PROFESSOR GREEN wants to pass on his financial savvy to the young

Professor Green – real name Stephen Manderson – has released three albums and won three MOBOs and an NME award, writes Harvey Dorset.

The singer/songwriter, 41 was born in Clapton, east London, and grew up on a council estate. 

He left school at 13 with no qualifications. At 23, he released his first mixtape, Lecture #1, and won a £50,000 battle rap tournament in 2008.

He was married for two years until 2016 to former Made In Chelsea star Millie Mackintosh.

Manderson still tours as Professor Green and lives in London with his partner, actress Karima McAdams, and son Slimane, born in 2021.

What did your parents/family teach you about money?

Very little. I watched my nan work tirelessly, beginning at 4am cleaning banks on the Strand in London, on to Percy Ingle bakery before cleaning houses in Stamford Hill, and still have very little.

Lessons in life: Professor Green – aka Stephen Manderson – has released three albums and won three MOBOs and an NME award

I learned plenty of what not to do but received no verbal lessons with any intent. I saw plenty of suffering due to our relative poverty and the stress that came with visits from debt collectors.

The more support and mentorship for people to learn about money, the better.

Have you ever struggled to make ends meet?

Most definitely, even recently given a shift in work and unavoidable outgoings. Things could be worse but being avoidant in nature and struggling with poor executive function doesn’t make for great finances.

Encouraging young entrepreneurs, artists – everyone – to improve their understanding around finances or to seek and build support into their lives where they most need it is imperative to improve outcomes for people, businesses and ultimately the economy.

Have you ever been paid silly money?

Taking into account my background, yes, comparative to others. Now I’m in a position where if I get a record or one of my business ventures off the ground, I stand to do better than I ever have previously – given I’m my own boss and out of contract for both recording and publishing.

Timing hasn’t been on my side with previous deals I’ve signed, and poor management got me off to a relatively difficult start when enthusiasm led to a rather large blind spot and me being in two record deals at the same time.

What was the best year of your financial life?

Every year since 2010, I’ve been afloat irrespective of losses and challenges.

I’ve learned a lot and started to monetise my side hustles, such as my podcast, The Unlikely Dads Club, as well as numerous food ventures. Recently I helped launch a Young Entrepreneur Fund to provide grants and business support to people with a great idea – hopefully that support will help others to have their best financial year.

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

Without a doubt, a Rolex Day-Date II with diamond bezel. It cost £40,000 and was stolen – so I now wear a Whoop watch. Or my studio. Even when starting up a new venture, I always go back to music as a creative output – that has a value I can’t really put a price to.

Wedding day: Stephen with Made In Chelsea star and former wife Millie Mackintosh

What has been your biggest money mistake?

Never instructing a financial adviser, suffering decision paralysis and never creating passive income.

There are not many places where young people can learn to manage finances, let alone business finances, so mistakes are easy to make. Oh, and a lab diamond bought pre-collapse.

Best money decision you have made?

My home, a semi-detached house in London. For all of the challenges along the years, I’ve held on to it. The money I have in it is pretty much all I have.

Will you pass your money down or spend it all?

Ideally, what there is to pass down would be passed down without facing punitive inheritance tax^[1].

I’ve already paid tax on my earnings – the wages and commissions.

Do you put money aside in a pension?

Nope. I started paying early on when I was in regular employment, but never since I started earning as a musician.

If you were Chancellor, what would you do?

Tax wealth and not wages. We have poor social mobility and I don’t feel like opportunity is created and success is rewarded. Given the tax rates you enter as you begin to do well, it could be argued it’s punished. Yet huge corporations escape paying anywhere near what they should and generational wealth is hidden in trusts.

And I would suggest to whoever is charge of education that we make financial literacy a part of the curriculum.

What is your number one financial priority?

To make sure my tax bill is paid year by year and to continue tidying up my finances and be a better example of how to manage money than I experienced when I was younger.

• Stephen has partnered with Simply Business to launch the Young Entrepreneur Fund, offering £5,000 grants and business support to young entrepreneurs (simplybusiness.co.uk).