CHICAGO, June 25, 2020 /PRNewswire/ -- Talkspace, the global leader in telebehavioral health care that connects users to therapists via video and text, has joined forces with the leading consumer financial wellness platform, Best Money Moves, to help Talkspace Digital EAP clients gain control of their financial lives.
Americans are in financial trouble. Sixty-three percent of Americans don't have $500 in a savings account, more than 70 percent have less than $15,000 saved for retirement. Three-quarters are struggling with debt and the average debt per person (excluding mortgages or home equity loans) is $37,000. The vast majority of Millennials say they worry about their financial lives constantly. Financial stress has become overwhelming, and sadly the COVID-19 Pandemic has made matters even more challenging for many, with unemployment reaching levels not experienced for decades.
For more than three years, the team at Best Money Moves has successfully helped people make smarter moves with their money by providing award-winning written and video content, easy-to-use tools, a point-based reward system, and a unique content-mapping system, powered by artificial intelligence algorithms, to solve users' financial problems quickly and easily.
"Similar to mental health, stigma prevents many from seeking financial help," said Mark Hirschhorn, Talkspace President and Chief Operating Officer. "Our partnership with Best Money Moves gives Digital EAP clients a private, personalized way to better understand and overcome their financial challenges." All Talkspace therapists are licensed, verified and background checked.
"We hope delivering on-demand health and financial stress reducers in one stop will help people in financial circumstances they never could have imagined or reasonably foreseen," said Ilyce Gink, Founder and CEO of Best Money Moves, publisher of ThinkGlink.com, and a highly-regarded, nationally syndicated financial columnist, radio talk show host, speaker, and bestselling book author.
"The financial wellness component in mental health is not well understood nor integrated properly into people's activities of daily living. The reason we're so excited about our partnership with Talkspace is it allows Best Money Moves to help employees meet their complicated and seemingly insurmountable financial realities head-on and, as a result, make an immediate and positive change in people's lives," she added.
Best Money Moves helps people measure their level of financial stress, using artificial intelligence to push contextually relevant information, tools, solutions and the company's own benefits to users. The award-winning company was recently named one of Chicago's 50 startups to watch and ranks on Workforce Magazine's hot list of financial wellness providers. It has been widely featured in national publications and industry press, including Forbes, CNN, NBC News, WGN Radio, Inc. Magazine, WTTW, HR Technologist, Human Resource Executive, Workforce, Inc., and Employee Benefit News.