TV spot almost instantly triggered a massive wave of interest in this method of generating income, and many viewers went on to open accounts through one particular platform. That platform was run by the American fintech startup E*TRADE—and the baby, whose witty commentary made the world of investing seem approachable and fun, was destined to become its main brand ambassador forever.
E*TRADE Baby truly brought something revolutionary — it convinced the average American that the markets weren’t an elite club reserved only for seasoned professionals, but a place anyone could enter. Select, click, invest… It’s almost that simple. The E*TRADE Baby commercials spread absolutely everywhere — from YouTube and social media to every imaginable corner of the internet. The campaign earned Clio recognition as one of the most memorable Super Bowl ads, and the company relied on its baby mascot almost continuously until 2014. Today, E*TRADE Baby is no longer as omnipresent in the company’s branding, but it keeps making regular comebacks.
Video: E*Trade Baby Commercial Super Bowl XLII 2008
School as a financial laboratory
Examples of good practice in the genre of financial literacy advertising can also be found in the Czech Republic. Creative and inspiring concepts are regularly introduced by Česká spořitelna, which has been successful in combining the educational and business aspects of its campaigns. The latest contribution to this discussion is the Skoala project, supported by Česká spořitelna and the Česká spořitelna Foundation. It is a digital educational platform enabling interactive financial literacy teaching in elementary schools. The interest in this type of solution is evident from the fact that more than three hundred educational institutions have already joined the project. The goal is to engage more than two thousand schools.
Naturally, the promotion of the project does not rely solely on television—given the nature of Skoala, that wouldn’t make sense. The creative teams from agencies VML and OAK Prague therefore chose a multiplatform approach: the spots appeared not only on TV screens but also on cinema screens and outdoor advertising spaces. A central role in the campaign is played by gamification elements designed to show teachers and students that financial literacy education can be fun and motivating. Česká spořitelna emphasises long-term impact: supporting education from the school benches up, with a vision of a future shaped by an educated generation.
Video: Česká spořitelna: The most amazing place
Financial literacy ads have one unique quality – although they work with numbers and economic concepts, their true foundation is human stories. Financial institutions strive to show that finance is not a distant world of experts, but something that concerns each of us. Česká spořitelna continues this tradition in a modern way by bringing financial literacy directly into the classroom. Whether through authority, emotions, or humour, all of these campaigns prove that well-executed advertising can change not only brands but also the way we think about money and the future.