Can kids make purchases with the money in their Savings Goals?
Great question! Purchases can only be made using the balance on a child’s ‘Spend’. Money tucked away in your Savings Goals remains there unless the child moves the funds over to the ‘Spend’ tab to make a purchase.
To move money over from your Savings Goals to your Spend, please see below:
- Login to your child account, and select the ‘Savings Goals’ tile. (Here you can scroll down to see how much money you have already allocated to General Savings, and to Goals.)
- Select ‘Move Money’, then select ‘General Savings’ or a Goal in the ‘Move From’ drop down
- Select ‘Spend’ in the ‘Move to’ drop down
- Choose the amount you would like move, and select ‘Move Now’
- Success! The money has been moved from your ‘Savings Goals’ to your ‘Spend’!
If you have any questions, please don’t hesitate to reach out to our support team through the in-app chat!
Notes:
- Please note that your child’s ‘Savings Goals’ is not a Savings account and will not receive interest or any other earnings.