Michelle Heaton: ‘I once earned £20k sitting in a bath of yoghurt for SIX hours!’

Michelle Heaton – married to Irish businessman Hugh Hanley – has had tough times since singing with pop group Liberty X in the noughties. She’s had a cancer scare, involving major surgery, and past issues with alcohol she openly highlighted on Loose Women and a documentary. But’s she’s battled through all that to forge a successful TV career, appearing on many shows, including MTV UK & Ireland and Fáilte Towers. She was also a judge on You’re A Star and presented the Irish version of The Apprentice. Then Covid hit and she was unable to earn any money. She got into debt and came close to selling her home. But the 43-yearold turned her life around again with a new healthy-living business – Missionpossiblewellness.com

What did your parents teach you about money?

They taught me the value of money. I knew that they worked hard for it. I grew up in a former council house. Dad was a bus and then train driver while Mum raised us. Everything was done on a budget. McDonald’s would be a birthday treat, not an afterschool meal. We went on caravan holidays in England. But I knew no different.

Ever struggled to make ends meet?

Yes. The worst time started in the first Covid lockdown. My income at the time came from corporate gigs, photoshoots and speaking events. All of that got shut down. My husband, who works in the fitness industry, and I went from being a two-income household and earning similar wages, to just him earning. For almost two years I didn’t earn a penny. All of a sudden we had half the money in our bank account. We had lived life to the full. We’ve got two kids, aged 10 and eight, and I’m one of those mothers who can’t help but buy good things for my kids. Our attitude was: if we’ve got the money, let’s enjoy life. So we didn’t have much savings. Consequently, we are in debt.

How did you turn things around?

It was really scary. We started to discuss selling the house and downsizing. At one point, we were six months behind on our council tax. Luckily, the gigs are back now after Covid. I’ve paid off our council tax bill, got an accountant and got my finances back in good shape. It hasn’t been easy, but I know other people are far worse off. We weren’t living in poverty. The experience made me plan for the future.

Ever been paid silly money?

Yes, eight years ago… I was paid £20,000 for six hours’ work. All I had to do was sit in a bath of Greek-style yoghurt and eat some, as if I was enjoying myself. It was absolutely freezing. It was stupid money for such a weird notion, but I’d do it again tomorrow.

Best year of your financial life?

It was 2018, when I released my book, Hot Flush, and was on the ITV show The Real Full Monty. I did a lot of campaigns that year, too. I made a six-figure sum.

Most expensive thing you bought for fun?

An Audi convertible for £38,000 when I was heavily pregnant with my daughter, Faith, in 2012. I paid in cash.

Your biggest money mistake?

Buying that car. After Faith arrived, I realised her car seat wouldn’t fit in the back seat. What an idiot. I ended up selling it about four months after I had bought it, for around £29,000.

Best money decision you have made?

Getting on the property ladder early. As a band, we paid ourselves £5,000 a month from Liberty X and kept the rest of our earnings in the bank as a payout in case it all ended. I saved every month and three years after we started the band, in 2004, I used my savings to buy a two-bedroom flat in Canada Water in London for £375,000. I sold it five years later for about £475,000. That helped me move up the ladder to the family home I’m in now, which is my biggest asset.

Do you save into a pension or the stock market?

No. I’m not a gambler. My husband saves into a pension, and my hope is that he will never leave me. I also have a buy-to-let flat in Newcastle that will hopefully be a nest egg. I bought it for £210,000 in 2005 and I think it’s worth the same today.

Do you own any other property? Yes, my home. It’s a semi-detached four-bedroom house with a very private south-facing garden, on a private road in Hertfordshire. We bought it for £500,000 10 years ago and spent £200,000 renovating it. I think it is worth double what we paid for it.

What is the one little luxury you treat yourself to?

A new set of nails or infills. I spend £40 to £60 a week. It makes me happy.