I'm Jamie — Profit Strategist and Financial Literacy Coach.

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Teaching Financial Literacy to Kids With Greenlight

July 28, 2023

Ready to teach your kids financial literacy for kids? It's time for Greenlight financial education.

As parents, we all want to teach financial literacy to our kids. We want our children to grow up with a strong understanding of money and how to manage it wisely.

Unfortunately, many of us didn’t receive adequate financial education when we were younger, and we don’t want our kids to face the same challenges.

That’s where the Greenlight Card comes in. This innovative tool provides an interactive and practical way to teach your kids about money management while giving you control and visibility over their finances.

In this article, we’ll explore how the Greenlight Card can help you raise financially literate children and set them on the path to lifelong financial success.

Please note that we do use affiliate links in this article but we only share it  as it is something that we personally use and love and think that you may find it useful too. 

Instilling Early Financial Literacy

The Greenlight Card offers a unique opportunity to start teaching your kids about money from an early age.

By using the card, children can visualize their financial activities and learn important concepts like saving, spending, and giving.

With the ability to set up an allowance, automate fund transfers, and allocate money into different categories, such as spend anywhere, savings, and giving.

Kids can develop healthy financial habits and understand the importance of budgeting and setting aside funds for different purposes.

Real-Time Monitoring and Control

As a parent, you have full control and visibility over your child’s Greenlight Card account.

The parent’s view within the app allows you to monitor your child’s spending balance, transfer money instantly from your bank account to their card, and make adjustments as needed.

Whether you’re providing funds for everyday expenses or special occasions, such as a trip to the zoo, the Greenlight Card ensures you can easily manage and track your child’s financial activities.

Teaching Concepts like Interest and Investing to kids

Financial education for children goes beyond addition subtraction and even personal finance.

The Greenlight Card goes beyond just spending and saving.

It provides an opportunity to introduce your kids to concepts like interest and investing.

Through the app, children can set savings goals, learn about the benefits of earning interest on their savings, and even simulate investing in stocks and mutual funds with as little as one dollar.

This hands-on experience helps children grasp the power of compound interest and lays the foundation for future sound financial decisions and decision-making.

Creating a Culture of Financial Responsibility

By using the Greenlight Card, you can create a positive financial environment for your children.

The app allows you to set up chores, track completed tasks, and reward your kids with their designated allowance. This helps instill a sense of responsibility, work ethic, and accountability.

Additionally, the Greenlight Card enables your children to make charitable contributions, teaching them the importance of giving back and fostering a sense of empathy and generosity.

Money Management for Kids: Unlocking Financial Skills with the Greenlight Card

Teaching your kids about money is an essential part of their upbringing.

With the Greenlight Card, you have a powerful tool at your disposal to impart financial literacy skills and instill healthy money habits.

By utilizing the app’s features, you can introduce your children to concepts like budgeting, saving, interest, and even investing in an engaging and interactive way.

Start empowering your kids today with the Greenlight Card and set them on the path to financial success.

Learn more at https://jamietrull.com/greenlight.

What’s Next in Financial Education?

Teaching children how to manage money responsibly is difficult without educational resources you can trust.

Ready to hire your kids but unsure where to start or how it works?

Check out our Hiring Your Kids Toolkit and learn how to maximize tax savings and secure your child’s financial future.

It is the ultimate resource for legally and efficiently integrating your kids into your family business.

Learn more at jamietrull.com/kids.

The following is a direct transcript from the video that has not been edited. Please excuse any grammatical errors. 

Disclaimer: This article is not a financial advisory. Please consult a professional financial advisor for personalized guidance.

The following is a direct transcript from the video that has not been edited. Please excuse any grammatical errors. 

Hey everybody. Jamie Trull here. Your favorite CPA, financial literacy coach, and profit strategist.

And today we’re talking about something a little bit different.

I’m normally talking about things related to business finances for small business owners, but today I’m talking about something else that is near and dear to my heart.

And that is raising kids who understand money. 

How to teach kids financial literacy

So one of the things that I hear a lot from the people that we teach children I talk to and from various business owners that I work with is they wish they had learned some of just the basic general financial literacy concepts when they were younger.

And I’m a person that from a young age, I did a lot of these things.

