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Raising Financially Savvy Kids

Today is a really big day, and one I will remember fondly for a really long time. Kiddo broke out her personal Greenlight, the smart debit card for kids (that I load her weekly allowance on courtesy of the “set it and forget it” type feature,) and took me on an after school mom/daughter date for macarons. There was something about watching her exercise such grace and independence as she sauntered up to the counter, handling the transaction all by herself. She carefully ordered some treats for both of us and paid using her savings which made me even more proud. She knew exactly what to do, and was careful to leave an proper tip for our service. Each and ever day I marvel at her kindness and I love how big her beautiful heart is, but it is on days like today that I truly appreciate these little milestones.

Greenlight Smart Debit Card for Kids

It’s never too early to learn the importance of saving. By letting Kiddo have her own debit card, she will learn how to become financially responsible while I get to “regulate,” and keep tabs on how she’s spending her funds. Right from my phone! 

Gaining financial freedom was something that has interested her for as long as I can remember. Since she was a little girl, she would take those fake plastic credit cards from mailers and stick them in her play purse. She was a pro at playing make-believe store, and would go as far to practice her signature on tiny pieces of paper she called receipts. Having her own debit card naturally seemed like the next step in teaching her how to set up healthy financial goals and expectations. 

Greenlight Smart Debit Card for Kids

The night we presented her with the card her eyes lit up and her smile gave away her excitement. Beaming ear to ear, she immediately wanted to know her limitations and logistics, but most of all “when” could she take her card out for a test run. Before handing over the card, Hubs and I had an in-depth conversation outlining boundaries and specific which included where she could spend her money as well as how her academic performance would come into play. 

Kiddo quickly caught on that this little card didn’t necessarily mean free will, and understood there would be consequences if she didn’t hold up her side of the bargain. She needed to have a clear understanding of where her money was going and set some realistic financial goals. On her own she decided she wanted to earn enough money to pay for next year’s flight suit for Aviation Challenge at Space Camp, and spending money for some trips we have on the books, like our upcoming Playbill weekend in New York City. These goals are not only reasonable, but completely doable. However for now, I’m ready macarons!

Greenlight Smart Debit Card for Kids

We decided Greenlight was the best fit for us because the card is made for children, but built by parents. Kiddo can also “grow with” the card as it supports children ages 8 to 18. The card shares our mentality as it believes a child should, “Learn the basics of money management as soon as possible, and it’s one of the most important things you will ever teach them.”

For only $4.99 a month per family, which includes cards for up to 5 children, I can load Kiddo’s weekly allowance on directly from my phone into her Greenlight account. I can also keep tabs on where she’s spending her loot which is just as important. This week we created a budget so that she has a few dollars to spend on fun things like the upcoming book fair at school. She decided she would not spend more than $10 and I thought this was a great decision on her part. 

We also love the fact if Kiddo misplace a Greenlight Card, or we want to temporarily disable your child’s card, it’s not an issue. I can simply turn the card off within the Greenlight App. 

Tools for Raising Financially Responsible Children

As parents, we are hoping by using the Greenlight debit card, we are teaching Kiddo healthy money habits that will continue as she grows up and earns her first paycheck in high school, then manage her savings while away at college. It’s never too soon to begin practicing healthy habits. So what are you waiting for? Be sure to take advantage of the special 30-day trial to see if it is a good fit for your family! Sign up for Greenlight which is available for iOS and Android before 10/30 and they’ll deposit a $20 bonus into your account after the 30-day free trial ends. *deposit bonus made approximately two weeks after free trial ends.”

Do your children earn a weekly allowance?

We would love to know more about how you teach your children financial responsibility. By sharing your tips, experiences, and suggestions, in our comment section below, you help fellow members of The JetSet Family community decide the best fit for them and their families. Let us know what you liked most, or if you have any questions about Greenlight, the smart debit card for kids.

This post is part of a social shopper marketing insight campaign with Pollinate Media Group® and Greenlight, but all my opinions are my own. #pmedia #GreenPMG  http://my-disclosur.es/OBsstV”. Promotional consideration is courtesy of Greenlight,. On occasion, contributors of The JetSet Family are invited to experience gifted products and services. But that’s OK! This practice does not hinder the influencers’ point of view. Our descriptions have always accurately reflected our overall feelings, and The JetSet Family will only ever share things that we genuinely love and believe worthy of being featured. Thank you for supporting us and our sponsors.

Written by Nicole Standley

Nicole Standley

Founder + Creative Officer, Nicole Standley, shares her favorite trends in travel, food + wine, fashion, health, and fun on The JetSet Family and is a long time travel + lifestyle contributor for CBS Los Angeles, Huffington Post, and Hilton Hotels. She is a brand ambassador for Netflix and O, The Oprah Magazine, and has been named Top Family Travel Blogger by Trip Advisor and Red Tricycle. Follow her on Instagram at: nicoleDstandley

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1 COMMENT
  • Michaele Hall September 25, 2017

    Excellent post Nicole. I wish there had been something like this when I was Kiddo’s age. I do have four nieces and plan to share this with their parents — great info — thanks.

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