Teach your kids the importance of saving

Want to teach your kids the value of money, but not sure where to start? Let’s be honest, when you’re young, the last thing on your mind is finances and saving money. But, I’ll be honest, I wish I learned how to save money back then. It would have really helped me prepare for my future. Luckily, today there is so much information at our fingertips where you can be an expert in personal finance. 

Enter: Greenlight

This app monitors your children’s spending, so they can learn how to make financially smart decisions. 

Here are our favorite Greenlight features:

1. Chores Management

How many times have you asked your kids to take out the trash, pick up after themselves, or our favorite, to make the bed? Greenlight comes with a “chore management” feature where you're able to assign weekly or monthly chores on the app to entice your children to finish their chores in order to earn their allowance. Who would have thought that money can get your kids to clean up.

2. Automated allowances

You can easily schedule allowances to transfer monthly or even weekly, depending on how many allowances your child earned. You can also reward your child with funds that they can save or spend freely

3. Instant transfer

Ever get a text or phone call from your child saying that they are at the movies and need money for something? I’m sure almost every parent has experienced something like this. On the Greenlight app you can easily send money to your kids with a touch of a button, no matter where they are. You can even monitor how much they are allowed to withdraw from certain accounts on the app.

4. Real Time notifications 

For your peace-of-mind parents, Greenlight sends you real-time notifications so you know when, where, and how much your child is spending. That way you can keep them accountable, for those spending habits. 

5. Monitor spending 

This feature is a great way to teach your kids how to monitor their spending. You can easily create savings goals with your kids so they are aware of how much they spend and on what. For example, if you give your child $80, you can explain that $20 goes towards food, $30 for school supplies, and $30 to put into their savings in their Greenlight Account.

We all know kids are bound to lose something, which is why there’s Greenlight Security. If your child ever misplaces or loses their Greenlight debit card you can easily deactivate it on the app with a touch of a button.

Greenlight is available for both Apple iPhone and Android users with a FREE month trial that you can cancel at anytime. After your free trial, Greenlight will start charging you $4.99 a month, in addition to giving you up to 5 Greenlight Debit Cards.