My parents instilled a lot of different lessons into me.

I had an investment account by the time I was 17 years old. I really learned a lot from my dad who is a business guy.

And I think that I have undervalued the impact sometimes that they have had on my life.

The one thing that set me up for success early

Improve your own finances by helping your child develop money management skills.

What got me to the place where I’m at now, where I’m completely comfortable managing money, it is never something that has been difficult for me.

It has always come naturally to me. It’s why I became a CPA.

It is why I have a master’s in finance. It’s always been something that I’ve enjoyed doing and hasn’t really been intimidating.

But I know that that’s not the case for a lot of people and a lot of people are learning lessons later in life.

So I wanted to do a quick video today that is really more about how to make sure your kids grow up ununderstanding money and knowing how to manage it.

And I have a really, really cool tool that I recommend for it. Now, the other reason that I’m talking about kids today is because, well, I’m a mom. I have two young kids who are currently seven and four.

So you might be thinking, well, isn’t that a little bit young to really be worrying about this? But honestly, I really don’t, especially with my seven year old, he gets it.

He knows how to save up for things. He understands a lot of the financial topics that I talk to him about, including even things that you would think would go way over his head, like interest right?

Now, does he understand the ins and outs? No, but he understands the basic concept of some of these things.

And one of the ways that is helpful in teaching our kids is to be able to use tools where they can actually visualize it and see it themselves and help it to make sense.

So I’m gonna show you exactly what I use for my kiddo.

Teaching Your Kids About Money: The Greenlight Card Makes It Easy!

Saving money and financial planning will help you raise financially responsible adults.

Not only do I use this tool for my kiddo, but I also use it for my sitter.

We like to give her money for incidentals when they’re out, they need to stop and get lunch or something like that, which is why I went with the Greenlight card.

And the green light card really is not meant necessarily for babysitters, but it can absolutely be used for babysitters, nannies, and things like that when you want to be able to watch and see what balances are so that you can monitor if you need to add more and things like that.

But it’s fantastic for kids. And I’m gonna, I’m gonna do a little tutorial of the Greenlight card and it’s a debit card, but it is so, so much more than just a debit card.

The Parent Controls in Greenlight

Okay? So I am inside the app right now and this is the parent’s view of the app. Since you are probably the parent who is watching this right now.

That’s the side I’m gonna give you a tutorial on so you can see what the parent’s wallet balance is. Currently, I have $50 sitting in my parent’s wallet which is connected to my regular bank account.

And it is super easy to just transfer money. There’s not a long waiting period or anything like that.

It will instantly transfer from your bank account to your parent’s wallet and then you can instantly transfer it to your kid or your sitter or whoever you’re using this card for.

So it’s super quick. I can also see right here on this home screen exactly how much Jordan’s balance is.

That’s our sitter. $13.73 is her spending balance right now.

Managing Money Available

Money responsibility and financial security are critical financial topics for kids to understand.

So for example, if I was gonna be sending them to the zoo or something like that, I would look at that and know, okay, I gotta put some extra money on that.

Similar to your kids, you would know when it’s time to fund them. Now let me show you a little bit, I’m gonna come over here and this is Jordan’s card up here.

And if you had multiple kids, it would show up at the top and you can send obviously money and you can also go ahead and start saving and set up an allowance, right?

That will basically come up each week or each day or something like that. You can set it where it’s automatically gonna pull from the parent wallet whenever you basically want it to.

Allocating Funds in Greenlight

What’s really cool about this is you can also set up the allocation.

So you can go into edit it, you can figure out how often you want to do it weekly, every two weeks, and monthly are your choices and the day you can also choose.

And then you’re gonna see that you also get to choose the allocation. So what exactly does this mean?

Well, that means that you can put money into the spend anywhere. So oftentimes with my sitter, typically things just go to spend anywhere.

I don’t dictate where that has to go, but with my kiddos, I would maybe put, okay, spend anywhere and then an amount in general savings.

So that’s teaching them to save a portion of everything that they get.

Then an amount in giving. So also it teaches them that a portion of everything that they earn should be set aside for giving.

And you can set those percentages, whatever you want, just make sure of course that they go to a hundred percent and it will automatically allocate that out.

