drawing of savings jar

Jun 4, 2019

Money Skills to Teach Your Kids

Let Kids Manage Their Own Budget

The sooner kids realize the value of dollars spent, the quicker they’ll catch on to the importance of saving. When they have to make decisions on whether to spend or save their own money, they consider the trade-offs they are making. Kids learn a lot from managing their own money, and the sooner they get started the quicker they’ll learn.

young girl paying for her meal with her Greenlight debit card for kids

Teach Kids about Saving

Greenlight provides a suite of tools to help create teachable moments around saving. Show kids their Greenlight Savings Account and explain how to make saving a habit. When they start earning some money of their own, encourage them to save some of it. You can allocate portions of allowance payments to Savings, to instill smart money management.

quote from A.J. accompanied by image of two women

Teach Kids the Importance of Giving

One of Greenlight’s most unique features is Giving. Within the Giving tab of the app, kids can put their own money aside to donate or make a purchase for a nonprofit of their choice. Instilling this thought leadership when they are young will instill good prioritization in money management later on.

“It’s great that we can allocate a certain amount to ‘give.’ My daughter was so proud she had money to donate to kids in our district who struggle to purchase school necessities.

L.M.

More posts:

father and daughter playing with a small windmill

5 important money lessons for kids of all ages

Try today. Our treat.

After your one month trial, plans start at just $4.99/month for the whole family. Includes up to five kids.

Read how we use and collect your information by visiting our Privacy Statement.