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The Doghouse: Rory Cowlam has invested in a new build home and has a pension and an ISA
Veterinarian and broadcaster Rory Cowlam is sometimes so surprised by the huge allowances he’s being offered that he pinches himself and checks that he hasn’t misjudged the amount.
Better known as CBBC’s Rory the Vet, the star of The Pets Factor tells Donna Ferguson that he can charge fees of up to £5,000 a day from brands that want him to promote their products.
The 30-year-old, who became Blue Peter’s resident vet in 2019, invests in a pension, the stock market and a property and regularly gives to charities including Street Vets, the RSPCA and the British Dyslexia Association. He is currently taking seven months off to travel the world with his fiancee. His autobiography, The Secret Life Of A Vet, is out now.
What did your parents teach you about money?
They taught me about the importance of good financial decisions and habits. My father hammered home the importance of a pension, while one of my mother’s favorite sayings was ‘Take care of the pennies and the pounds will take care of themselves’.
When she died, we cleared out her flat and found all those pennies she had saved everywhere. My father was a businessman for Diageo and my mother worked in marketing. There were times when money was tight. But in my teenage years, my father got a better paying job. After that, I was lucky enough to have things like a year’s vacation and learn how to ski.
Have you ever had trouble making ends meet?
No, I was incredibly lucky. I always knew I wanted to study veterinary medicine and I was lucky enough to study for it. Yes, as a student I had to eat canned beans very often and pay £9,000 a year in school fees. But I don’t see that as a struggle. Since then I have always been paid correctly and very happy.
How did you get your job at The Pets Factor?
I started posting on social media when I was in college and gained a modest following. Then, shortly after getting my first job as a vet, I was approached to go on the show. I did eight seasons and from there I got into all sorts of TV and radio shows.
Have you ever been paid stupid money?
Yes, totally, for promotional work for brands. The most I ever made was £5,000 for one day of filming and creating content for a company. I wish those days would come more often, as everyone would.
But I’m also trying not to lose sight of the fact that only a small percentage of the people on this planet get that kind of money to do ridiculous things on camera, and it’s probably only going to last for a very short time for me. I know I’m very lucky.
The most expensive thing you bought for fun?
My wedding suit from tailor Montague Ede. I’ve chosen tops and tails, and it’s going to cost many thousands of pounds. The highest amount I’ve ever spent on a suit to date is £300. But I’m quite into fashion and I appreciate good workmanship. Plus, I live in scrubs—which aren’t very flattering pajamas—on the job, getting covered in all sorts of bodily fluids. It will be special to dress up.
What’s your biggest money mistake?
I got into credit card debt when I was 19, splurging on things I shouldn’t have done. I owed about £2,500 and had to work my way out of it. It was a very steep learning curve.
The best money decision you’ve made?
Hire my manager. Without him I wouldn’t get most of the work I do. When he brings me work, I sometimes have “pinch me” moments where I try to wipe the screen clean, just in case I misread the allowance.
I am a scammer. In reality, I am a veterinarian. I am not a media personality. This is such a weird life I’ve led, and I love it, but I don’t value myself financially the way my manager does. It is impossible for me to value myself correctly.
Do you own real estate?
Yes. In 2017 my sister and I bought a small new build home in Streatham Hill, South London for £620,000. It’s probably worth £650,000 now. I planned to live there, but then moved in with my fiancee. Now I see it as a nest egg for the future.
At work: Rory on CBBC’s The Pets Factor
Are you saving for a pension?
I do. I started when I got my first job at the age of 22. It gives me peace. Who knows what the state pension will be when I retire in 30 or 40 years – probably £3 a week? If you walk away a little here and there, you won’t notice it, but it can add up quite a bit.
Do you invest directly on the stock market?
I do. I invest through an ISA, because that is tax-efficient. I usually invest in eco-friendly stocks.
What’s the one luxury you treat yourself to?
To ski. I try to get out every year if I can, and it’s not cheap. I also eat out about once a month at a nice restaurant in London. I spend anywhere up to £300 per person.
Do you donate money to charity?
Yes. I choose three charities a year and I give them a monthly donation. This year I chose Street Vets, RSPCA and a charity for deaf and blind children.
I also give my time. I am an ambassador for the RSPCA, Street Vets and the British Dyslexia Association.
I also work closely with Dogs Trust and Dogs For Autism and Battersea Dogs & Cats Home.
If you were Chancellor, what would you do?
I would make donations to charities more tax-efficient for people and companies. I would also increase government funding for charities, especially animal welfare organizations, which are going through a serious crisis this winter.
Many pet owners worry about paying their bills, which is why they don’t take their pet to the vet.
Charities such as the RSPCA, the Dogs’ Trust and PDSA, the veterinary charity, are doing their best, but they need as much help as possible.
What is your first financial priority?
To not have to think about money or worry. If I can do that and take care of my family, I’ll be happy.
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