How do Savings Goals work? How do I set them up?

Savings Goals allow your kids to set aside money for a specific purpose and track progress towards reaching that goal. Your kids can move money from other approved Spend Controls or their General Savings into Savings Goals at any time. If your kids decide they want to spend money from their Savings Goals, they’ll need to send you a request in the Greenlight app to have that money moved.

If you have set up Parent-Paid Interest for your kids, it will be applied to any money in a Savings Goal and any interest earned will be deposited directly to that Savings Goal.

To create a new Savings Goal:

  1. Navigate to your child's dashboard.
  2. Tap on the Savings tile.
  3. Click on "Add a Savings Goal."
  4. From the Savings Goal screen, input what the goal is for and the amount.
  5. Click "Save" and you are good to go!

To edit a current Savings Goal:

  1. Click on the Savings Goal you would like to edit.
  2. Click "Edit goal."
  3. From this screen you can change the name of the Savings Goal, the goal amount, and delete the Savings Goal if need be.

To add money to one of your child's Savings Goals:

  1. Navigate to your child's dashboard.
  2. Tap on the Savings tile.
  3. Tap on the Savings Goal you’d like to add money to.
  4. Choose “Move $ In.”
  5. Choose where you’d like the money to come from and the amount you’d like to move into General Savings.
  6. Confirm your choices and tap “Move Money” to complete the process.
  7. Your child’s Savings Goal balance will update automatically.
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