Gregg Wallace has claimed that he is now happier since he stopped earning 'loads of money', including his £400,000-a-year MasterChef salary, following his departure from the BBC. The former television presenter, 61, was dismissed by the broadcaster last July after an investigation into 83 historical allegations of workplace misconduct, with 45 accusations against him subsequently upheld. He later sued the BBC and BBC Studios Distribution Limited for up to £10,000 in damages over allegations they failed to disclose his personal data, which caused him 'distress and harassment', before dropping his claim in February.
Wallace, who revealed last week that he was finally breaking even, took to social media to share insight into his financial woes and claimed that earning less resulted in less stress. He said: 'I used to earn a load of money, right? And then overnight, it stopped. So let me tell you what I've learned from this experience. Security is hugely important, but you don't need millions in order to feel secure.'
'The moment we broke even was a brilliant moment and it brought real calmness and it taught me something. Looking back, earning more and more to cover bigger and bigger bills isn't worth it.' He went on: 'That is just stress. I don't think now happiness can be found in earning more, but it can be found in not needing more. That is calmness. Happiness for me is companionship and simple pleasures anyway. Think about that.'
Last week, Wallace told followers that he and his family are now financially stable, explaining: 'For the first time in ages I'm not so scared about money and that's because we're breaking even, we don't have to dip into our savings which is nice. I'll tell you how we've done it, we've worked really hard at lowering expenditure and we budget for absolutely everything and then we have a small celebration if we come under budget.'
Explaining how he is now earning a living following the end of his television career, he continued: 'I've got an income now. I coach people on healthy lifestyle and, although people take the mickey, Cameo has also been really good for us. So we're breaking even and we're looking forward to simple family holidays.' He added: 'My advice to anybody here is don't upset yourself or bother yourself with trying to achieve things that you can't afford. Work hard on creating a lifestyle that you'll enjoy and that you can afford.'
The update comes after Wallace revealed he is moving to Italy after being forced to sell his 'enormous' £1 million Kent mansion following his BBC axing. The former broadcaster took to Instagram last month to confirm his 'new chapter' as he prepares to quit the United Kingdom in order to travel Italy with his family. Wallace further announced his plan to homeschool his young son, who is autistic and non-verbal.
However, Wallace's Italian adventure is not the only home he is purchasing, as he revealed he is planning to buy a 'much more modest' house in Yorkshire, close to where his daughter lives. Speaking in a new social media video, he said: 'We are decluttering the house and we are going to put it on the market. We plan to buy a much more modest house in Yorkshire where my daughter lives and then spend five months of each year in Italy. My wife is Italian. I've always loved Italy and we plan to move around and rent in different places which is quite an adventure and with the help of my autism specialist mates, I am going to homeschool Sid as well. It is a new chapter for us. It is a life that should be full of travel and adventure and I'm very very much looking forward to it.'
Wallace previously revealed that he is selling his £1 million Kent home after being left 'unable to live the life he used to have'. The ex-BBC star plans to sell the 'enormous' home, which sits on five acres of land along with its stables and pond. Wallace, who bought the home back in 2017, said he was making the move not only for a slower pace of life but also to ensure financial security for his family. He said: 'I can't have the life I used to have but whether you chose to believe it or not, I really wanted to come out of that anyway, but obviously not in the dramatic way that I did. I want to ease off a little bit, I want to relax a little bit. But that also comes with wanting financial security for me and my family because I've got a wife that is much younger than me and a special needs little boy, Sid.'
He went on: 'I want to relax a bit but I also want to make sure I can have a certain lifestyle and that I leave a legacy for my family. That's not easy to do. So my plan is to sell this enormous house and buy a more modest house. I'll work less and possibly spend half of the year in Italy making adventures for my family because we love Italy.'
