How Kids Can Learn Smart Spending with Greenlight
Money management is an important life skill. South Bay Credit Union wants to help your kids achieve financial success. They have partnered with Greenlight to give South Bay Credit Union members a free subscription to their unique program, which teaches kids smart spending.
This post is sponsored by South Bay Credit Union. South Bay Credit Union is for all who live, work, or worship in the South Bay.
South Bay Credit Union and Greenlight
Why Money Matters for Kids
Some childhood traditions never change. For generations, doing chores and hitting up parents for spending money have been rites of passage. But when you were a kid, chances are pretty good you earned your allowance in cash that you spent immediately or stuffed into a piggy bank. In our ever-evolving digital world, cash is no longer king, and part of developing financial skills involves learning how to manage a bank account and wield a debit card to make purchases.
What Is Greenlight?
Greenlight offers families a debit card made just for kids that helps them learn how to make wise money decisions. It’s more than just a debit card, however. Greenlight is also an all-in-one money management app. Parents can use the app to track kids’ spending habits with real-time notifications, create and customize chore lists for earning allowance, and more. In addition to financial security, the app also offers safety features like location sharing, crash detection, SOS alerts, and identity protection for you and your children.
Besides the freedom to make purchases with a debit card, kids can use the Greenlight app to keep track of chores they need to complete, practice real-world skills games, and learn about savings and investments.
Learning Through Play
Playtime isn’t just for fun; it’s an opportunity for kids to develop essential skills. Greenlight Level Up is a financial literacy game for kids and teens that uses educational challenges to teach kids about everything from budgeting to investing. Each challenge is packed with videos and minigames that will leave kids having so much fun they won’t even realize they’re learning financial skills that they’ll continue to use far into the future.
This Isn’t Your Grandma’s Savings Account
Greenlight is the first program to reward kids financially for learning to manage their money wisely. With 1% cash back earnings on every purchase and a savings reward of up to 5%, kids will learn the value of saving. Kids can also use the app to set up savings goals. Whether they’re dreaming of a new video game or their first car, they can set their goals and work to achieve them. They can also choose to round up their purchases to the next dollar amount and send that extra money straight to their savings.
Investing in the Future
Greenlight has an innovative investment feature that allows kids to explore stocks, research and propose investments, and make actual trades with parent approval. Investing is essential to building long-term wealth, and when kids get an early start, they have the opportunity to grow their money as they save toward all their future goals.
Learn more about the features available and sign up through South Bay Credit Union for a complimentary Greenlight membership.
About South Bay Credit Union
South Bay Credit Union is for all who live, work, or worship in the South Bay.
Banking with South Bay Credit Union offers numerous advantages. Their exceptional features include a local presence in the South Bay, personalized attention to detail, tailored banking and lending solutions, access to over 30,000 fee-free ATMs, specialized Youth Accounts, and private insurance coverage of up to $1,000,000 per account.
For small businesses, banking with South Bay Credit Union offers a range of advantages. These include online banking, bill payment services, debit and credit business cards, and low fees. You can enjoy all these benefits while receiving the same level of care and attention as a personal account.
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