How the Greenlight App Helps Kids Learn to Manage Money
How Greenlight Helps Kids and Parents to Manage Money
Once kids have mastered the concept of money and understand that it doesn’t just grow on trees, parents may appreciate the ease of using an app like Greenlight. We love it because it:
- Automates allowance
- Gives kids visibility into how much money they have in their account
- Encourages kids to think about Saving, Spending, and Giving
- Offers a physical debit card (which can be added to Apple Pay)
- Makes it easy for you to transfer money to your kids as needed and to set spending limits by retailer.
Setting it up is super-easy. Note: There is a monthly fee of $4.99 (up to 5 cards), and it will require you to authorize a bank account. The debit card can be customized with your child’s picture and will arrive within 7-10 business days.
The only hiccup is configuring the app on your children’s devices so they can track their money independent of you. Here are the steps:
1) On your phone in the parent app, set up your children first. Then start by tapping your child’s name.
2) Next tap Settings, and then Enable app Usage
3) If your child doesn’t have a cell number, just create a username with an email address. When you have added your child correctly, you’ll see this:
4) Now from your child’s device, download the Greenlight app.
5) When you’re asked to log in, tap Sign In at the top right–this is so easy to miss! Or, just enter your child’s mobile if you’ve used it to set up your child’s account with your child’s cell number, you can use this)
6) Once your child is signed in, he or she can click each tab–Spend, Save, Give to see their amounts!