Famous chocolatier Paul A Young struggles to make ends meet and miss the Bitcoin pot

Sweet success: Paul A Young has won important awards for his chocolates

Sweet success: Paul A Young has won important awards for his chocolates

Sweet success: Paul A Young has won important awards for his chocolates

Famous chocolatier Paul A Young can not charge high fees for his innovative work and award-winning chocolates because there are no Michelin stars for chocolatiers.

The British businessman, who was raised by a single mother in benefits, owns a chain of chocolate shops and appears regularly in television cooking shows. But despite his success, Paul, 45, is still waiting for that big paycheck that will change his life.

His secret passion, when he is not inventing new recipes of delicious chocolates, is designer footwear.

The main financial lament of Paul is losing the boat in Bitcoin when he had the opportunity.

His book Adventures With Chocolate won a top prize at the Gourmand Cookbook Awards in Paris and in 2014 he was named outstanding British chocolatier at the International Chocolate Awards.

He lives in Walthamstow, East London, with his dachshund Billy.

What did your parents teach you about money?

How to budget My parents divorced when I was 18 months old, so I grew up alone with my mother and my brother, and we did not have much money. The divorce was hard for my mother.

Although he had some part-time jobs, he survived mainly the benefits. As a result, Mom had to allocate each penny carefully.

I'm sure he fell short with food and clothing to make sure we were served and had our school uniforms and our sports kits. Then, when I started earning my own money, I knew how to budget even though I was not frugal like her. In fact, I was a bit frivolous at times. A part of me thought: you only live once, I could treat myself too.

I remember that at one point I reached my last 50p and I had to call my mother to ask her to send me a five-note bill in the publication.

The British businessman owns a chain of stores of fine chocolate

The British businessman owns a chain of stores of fine chocolate

The British businessman owns a chain of stores of fine chocolate

What was the first paid job you ever did?

At the age of 15 I worked in a restaurant washing pots, preparing vegetables and making meals at the bar for £ 1.40 per hour. I worked two nights a week and on weekends while studying full time to be a chef at the University of York.

Have you ever had problems getting to the end of the month?

Yes. The worst time was probably 1995. I had just bought my first house, a one bedroom house in Leeds, and had a mortgage to pay with a very low salary. I remember having to count every penny. It was stressful

Have you ever paid stupid money for an hour for a job?

No. I have never been paid a ridiculous amount of money that changes my life. That does not mean that they have not paid me well over the years. But I had to do three or four jobs at a time to earn that money. I think it does not happen often in the chocolate industry. There are no Michelin stars for chocolate.

What was the best year of your life, in terms of the money you earned?

It was 2004, a year before I opened my first store in Islington, in London. I was teaching and doing consulting work six or seven days a week, so I could save to open my first store. I worked so hard to earn the money to do that.

What is the most expensive thing you have ever bought just for fun?

A BMW Z4 for £ 24,000. I bought it in 2005 as a reward for all my hard work.

Reward: Paul bought a BMW sports car for £ 24,000

Reward: Paul bought a BMW sports car for £ 24,000

Reward: Paul bought a BMW sports car for £ 24,000

What is the biggest monetary error you have committed?

I wish I had invested in Bitcoin years ago. When the people who had invested only a few dollars became millionaires, I thought: Oh, for God's sake. I wish I had just put ten percent.

What was your best money decision?

Configuring my business It has been the best investment of my life, and it allowed people to eat a lot of good chocolate. It is not a pot of money. We have gone through recessions and now with Brexit there are many unknowns. But professionally it has been fantastic for me and now I employ 30 people.

Do you save in a pension or invest in the stock market?

I do not invest in the stock market and I only started saving on my work-based pension a couple of years ago, when we had to establish an automatic enrollment plan. Now I am in the middle of my 40 years hoping that my business will support me in my retirement.

Are you a property owner?

My two-room house in Walthamstow that cost £ 395,000. I bought it as an investment with my business partner. I've been here for two years and I'm sure it has increased since then. We renewed it because it was falling.

The book by Paul Adventures With Chocolate won a grand prize at the Gourmand Cookbook Awards

The book by Paul Adventures With Chocolate won a grand prize at the Gourmand Cookbook Awards

The book by Paul Adventures With Chocolate won a grand prize at the Gourmand Cookbook Awards

Do you pay your credit cards in full?

I try to pay the full balance, but if I can not move it to a zero balance transfer card and pay it off quickly. In my youth, I fell into the trap of not doing that and quickly got into a hole.

How much cash do you have?

Usually, nothing. Contactless payments are so easy. I prefer to pay with a coffee card or small items instead of having to carry a loose change.

What little luxury do you like to give yourself?

I love shoes, especially designer shoes from Oliver Sweeney, Jeffrey West and Kappa. I have approximately 12 pairs in total. Each pair costs between £ 125 and £ 250. I feel great when I use them and they last for years.

I keep them until the soles wear out.

If I were Chancellor of the Treasury, what would I do first?

Increase funding for support services for older people. I think we have to do much more to take care of our aging population. We need to make sure they are not alone and that there are funds for nurses and caregivers.

I would also like to increase funding for disadvantaged children who are not academics so they can continue learning, skilled work and creative careers.

I was one of those children. I was lucky to have family around me that would stimulate my creativity, not all disadvantaged children have that.

Do you think it is important to give to charity?

Yes. I give money to four charities and I spend time each week to help. I wrote a book of chocolate recipes for Children's Air Ambulance and donated all the royalties and fees of that book to the charity.

I am also vice president of Sick Children's Trust and the charities of my company are The Terrence Higgins Trust and Action Against Hunger. We do many fundraising events to help them.

What is your number one financial priority?

To be comfortably and able to pay my bills and treat my mother whenever I want.

My mother must have worried every day when she was growing up trying to make her money stretch.

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