Jun 4, 2019
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.
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.
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.
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