In this episode of the Healthy Family Project, we talk to Tim Sheehan, co-founder of Greenlight all about teaching our kids how to be financially responsible. It seems like financial responsibility is one of those skills that we don’t think we need to tackle until our kids are in their teens, but it’s important to start talking about finances early. Tim shares tips to help parents teach their kids about managing money from a young age, including the pros of allowances and how the Greenlight Card can help.
Tim Sheehan is the Co-Founder and CEO of Greenlight. Greenlight is the safest way for parents to give their kids money, approve their spending, and prepare them for financial independence. Prior to Greenlight, Tim was the Lead Entrepreneur In Residence at Georgia Tech’s startup incubator, the Advanced Technology Development Center. Earlier in Tim’s career he was Director of Yahoo! Finance and responsible for growing it to the #1 finance site in the world. Tim also served as SVP Products, Marketing and Strategy for Biller Solutions at Fiserv, was a Cofounder & CEO of Reachable, General Manager of Yodlee, and Senior Product Manager at E*Trade.
Greenlight is a debit card for kids, teens and college students that parents can manage with the Greenlight app using flexible parental controls. Since 2017, Greenlight has helped more than half-a-million parents and kids manage their finances by giving parents the tools they need to teach their children how to spend wisely, the importance of saving and how to make responsible financial choices.
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Want to skip straight to a hot topic? See time stamps below. But of course, we recommend listening all the way through!
- 3:32 How the idea for Greenlight started
- 7:27 Capabilities of Greenlight card
- 13:30 Allowance and chore capabilities through the app
- 16:14 How & when to start teaching financial responsibility to kids
- 21:43 Perks of allowances
- 25:25 How to prepare your teens for the real world
- 31:20 How to help our kids from getting into future debt
- 37:54 What does a healthy family mean to you?
- Learn more about the Greenlight card
- Follow Greenlight on Instagram
- Money Skills to Teach Your Kids
- Find the Greenlight Card app on Apple App Store or Google Play
Other Podcast Episodes to Check Out:
Healthy Family Project Podcast
Conversations covering hot topics in the world of health, food and family with a dose of fun. Helping families ease their way into a new fresh and healthy world. Brought to you by Produce for Kids.
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