Ferne McCann, originally from Brentwood, gained fame as Miss Essex in 2012 while working as a hairdresser. She became widely known as a cast member on the reality TV series The Only Way Is Essex from 2013 to 2016, and later participated in I’m a Celebrity … Get Me Out of Here. Following the birth of her daughter, Sunday, in 2017, she starred in the ITVBe documentary series, First Time Mum. Sunday’s father, Arthur Collins, a scaffolder, received a 20-year prison sentence shortly after her birth for involvement in a nightclub acid attack. At 34, McCann recently appeared with her fiancé, Lorri Haines, in the series My Family & Me, documenting life after welcoming their daughter, Finty.

McCann shared insights into her financial habits, stating, “I rarely carry cash and prefer mobile payments. It’s perhaps too convenient. Although I’m not sentimental about cash, I encourage my children to save using money jars, particularly my eldest, Sunday, who is seven and still learning the value of money. It’s important for her to understand that money requires effort.”

What credit cards do you use?

“I have three American Express credit cards—one personal and two business-related. While I accumulate Amex points, I’ve never utilized them in the six years I’ve been a cardholder. I make sure to pay off my balances monthly to avoid any debt, which I find unsettling.”

Are you a saver or a spender?

“I tend to manage my money wisely, though I do enjoy spending on food and hosting gatherings. I’m not materialistic, but I occasionally indulge in splurges. My priorities have changed significantly since becoming a parent; I now prioritize investing in my children’s education.”

How much did you earn last year?

“My earnings have increased compared to the previous year, but I’m not one to disclose specific figures. I prefer to maintain privacy regarding my financial matters.”

“I have multiple income streams; my Herbalife Nutrition network marketing business has provided stability during less prosperous times. I also manage my brand through Instagram collaborations, and we have a mental health app called Shoorah, which I don’t draw a salary from as it’s still developing. My journey from being a hairdresser to where I am now has been remarkable, as I always aspired to be in the spotlight and on screen.”

Have you ever faced financial hardship?

“During my time as a hairdresser, my income was far from the minimum wage, earning between £1,000 and £1,300 a month. I was fortunate to live with my mother, who supported me without asking for rent.”

Do you own property?

“I still own the house I purchased at 27, which I am proud of. My mortgage is now covered by tenants while we rent closer to Sunday’s school. This location suits us well, and I often ponder where I’d like to live next. While I have considered moving to the countryside or abroad, living close to my mother remains a strong factor in my decisions.”

Are you financially better off than your parents?

“My father was a commodity trader on the stock exchange, now retired in Devon, while my mother transitioned from being a housewife to a sports therapist. I believe I’m better off, and my father instilled valuable financial lessons in me about managing money, emphasizing that one can learn during tough times. My mother, on the other hand, always reminds me to be prudent with my finances.”

Do you invest in shares?

“I do invest, but typically on the advice of knowledgeable peers. I focus on what I’m familiar with. My investment in Shoorah is doing well, though I’ve stepped back from direct involvement to allow more experienced leadership while I participate in Dancing on Ice.”

What’s better for retirement—property or pension?

“I initially contributed to a pension but paused due to a less successful financial year. My partner encouraged me to prioritize living in the moment. In the future, I hope to explore property investments along with a pension plan to secure my retirement.”

What’s been your best investment?

“Shoorah is my best investment; it’s making a meaningful difference in mental health and well-being. Since its launch in May 2023, the projections have been encouraging. Although I’ve stepped back from day-to-day operations, I still hold investment and shares in the company.”

And the worst?

“My clothing brand was a disappointment. Despite the excitement surrounding it, I lacked adequate time and investment to make it successful. Although we eventually closed the brand, I learned crucial lessons from that experience and built resilience to try again in different ventures.”

Your most extravagant purchase?

“I once purchased a black Lamborghini Urus, which was a significant expense. While I thought it was a fantastic car at the time, I’ve come to realize that such extravagance doesn’t align with my current values. I questioned my decision right after the purchase. I’m much happier now with my more modest Tesla.”

“My priorities have shifted beyond seeking external validation through flashy possessions. Reflecting on the Lamborghini, I felt out of place and was eager to sell it, accepting a loss in the process to move on.”

What’s your money weakness?

“I love hosting and indulging in high-quality food. There’s an upscale farm shop nearby that, while expensive, offers delightful options. However, shopping there can feel like a splurge, with prices for premium steak ranging from £60 to £160. It’s hard to resist their high-end products.”

What is your financial priority?

“My focus is to ensure a stable future for my daughters. Sunday currently attends an excellent school, which I want for Finty as well, prompting me to consider the implications of having more children. I believe working hard is essential for a fulfilling life, and I’m committed to instilling that lesson in my girls.”

What if you won the lottery?

“Despite having played the lottery only a handful of times, if I won, I’d love to travel the globe with family and friends, alleviating their financial burdens. However, I would need guidance to avoid making hasty purchases like another extravagant car.”

Do you support any charities?

“I’m involved with Mary’s Meals, which feeds children in impoverished nations, and serve as an ambassador for Cash for Kids, supporting underprivileged children in the UK.”

What is the most important lesson you’ve learnt about money?

“Money is a tool, not a measure of success. I’m not driven by wealth alone, but I believe that hard work and passion naturally lead to financial reward.”

Ferne McCann is the co-founder of Shoorah.