Greenlight is now offering a 30-day free trial. Greenlight is much more than just a debit card for children. It features the ability to:
- Assign weekly and one-time chores and offer rewards
- Set and pay allowances automatically
- Limit your child’s spending to a few trusted stores
- Set a specific amount that your child can withdraw from any ATM
- Get instant alerts on where and when your child spends
- Review your child’s spending by month or store
- Set interest rates on your child’s savings account
Greenlight Features:
- Debit card for kids and teens with flexible parental controls
- Earnings tied to chores or direct deposit options
- Up to 5% interest on savings and 1% cash back on purchases
- Customizable savings goals and rewards for good financial habits
- Access to research tools for stocks and ETFs
- Greenlight Level Up™: Fun games that teach essential money skills
- Three pricing plans: Greenlight Core ($4.99/month), Greenlight Max ($9.98/month), and Greenlight Infinity ($14.98/month)
Let’s take a closer look at Greenlight below.
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Introducing Greenlight: A Financial Education Platform for Families
In today’s fast-paced financial world, it’s crucial to teach children the importance of managing money effectively.
Greenlight offers a comprehensive solution, providing a banking and investing app designed specifically for kids and teens. With a variety of features and educational resources, Greenlight aims to help young people develop responsible financial habits and build long-term wealth.
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Greenlight’s Budgeting Tools: Teaching Kids to Spend Wisely
Greenlight offers budgeting tools designed to help kids and teens learn the importance of smart spending.
Parents can set up customizable categories, such as entertainment or clothing, and allocate a specific budget for each category. As children spend within these categories, they’ll learn how to prioritize their spending and make better financial decisions.
This hands-on approach to budgeting can help young people develop essential financial skills that they’ll carry into adulthood.
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Greenlight’s Parent-Pay: Encouraging Financial Responsibility
With Greenlight’s Parent-Pay feature, parents can pay their kids and teens for chores or achievements, reinforcing the value of hard work and responsibility. By tying earnings to tasks, children learn the importance of contributing to the household and develop a strong work ethic. This feature also allows for easy tracking of completed tasks and payments, ensuring consistency in rewarding your children for their efforts.
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Family and Friends Gifting
Greenlight makes it easy for family members and friends to contribute to a child’s financial goals. With the option to send money securely, loved ones can support children’s savings efforts, celebrate special occasions, or simply show their encouragement.
This feature not only reinforces the importance of saving and spending wisely but also helps kids feel supported by their extended network as they work towards their financial aspirations.
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Investment Tools
Greenlight’s investment tools empower kids and teens to research stocks and ETFs and build a diversified investment portfolio under parental supervision.
By providing access to real-world investment opportunities, Greenlight encourages long-term wealth building and helps young people develop a strong foundation in investing. Through hands-on experience, children can learn about risk management, asset allocation, and the benefits of a long-term investment strategy.
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Pros & Cons
Pros:
- Comprehensive banking and investing app tailored to kids and teens
- Parental controls with real-time notifications for transactions and investment requests
- Savings goals and rewards to encourage responsible financial habits
- Educational resources and games to help develop money management skills
- Three pricing plans to accommodate various needs and preferences
Cons:
- Monthly fees for each pricing plan may not be suitable for all budgets
- Not a standalone bank, but partners with Community Federal Savings Bank for banking services
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Greenlight 30-Day Free Trial
Take 30 days and see how Greenlight works for you, for free. After your trial ends, pay $4.99 a month for your whole family.
How To Get 30 Days Free
- Go to the Greenlight website.
- Scroll down to the panel titled “Try us for 30 days, risk-free”.
- Enter your mobile number.
- Click “Get Started”.
- After your trial ends, pay $4.99/month.
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Bottom Line
Greenlight offers a unique opportunity for parents to help their children learn about earning, saving, and investing in a fun and engaging manner.
With customizable features and educational resources, the app provides a comprehensive solution for teaching kids and teens about personal finance. However, the monthly fees associated with each pricing plan may not be ideal for all families.
Parents should consider the pros and cons of Greenlight before deciding if it’s the right financial education tool for their children. While the app does provide a range of valuable features and resources, it’s essential to evaluate whether the costs align with your family’s budget and needs.
Overall, Greenlight can be a powerful tool for teaching financial responsibility to young people and setting them on a path towards long-term financial success.
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Greenlight makes it easy to send money to your kids and teach them how to manage it. Sign up today and you’ll get $30! https://share.greenlight.com/9482111?advocate_partner_share_id=2f0676f753
Hello, if you need a referral code please use the following link. We’ll both receive a referral bonus. Cheers!
https://share.greenlightcard.com/9482111
We’ll both receive $30 each after your first month is up. Then you can send your referral code to each of your friends for an additional $30 per account signed up with your referral link and after their account is open for 30 days.
https://share.greenlightcard.com/9482111
Refer a friend, get $30. Tell your friends and family about Greenlight — and you’ll both get $30. How? Share this link for them to sign up. After their first month, we’ll add $30 to each of your Greenlight accounts.
I’d be happy to do this, but it says I need your full name and phone number for them to credit the referral. Are you able to share this?
I didn’t like the monthly fee for Greenlight, so I went with Step bank instead. It allows all of the above except maybe the ATM withdrawal limit. I never needed to limit cash withdrawals, but if I needed to, I would just limit the total amount provided. The card issued is also free, colors can be chosen. The app is very convenient.
UPDATED REFERRAL CODE: https://app.greenlightcard.com/p5SLIN1GQ7
Looking for a referral? Sign up with my link and we’ll both get $10!
https://app.greenlightcard.com/scyLZxESH4
You have to complete the whole process using this link to get the credit.
Greenlight, the Smart Debit Card for Kids is the best service I could find after a lot of researching and watching reviews on YouTube. It was between FamZoo and Greenlight and Greenlight is just more polished and has a better UI.
I just signed up using your link. I’m excited to try this!
I used your referral link so you should expect a credit!