Ways to Celebrate Financial Literacy with Your Family

Posted on April 15, 2024

United Community customers can enjoy Greenlight’s loved and trusted money app for free¹. Kids and teens earn money through chores, set savings goals, and spend wisely with their own debit cards. Parents automate allowance, set flexible controls, and get real-time notifications every time their kids spend money. Join today at no cost.

When it comes to financial literacy, kids and teens want to do better. A Greenlight survey shows that 93% of teens believe they need financial knowledge to reach their goals—and 97% of parents agree.

If you’re thinking, “Am I right for the job?” Greenlight’s survey says definitely: 75% of teens say parents are their #1 trusted source for financial information. Let’s make learning money management fun and set your kids on the path to financial stability so they can live their best life.

Why financial literacy is important

According to the National Endowment for Financial Education, 80% of adults wish they were required to take a financial education course during high school.² When you understand personal finance basics like credit scores and interest rates early on, you can avoid money mistakes—like taking on massive student loan debt without a plan.

You can use tools like Greenlight to help your kids improve their financial knowledge. From earning to gaming, read on to discover ways to make learning about money extra memorable.

6 ways to teach financial literacy to kids and teens

Let’s get the financial fun started by talking through important money topics. From debit cards to direct deposit, your kids and teens will be financial pros in no time.

Put practice into play: Learning about money doesn’t happen overnight. You have to keep up with your good money habits to keep building strong financial literacy. The best way? Greenlight Level Up^®, the interactive, in-app financial literacy game. It’s fun. It’s rewarding. It’s everything your family needs to celebrate and learn about money.
Earn money by doing chores: Last time we checked, money doesn’t grow on trees. You’ve got to earn it, and according to a recent Greenlight survey, 50% of teens are already learning how to do just that. Start by looking around the house. Are there any chores your kids and teens could help with? With Greenlight, you can assign recurring chores, automate payouts, and more, right from the app. When money—and life-long money skills—are the reward, they’ll practically run to walk the dog or put away those dishes.
Discover ways to make money as a teen: Does your teen have big savings goals, like a new car or college tuition? Mowing the lawn might not be enough to cut it. Dad jokes aside, your teen can start making money today and reach their goals even faster. On the shortlist of ideas: Sell clothing or other unwanted items, work at a clothing store (hello, special discounts), or become a tutor.
Supercharge savings goals with direct deposit: Working teens can set up direct deposit so they can get paid on time, every time. Teens can use Greenlight to deposit their paychecks right into savings (or spending). And skip that trip to the bank—because who needs another car ride?
Remember: Compound interest is your BFF: While 62% of teens have learned about savings, not all know about the power of compound interest—an easy way to build their balance. With compound interest, earnings from your savings start to earn money of their own. Mind = blown. One classic example of compound growth: saving money in a high-yield savings account. You can also use Greenlight to put compound interest to work. From Parent-Paid Interest to 2% cash back to savings³, Greenlight rewards your kids for making smart money moves.

Make every month Financial Literacy Month.

Teaching your kids about financial literacy is infinitely better when you give them the tools to learn on their own, too. Ready for the best part? As a United Community customer, your family can join Greenlight and play Level Up^® for free.¹ Sign up today.

¹ United Community Bank customers are eligible for the Greenlight SELECT plan at no cost when they connect their United Community Bank account as the Greenlight funding source for the entirety of the promotion. Upgrades will result in additional fees. Plans start at $4.99/mo. Upon termination of promotion, customers will be responsible for associated monthly fees. See terms for details. Offer ends 3/28/2026. Subject to minimum balance requirements and identity verification. Offer subject to change at any time. Upgraded plans may include Invest Account Services, which are the investment advisory services provided by Greenlight Investment Advisors, LLC, a wholly-owned subsidiary of Greenlight, as a Registered Investment Advisor, and the brokerage services provided by DriveWealth, LLC as a broker-dealer. Investments are not a deposit and are not FDIC Insured. Investing involves risk, including potential loss of principal.

² NEFE, 2022. GOBankingRates, 2022. National Payroll Week, 2022.

³ Greenlight Select families can earn monthly rewards of 2% per annum on an average daily savings balance of up to $5,000 per family. To qualify, the Primary Account must be in Good Standing and have a verified ACH funding account. See greenlight.com/terms for details. Subject to change at any time.

This blog was brought to you in partnership with Greenlight, the all-in-one money app for families.