So when you pay them their allowance, again, you can automate that too to come outta the parent wallet weekly on Sundays and it will automatically put it into, okay, you can spend it, you can save this amount and you can give this amount. 

Financial Literacy for Kids: Empower Your Children with the Greenlight Card

Give your kids purchasing power and the opportunity to practice financial independence!

So they can just watch that grow, they can watch their savings grow, they can watch their givings giving grow and it’s all right there at their fingertips.

And you again, can, you know auto fund and you can control all of this from your app.

Create Financial Goals with Your Kids

Now, another cool thing, you can go check out your savings, and you can create savings goals. You can even do this. This I thought was so neat, right?

You can round up, which bank accounts do that, right? Or parents paid interest. So this is the savings account. This is the savings piece, right? You’re teaching your kids to really save money.

It’s probably not a heck of a ton of money that’s gonna be in here. Once they have a good amount built up, you probably want to actually open them a savings account.

But if they’re saving $5, $10, $20, right? Then you can actually go in here and set up parent-paid interest. And again, this will come from the parent wallet.

Do they learn about interest?

You’re not actually earning interest from a bank or anything, but it will teach them the concept of interest. So you can say, you know what, we’re gonna pay 2% interest, right?

And it’s gonna pull that and add it and they can watch like, oh wait, the money that I’m putting in here to save is growing without me even doing anything.

So you can teach them the concept of interest without having to have a complicated account or something like that that they won’t know how to use and they can see this right in front of their eyes, which I just think is such a cool feature.

As, a total money geek, that is cool. Like I just think that that is cool for my seven-year-old.

What else does Greenlight Help Kids Learn about Money?

Greenlight helps children learn good financial decision making and engage kids in practical lessons about handling money.

I cannot wait to get all all the functionality set up for him so that he can start watching interest and understanding the concept and understanding the concept of really even compound interest, right?

That the more you make, the more money you have and the more interest you make, the more money you’re gonna continue to make. And it’s just gonna grow and grow.

You can also even set up chores. You can set up upcoming chores, you can do chore options and have chore lists and even have like checklists for chores that they need to do to get their allowance.

That is so cool. You can obviously see your spending history. Or you can, gosh, there’s so many things that you can do. 

Using Greenlight to Give Back

You can go and even give through Greenlight. So that’s really cool. You can search for charities.

They can find a charity if they really like animals, they can go in and find a charity that they wanna give to when they have, you know, some money like in that.

That charitable giving fund, they can go ahead and move it and give it through the app, which is just so cool you guys.

So cool. 

Helping Kids learn to invest in stocks with Greenlight

Then one of the things that we don’t have set up currently, this is something that I am planning to do, I cannot wait.

I think this is super cool functionality, right? You can do investing through this app. Kids can research stocks and mutual funds.

They can invest with as little as a dollar, right? As little as a dollar your kids can start buying and selling stocks, okay?

This is baffling. And it will help you just learn even the concept, right?

We’re not talking tons and tons of money here, but they can, they can have $5 and decide that they want to invest that money.

Man, I just think about honestly, if I had had something like this, like as a kid, I don’t, maybe I’d be even more distraught about money than I am today.

But I just think how cool the lessons that we can teach our kids and the tools that we have at our literal fingertips to be able to teach our kids these lessons. That will help them more than probably half the classes that they take in middle school and high school. 

Raising Money-Smart Kids: A Guide to Using the Greenlight Card

Greenlight helps you teach financial concepts to your kids through activities like interactive game play.

Let’s be honest, you guys, right? Who wouldn’t have loved to sit and learn and really do in investing, you know, and really saving and learn how to budget?

They can set up their own budget in here. I didn’t show you this, but you can also even set up where they can spend it. So you can put something in spend anywhere, or you can even put, you know, this is for gas, this is for restaurants, you know, cetera.

You can actually parse that out and you know, have them have different categories that that’s their budget. You can even budget for a specific store if you wanted to. Its functionality is just so neat.

I haven’t mentioned this yet. JamieTrull.com/Greenlight is where you wanna go. JamieTrull.com/Greenlight

JamieTrull.com/Greenlight is where you wanna go. JamieTrull.com/Greenlight.

