Celebrity money secrets... with Strictly champion Harry Judd
Drummer for the band McFly, Harry Judd, is used to a lot of female attention but his recent turn on Strictly Come Dancing, which saw him crowned champion, has given him a whole new fan following. The band is due to tour again March and April 2012, but even though Harry lives the life of a pop star he's pretty sensible with his money.
My spending weakness?
I won't spend anything for a while and then I'll have a burst of buying things.
The most I've spent on a single item
Aside from a flat and holidays, it was probably a car - a BMW. But I drove it through some deep puddles and the water damaged the engine, so I don't have it any more.
My first job and pay packet...
I went straight from school into McFly, so the band is my first job, apart from temporary work for a company called Simply Salmon. It was a factory job, packing the orders, but it only lasted a week and I can't remember how much I was paid.
Do I own my own home?
Yes. I bought a flat about five years ago.
Credit cards: friend or foe?
I just stick with my debit cards. I think credit cards can be a danger once you start spending on them, although obviously it depends on your situation. With debit cards, you know what you're spending - I think if I had a credit card, I'd forget what I'd spent and get into trouble.
My attitude to money:
It can be stressful managing your money. It sounds corny, but I just want to be happy, so I try not to worry too much. I'm in the fortunate position of earning a decent amount at a young age, so I try to be responsible.
Best financial lesson I've learnt:
My dad has always been really good at teaching me about money. He taught me to enjoy myself, but to feel sure that I'm in control of my finances too.
Do I organise my own finances?
As I said, my dad helps by advising me quite a bit. I like being able to ask him what he thinks, but I've always been fairly good with my money.
Stocks and shares or cash?
I've been pretty disciplined with savings accounts and individual savings accounts, and my dad is quite keen for me get into stocks and shares, so that will be next. I've already got a pension, though there's not that much in it at the moment.
Moneywise spoke to Harry back in September 2009 to find out about his finance habits. The above is a reprinted version.
Used by the holder to buy goods and services, credit cards also have a monthly or annual spending limit, which may be raised or lowered depending on the creditworthiness of the cardholder. But unlike charge cards, borrowers aren’t forced to pay the balance off in full every month and, as long as they make a stated minimum payment, can carry a balance from one month to the next, generating compound interest. As the issuing company is effectively giving you a short-term loan, most credit cards have variable and relatively high interest rates. Allowing the interest to compound for too long may result in dire financial straits.