US Bank has sent a message that should be engraved in the minds of thousands of parents in the United States. The bank insists that teaching about financial responsibility from a young age isn't optional: it's essential for your children's future.
The main message from US Bank is clear: if you want to improve your children's financial knowledge, act now and follow US Bank's tips. US Bank explains that parents can establish a solid foundation at home.
US bank lends a hand to parents in the US: financial responsibility is key
It's important to start talking about money from an early age. Simple games like "the store" or counting coins help children understand how money works and what it's for. Over time, they also teach children to distinguish between spending and saving and why it's worth thinking about goals, like saving for college.
In addition, US Bank has formed a partnership with Greenlight to support more families. Thanks to this collaboration, more than 67,000 parents and children already use the Greenlight card within the US Bank app.
Pay attention to the Greenlight card: it's going to surprise you
With it, children learn to manage, save, spend, and earn money—all under the bank's supervision and with parental controls. They receive an incentive: they earn a 2% reward on savings. In addition, the interactive lessons (Greenlight Level Up) have been shown to increase savings goals by 45% and their achievement by 115%.
US Bank emphasizes that financial education is valuable for the future. Talking openly about spending decisions, showing children that parents save, and teaching them to deposit allowances are simple but powerful ways to convey responsibility.
As children grow, it's suggested to implement more complex tools. From savings accounts to debit cards or even credit under supervision, so they understand interest, taxes, and financial history.
Importance of the message: US Bank knows it will be good for the future
Because a study by US Bank revealed that nearly one in four parents fears their children will depend on them financially as adults. That insecurity drives the bank to promote education at home.
US Bank adds that one conversation isn't enough. It's necessary to improve habits with concrete tools: opening a savings account together, making regular deposits, explaining why coupons are used or how decisions are made in a supermarket, and showing children how the bank app can track expenses.
The bank's response has been to offer free access to Greenlight Select (normally $69 per year) for customers with eligible accounts, and to soon roll out new features from the app. They also actively participate in community programs, such as Junior Achievement, to teach children and teenagers how to run a business and prepare real budgets.