Greenlight is a financial technology company that provides a debit card and money management app designed specifically for children and teenagers, with the goal of teaching them financial literacy and responsible money habits.
Launched in 2017, Greenlight offers a platform where parents can oversee their children’s spending while empowering kids to learn about budgeting, saving, and investing in a hands-on, controlled environment. The service is built to provide both educational value and practical financial tools for families.
Moreover, at the center of Greenlight’s offering is the Greenlight debit card, which gives kids the ability to make purchases online, in-store, or withdraw cash from ATMs. However, the card is tightly managed through parental controls that are accessed via the Greenlight app. Parents can set spending limits, approve or deny specific transactions, and allocate funds to different spending categories such as food, entertainment, or education.
Likewise, Greenlight also emphasizes teaching kids how to budget and save effectively. The app includes features like “Savings Goals” where children can set targets for their savings, and parents can encourage these efforts by offering interest on their child’s savings or matching contributions. This feature helps instill the concept of saving for long-term goals and delayed gratification, which are critical financial habits.
In addition to its spending and saving tools, Greenlight offers an investment feature for kids, where they can start learning about stocks and investing in a safe, parent-supervised environment. Parents can approve specific investments, and children can monitor their portfolio’s performance, gaining practical experience with basic investing concepts.
Overall, Greenlight combines financial education with practical tools, offering a well-rounded solution for teaching children and teens how to manage money responsibly. With features that cover spending, saving, and even investing, Greenlight provides a comprehensive platform that helps young users develop a strong foundation in financial literacy while allowing parents to guide and support their learning.
