One in three teens doesn’t know a credit card from a debit card. Don’t let your kids of grow up without financial literacy. This kids debit card teaches money management and responsibility.
Schools do very little to teach financial literacy to children. And nothing substitutes practical applications of managing money. It is where a debit card for kids can help them learn about finances.
Why Choose a Debit Card For Your Kids instead of giving them an allowance?
First thing first, it teaches your kids that money is a tool. Children learn accountability and the value of saving after earning their money from chores.
Earning money isn’t easy and learning about it growing up makes a huge difference in building a constructive financial perspective that stays with the kids for life.
Teaching kids Financial Responsibility
A kid’s debit card, such as Greenlight, has chores and a points-based system that allows kids to not only own their debit card but give them the opportunity, as set by parents, to earn money.
As the kids complete their chores, the parents can move the money to their kids’ accounts. It teaches kids about the financial responsibility and accountability that’s a valuable lesson to learn growing up.
Debit card for kids under 13 can teach investing too
While hard work can help towards financial freedom, investments can go way beyond that. Many adults feel things could’ve been different if only they had started investing much earlier in life. The debit card for kids under 13 allows kids to invest directly through its app.
Moreover, there are smart and easy-to-understand financial lessons for kids that teach them about stocks and other investment options. As a child reaps the benefits of investments firsthand, it is a lesson in money and finances that can benefit them for decades.
Also, parents can choose from the range of investment plans for a kid’s future while teaching kids about investments in the process. Everyone wins!
Flexible & Easy-To-Manage debit card for kids under 13
This kids debit card has a separate yet linked app for kids and parents. Parents can check how much kids spend and where. The parents can personalize everything about how the kids use money.
Parents can set how much money is to be transferred as allowance every week.
The transparency offered to the parents and the financial independence offered to the kids makes it a win-win situation for both the parents and the kids.
The best part is that parents are notified every time their kid uses the debit card.
Teaching kids about money management is Affordable
Not sure about having a kids debit card? Greenlight Financial has a trial plan for parents who’re still second-guessing the benefits offered by a debit card for kids.
Try it for 30-days, with the option to cancel anytime. The monthly charge post the 30-day period is just $4.99/monthly, making it a no-brainer considering the benefits like teaching kids the value of money. Use Code promo10 to receive a $10 deposit after user completes 30-day Free Trial and starts paid subscription.
Key Features – Greenlight Financial’s Debit Card for Kid
- Digital Chore Board
- Parental Control – Check how, where, and when kids’ spend their money.
- Learn About Investing
- Charity – Understand the importance of giving back!
- Teach kids about the importance of saving.
- Learn about the principles and strength of compound interest.
- Automated monthly/weekly allowance payments.
- Learn about principles of budgeting – Teaching kids to manage money smartly.
- Instant notifications on both parents’ and kids’ apps of Greenlight Financial.
- Turn off access to debit cards instantly.
Greenlight Debit Card is a card designed with families in mind, allowing parents to teach kids (especially under 13 at an early age) about the fundamental lessons of managing money, saving money and financial literacy.
You sign up for the free trial of the kids debit card here.