Could You Be A Secret Millionaire?

Is there a point to accumulating money? What's it all for?

I've recently been watching a new TV series on Channel 4 called The Secret Millionaire. And it's been a revelation. If you've not caught it, it's essentially about various millionaires who go undercover in the most deprived areas of the country in order to find someone 'worthy' [my word] who could truly benefit from an unexpected cash donation.

This week's episode featured a multi-millionaire called John Elliott who manufactures water coolers that he exports around the world. Apparently, he's worth £60 million and I'm not surprised. Quite apart from the fact that he has clearly spent 40 years working damn hard, he has, in my view, the right attitude towards money, which is something along the lines of: "You can only spend £1 once - so spend it wisely"

Do you think he reads The Motley Fool, perchance? Because we've been saying that for years!

In an article a couple of years ago, I described my former self as a profligate spender who thought money was there to be spent. These days I'm 'a rampant saver with a keen eye on a comfy, and early, retirement'.

It's because, like John Elliott, I now realise that I really can only spend £1 once. Every time I fail to shop around for a better deal, it means that I am wasting my precious hard-earned pounds and delaying my comfy retirement by days, weeks and, even, years. So, I am very choosy about how I spend my money.

I spend it on my 'needs' rather than my 'wants' (although, admittedly, I occasionally succumb to buying something purely for pleasure. The 'Take That' concert I saw at Wembley in the summer was absolutely fab, thanks!)

I also don't care about keeping up with the Joneses. I happen to know that, while one family up the road from me have a very nice car, they are also up to their necks in debt and have had to remortgage their house twice in the last five years to release much-needed equity to pay the bills.

The other day I totted up the family assets/debts and realised that my husband and I are doing quite well financially. It made me feel good and that's not meant in a smug way. The fact is, just like our water cooler millionaire, at some point in the future, I'd like to be a 'secret millionaire' so that I can help people too.