Keke Palmer Recalls Being 'So Spooked' Filing for Bankruptcy at Age 18: 'What Went Wrong?'

Mar. 15, 2025

Keke Palmer.Photo:Slaven Vlasic/Getty

Slaven Vlasic/Getty

Keke Palmeris recalling a time of real financial stress.During an appearance at the Building Wealth Today for Tomorrow financial literacy event in Chicago on Oct. 12, Palmer, 31, revealed that she declared bankruptcy at 18, perAfrotech.“I was so spooked,” she said. “I was like, ‘What went wrong?' ”Palmer, who began her Hollywood career at age 9, said she and herparentshired a business manager in her teenage years. Although “that has helped me immensely,” she said, filing for bankruptcy later became essential.Keke Palmer.Rob Kim/GettyNow, theNopestar invests and spends “way under” what she can afford. “I wanna invest in my business. So if I wanna invest in my business, then the material things that I’m having currently might have to take a short [break]. Instead of wearing Gucci, I’m wearing Zara. I live in a good place. I drive a cool car ’cause my money is going elsewhere.”Palmer went on to specify: “I got a Toyota right now in my driveway.”Never miss a story — sign up forPEOPLE’s free daily newsletterto stay up-to-date on the best of what PEOPLE has to offer​​, from celebrity news to compelling human interest stories.Speaking to PEOPLE this March, theEmmy-winningPasswordhost said finances are something she talks about frequently with her parents, Sharon and Lawrence “Larry” Palmer. Early in her career, they hired the business manager because they “needed to get some financial literacy as a family… we grew together in our understanding of money.”In February 2023, Palmer welcomed sonLeodis “Leo” Andrellton, who she shares with her ex-boyfriend,Darius Jackson. Motherhood has also changed how she thinks about money, she told PEOPLE.“Overall it’s just made me think about how to really make smart choices on where I’m putting my money,” she said. “In terms of investments or property and just the kind of home I want to have, or what’s best for my son and what should I be spending things on… I’m the kind of person that has never wanted to be afraid of money and let money control me, or make me feel worried all the time.”Keke Palmer.JC Olivera/GettyIn addition to her acting and hosting projects, Palmer launched YouTubestreaming network KeyTvin 2022,reportedly investing$500,000 of her own money. She is also acting in and producing a yet-to-be-titled film from director Lawrence Lamont costarring singerSZA.

Keke Palmeris recalling a time of real financial stress.

During an appearance at the Building Wealth Today for Tomorrow financial literacy event in Chicago on Oct. 12, Palmer, 31, revealed that she declared bankruptcy at 18, perAfrotech.

“I was so spooked,” she said. “I was like, ‘What went wrong?' ”

Palmer, who began her Hollywood career at age 9, said she and herparentshired a business manager in her teenage years. Although “that has helped me immensely,” she said, filing for bankruptcy later became essential.

Keke Palmer.Rob Kim/Getty

Rob Kim/Getty

Now, theNopestar invests and spends “way under” what she can afford. “I wanna invest in my business. So if I wanna invest in my business, then the material things that I’m having currently might have to take a short [break]. Instead of wearing Gucci, I’m wearing Zara. I live in a good place. I drive a cool car ’cause my money is going elsewhere.”

Palmer went on to specify: “I got a Toyota right now in my driveway.”

Never miss a story — sign up forPEOPLE’s free daily newsletterto stay up-to-date on the best of what PEOPLE has to offer​​, from celebrity news to compelling human interest stories.

Speaking to PEOPLE this March, theEmmy-winningPasswordhost said finances are something she talks about frequently with her parents, Sharon and Lawrence “Larry” Palmer. Early in her career, they hired the business manager because they “needed to get some financial literacy as a family… we grew together in our understanding of money.”

In February 2023, Palmer welcomed sonLeodis “Leo” Andrellton, who she shares with her ex-boyfriend,Darius Jackson. Motherhood has also changed how she thinks about money, she told PEOPLE.

“Overall it’s just made me think about how to really make smart choices on where I’m putting my money,” she said. “In terms of investments or property and just the kind of home I want to have, or what’s best for my son and what should I be spending things on… I’m the kind of person that has never wanted to be afraid of money and let money control me, or make me feel worried all the time.”

Keke Palmer.JC Olivera/Getty

JC Olivera/Getty

In addition to her acting and hosting projects, Palmer launched YouTubestreaming network KeyTvin 2022,reportedly investing$500,000 of her own money. She is also acting in and producing a yet-to-be-titled film from director Lawrence Lamont costarring singerSZA.

source: people.com