Chef Rosemary Shrager talks to ME & MY MONEY

Chef and TV host Rosemary Shrager once struggled to afford food and clothing before she became famous.

Shrager – who was famous in Castle Cook, Ladette To Lady, The Real Marigold Hotel and I’m A Celebrity – told Donna Ferguson that she had a privileged upbringing in London’s Regent’s Park, but lost her legacy and all her possessions in the recession. of the 1990s.

She went on to force six figure sums for her TV work. The 71-year-old will appear at Theakston Old Peculier Crime Writing Festival, taking place July 21-24. Her latest novel, The Last Supper, is out now.

What did your parents teach you about money?

They tried to teach me the value of money by keeping me very short of it. My father was a general manager first and then went into the banking sector.

My mother was a housewife, but when my siblings and I were young, she employed a cleaning lady and a nanny, and then we went to boarding school. She cooked and baked a lot and grew her own vegetables.

We lived in a beautiful house, designed by the famous Regency architect John Nash, in Regent’s Park in London. It was an absolutely beautiful place to live, the garden extended all the way to the old canal.

We had three houses – another overlooking Regent’s Canal, and a very old house in Cornwall that belonged to my mother.

Despite this, I had a Victorian upbringing and was kept very short. For example, my siblings and I had to wear our school uniforms during the holidays because they kept us short of clothes.

I remember once getting a few pounds to buy underpants – I couldn’t believe I had this money to spend. My mother was a difficult lady. I would worry about bringing friends home because I didn’t know what mood she would be in.

So although it was a privilege, I did not have a happy family life. Eventually my father ran off with the housekeeper and my parents divorced.

Have you ever struggled to make ends meet?

Yes. I almost lost everything overnight in the 1990s. My husband and I had sold our house in London and he invested all our money in houses in Cornwall. He put them on when interest rates rose. He couldn’t afford to finish the project.

The bank took everything from us. I had to sell all the land I inherited from my father to pay off everything. It got to the point where I couldn’t afford food, clothes, and everything else.

My husband never recovered from what happened to us and we broke up. Even now, 30 years later, I find it difficult to talk about it.

What I’m afraid of is that interest rates are going to go wild again and I’m sure there will be another recession.

How did you turn your fortune around?

I moved back to London and started making money. I had always worked as a chef because I loved the industry.

But now, instead of working because I liked it, I had to work to get a roof over my head. I lived in the guest rooms of three different friends at home for about four years.

I worked my ass off, levying everywhere at different restaurants. Cooking was my life.

Have you ever been given ridiculous money?

Yes. I was doing a TV show and the production company wanted to keep me exclusive. So in the late 1990s I was paid £10,000 for agreeing not to make another TV show with another production company. It was ridiculous.

What was the best year of your financial life?

It was 2001, thanks to my TV series and book, both called Castle Cook.

I’ve also done some fun game shows. TV paid a lot of money in those days. You would get £30,000 for just one week. In addition, I was a chef at Amhuinnsuidhe Castle in Scotland.

I’ve made more money since then, but that was the first time I made a six figure figure so I see it as my best year.

What’s the most expensive thing you’ve ever bought for fun?

Two handmade fiberglass plant pots for £2,000. They are on wheels so I can move the trees planted in them around my courtyard. That was an incredibly extravagant purchase, but I love being able to move huge trees.

What is your biggest money mistake?

I didn’t use that £10,000 check to make a down payment on a house. Instead, I wasted the money on family.

I don’t regret selling my land or my house during the recession. I did that for my husband because I loved him. Now I have everything I need back, through sheer hard work. I always tell people: never look back. You cannot change what happened in the past, but you can change the future.

The best money decision you’ve made?

Bought my house three years ago. It is a flat in a converted old chapel in East Sussex. I’ve remodeled it to be just the way I want it, with an office, two bedrooms and a studio kitchen where I give cooking demonstrations.

I’d rather not say how much it’s worth, but I’ve spent £100,000 on it and I think it’s increased in value at least that much. I plan to stay here for the rest of my life. At my age you need security.

Are you saving for retirement?

I started saving when I was 50. Now I receive it, along with my AOW and half of my deceased husband’s AOW.

He didn’t leave me a cent when he died, and I didn’t expect him to, because he had nothing. So I can’t tell you how excited I was to find out I was entitled to half of his pension.

Do you invest directly on the stock exchange?

No. I’ve always felt like I never had enough money to do that. I bought some Stellars which is a cryptocurrency. They immediately went down in value. They are a pain in the neck.

What is the one little luxury you treat yourself to?

One hour massage once a month. It costs me €100.

If you were Chancellor, what’s the first thing you would do?

I would fund kitchens in all high schools so that cooking classes could be taught, and so I could make home economics classes compulsory from the age of eleven.

I think it would help with the obesity crisis. I’ve met so many kids who think chicken comes from a piece of plastic.

What is your top financial priority?

So that I have enough money for my future and can leave everything I have to my children.