How financial institutions can lead the charge in family financial wellness

Banks have a unique opportunity to build trust and loyalty through digital family finance tools, according to new data.

More Families Face Financial Stress Than Ever Before

Managing family finances has never been more complex or more stressful. For today’s parents, financial anxiety isn’t just about budgeting, it’s also about trying to raise financially literate kids in a fast-paced, digital world.

According to a new survey from Greenlight, conducted in partnership with Researchscape:

• 52% of parents rank money as their top source of daily stress

• 70% worry weekly, and nearly half say they worry every day

• 73% say the current economy has increased their financial anxiety

On top of these day-to-day challenges, parents are also grappling with how to teach their children about money. In fact, 38% say it’s the most difficult life skill to teach, even more than chores or physical safety.

Parents Are Looking to Financial Institutions for Help

The data shows a growing expectation that banks and credit unions should offer resources that make family money management easier.

• 96% of parents believe it’s essential for their bank to provide financial education tools for both themselves and their children

• 83% of parents want more financial education resources

• 79% say that tools to help teach their kids money management would reduce their stress

Financial Institutions Are Listening and Responding

Family financial wellness isn’t just good for the community, it’s a strategic growth driver.

• 93% of financial institutions say improving family financial literacy is important to achieving their business goals

• 88% have seen demand for financial education rise

• 70% report receiving direct customer inquiries about family-focused tools

Why Digital Tools Are the Future of Financial Education

Today’s families, especially Gen Z and Gen Alpha parents, want accessible, modern tools that help them teach money skills, track progress, and reduce stress. And financial leaders agree.

• 69% prefer interactive tools

• 67% favor mobile apps

• 61% opt for online courses

The Opportunity: Partnering with Greenlight to Serve Families

Greenlight was built specifically to address these needs. We provide a comprehensive, app-based platform that empowers families to:

• Teach kids how to save, budget, and spend wisely

• Manage allowance, chores, and financial goals in one place

• Set flexible spending controls and monitor activity

• Access real-time alerts, educational content, and parental tools

For financial institutions, Greenlight offers a turnkey solution that integrates seamlessly into your offering, helping you deliver high-impact financial education tools without building from scratch.

And it’s not just for kids. With Family Shield, Greenlight extends protection to aging parents as well, offering fraud monitoring, physical safety features, and peace of mind for multigenerational households.

Why It Matters

This is no longer a “nice-to-have,” it’s a consumer mandate. Families are turning to their financial institutions to play a more active role in their financial lives, not just as service providers, but as trusted partners. By investing in family financial literacy:

• You address a major source of customer stress

• You build trust and loyalty across generations

• You position your institution as a leader in financial wellness and innovation

Let’s Partner to Empower the Next Generation

Greenlight partners with over 140 leading banks and credit unions to deliver branded, high-impact family finance tools that help you meet your customers’ evolving needs and grow with them. Ready to lead in family financial wellness? Learn how Greenlight for Banks and Greenlight for Credit Unions can support your growth goals. 

Survey Methodology 

On behalf of Greenlight, Researchscape International conducted an online survey of 1,043 U.S. parents who work full-time and have children 8-18. The survey was fielded February 4 to 6, 2025. Topline results were weighted to be representative of the U.S. population by gender, region and race/ethnicity. Researchscape International then conducted a second online survey of 256 U.S. leaders in banks and credit unions. The survey was fielded from March 24 to April 4, 2025.​ The responses were not weighted.