With Greenlight’s Savings Goals we’ve made it easier for you to empower your children to establish healthy, lifelong financial habits by setting new savings goals to motivate and focus their money management. Your kids can create Savings Goals to save for specific purposes - like a new bike, phone, game, or trip!
Kids can also earn up to 5% on their Savings balances with Greenlight Savings Reward.* Learn more here.
Within the Greenlight app, your kids can move money from other approved Spend Controls into their General Savings or Savings Goals at any time. If your kids decide they want to spend money from either their General Savings or Savings Goals, they’ll need to send you a request in the Greenlight app to have that money moved. This way, you can have those crucial conversations about the tradeoffs between continuing to save, or spending their hard-earned money.
Keep in mind, you can add money anytime instantly to your child’s General Savings, and adjust your Parent-Paid Interest!
*Greenlight and Greenlight + Invest families can earn monthly rewards of 1% per annum, Greenlight Max families can earn 2% per annum, and Greenlight Infinity families can earn 5% per annum on an average daily savings balance of up to $5,000 per family. Only Greenlight Max and Infinity families can earn 1% cash back on spending monthly. To qualify, the Primary Account must be in Good Standing and have a verified ACH funding account. See Greenlight Terms of Service for details. Subject to change at any time.