7 ways kids and teens can earn money using Greenlight
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Key takeaways
Kids can earn money on Greenlight through chores, allowance, savings rewards1, and cashback**.
Parents have flexible tools to motivate kids, like custom interest payments or automating allowance payments.
Greenlight helps kids start earning and learning about money earlier, helping them gain experience and confidence with money.
Many kids don’t start earning money until they get their first job, but with Greenlight, kids can start earning money in a variety of ways at a much younger age. As they start earning money on their own, kids can begin to learn financial responsibility and start feeling more independent and confident about money. Greenlight also lets parents set up fun and flexible ways for kids to start earning.
Here are 7 simple ways kids can earn money using the Greenlight app:
Get paid for chores or jobs
Receive automated allowance
Earn parent-paid interest
Collect up to 6% on savings1
Start investing© (with parent approval)
Receive money from friends and family
Earn 1% cashback on purchases**
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1. Get paid for chores or jobs
Every household does chores differently, but no matter how you decide to manage them in your household, Greenlight makes it easier with the Allowance and Chores feature. You can assign repeating chores or one-time tasks. Pay your kids when the chore is completed, or even pay them as they go, based on progress, so they’re motivated to finish the job.
2. Receive automated allowance
Whether your kids do chores or not, you can also schedule a regular allowance payment to your kids with Greenlight. Choose how much and how often you want to pay them and set it on autopilot. This allows you to start paying them a consistent income, so they can learn to start budgeting.
3. Earn Parent-Paid Interest
Parents have the opportunity to pay their kids interest based on how much they save in the Greenlight app. With Parent-Paid Interest, you can pay any interest rate you choose from 1% to 1000%. Not only does this help reward your kids for saving money, but it can also help provide a real-world opportunity to experience the power of compound interest on their own money.
4. Collect up to 6% on savings balances
Whether parents want to pay interest or not, Greenlight rewards kids for saving with up to 6%1 in Greenlight Savings Reward, depending on your family’s plan. With Greenlight’s Savings Goals, kids can work toward building their savings and earning even more interest as their account grows.
Chores. Allowance. They’re different for every family. That’s why we let you call the shots. Want to tie allowance to chores? Pay a percentage based on chore progress — or only if they’re all done. Prefer not to? Your house. Your rules.
5. Start investing (with parent approval)
Greenlight empowers kids to learn how to invest© with lessons that simplify financial concepts, AI-powered videos to teach them about their favorite companies, and the ability to search 4,000+ stocks and ETFs with investor insights. Along the way, parents can teach them the right questions to ask when reviewing stocks. When they’re ready, they can propose trades for parents to review and approve, then watch their investment portfolio grow.
6. Receive money from friends and family
Each child on Greenlight has a unique pay link that they can share. With the link, friends and family can send kids money for any reason. For birthdays, holidays, and special occasions, you can use Greenlight Gift to send a monetary gift.
Using Greenlight’s pay link, kids can accept money for birthdays, holidays, or just because. For entrepreneurial kids running lemonade stands, babysitting, or tutoring, this feature makes it easy to get paid digitally.
7. Earn 1% cashback on purchases
Greenlight’s debit card for kids allows kids to earn 1% cash back** on every purchase. It’s an opportunity to teach kids to spend strategically and earn money for spending on things they need.
Both you and your kids download the Greenlight app — with tailored experiences. They check off chores, you automate allowance. They spend wisely, you set flexible controls. They build healthy financial habits, and you cheer them on.
A variety of ways to earn
Greenlight gives you and your family several ways to help your kids earn money. Choose the one that works best for you, or use them all. There’s no wrong way to do it.
Empower kids to earn and learn. Manage chores, jobs, and allowances. Teach kids to earn, save, and invest with the Greenlight app. Try Greenlight, one month, risk-free.†
By: Brad Goldbach
Brad Goldbach is a writer focused on financial education, parenting, and tech. He brings over five years of journalism experience and a 12-year background in finance, including time as an advisor. At Greenlight, he’s written extensively on topics like investing for kids, credit building, and family budgeting. Married and a girl dad of two, Brad spends his free time reading, playing board games, and heading out on family hiking adventures when it’s not too hot in the Florida sun.
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Read how we use and collect your information by visiting our Privacy Statement.