Let’s face it. Teaching teens money management isn’t easy but it is essential. Just like everything else, it takes a little practice. Now, I don’t want my kids having to practice balancing their bank account and using credit cards for the first time when they are away at college. I want to let them get practice while they are still at home. In fact, we have been taking baby steps in that direction since they were old enough to do chores and earn some money. Learning to use a debit card is an important part of money management teens need to learn and now Greenlight Card for teens and kids makes that possible. This post is sponsored by Greenlight. All opinions expressed are my own.
A Debit Card For Teens With Parental Controls
Teaching teens money management starts with talking to kids about money and helping them open a savings account. Once kids are 13 and up they can even open a checking or savings account as long as a parent co-signs the account. Having them know how much money they have, when they have a chance to earn more money, how they are spending their money, and how much money they are saving is the basis of allowing them to feel comfortable with money. Debit cards for kids is just one way that teenagers can learn to track how much money they have to spend, and what they are spending it on.
A Greenlight debit card for teens is the perfect way for teenagers to be able to learn to use a debit card with their parents’ guidance because parents can manage the child’s debit card from their phones using parental controls. The Greenlight debit card is actually designed for kids aged 8 to 18 and can easily be managed by parents from the Greenlight App. The parent account makes Greenlight ideal for savvy parents of teens who want to empower them to make smart decisions with money while at the same time help guide them and keep them out of trouble. The Greenlight Card is actually the only debit card that lets you choose the exact stores where kids can spend. Pretty cool! This smart debit card can let your kids spend anywhere or only at select you select.
Features Of The Greenlight Debit Card That Make It A Great Tool For Teaching Money Management:
- Through the Greenlight mobile app, parents can choose the specific stores or categories where their kids can spend money; they call those greenlights. The Greenlight card is the ONLY debit card in the world that offers this unique capability.
- Greenlight debit cards for kids come with your child’s name (and PIN) built in so only he or she can use it.
- A Greenlight debit card for teens can be instantly shut off, from either your phone or your child’s phone, if they misplace the card.
- Money can be instantly transferred from the parent’s bank account onto their kids’ Greenlight Cards through the mobile app. This makes it easy for parents to pay allowance and for kids to manage their allowance money. You can even set Greenlight to pay allowances automatically.
- Greenlight reporting lets the parent and child review spending choices together.
- Greenlight debit cards for kids can be used internationally if your child is traveling or studying abroad.
- The Greenlight debit card for teens can be used with Apple Pay.
- Greenlight sends parents a real-time notification every time their child uses the debit card, letting them know where they are shopping and how much they spent.
Do you think the Greenlight debit card would be a money management tool your teen would like to try? Try it for free. You can learn more and get the app at greenlightcard.com.
Amazon + Greenlight: Helping Teens Effectively Manage Money
Amazon just announced that parents can add teens to their Amazon household account for free, with the flexibility to either approve every order or set pre-approved spending limits. Teens can now explore Amazon with the independence of their own login while still giving parents final control.
As Greenlight CEO Tim Sheehan said, “Teens want independence, parents want convenience. Amazon’s new offering is a natural fit blending the two. That said, we believe a much larger opportunity exists to help parents teach their kids about how to be smart with money — learning to spend wisely, the importance of saving, giving back when you’re able to, and investing to build wealth for the long-term.”
Amazon and Greenlight are both making it easier to talk to our kids about how we handle money and what we spend. Do you talk to your kids about how they manage their money?