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Millionaires
prefer Gap to Gucci
Mind
of a Millionaire - starts Tuesday 7 October, BBC TWO at 9.00pm
Britain's
millionaires are careful spenders who would rather snap up high
street bargains than splash out on designer labels, a survey commissioned
by BBC TWO's Mind of a Millionaire has revealed.
Forty
two per cent of those interviewed for the biggest ever market research
survey of Britain's millionaires said that they spent less than
£500 a year on clothing.
The
survey also found that a third of millionaires (38%) spend under
£60 a week on their weekly food shopping.
The
survey, which forms the basis of the series, was commissioned to
learn how Britain's millionaires live, how they spend their money
and what really matters to them.
The
answer, not surprisingly, is money, money and more money. Their
number one priority is saving. Money is more important to them than
love or marriage, and, if they were given more money, they would
invest it to make even more money.
Their
attitude could be attributed to their upbringing – over half
(59%) of the self-made millionaires surveyed came from poor or ordinary
backgrounds.
Sixty
per cent described themselves as either average or lazy at school
but only 1% had ambitions to do as little work as possible.
The
average self-made millionaire works 60 hours a week. Half stay in
contact with the office while they're on holiday and 14% of them
refuse to switch off.
However,
the survey found that millionaires do like their holidays - they
take at least three a year. Multi-millionaires take five a year
and they spend on average £14,000 annually on breaks but their
number one spending priority is saving and investing.
So
what are millionaires like as people? The survey found that they
are competitive, they like taking risks and they profile as aggressive,
abrasive and self-confident.
When
asked what they thought it took to make a million, most self-made
millionaires answered "hard work".
The
survey also reveals that the favourite millionaire meal is roast
beef dinner and that the average millionaire has two cars. They
prefer to drive a Mercedes but also like to have a four wheel drive
parked outside. Most live in homes with four or more bedrooms.
Mind
of a Millionaire provides exclusive insight into what it takes to
make a lot of money by getting up close and personal with diverse
and inspiring self-made millionaires. Each programme examines their
success and the lessons we can learn from them.
The
series includes high profile faces such as Sir Richard Branson and
Anita Roddick but it also discovers some of the new breed of British
self-made millionaires like Alexander Amosu who made his fortune
from mobile ringtones in his early twenties and mum of two Sarah
Tremellen who set up her own lingerie company following the birth
of her first child.
If
any of the above information is used, BBC TWO's Mind of a Millionaire
must be credited.
Notes
to Editors
The
survey was conducted by wealth research specialists, Tulip Financial
Research Ltd, who carried out 300 thirty minute phone interviews
in February 2003 with a representative sample of UK millionaires.
The
extensive survey is broken down into statistics on millionaires
who own their own companies, female millionaires, millionaires from
poor backgrounds and multi-millionaires.
The
survey was commissioned by Optomen TV, an independent TV production
company who produced Mind of a Millionaire for BBC TWO. Previous
Optomen commissions for the BBC include The Naked Chef (BBC TWO).
There
is a book to accompany the series. Think Yourself Rich, written
by Sharon Maxwell Magnus, is published by Vermillion at £9.99.
All the
BBC's digital services are now available on Freeview,
the new free-to-view digital terrestrial television service, as well
as on satellite and cable.
Freeview
offers the BBC's eight television channels, interactive services
from BBCi, as well as 11 national BBC radio networks.
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