Reese Witherspoon isn't merely an Academy Award–winning actress. Among her companions, she's recognized as the “treasurer” of their circle—and during a recent podcast appearance, she spoke openly about how financial matters have influenced her perspectives on women's economic well-being.
TL;DR
- Reese Witherspoon, worth $400 million, is the "treasurer" of her circle, sharing financial insights.
- She notes many women have financial disaster stories, from divorce to debt.
- Witherspoon advises avoiding debt and keeping one's job as financial security.
- Her passion is helping women understand and demystify money management.
Following her significant success in Hollywood, Witherspoon, whose net worth is estimated at $400 million, states she's acquired considerable knowledge regarding finances. Some of this education stemmed from making mistakes and observing women she's acquainted with experience financial reliance within their partnerships.
“I do not know a woman who doesn’t have a disaster financial story in her past,” Witherspoon said on a recent episode of the Aspire With Emma Grede podcast .
“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.
The Legally Blonde performer commenced her career early, featuring in advertisements when she was merely 7. Witherspoon also established her own media enterprise, Hello Sunshine, which she divested in 2021 for $900 million (however, she continues to manage affairs and retains a position on the company’s advisory panel). Notwithstanding her numerous achievements, the 49-year-old stated she still tunes into every podcast concerning wealth or individual budgeting, and aims to assist women in managing their fiscal paths.
“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 had learned a few things along the way.
“I did well, but I could have done amazing,” she said. “A lot of them are mindset.”
The most valuable counsel Witherspoon has been given
During the podcast, 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 mentioned that during her upbringing, she observed her mother facing financial difficulties, noting that she never saw her mother or grandmother save any money, with the exception of her mother's retirement savings accumulated from holding several jobs. She stated that this significant early experience was the catalyst for her “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.