Have you noticed the same thing about your kids that I can’t quite resonate with? Do anyone else’s children seem more motivated by screen time or quality time than money? Money looks a little different to our kids because they rarely see dollar bills passed around. They also never look at my bank account balance to know the newest video games are an unwise purchase. I order things they want online and have to transfer birthday money from them into my wallet and the whole exchange feels a little nebulous. Especially to a 7 year old.

However, with nearly 40% of American families unable to pay for a $400 emergency, the need for financial literacy with our kids is high. My own interest in personal finance took a steeper turn a few years ago. My pension fund was in the news and my savings was small. Job changes, budget dives, side hustles all helped pique my interest in money. What about my children?

Greenlight is a tool to help make money management easier for kids. I’m hoping this review offers enough information to see if it fits in your idea of helping your kids manage money and how you can use it to help your parenting.

What it is:

I would describe Greenlight as a tree of pre-paid debit cards. I can manage all the cards on one app. The kids have a physical debit card they can swipe, but also an app to allocate their allowance and money. I put money in one account that goes into their accounts(and cards) Sometimes I move money in and out if they want to pay for something but don’t have their card with them. We also negotiate expenses when out and about. “Dad, take it off my greenlight, I want to buy this now.” The boys can see their own money and are giving, saving and even investing.

We set up an automatic allowance based on set chores. I also reward money for extra jobs. The chores are listed out and easy to read. If they log into the app they can see what they need to do for the day. They can also see extra chores available for extra money. My critique of this is later on in this review where I believe Greenlight would be best if your children are the age where they also have a device.

How we use it:

As a reference point for the reader here, I have a 6, 8,10 year old. Their allowance is $.50 x age every two weeks. The six year old gets $6/mo, the 10yr old gets $10. The assigned chores are set up on the app to rotate by day for each kid. The chores automated and standard are:

• Walk dog and/or pooper scoop

• Help with loading/unloading dishwasher

• Wipe bathroom down (Least desired chore)

• Put clothes away

• Take trash out

Other additional ways to make money involve showing a cheerful heart, seasonal projects and I also put obscure jobs to see if they check the app.(they don’t)

We set up the app to pull 10% of their money into a giving category. It’s very clearly identified on the kids’ home page.