Matt Edmondson is a broadcaster and TV presenter best known for co-hosting a Radio 1 show with Mollie King four days a week, writes Jane Denton.
He is also the host of the Daily Mail’s new podcast Spent! which delves into celebrity guests’ money habits and fears.
The 39-year-old lives in south-east London with his wife and two daughters and runs a board game business with his brother-in-law, with successes including Egg Slam, So Wrong It’s Right and Noggin.
What was life like growing up?
I grew up in Portsmouth. Mum was a teacher and at one point also sold bacon door to door. My dad worked as a resources manager at a university and as a part-time teacher in the evenings.
My first job was working in a party shop. They kept magic tricks under the counter. Aged 14 I asked to see the manager and said: ‘I can sell these magic tricks for you.’
He let me do it, put me on commission and I took a cut of every magic trick I demonstrated and sold. I did pretty well out of it.
Rolling the dice: Matt Edmondson runs a board game business with his brother-in-law
Have you ever struggled to make ends meet?
My first proper job was on CBBC as a presenter. I did it for two years before there was a change in management and I was let go. I had no other way of making money or career prospects. I set up a stall in Greenwich Market selling trick decks of cards on the weekends. It was a brilliant lesson in selling. It kept me afloat for nearly a year and I’d make £1,200 over a Saturday and Sunday.
Are you driven by money?
Not particularly. While it’s great to have, I’m really driven by my creative passions. As long as I can sleep somewhere warm and eat, but still get to wake up and do what I want to do, then I am happy.
What spiked your interest in the Spent! podcast?
I find it hard to spend cash, having always been a saver. I’m intrigued to know how others spend their money. The questions I ask guests on Spent! include things like their biggest spending regret, which sparks intriguing conversations. Money is still a taboo. Having more open dialogue about it can only be a good thing.
Do you keep track of your finances?
I used to. I had anxiety and one of the ways it manifested was worrying about whether or not we had enough money. I’d keep a close eye on what was in our savings. Now I’m not on top of it at all.
Money talks: Matt Edmondson with his guest, comedian Jake Lambert, on the new Daily Mail podcast Spent!
Is it true you are a bit of a skinflint?
I’ve always lived frugally. I don’t like spending money on lunch. I also resent spending on hotel rooms. I’m going to a friend’s wedding next year. I’m delighted but I’ll need to stay in a hotel. Will I spend much time in the hotel? No. I’ll attend the wedding, sleep and then leave. It pains me to spend £200. I’d be better off sleeping in my car.
How else do you live frugally?
I’m not interested in flash cars or holidays. My first car was a Skoda Yeti and I was annoyed it cost £10,000. We now have a second-hand hybrid Mitsubishi Outlander costing £14,000, which I’ll run into the ground. To save money, we went to Norfolk for our summer holiday.
What was the best year of your financial life?
A couple of years ago my board games business – Format Games – landed three of our games in Walmart in America, who have around 5,000 stores. This was big for us. We’d gone from selling games out of my brother-in-law’s kitchen in the pandemic to dealing with hundreds of thousands of pounds worth of products.
The most expensive thing you have bought for fun?
I went to a magic convention and there was a stall selling a fantastic magic card trick, a wooden box suspended from the ceiling, which I purchased for £110. When I got the box home my wife told me we were never hanging it up in the house, so it’s in a drawer. One day I’ll have a party and perform the trick.
Most meaningful purchase you have made?
Two years ago my daughter Ivy, now nine, invented her own board game set in the ocean. For Christmas, I made her invention into a fully kitted-out, boxed game. I ordered 50 plastic characters to use in the game from Amazon for about £8. Ivy loved it.
What is your biggest money mistake?
I once purchased a house I hated. My wife and I quickly realised we didn’t like the house or area. A month after moving in we put it back on the market and sold it. It sold for £50,000 more than we bought it for, but it was stressful.
Best money decision you have made?
Starting the board game business. I had no knowledge but loved the idea. I licensed my first game, Obama Llama, to a company called Big Potato. They liked it and, two minutes after leaving a meeting, called me back. They were meeting with John Lewis the next day and wanted to pitch it.
When my brother-in-law and I decided to go it alone I had to figure out how to design board games and used YouTube videos. We also had to find a manufacturer. It was all very chaotic, but we created Ansagrams, a quiz game. The business has snowballed from there.
Do you have a pension?
I have a pension but I don’t know how much is in it or how much goes into it each month.
Do you own any property?
I live with my family in a four-bed house in London, which is the only property I own.
If you were Chancellor, what would you do?
I’d instigate a four-day working week. I’d also have schools running four days a week only too.
- Spent! sponsored by Nationwide is available now on YouTube, and wherever you get your podcasts. New episodes are released every Tuesday.