Clare Mackintosh, 49, is a crime writer best known for her million-selling debut novel, I Let You Go, a Richard And Judy Book Club pick that was also Theakston’s Old Peculier Crime Novel of the Year in 2016, writes York Membery.
The police officer-turned-novelist has now sold more than three million books, which have been translated into at least 40 languages.
She lives with her husband and three children (including twins) aged 17 to 18 in North Wales.
What did your parents teach you about money?
I was one of three girls and had a comfortable upbringing in Buckinghamshire, though we weren’t wealthy.
My dad Andrew was a doctor, and my mum Colleen, now 83, looked after us.
She later retrained and became an adult education teacher.
The write stuff: Clare Mackintosh’s debut novel, I Let You Go, was the Theakston’s Old Peculier Crime Novel of the Year in 2016
They made us appreciate how lucky we were as a family to afford the nice things in life, however at the same time stressed that it was hard work that had bought such a lifestyle.
Sadly, Dad died at 68 – he had big retirement plans.
It made me recalibrate my life and – while I’m not a spendthrift – ever since then if I have wanted to do, or buy, something I’ve thought ‘Yes, do it!’ while I have the chance.
It was around then that I also left the police to pursue my dream of becoming a novelist.
Have you ever struggled to make ends meet?
I’ve never been in debt or had to use a foodbank, but when the children were small and my husband and I were both in the police, we had to watch the pennies and didn’t have money for holidays or extras.
When I left the force I was initially scratching around for freelance work – and even after I Let You Go went stratospheric, money was tight because the royalties arrive so slowly.
Have you ever been paid silly money?
I get paid silly money now, though I’m not going to complain about it, compared to how hard I worked in my 12 years in the police.
I still work hard – however these days I can work in my pyjamas at my laptop.
I was also once flown Emirates business class to appear at a Dubai literary festival, which was nice.
On the beat: The police officer-turned-novelist has now sold more than three million books, which have been translated into at least 40 languages
What was the best year of your financial life?
Probably the three or four years immediately after I Let You Go came out.
Ironically, I was only paid a £15,000 advance for my first two books – I Let You Go and I See You. But the first sold a million, and the follow-up around 500,000, so when the royalties eventually rolled in I found myself sitting quite pretty. It made it possible to move from a boxy four-bed to our gorgeous Georgian manor house in Snowdonia.
I’d also sold the television rights to both books – an ‘option’ fee can pay for a family car – and signed a more lucrative deal for my subsequent books.
The most expensive thing you bought for fun?
I buy a painting or a piece of art every time one of my books comes out.
They’re not always hugely expensive, but I did splurge £3,500 on a beautiful Neil Nelson seascape oil painting after I Let You Go was published.
It was a symbolic purchase but the painting still fills me with joy every time I see it, so it was money well spent.
What was your biggest money mistake?
We over-capitalised on the family home. We recently had it valued and the estate agent said there was ‘a ceiling’ to every house, based on its location, and that we were never going to get back the six-figure sum we’d spent renovating the property.
Having said that, I am very happy with the additions we have made – even if they could have been done cheaper.
Best money decision you have made?
Enrolling our three children in independent schools for their sixth-form to do their A-level studies – which is costing us £100,000 a year.
I went to a state school and had a great education, so I wrestled with my conscience.
However it’s made a huge difference to my children, particularly to the one with additional needs who was struggling at the previous school.
I would pay twice as much to see what it has given them in terms of confidence, academic input and just broadening their horizons. It has been worth every penny.
Having said that, I back the Government’s decision to put VAT on school fees.
Will you pass your money down or spend it all?
I’ll pass it down to my children – but at the same time I’ve emphasised the importance of them making their own money.
All three have part-time jobs: one in a chip shop, another as a lifeguard, the third as a voiceover artist.
Do you have a pension?
Yes, I pay as much into a private pension as I can afford. First, because you never know what’s around the corner health-wise.
Second, even though I don’t think I’ll ever stop writing entirely, I’d like to be able to slow down in a few years.
What property do you own?
The family home is half of a Georgian manor house, set in an acre of land in North Wales, which cost £325,000 in 2017 but is now worth £600,000.
I’ve also got a tiny flat the size of a cupboard in Cardiff, which cost £100,000 just after lockdown, where I go to write.
It was a terrible investment – the flat’s service charges are horrible – but I love it there.
If you were Chancellor what would you do?
After getting my log-in code and finding out where the loos were, I’d increase arts funding which provides a huge economic boost to this country. I’d also put more money into the NHS.
What is your number one financial priority?
My dream is to be mortgage-free at 60, and know that my children are financially secure.
I’d also like to be able to support the two charities closest to my heart, the Silver Star Maternity Fund and Meningitis Now.
- Her latest novel, Other People’s Houses, is out now in paperback (claremackintosh.com).
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