Spendaholic Churchill saved by World War II

‘The confession was a startling one, in light of the great man he became. ‘The only thing that worries me in life is — money,’ wrote Winston Churchill, then aged 23, to his brother, Jack. ‘Extravagant tastes, an expensive style of living, small and diminished resources — these are fertile sources of trouble.’

Indeed they were. For the qualities that were to make Churchill a great war leader came very close to destroying him time and again during his career, as manic optimism and risk-taking plunged him repeatedly into colossal debt.

In the Thirties, when he was a married man with four dependent children and already borrowing more than £2.5 million in today’s money, he would gamble so heavily on his annual holiday in the South of France that he threw away the equivalent of on average £40,000 every year.’

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