Romantic novelist Erica James has sold more than five million copies of her 26 novels since she was first published in 1996, writes Peter Robertson. The latest, An Ideal Husband, is out this week.

Erica's previous bestsellers include Gardens Of Delight, Tell It To The Skies, and Summer At The Lake. 

Erica 64, is divorced with two sons - Edward, 40, and Samuel, 38 - and lives in Suffolk.

What did your parents teach you about money?

They didn't set out to teach me anything, but I picked up on their worry at not having enough. I don't think my father, a crop sprayer, was particularly good with money. My mother didn't work, and I remember her worrying about money.

I was very conscious of needing to earn money of my own and, as soon I was 13, I was looking around to get work on Hayling Island, on the Hampshire coast, where I grew up. I did babysitting, worked as a chalet maid, and in the summer worked in a beach kiosk.

Most of my financial advice now comes from my older son - he works for Netflix advertising and has his head screwed on the right way. Also, my sons have to protect their inheritance!

What was your first pay packet?




The write stuff: Romantic novelist Erica James

I was a chalet maid at Sinah Warren, then a holiday camp and now a Warner Hotel. I would only have earned about 35 pence an hour, but I remember feeling proud of getting the money in a brown paper packet. When I was 16, I did shift work at IBM.

Have you ever struggled to make ends meet?

When I got divorced in 1995, the absolute worry was what was going to happen financially because, having been a stay-at-home mother, I hadn't done paid work in 11 years. But A Breath Of Fresh Air, the book that I'd been writing as a hobby, was published in January 1996. I'm so lucky that happened just when I needed it. I had no expectations for sales and now so long as everything is ticking over and the royalties are coming in, that's OK.

Have you ever been paid silly money?

My agent then negotiated a fantastic two-book contract of £50,000. At the time I felt that was silly money, having been counting the pennies. My self-esteem suddenly went right back up again after being on the ground.

What's been the best year of your financial life?

I remember getting royalties for my third book, Airs And Graces, in 1997 and buying my first car, a Honda. It wasn't flash but it had electric windows so I thought I was the bee's knees and felt I'd made it.

Are you a spender or a saver?

A bit of both. I had a tax rebate one year and, instead of putting that money somewhere sensible, I bought a painting by an artist I love.

Other spendy moments included taking my sons on lovely holidays. But I've also had to save, of course, which I've done with a pension and Isas. 

Most of my investments are with Nutmeg. My son put me on to Nutmeg and I find them very good. I don't play the market, but Nutmeg do it on my behalf I suppose you could say.




RELATED ARTICLES

Previous

1

Next



Cannon and Ball started as singers but switched to comedy -... I'm a saver rather than spender but always lose money on...



Share this article

Share



HOW THIS IS MONEY CAN HELP

What you need to know about money every week: This is Money podcast



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

I bought a two-bedroom apartment overlooking Lake Como, and I thought: 'Wow, this is the chalet maid from Hayling Island made good!' I owned it for 15 years, and that was a really fun time in my life, though disappointingly George Clooney, who lived only 20 minutes away, never called round for coffee.

I sold it during Covid, but didn't make a lot of money because prices have kept steady on the Italian property market.

What's your biggest money mistake?

I haven't really made one - I'm risk averse. But talking of mistakes, when E L James had great success with the Fifty Shades series of erotic novels, some of my readers thought I had changed my style so I had to explain it wasn't me. 

I received an email from Vogue in Russia wanting to do an article on me and I thought: 'This is very odd, they've got the wrong E James.'

I considered playing along with it for a while, but wrote back saying: 'I think you've got the wrong person.'




Success story: Erica splashed out on a second home close to George Clooney, above, with his wife Amal on Lake Como

The best money decision you've made?

Each time I've moved house, each one is a new project, so I lavish time, money and love on creating a new home for myself - something I enjoy doing. I lived in a good area of Cheshire for many years, but always knew I would live somewhere else. 

Then 11 years ago when my sons had long since left home, I chose Suffolk out of the blue having visited it and thought: 'What a lovely place. I'll go there.'

Do you have a pension?

I started a pension when I began earning money as an author. I had three but to simplify things, I put them in one pot.

Do you own any property?

I used to be 'Two Houses James', with properties in Cheshire and Lake Como, but I just have the one now. It's a 500-year old thatched cottage - very Miss Marple. But I plan to downsize in the near future. I have been a collector of books, but I'm trying to be strict and getting rid of loads.

If you were Chancellor, what would you do?

Resign straight away. That's not part of my skill set. But I'd let Jeremy Clarkson head up the farmers and make sure they don't get taxed into oblivion.

What is your top indulgence?

Every year when I travel to see my sons, in Tokyo and Los Angeles, I fly First Class and you get a bed, a tablecloth on your pull-out table, and proper cutlery. That is an indulgence and I feel slightly guilty about it. I also have passions for dolls houses and F1. I have been to a number of F1 races, including Monaco and Abu Dhabi.

Dolls houses are an addictive hobby and I try to hold back but I have three for myself and one for my granddaughter.

What is your No 1 financial priority?

I have a good accountant and I put aside money for tax straight away, always making sure I've got it ready to pay tax and VAT bills. That's my big priority - it's a fear of being in debt.


An Ideal Husband Celebrity Deep Fake by Erica James, (HQ, £9.99) is out now.


This is Money podcast


What next for house prices and is it harder to buy a home now vs 1974?

Are interest rate cuts about to stall - and what does it mean for you?

Why have crypto prices soared - and should you be wary of a tax sting?

What Trump means for your money - and a 10th birthday

Will the Budget cost you money - and will Rachel Reeves' plan work?

Public vs private sector pensions - how to avoid a race to the bottom

More This is Money podcasts