First Apprentice winner Tim Campbell talks to ME & MY MONEY

Tim Campbell, former winner of TV show The Apprentice, is financially shrewd. He invests in property, pensions and the stock market, but he also likes the high life. 

He drives a Mercedes worth more than £50,000 and likes wearing expensive watches and well-made suits. Yet his favourite ‘luxury’ is a homemade cinnamon bun. 

He tells Donna Ferguson that he hopes to create a TV show about financial literacy that people will talk about in the same way they chat about Love Island. 

The 45-year-old businessman, the first ever winner of The Apprentice in 2005, recently took Claude Littner’s seat as an adviser to Lord Sugar on the hit BBC show. In 2007, he established the The Bright Ideas Trust and in 2012, he was awarded an MBE for services to enterprise culture. 

An ambassador for charity Prostate Cancer UK, he also works as marketing director of financial education business thezishi.com. He lives in London with wife Jasmine, 49, and their children, Kayla, 21, and 12-year-old Aaron. 

What did your parents teach you about money? 

It was all about the need to make ends meet. Money was scarce – my mum was a single parent with three children to look after. My dad had a record store in Hackney market, London, but he didn’t want to be in our lives and made no financial contribution to our upbringing. 

Given we didn’t have much money, there was a need to save to make sure we had enough to pay our bills. We knew we couldn’t afford trips out, or to shop at supermarkets that didn’t have discounted deals. Mum was prudent and frugal. 

Her main job was working as a care assistant for elderly people who needed help at home, but it wasn’t well paid. So she also used to do cleaning and work as a seamstress making clothes and curtains for neighbours. 

She is a hero to me. She was entrepreneurial, but she never saw herself that way.

Have you ever struggled to make ends meet? 

Yes, when I was a psychology student. I was the first person in my family to go to university and surviving on a tight budget was stressful. I didn’t want to put any pressure on Mum because I knew she didn’t have the money to help me. At one point, I couldn’t even afford a Pot Noodle. 

I got a part-time job, working four hours a day for Transport for London as a station assistant, while juggling my university work. I realised I never again wanted to be unable to afford essentials. It was a great motivator to work hard. 

Have you ever been paid silly money? 

Yes. Once, I was commissioned to do an appearance on a TV show. Unfortunately, the production didn’t happen but because I had a lawyer who had got me a great contract, I was still paid tens of thousands of pounds. 

My initial reaction was to return the money. My view was: I didn’t do anything. In the end, I gave a substantial slice of the money to charity. I’m a big believer in karma. 

What was the best year of your financial life? 

It was 2010 when a recruitment business I had invested in was sold to another company. I made a good six-figure sum. 

The most expensive thing you bought for fun? 

It was a white Mercedes-AMG GLE, three years ago. It cost more than £50,000. I still have it and I love driving it. I’m also partial to nice watches which cost a few thousand pounds – and I love a well-made suit.

What is your biggest money mistake? 

Getting caught up in the Fomo – fear of missing out – on cryptocurrency. The hype around it was alluring to the point that I dabbled. But I didn’t understand it. I lost a couple of thousand pounds as a result. Now, I only invest in things I understand. 

The best money decision you have made? 

To get on the property ladder while young. My wife and I purchased a one-bedroom flat in Manor Park, London, for £80,000 in 2006 when I was in my early-20s. As a result of buying so young, we have been able to move up the property ladder – and now haven’t got a massive mortgage. 

‘Weak spot’: Tim is partial to a cinnamon bun, costing around £4

Do you save into a pension or invest in the stock market? 

Yes, I do both. I started saving into a pension when I was 20 and working for Transport for London. I have saved for my retirement ever since.

I started investing in the stock market about ten years ago. I don’t have a financial adviser. I’m part of a club called Stockpickers Academy where members share ideas about investments. I mainly invest in the financial sector – financial services, energy and logistics businesses. With the right advice and knowledge, I think it is a good idea to invest in the stock market. 

My mum grew up thinking that leaving money either in the bank or under the bed was best. But she didn’t take into consideration inflation and the reducing buying power of her money. 

Do you own any property? 

Yes, a four-bedroom house just outside of East London which my wife and I bought in 2012. It cost us around £500,000 and has gone up in value since then. We also own three two-bedroom buy-to-let properties in London. 

What is the one luxury you treat yourself to? 

I like a cinnamon bun. It’s my weak spot. Once a week, I’ll spend £3 to £4 on a really good, homemade bun from Borough 22 Doughnuts in Greenwich, South London. 

If you were Chancellor what is the first thing you would do? 

I would adapt the energy financial support package so people on low incomes get most support. It should be means-tested, and account for people’s energy usage. 

You could get people to reduce the amount of energy they use by offering more support to those who insulate their homes, install solar panels and use LED lights. 

Do you donate money to charity? 

Yes, I do. I think it is important that if you are blessed you share those blessings with others. I suffered from testicular cancer years ago, so I saw the proverbial lights flash before my eyes. 

My biggest concern as I get older is prostate cancer. One in eight men get it and the odds are higher for black men: one in four. So I donate to Prostate Cancer UK, along with other health and education charities. 

What is your number one financial priority? 

To invest in creating a TV show about financial literacy that people will talk about the way they do about Love Island. 

I think if everybody knew how to invest, save and manage money effectively, people would be a lot less stressed, particularly people in the lower socio-economic groups. TV is powerful and I want to use it to champion financial literacy.