I’ve always been someone who saved their money. I remember being 8 years old and saving my hard-earned allowance of $2 every other week to buy a 1957 Chevy convertible. Pretty big aspirations for a little kid, wouldn’t you agree? I would ask my parents if they thought I had enough, and their response was usually a chuckle followed by, “No, honey. You’ll need to save a little more to get that car.”
Flash forward to my teens and 20s. One day while cleaning my room, I found a substantial amount of money squirreled away. I happily reported to my family how much I had found with a smile that would make the Cheshire cat proud. Their jaws literally dropped. My oldest brother even asked me, “What?! Did you have that hidden in your mattress or something?” The answer, my dear readers, is no. Did I ever get that 1957 Chevy convertible? Sadly, again, the answer is no.
How Did You Save Money As A Kid?
How did you save money as a kid? Did you hide it in your room as I did? Perhaps in a piggy bank, a mayonnaise jar, or were you sensible and saved it in the bank? Whatever you did to save your pennies, I’ll bet dollars to donuts that it’s different than how many kids are saving their money these days.
What Is Greenlight?
Have you heard about Greenlight? This is an app that’s managed by parents and provides debit cards to kids. Do you have a hard time getting them to do their chores? You can create chore lists for each kid and tie the work to the moolah. You can also set their allowance to deposit on certain days, just like a direct deposit. If they run out of money, or if you’re feeling generous, you can add money at any time. All of this will help them learn how to earn and save money and be financially responsible.
How Much Does It Cost?
So, what does this kind of fiscal responsibility cost the parents? Believe it or not, $4.99 a month. And it includes up to 5 kids. There’s no minimum age for the kids, and no minimum balance is required. That’s way different than any bank you’ll go to! Another perk for the parents? There aren’t any transactions, international, or overdraft fees. Finally, in case your kid loses their card, the first replacement card is free. How awesome is that!
Another bit of protection for every parent out there…you can even pick the stores that your kids are allowed to spend their money. If the kids happen to spend their money where they shouldn’t, you’ll get an alert when they try. Are your kids fighting with you about not doing their chores or not following your rules? You can switch the card on or off through the app! That’ll show them who has the upper hand.
Don’t assume that you’re the only one who can deposit money into the account. If you’re trying to help your teenager understand the importance of being financially responsible, and they have a job, they can have their paychecks deposited directly into their Greenlight account.
Learn More About Greenlight Today!
With all the incredible perks of this app, it’s amazing to some of us here with Albuquerque Plumbing Heating & Cooling that we never heard of it until recently. This isn’t even the full list of the features offered by the app, either!
To learn more about this app, or even enroll your kids in this money-saving program, check out their website https://www.greenlightcard.com/.