“Whether it’s her, her best friend, her sister, her mom, her grandma, her auntie—she lost all her money or she got divorced and she got stuck with the bill, or you know debt, so much debt,” she continued.
“A lot of what we learn is one course in three days in high school. We’re lucky if you get three months,” she said.
Though Witherspoon said she is “fine” now financially, she said her relationship with money could have been even better if she learned a few things along the way.
“I did well but I could have done amazing,” she said. “A lot of them are mindset.”
During the podcast taping, Witherspoon also shared the best piece of money advice she has ever received.
“Don’t get into debt,” she said. “Do everything you can to not get into debt and pay off those credit cards or don’t spend the money like it’s yours. It’s not yours, girlfriend.”
Witherspoon said growing up, she watched her mother struggle with finances, adding she didn’t witness her mom or grandmother saving money at all, aside from her mother’s retirement funds built up from working multiple jobs. She said it was this formative experience that helped her “have a passion for helping women understand and also demystifying [money].”
Another piece of advice she received: Don’t let somebody control you with money.
“If somebody says ‘I’ll take care of it and I’ll take care of you and I’ll take care of this.’ That person could leave, that person can hurt you. You always keep your job. Your job is your life insurance,” she said.
