Fame & Fortune: Emma Crosby

How much money do you have in your wallet?

Not much - I have never been one for carrying huge amounts of cash. I lent my boyfriend a tenner this morning because he's lost his card. I've got about £10 left.

What credit cards do you use?

I went through a phase of having lots of them but these days I just have one. It's an MBNA Rewards card in partnership with American Express [no longer available to new customers]. I don't pay off my bills in full each month, which is very silly.

Are you a saver or a spender?

Somewhere in-between. In my twenties I was a bit of a spender and would frequently slip into my overdraft. I now have a strict monthly budget but seem to be spending more on dull demands such as pensions and house maintenance, which doesn't leave much for the fun stuff.

How much did you earn last year?

My parents always told me it was bad manners to talk about how much you earn. However, I will say that I have been given a new contract with GMTV, which I'm delighted with. It's a six-figure salary. Even though there's a lot of press speculation about which presenters may leave the programme, it's business as usual here.

Have you ever been really hard up?

I'm very lucky that I've always had a comfortable existence. When I moved to London and got my first job working for the Money Channel [in 1999], which has since gone bust, I started on £15,000.

Do you own a property?

I own a flat in southwest London, which I have had for six years. I'm fortunate that I got on the property ladder when I was about 25 - but only because my parents paid the deposit. It's very small with two bedrooms, two bathrooms and a garden. I bought it for £405,000 and haven't a clue what it's worth now.

I also have a two-bedroom flat in Cape Town, which has views of Table Mountain. I paid £160,000 for it two years ago and it's now worth about £200,000. I rent it out and with the World Cup this year I'm going to market it hard.

What's your outlook for 2010?

It's going to be another tough year - probably tougher than 2009. Interest rates will go up at some point but I don't think people are really thinking about that yet. I'm starting to overpay on my mortgage. It's a 25-year repayment loan and I've just come off the fixed rate on to the standard variable rate, which is not much cheaper at all. My priority is to try to pay it down as much as I can because I'm really worried that as soon as rates go up I'm going to get whacked.

What was your first job?

I worked in the food department of my local Marks & Spencer when I was doing my A-levels. I found it really hard work but that's where I got better at arithmetic because I was adding up constantly.

What is the most lucrative work you have ever done? Did you use the fee for anything special?

When I was at Sky I did bits of corporate work, which can pay well. Before the credit crunch, I made a corporate video for ING, the Dutch bank, and got about £18,000 for a couple of days' work. I put the money towards the Cape Town flat.

Are you better off than your parents?

Yes. It's an odd feeling when your salary exceeds that of your parents. They are both in retail: my dad in the head office at Sainsbury's and my mum used to work at M&S.

Do you invest in shares?

Not at the moment - but only because I haven't got round to it. I was in a management scheme at Sky which offered share options. I managed to sell them well before the crash and must have made about £25,000. When I was eight, my mum bought me some shares in TSB, later taken over by Lloyds, and I held on to them until I finished university. I sold them for about £11 each, which is incredible considering how little bank shares are worth now [Lloyds shares are currently at 56.8p] and used the money to clear my student debts.

I have reported on two stock market falls - in 2003 and 2008. That's when you should buy but it takes nerves of steel to get in at the low. The markets have come up but there is probably still value there.

What's better - property or pension?

A mixture of both. I've recently set up my own personal pension with Axa because I don't get a work-related one anymore, which is a shame. That's one of the things with being on a contract.

What's been your best investment in life?

It would probably be property - that and my career.

What about worst?

I went through a phase of buying expensive pieces of clothing or shoes but I'm more cautious with money now.

What's the most extravagant thing you have ever bought?

About four years ago I bought a beautiful yellow skirt from the MaxMara shop on Bond Street, London. It cost £500 and I would never spend that much on one piece these days.

Do you manage your own financial affairs?

I have a great independent financial adviser and accountant who are trying to sort out my financial future. It's quite eye-opening when you realise how much money you'll need when you retire so I'm saving more - but not enough. I set aside about £1,000 a month into my pension.

What aspect of the tax system would you change?

As far as 50% tax is concerned, I think it's fair for people who earn more to give more back. I don't think many high earners would disagree with that but you have to strike the right balance. On the banking bonus issue, those who earn telephone-number salaries should pay more tax but you can't lambast everyone in the City because there are many people who don't earn big salaries but who are lumped into the same bracket. Nevertheless, you are not going to get me being a cheerleader for banking bonuses.

What is your financial priority?

Saving for a rainy day. And also spending on my loved ones - my family, friends and godchildren.

Do you play the lottery?

No. I just never get round to it.

What is the most important lesson you have learnt about money?

You should never spend your capital. That lump sum takes years to save but seconds to spend.