It means a lot to me. When you use my link, it helps me to be able to make these videos for you.

It feels really good when you guys use my affiliate links. And It costs you nothing. Yay. Woohoo.

And, and it’s a great, great, great product.

So I would love if you’re gonna sign up, sign up through me.

It’s five bucks a month, you guys, for the basic plan with, without the investing, it’s $5 a month with the investing.

It is only $7.98 cents a month, seven, $9.98 cents a month to teach your kids how to invest. And for your kids to have an investment platform.

That’s amazing to me.

The Greenlight Card: A Powerful Tool for Teaching Kids Financial Responsibility

Help your kids learn good money habits and valuable skills with Greenlight.

So again, for $5 or for $8, right? You can help to really set your kid on the right path to understanding money. The great thing is you can also monitor what’s going on, right?

You can monitor what’s going on. I don’t know about you, but sometimes when I owe my kid, you know, money for doing some chores, I don’t always have cash on me. So I can also use that.

It’s really helpful for me just to be able to not scramble around looking for a $5 bill and to be able to electronically put money into their account and they really enjoy it, right?

This is the new kind of piggy bank really. So I cannot be more excited to embark on this.

I think kids, you know, seven and up easy.

This is great, especially if they have some technical savvy where they can get on the app themselves and you can teach them how to check their balances and get excited about this. I just think it’s fantastic.

So I hope you found this helpful. I hope you’re as excited as I am about the Greenlight card and all the things that you can do with it.

Sign Up for Greenlight with my Promo Code

And if you have the green light card or if you’re signing up, let me know, and let me know how it’s going for you.

Let me know what questions you have. I’d love to hear from you, the things that you’re looking for.

And also make sure to subscribe to this channel because I love putting out more recommendations for you.

And if you’re a business owner especially, go check out all my other content if you are a contractor, business owner, self-employed, or anything like that.

I have so much amazing content teaching all about financial literacy and profit strategy on my channel. So I will see you later and have a wonderful rest of your day.

What else can Jamie Trull teach me about?

Learn more about Jamie and the financial resources and tools she’s created for business owners like you here

Ready to hire your kids but unsure where to start or how it works?

Check out our Hiring Your Kids Toolkit and learn how to maximize tax savings and secure your child’s financial future.

It is the ultimate resource for legally and efficiently integrating your kids into your family business. Learn more at jamietrull.com/kids 

Frequently Asked Questions About Financial Literacy For Kids

Frequently asked questions about teaching kids and young adults to use money wisely.

How Can I Teach My Child Financial Literacy?

Wondering how to get started teaching your child about money?

It’s as simple as talking about earning, spending, saving, and even investing.

Tools like Greenlight savings accounts can make the learning process fun and real.

Chat about finances at dinner, play money games, and give them chances to manage small amounts of money.

They’ll catch on in no time!

What Exactly Is Financial Literacy for Kids?

Financial literacy isn’t just for adults! Kids need to know about money too. It means understanding basic things like what money is, how to budget, save, and make wise choices with spending. With Greenlight savings accounts, kids can get hands-on practice managing their money, with you there to guide them every step of the way.

How Should I Teach My 10-Year-Old Financial Literacy?

Got a 10-year-old? It’s the perfect time to start talking about money. Explain how money is earned and how it can be saved or spent wisely. Greenlight savings accounts are a great tool here, allowing your child to set savings goals and budget for things they really want. Just be there to answer questions, and they’ll be a money whiz before you know it!

What’s Financial Literacy Like for Elementary School Kids?

Elementary school is when money starts to become a real concept for children. They need to know things like what money looks like, what it means to earn it, and the basics of saving and spending. Greenlight savings accounts can make this more than a theoretical exercise, turning it into a real-world lesson. Encourage curiosity, play money games, and start simple, and those big financial concepts will become child’s play.

Teaching your child about money doesn’t have to be daunting or complicated. If you’re keen to take it to the next level with Greenlight, you can find more details through our referral link.

I'm Jamie — Profit Strategist and Financial Literacy Coach.

tell me more...

Reading suggestions

Affordable Tech

Profit First: My Love/Hate Relationship

Hobby Loss Rule - Side Hustlers Beware