According to a news statement from the corporation, “organisations committed to enhancing the financial well-being of employees and their families” can now utilise the Greenlight for Work initiative nationally.
The programme, which is provided as an employee benefit, provides access to Greenlight family financial and education solutions, which assist parents in educating their children life skills such as investing, earning, saving, and spending wisely.
According to Greenlight Senior Vice President of Business Development Matt Wolf, “introducing Greenlight for Work lets us empower millions of more parents with the resources they need to raise financially smart children.”
Timothy Sheehan, co-founder, and CEO of Greenlight, stated that research conducted by his business revealed that 90% of parents wished they had saved more money for their children’s future and college expenses.
Sheehan and his colleagues saw it as “a tremendous problem,” but they also understood that the majority of parents lacked the extra funds to invest, so they started brainstorming solutions to make investment more accessible to these families.
Financial literacy is a problem that affects all age groups. Although many individuals supposedly find it difficult to grasp ideas like inflation or compound interest, it is reportedly declining in America – not that it was particularly high to begin with.
According to an analysis conducted by the Financial Industry Regulatory Authority last year. In 2009, most respondents to FINRA’s financial literacy survey were able to correctly reply to three out of five questions.
