Allowances will be automatically added to your child’s Spend Anywhere, unless otherwise specified. You do have the option to distribute your child’s allowance between Spend Anywhere, General Savings, Giving, and Cash to Invest. We recommend a 70/20/5/5 split, respectively.
When setting up a new allowance for your child, payment allocation will be part of your setup flow. To edit existing allowances:
- Go to the child dashboard.
- Tap on the Allowance tile.
- Tap on the pencil icon located to the right of the allowance amount.
- Tap on “Edit allowance details.”
- Scroll down and enter the % distribution you’d like added to each category and save your preferences.
Please note: The total distribution must add up to 100%. The Cash to Invest allocation option is only available to families on Greenlight Max and Infinity plans. You cannot set an allowance to transfer on the 29th, 30th, or 31st of the month, as there are some months that do not have those dates. Allowance will be paid to your child by approximately 6 a.m. ET on the day set for your child’s allowance.