Deniece Pearson shot to fame as the lead singer of Five Star in the 1980s, writes York Membery.
The five-piece from Essex was made up of siblings dubbed ‘The British Jackson 5’. They had hits including System Addict and Rain Or Shine, and their album Silk & Steel went four-times platinum.
The pop sensations sold 15 million records and were the first black group to win a Brit Award.
Deniece, a 57-year-old divorced mother of two, has appeared on the West End stage and regularly performs at ’80s pop revival shows. She lives with her mother in Berkshire.
What did your parents teach you about money?
I was one of five children and grew up in a three-bedroom house in Romford, Essex, with my Jamaican-born mother Delores and father, Buster. But after renovations, my siblings and I had our own bedrooms.
Yes, money was tight sometimes and we’d occasionally have beans on toast for dinner, but we always had enough for hot chocolate at bedtime.
Mummy, who had two jobs, working as a nurse and a cleaner, and Daddy, who lived to 71 and was a session musician before managing Five Star, always believed if we worked hard we’d achieve our dreams.
Star quality: Since Five Star, Deniece has appeared on the West End stage and regularly performs at ’80s pop revival shows
Have you ever struggled to make ends meet?
My life certainly changed after Five Star’s glory years came to an end in around 1990.
I moved to the US in the early 1990s and married my auto bodyshop-owner husband, the father of my two children. After we got married we went to Denny’s, the fast-food chain, for a meal on our honeymoon, because we were watching the pennies.
The biggest setback our family has faced was the death last year of my brother Stedman, 60 – an integral part of Five Star back in the day – from diabetes complications. But I believe he’s still with us in spirit.
Have you ever been paid silly money?
As a group, we played some very lucrative private gigs during Five Star’s 1980s heyday.
Our biggest money-spinner was getting £85,000 to perform at a wedding in the UK.
It was an amazing period for the band. When you have all the money in the world, everybody wants to give you free stuff, so we were given lovely outfits and jewellery.
As a solo star, I can still make a five-figure sum from a live show.
What was the best year of your financial life?
Probably 1986 when we had seven top-20 hits and released our biggest-selling album, Silk & Steel. That was the year we all moved from Romford to our beautiful seven-bedroom mansion in Sunningdale, complete with tennis courts, Jacuzzis and a make-up room. We installed a £2.5 million recording studio and bought a fleet of cars, including a Rolls-Royce, Ferrari and Mercedes.
Hitting the big time: Deniece got a Lamborghini Countach when she was 19
Priciest thing bought for fun?
The most expensive thing I had bought for me was a Lamborghini Countach, at more than £100,000, which Daddy got me when I was 19, after Five Star hit the big time.
I had to pass my test before I could drive it, and I made the Guinness Book of Records as the youngest person to own a Lamborghini. Daddy also got me a £19,000 gold Cartier Panthere watch.
What was your biggest money mistake?
Selling our mansion in 1990 and our fleet of cars, because we couldn’t afford that lifestyle any more, was a sad day, but things change.
Was buying the mansion a mistake? I don’t think so – it was an incredible chapter in our lives. I’m not one for regrets.
My biggest personal money mistake was buying a used Range Rover for £13,000. The steering went, then I discovered loads of rust, so I got rid of it. Now I drive a little black Smart car, bought on eBay for £3,000. It has never let me down and is so economical.
Family ties: Deniece and her brothers and sisters were dubbed ‘The British Jackson 5’
Best money decision you have made?
Investing the money I’ve made from live performances in my solo career, recording my new solo album and raising my social media profile.
I’m a bit of a homebody now but can still spend up to £2,000 a month online on outfits, make-up and hair extensions. My favourite outfit right now is a metal dress, usually costing £1,000, which I picked up for half that price.
Will you pass your money down or spend it all?
Both my children are doing well and financially standing on their own feet. But my son is getting married this year so I naturally want to help out money-wise.
Most parents want to help their kids out, but at the same time I want to support causes close to my heart, such as Great Ormond Street Hospital.
Do you have a pension?
No, my song royalties are my pension. One of the post-Five Star songs I co-wrote, Strike, appeared in the 2006 teen fantasy film Aquamarine’s soundtrack. I plan to keep performing live as long as I can. I still get a real buzz from being on stage.
Do you own any property?
I’m currently living with my mother in Berkshire – Sted’s death hit her very hard so I’ve been keeping her company.
If you were Chancellor what would you do?
I’d do all I could to support Britain’s music business, try to eliminate homelessness and support the NHS. Spending a few years in the US really made me appreciate our health service.
What is your number one financial priority?
To keep working and supporting my mother and family. I just want stability because we moved around so much.
- Deniece’s album, Free Queen See, is out now. She performs at The Pheasantry, Chelsea, May 2. Instagram: msdeniecepearson
