By Gavin Boyle
Reese Witherspoon shared that she has mistakes from her past that greatly impacted her finances, and she believes every woman has some sort of financial ruin story.
“I do not know a woman who doesn’t have a disaster financial story in her past,” Witherspoon told the “Aspire with Emma Grede” podcast, per Fox News. “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.”
“A lot of what we learn [about finance] is one course – three days in high school. We’re lucky if you get three months. And that was the end of my financial learning. And then I became this woman. I was making money, and I was a young mom and I did not save correctly,” the actress continued. “I’m completely fine and I did well, but I could have done amazing if I had learned a few things, and a lot of them are mindset.”
Related: How Reese Witherspoon Prioritized Her Kids While Working in Hollywood
While Witherspoon has learned from this failure and now seems to have a hold on her financial future, most people are not a successful movie star who can recover from a mistake so easily. For that reason, Witherspoon is highlighting her past mistakes to encourage other women to walk a different path.
She discussed the importance of failure in the past, and even encourages parents to let their kids fail so they can learn, rather than have their security taken from them all at once after they leave the house.
“I see this a lot with parents – I don’t know when we stopped letting our kids fail. Like I learned so much from the paper I didn’t turn in or the demerits I got, so I got detention,” the actress said in 2023. “I was suspended from school when I was in fifth grade for talking in class and being disruptive and writing creative notes and passing them to my friends, and my parents didn’t say, ‘Uh, she didn’t deserve that’ and take me out of school. They actually let me sit in it and feel uncomfortable.”
“So I think learning from failure is actually a valuable tool that you can’t take away from kids, right?” Witherspoon continued. “You rob them if you don’t let them sit in the discomfort of the experience.”
This view of parenting comes as Witherspoon’s kids are the most important thing in her life. She doesn’t want them to fail, but she knows that success, in many cases, is built on the lessons we learn from past failures. It is encouraging to see Witherspoon apply this reality to her own life as well and discuss the financial failures that she has learned from – in order to teach others what not to do – rather than hide her past mistakes.
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