Amazon Makes Major Announcement For Parents

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Earlier today, Amazon announced a new feature that will allow teens to shop online within their own accounts, while letting parents either approve every order or set pre-approved spending limits – all under one Prime account. This new approach will not only offer greater independence to teens aged 13 to 17, but parents will also be able to share select benefits from their own Amazon Prime accounts with their kids. It’s an exciting step forward for family-based eCommerce!

At Greenlight, Amazon’s decision only serves to reaffirm our mission; in an increasingly cashless world, parents are looking for new and better ways to manage their kids’ spending while also teaching them how to be smart with money. We believe, in many ways, Amazon’s new strategy aligns exactly with what Greenlight has stood for since our inception; only Greenlight knows you need the same flexibility wherever you are, not just online.

Greenlight continues to offer its revolutionary card for $4.99 per month per family, less than an Amazon Prime subscription, and can be used anywhere, ranging from brick and mortar stores to online marketplaces like Amazon. Greenlight cards are for all ages, not just teens, and offer the best of both worlds to families: control and peace of mind for parents + for youth, independence and a sense of ownership over their money.

We’re excited to see the world’s shopping habits evolve for families as more retailers come to the same conclusion we now share with Amazon. If you’re looking for that flexibility and responsibility for your family, we’d encourage you to check out Greenlight and try it FREE for 30 days. Embrace the new ways for teens to shop on their own while YOU stay in the know, and get Greenlight for your family today.

 

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Greenlight Kids Save 3 Times More than the Average U.S. Household

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As the average U.S. household debt continues to rise, Greenlight families are seeing a different trend. We’re thrilled to announce today that Greenlight kids have saved more than $1 million dollars using Greenlight Savings, The Educational Savings Account for Kids. Official story here. With the average U.S. household savings rate at 2.8%, Greenlight kids are saving a whopping 8.4% of their money on average. That’s triple the national average!  

The Educational Savings Account for Kids allows kids to see real growth in their savings account, how interest works over time, and the impact of spending versus saving, which helps them understand the importance of saving for the future. Not only that, but parents can set their own interest rate and pay the interest automatically within the child’s Greenlight Savings. The national average interest rate for bank savings accounts is 0.08%, making it difficult to educate kids on the value of savings. The average interest rate set by Greenlight parents is 19.84% enabling kids to see the benefits and importance of savings almost immediately.

Since April, Greenlight kids have more than quadrupled the amount of money in their savings accounts. We are proud to continue offering new features like the Educational Savings Account for Kids as an option that is convenient for families and offers flexibility for each family and each child’s unique needs. We are helping parents teach their kids to be smart about money and set them up for success financially, and are hopeful that impact can change the financial course for a new generation.

We’re on a mission to help parents raise financially-smart kids and are thrilled to see so many families using Greenlight Savings to teach their kids the importance of saving. But, we’re not done just yet. We have several new features that we’re excited to release in the near future. Stay tuned!

 

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Want your kids to make better food choices? Check out how one family is using Greenlight to help!

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Kids are tough. Shopping for foods they’ll eat, making lunches, getting them to do their homework, getting them up and out the door on time, and getting them to put down their tech and go outside can be challenging. One of the biggest challenges we as parents face when it comes to kids is getting them to eat healthily.

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