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Sep 9, 2019

Why your kids need the Greenlight app

Greenlight is all about helping parents raise financially-smart kids, which starts with providing children with opportunities to make smart decisions about their money. The child version of the Greenlight app helps introduce those opportunities and sparks natural conversations between parents and kids.

Kids can monitor their own balances

With the trend toward more digital purchases, kids no longer see their wallet getting smaller as they spend cash. Greenlight gives your kids the ability to check and manage their balances to make sure they’re within budget.

Greenlight tip: We recommend setting time to talk with your kids whenever you give them allowances. Together, discuss distributions of allowances between Spend, Save and Give and discuss why you’re making these choices.

Request greenlights

Kids can send requests, also known as Greenlights, when they want to make purchases outside of their Spend Anywhere account or any of the Greenlights you currently have set up.

For kids, this gives them a path to request money if they’re in a pickle. And for parents, this gives you the ability to safely distribute funds for purchases you’re comfortable with.

Showcase the power of saving

Saving for short and long-term goals can be challenging, especially when the satisfaction of taking a full piggy bank to the local teller is a figment of banking past. 

With the Greenlight app, kids can see how they’re progressing toward saving goals line-by-line. They can watch that money grow as you add Parent-Paid Interest and see balances update in near real-time. Bet your old piggy bank couldn’t do that. 🐷

Greenlight kids save 3x more than the national average. It’s never too late to kick off conversations, and present kids with real world scenarios to encourage saving.

How to set your kids up

From your child’s profile within the Greenlight app, click into the child’s settings. Select Enable App Usage and create a username and password. And off they go.

Don’t have Greenlight yet?

Get started by signing your family up today.

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