Playing 'nasty' Nick Cotton in the BBC1 drama EastEnders was financially rewarding… but John Altman hates being typecast as a 'soap star'. 

It is the role he is best known for with him playing the show's bad boy, making regular appearances from the soap's first episode in 1985 until his character's on-screen death in 2015, writes York Membery.

The 73-year-old actor, singer and songwriter also toured in Chicago and sang with the rock band Heavy Metal Kids. The divorced father of one now lives in Richmond Upon Thames in south-west London.

What did your parents teach you about money?

My father was a first-class clerk at the Bank of England and my mother was a housewife. My siblings and I had a normal middle-class upbringing, though we weren't rolling in it, at Hurst in Berkshire and later Herne Bay in Kent.

I was terrible at maths, so following in my father's footsteps was never really an option – but my mother's dad, Johnnie Schofield Jr, was an actor so acting was in the blood. Growing up, my parents encouraged me to put my money into a Post Office savings account – sound enough advice.

Have you ever struggled to make ends meet?

I ran out of money altogether while travelling in India, aged 18 – I couldn't even afford to stay at my Calcutta hostel. I walked the streets asking for money until a kind Indian gentleman gave me 30 rupees, which tided me over until I made a cash transfer from England.

Later on, as a young actor, I worked as a waiter, labourer and a cleaner between jobs – I even cleaned the entertainer Anita Harris's Kensington house at one point, to pay the rent on my London bedsit.

Have you ever been paid silly money?

I was paid 10 shillings on a Sunday morning to be a golf caddy in my teens while still at school – the same as I'd have got for a week-long newspaper round. Later, in my EastEnders – or 'DeadEnders', as my Dad called it because so many of the characters ended up dead or robbed – heyday, I'd get driven up to a nightclub in Manchester, Sheffield or wherever, and do my Nick Cotton stage turn.

I would insult the crowd, which they loved, pretend to strangle the DJ, sign some autographs in the VIP room afterwards, be driven home in a limo… and get paid handsomely, usually around a grand for a night's work.

What was the best year of your financial life?

Probably 2001 when, after a lengthy stint on EastEnders, I landed the part of Billy Flynn in the first national tour of Chicago, which lasted around two years.

Yes, it was well paid but you earn your money when you take a big show on the road. I've also done a lot of Christmas pantos, doing up to three performances a day. A good panto run can set you up financially for a few months.

The most expensive thing you have bought for fun?

A used black Mercedes-Benz C220 CDI for around £10,000. I bought it in the noughties after years spent driving Fords and Nissans. Driving the Merc was such a joy – it took the sting out of a long journey. It has more than 100,000 miles on the clock and is still going.

What is your biggest money mistake?

I didn't have a car when I started doing EastEnders in the mid-1980s, so Leslie Grantham, who played Dirty Den and lived near me in west London, used to give me a lift to the BBC studios at Elstree, Hertfordshire.

I ended up buying a used BMW from a friend of his for a few grand but it turned out to be a money pit. Everything that could go wrong did go wrong, and I spent a fortune getting it fixed. I suppose it was just bad luck.

Best money decision you have made?

Joining EastEnders, because it was so financially rewarding, and moreover, opened the door to me doing national theatrical tours like Chicago and more recently The Mousetrap.

On the other hand, it got me typecast as a 'soap star' – and even today some directors won't cast soap stars in their films, which is ridiculous. For better or worse, I think I'll always be Nick Cotton in some people's eyes – just the other day I got out of my car and a woman said to me: 'It's you, isn't it? Nick Cotton!'

Will you pass your money down or spend it all?

I know some wealthy people say they're going to give all their money to charity when they die, but if there's anything left in the pot at the end of my life, I'll pass it on to my daughter, now 39, and my granddaughter. However, I'll also leave money to a dementia charity because I lost my last partner, the actress Diana Marchment, to that dreadful disease.

Do you have a pension?

Yes, I have a small private pension but mainly rely on my state pension, though I still work.

Do you own any property?

Yes, a two-bedroom apartment, with en suite bathrooms, in Richmond Upon Thames which is close to the river and a couple of beautiful parks. I've almost paid off the mortgage. If I had not got divorced, it would be paid.

If you were Chancellor, what would you do?

I'd make it easier for young people to buy a home because it's so difficult to get on the housing ladder. I'd also clamp down on landlords charging extortionate rents.

What is your number one financial priority?

To pay off the mortgage and keep busy work wise.

• John's memoir, In The Nick Of Time is published by John Blake, and is also available on Audible. His debut album, 'Never Too Late to Rock and Roll', by Johnny Altman (his rock 'n' roll alter ego), is available on streaming platforms.