‘Tis the season to learn about money.
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When my daughter was three, I took her through the ATM drive-thru. I was a single mom at the time, and money was tight. A few days later, we were in Target, and she wanted a barbie doll, and I told her that I couldn't afford it. She immediately replied to me, "just go to the drive-thru with that plastic card and get more money," which made me laugh! I realized at that moment teaching her about money was going to be necessary. I know what you're thinking, "she was only three." However, taking simple steps to teach her about money over the past thirteen years has helped make her a responsible teenager.
Greenlight has been one of those simple steps. You cannot get a child a debit card at a regular bank until they turn sixteen. So, when I found out about Greenlight, it was the perfect fit for us. As a parent, Greenlight is a debit card that you fund, much like giving your child allowance. With the holidays approaching, Greenlight is perfect to get your child started on their gifting list. My daughter has been using it for several years now. She has a regular debit card but prefers the Greenlight card. So, why the Greenlight card?
1. Parental Control
You can add, subtract, and move money within the card. You can assign chores, give an allowance, and divide the budget into spending, saving, and charitable giving. You can allocate where they can spend the money (anywhere, ATM, gas station, grocery, restaurant, & online gaming) and even provide parent-paid interest. You can also see when your child makes a purchase.
2. Customizable Card & App
Your child can choose a photo to put on the front of the card to personalize it. My daughter chose a picture of her puppy. There is an app that links to the card. You can easily manage money in the app, and your child can see what they have, just like logging in to an online banking platform. They can watch their savings grow and see what they have available to spend.
3. Setting Up for Success
Teaching kids about money at a young age helps them understand the value of earning money on their own and making responsible choices in spending. My daughter now thinks twice about what she is spending money on and if it is worth giving up what she has in her account.
Holiday Decor
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