In our How I Manage My Money series, we aim to find out how people are spending, saving and investing money to meet their costs and achieve their goals. This week, in our celebrity edition, we speak to former Love Island star Liberty Poole, who talks about growing up with a single mother, signing six-figure brand deals after appearing on the ITV dating show and why buying her first home at 25 was the best investment she has ever made.
What was money like growing up for you?
My mum was a single parent, and from a very young age, I watched her work three jobs at a time. We didn’t get much help from my dad when I was younger, so I think it was instilled in me quite early that, as a woman, I make my own money, I provide my own lifestyle, and I don’t rely on anyone else for that.
What was your first job?
I worked at Nando’s for about five years while I was at college and university. Then, during Covid, when I was furloughed, I took another job doing Covid testing for the NHS.
I’ve always made sure I had my own money coming in.
When I was younger, though, I wasn’t exactly sensible with it. Most of my spare money went on hair extensions and hair appointments. My priorities have definitely changed since then.
Did you ever imagine Love Island would change your finances so dramatically?
Not at all. People say they went into Love Island with a strategic plan, but I genuinely didn’t. I’d never had any connection to the industry before.
I had no idea what people thought of me while I was in there. When I came out, suddenly there were all these opportunities and figures being put in front of me that I’d never seen before.
I’d gone from working at Nando’s and coming from a council estate to being offered deals worth five figures and sometimes even six figures. At 21, I was basically signing whatever was put in front of me.
What were those first few months after Love Island like?
Honestly, they were crazy. I came out and went straight into Dancing on Ice. At one point, I was posting five adverts a week on Instagram.
People think influencing is easy money, but I didn’t have a break for months. I was exhausted and constantly working.
There was absolutely no chance I was going back to university to finish my marketing degree at that point because my life had completely changed overnight.
How much do reality TV shows actually pay?
The show helps cover things like your bills and financial commitments while you’re away, but you’re not suddenly coming out with loads of money from being in the villa.
The real financial opportunities come afterwards.
When I returned for Love Island: All Stars, it was different. We were paid around £2,000 a week.
I spent two weeks in the villa and two weeks in holding before going in, so I was paid for four weeks in total, which worked out at around £8,000.
What about Dancing on Ice?
Dancing on Ice worked differently because it’s a lump-sum payment rather than being linked to how long you stay in the competition. You know what you’re getting from the start.
I actually got offered another television show around the same time that would have paid roughly three times more than Dancing on Ice. But it was a programme my mum and I watched together growing up, so I chose that instead.
Financially, it probably wasn’t the smartest decision, but it was something I’d always wanted to do.
What did you spend the money on?
I don’t think I appreciated the value of money properly when I first came out of Love Island.
I was getting first-class trains to London, going on six to 10 holidays a year and generally not thinking very far ahead.
At the time, it felt normal because everyone around me was doing the same thing.
What was your biggest splurge?
I remember being in Dubai and buying two designer handbags in one day. One was Prada and one was Louis Vuitton. I think I spent around £10,000 altogether.
I’d never bought a designer handbag before in my life.
The funny thing is that I still use one of them all the time, but the other sat in my wardrobe for years.
I haven’t bought another designer handbag since.
What has been your best investment?
Definitely my house. I bought it when I was 25 and it’s entirely in my own name.
Being financially independent was always important to me because of how I was raised, so buying my own home was a huge moment.
Has buying a house changed the way you think about money?
Completely. Before I bought my house, I thought I understood money because I’d earned it. Then I went through the mortgage process and realised how much I didn’t know.
It made me realise how important it is to understand finances properly rather than just earning money and hoping for the best.
You also launched your own business – what has that been like?
I had a choice between buying another property or investing in a business.
A second property probably would have been the safer option, but I decided to launch my swimwear brand instead. It’s called Uplifted Label and it’s designed for women with larger busts who still want fashionable, supportive swimwear.
Property felt like the lower-risk option, but I believe in the business, and I think the long-term rewards could be much greater.
I’ve now launched two collections and everything I’ve made so far has gone straight back into growing the business. No risk, no reward.
What’s your biggest money regret?
Takeaways. I spent an unbelievable amount on food deliveries.
When I first came out of Love Island, I was nervous about going out on my own because I’d had some unpleasant experiences with people recognising me.
I also hated cooking and cleaning up afterwards. So, I’d order Nando’s, Deliveroo and takeaways constantly.
Looking back, it was a complete waste of money. Now I do a weekly food shop and I’m much more conscious about what I’m spending.
How do you manage your money today?
I have a business account and a personal account.
I pay myself a wage from the business and make sure it’s enough to cover my mortgage, bills and monthly spending.
Half of it goes towards my fixed costs and the rest is what I have available to spend each month. I also put money aside for tax and VAT because when you’re self-employed, nobody does that for you.
Are you investing for the future?
I haven’t started investing in stocks and shares yet because I want to properly understand what I’m doing first.
Nobody teaches you these things. You leave school knowing Pythagoras’ theorem, but not how mortgages, pensions, tax or investing work.
Do you have a pension?
Not yet, although I know I need to.
What does money mean to you now?
Freedom. That’s what money gives you.
It gives you freedom to travel, freedom to buy things you need and freedom to make choices. But I don’t think it’s the root of happiness.
The happiest moments in my life are spending time with family and friends, being in nature or helping somebody else.
I’ve learnt that you can have money and opportunities and still need to work on yourself and your happiness.
If you could go back and give your younger self one piece of money advice, what would it be?
Start investing straight away. As soon as you start earning good money, think about how you’re going to make it work for you long term.
I’d tell myself to save for a house earlier, think about investments earlier and be more selective about the deals I accepted.
When you’re young and suddenly earning lots of money, you think it’s going to last forever. The reality is you need to start building for the future from day one.
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