Greenlight is a startup that hopes to teach young people the value of financial literacy with a starter debit card and an accompanying app

Learning about personal finance can be quite difficult for kids, and many educations leave it out almost entirely. But now Greenlight, a financial startup, is using debit cards and a smartphone app to help educate children on the values of financial literacy.

Any child with a bank account can get a debit card, but Greenlight's advantage lies in its educational foundation. With one of the brand's debit cards, consumers over 13 and their parents have full access to their accounts. This allows kids to see what's in their account, request money from their parents, set savings goals and keep closer tabs on what happens when they use their card. Parents can view the accounts, control PINs, set spending limits by category and provide their children with allowances.

The goal of Greenlight is to help kids understand the finer points of finance and personal banking. By getting them started earlier in their lives, the hope is that they will be less dependent on their parents or other outside sources later on in their lives. In the future, customers can expect more financial literacy education and even an investment feature.

Greenlight


Lead image: Blake Barlow/Unsplash

Learning about personal finance can be quite difficult for kids, and many educations leave it out almost entirely. But now Greenlight, a financial startup, is using debit cards and a smartphone app to help educate children on the values of financial literacy.

Any child with a bank account can get a debit card, but Greenlight's advantage lies in its educational foundation. With one of the brand's debit cards, consumers over 13 and their parents have full access to their accounts. This allows kids to see what's in their account, request money from their parents, set savings goals and keep closer tabs on what happens when they use their card. Parents can view the accounts, control PINs, set spending limits by category and provide their children with allowances.