Ah, they grow up so fast don’t they! Children, especially those raised in a digital world will know how to spend money in creative ways. Why not combat that as a parent and give them the power of their own Mastercard Debit Card!
How to Manage Your Child’s Finance Easily with One App!
While it is a Mastercard Debit Card, typically accepted at most domestic stores, restaurants, and more, parents have complete control of their child’s spending with Greenlight. As you might suspect, once a user signs up, you’ll be able to give your kid(s) their debit card for use. Through the app you’ll be able to:
- Turn on Accessible Stores (or Greenlight them)
- Send (Reload) Money manually or through allowance
- Freeze the card entirely from the mobile app
- Host up to 5 children on one account, each with their unique card
- Set Category-specific funds: gas money, food money, etc
- Set Store-specific funds: money that can only be spent at the local coffee shop, school cafeteria, etc
- Works with Apple Pay
- Works in 120+ Countries
Parents can fund their kid’s “spend anywhere” accounts. They won’t be able to draw money from ATMs, but they will be able to spend anywhere they want!
What is the cost of Greenlight?
Greenlight is a company founded by parents themselves who have fought hard to solve a problem. It seems like this unique personal finance product could be a staple in everyone’s household. The cost of using this App / Card combo is just $5 a month per family! If you’d like try Greenlight we have an exclusive deal:
Try Greenlight for 30 Days and get $10 in your account once those 30 days are up!
Want an Alternative to Greenlight? Try FamZoo
Although we love Greenlight, there is a competitor in the space called FamZoo. They offer a similar approach to managing your child’s finances but have been around for a bit longer. A few of the features included in this service are:
- Prepaid MasterCard
- Fully Function and Available App
- Incentives for Saving and Chores
- Allocate Money for Emergencies
- Semi-Annual (6 Month) Pricing at $30 ($4.33/mo)
- Monthly Pricing at $5.99