Sarah Michelle Gellar, the actress known for her iconic roles, has taken on a new role off-screen as a dedicated mother and advocate for financial literacy in her new partnership with Fidelity. In an age where financial knowledge is paramount, Gellar is committed to teaching her children about money management, setting an example for parents everywhere.
In an interview with Mom.com, Gellar shared how she teaches her children the importance of financial management and how her upbringing has influenced how she approaches conversations about money.
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“I was raised you don't talk about money and there's lots of different reasons you don't talk about money. In my case, it was because I think my mom didn't want to know how desperate the situation probably was and wanted to give me a little bit of a childhood,” Gellar said.
“But especially nowadays, it's really important because so much of it is figurative now. When I was younger, you had cash and you saw it and you saw how much you had and then it was less, and then maybe you took that cash to the bank and you put it in your checking account,” she added.
The mother of two acknowledged that managing your money has evolved since her childhood, and she says it can impact kids’ comprehension of finances. As a result, she started teaching her children money management at a young age and says Fidelity’s app Fidelity Youth has been a great tool.
“We took three mason jars, and we had the spend, save, and donate for when they got money for their birthdays or simple things like that, so that they understood if you wanted to buy something, you have to save up for it,” she said.
“And even if it was something small, they understood that early, and then it's meeting them where they are.”
As a mom, Gellar understands the value of teaching her children about financial literacy and believes those skills are essential to empower her kids to make sound financial decisions as they grow and the world of money evolves.
“The way I learned about the Fidelity app was my daughter came to me recently and said, ‘Look, mom, I need a credit card.’ And I was like, ‘Haha, no way,’” Gellar recalled.
“Because in my head, I'm like, she's just going to have no idea where the money comes from. And she said, ‘But this isn't a cash world anymore, and you give me cash to limit how much I can spend. But then places don't take it. Restaurants don't take cash,’” Gellar continued, adding that Fidelity lets you have “parental oversight, but the ownership goes to your child.”
The Fidelity Youth app has no account fees or minimum and allows children to invest safely.
“These are those lessons that they need to know so that they can be successful in life,” Gellar said, adding that she also loves that the Fidelity app lets you see where your children spend money.
Gellar's commitment to teaching her children about financial literacy sets an inspiring example for parents around the world. In a time when financial knowledge is integral to personal and financial success, Gellar's approach to educating her children about money management is a testament to her dedication to their well-being.
As for advice Gellar has for other parents looking to start the conversation about money, she says, “Meet them where they are.”
