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2023 Financial Literacy Month with Greenlight app and debit card for kids and teens

Mar 29, 2023

Ways to celebrate Financial Literacy Month with your family

Birds are chirping, bees are buzzing, and life-long financial skills are blooming. That’s right — it’s Financial Literacy Month, and we’re about to take learning about money to the next level. 

If you’re thinking, “Am I right for the job?” our survey says definitely: 75% of teens say parents are their #1 trusted source for financial information. Let’s make it count with our top money moves for kids and teens, backed by financial literacy statistics. We’ve even got a money game to share. Grab the family and read on. 

Why financial literacy is important

According to the National Endowment for Financial Education, 80% of adults wish they were required to take a financial education course during high school.¹ When you understand personal finance basics like credit scores and interest rates early on, you can avoid money mistakes — like taking on massive student loan debt without a plan 🛟

Your kids and teens want to do better. Our survey shows that 93% of teens believe they need financial knowledge to reach their goals — and 97% of parents agree. Let’s flip the script, make learning money management fun, and set your kids on the path to financial stability so they can live their best life. 

You can use tools like Greenlight to help your kids improve their financial knowledge. From earning to gaming, read on to discover ways to make learning about money extra memorable. 

6 ways to celebrate Financial Literacy Month with your kids and teens 

Ready to kick off Financial Literacy Month? Let’s get it started by talking through important money topics. From debit cards to direct deposit — your kids and teens will be financial pros in no time. 

1. Put practice into play 🎮

Learning about money doesn’t happen overnight. You have to keep up with your good money habits to keep building strong financial literacy. The best way? Greenlight Level Up™, our interactive financial literacy game. It’s fun. It’s rewarding. It’s everything you need to celebrate and learn about money this month — and for life. Make it a month-long goal to get your kids to play at least once a day in celebration of Financial Literacy Month. 

2. Earn money by doing chores 🧺

Last time we checked, money doesn’t grow on trees. You’ve got to earn it, and according to our recent survey, 50% of teens are already learning how to do just that. Start by looking around the house. Are there any chores your kids and teens could help with? *Gestures broadly*

With Greenlight, you can assign recurring chores, automate payouts, and more, right from the app. When money — and life-long money skills — are the reward, they’ll practically run to walk the dog or put away those dishes. 

3. Discover ways to make money as a teen 💡

Does your teen have big savings goals, like a new car or college tuition? Mowing the lawn might not be enough to cut it 🤭 Dad jokes aside, we’ve got 20 ways your teen can start making money today and reach their goals even faster.

On the shortlist: Sell clothing or other unwanted items, work at a clothing store (hello, special discounts), or become a tutor. There’s also Greenlight referrals, where your teen can earn up to $600 per year — just by sharing Greenlight with their friends. Cha-ching!

4. Supercharge savings goals with direct deposit 🚀

Working teens can set up direct deposit so they can get paid on time, every time. They can also split paychecks across different accounts, automatically sending a percentage or dollar amount to their savings. 

2023 financial literacy month tip: set up direct deposits with Greenlight, money app for kids, teens

Teens can use Greenlight to deposit their paychecks right into Savings (or Spending). And skip that trip to the bank — because who needs another car ride? 

5. Remember: Compound interest is your BFFL 💯

While 62% of teens have learned about savings, not all know about the power of compound interest — an easy way to build their balance. With compound interest, earnings from your savings start to earn money of their own. Mind = blown.

2023 financial literacy month tip: earn 5% on savings* with Greenlight

One classic example of compound growth: Saving money in a high-yield savings account. You can also use Greenlight to put compound interest to work. From Parent-Paid Interest to up to 5% cash back to Savings², Greenlight rewards your kids for making smart money moves.

6. Explore the world of investing — together 📈

Investing is top of mind for teens right now, with 86% of them reporting being interested in investing. But 45% say they haven’t invested because they don’t feel confident or their parents don’t know how to get started. Let’s change that.

2023 financial literacy month tip: use investments to help save for long term goals like a new car

Saving for retirement through a Roth IRA or 401(k)? That’s a great way to open the convo on investing. You can also stock up on long-term stock strategies, like diversification. Take learning to the next level with the Greenlight app, where you and your kids can explore more than 4,000 stocks, and ETFs, watch videos, and do more — together.

Financial literacy month. For infinity. 

Teaching your kids about financial literacy is infinitely better when you give them the tools to learn on their own, too. Speaking of… why not power their independence — and your peace of mind — with Greenlight Infinity: 5% on Savings, investing for kids AND parents, SOS alerts, crash detection, and so much more. 

¹NEFE, 2022.

¹GOBankingRates, 2022.

¹National Payroll Week, 2022.

²Greenlight Core and Greenlight + Invest families can earn monthly rewards of 1% per annum, Greenlight Max families can earn 2% per annum, and Greenlight Infinity families can earn 5% per annum on an average daily savings balance of up to $5,000 per family.

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