I’m a frugal millionaire and never go on holiday – I heat home by burning recycled pallets & wee in garden to save water
A WEALTHY businessman keeps his millions by being frugal and never going on holiday.
Commercial landlord Marcus White, 51, makes £145k-a-year in rental income and owns assets in excess of £2million.
Despite living mortgage and loan-free in a farmhouse in Dorchester, Dorset, he lives off just £200-a-week
Admitting he regularly worries about money, Marcus even wees in his garden to save water on toilet flushing and heats his home by burning pallets.
Even though he now owns a business park and runs a life-coaching company, Marcus still lives by the standards he did in his 20s when he was earning just £1.90 a day.
Ignoring his £200k bank balance, Marcus shares a van with his partner, Rosie Morrell, and has an £8-a-month phone contract.
He also grows a lot of his own fruit and veg, and goes fishing for his dinner.
Marcus said: “Although people might think I’m in a strong financial position, I do still worry about money.
“I’m the complete opposite to a consumerist – I don’t like consumerism at all.
“I don’t like to waste anything, I have an instinct to just save as much money as I can, and I really struggle to spend – I only buy things I really need.
“I’m very happy living off the bare minimum – on a monthly basis I spend money on food, bills, my phone contract is £8-a-month and I have a van I share with my partner.
“I’ve got a real recycling, upcycling, saving mentality.”
Two years after he graduated from Oxford University with a physics degree in the 90s, Marcus decided to set up his own furniture business.
At the age of 24, he moved back into his family farm home and converted a building into a workshop where he was only able to turn around about £5k per year.
The dad-of-two added: “Woodworking was a passion of mine and I decided to turn that passion into a business.
“It was very difficult to make money – I started the business in 1997 and in the first year, I made about £4k which works out at £1.90 a day.
“I was working long hours and dealing with the stress of starting my own company – the first few years were a real struggle.
“At my peak, I earned about £5k in a year.”
But after a couple of years, he ditched the furniture industry and looked at other options.
His dad was then forced to sell the farm – only keeping a small section of land which Marcus ended up bagging planning permission for.
Once the derelict buildings that were left could be demolished, Marcus started building his business park which now rakes in the cash.
He said: “I’m now in a financially comfortable position but I still save every penny and live very frugally and I do regularly worry about money.
“The maximum amount I’d say I spend in a month is £1k.
“I think, especially being brought up on a farm, I don’t like to waste anything and have an instinct to save and upcycle.
“I’ve got a vacuum cleaner that’s about 15 years old now and I’ve repaired it multiple times instead of buying a new one.
“I do all sorts of wacky repairs to keep things going. I recycle screws from scrap timber and stock them. I heat my house by cutting up pallets.”