It's hard work being 'lucky

Digby Jones, 46-year-old director-general of the CBI, feels extremely confident with money. He made his name handling corporate finance as a senior partner in legal firms Edge & Ellison and KPMG. He also enjoys the symbols of success - driving a Daimler Sovereign, living in a top London apartment and eating in the finer quality restaurants - but he insists it's not merely the result of luck.

"Everything I have I've worked for," he says. "I haven't won the lottery, I've earned it. When people look at me and say 'You lucky bastard' I think to myself, they wouldn't be so envious if I'd won the pools. But if you work incredibly hard to get it then, for some reason, that's not so acceptable."

He is clearly sensitive about this, though it's hard to see why he should be singled out for special treatment: he's not stinking rich. He owns a cottage in Worcestershire and a flat (with mortgage) in London. His pension is fully paid up but he's not sitting on any other investments. And when he joined the CBI he took a salary cut of half (from a reputed £250,000 per annum).

To match the income reduction he decided to sell his seven-bedroom Edwardian house in 2.5 acres of prime real estate just outside Birmingham. He had bought it in 1991 for £335,000 and sold it in 2000 for more than £700,000. He now lives in a London flat that cost around £500,000 last year.

Any income from speaking engagements either goes to the CBI or a Birmingham hospice. "I'm lucky - I love my job," he says. "I've got one of the best jobs in Britain."

His childhood was extremely happy, but his parents weren't flush. He was born over a grocer's shop near Longbridge and when his father later decided to change career to a probation officer it meant the family had to live on a grant. His mother went to work as an assistant physiotherapist, but the children had to cut back their holiday expectations.

Having won a scholarship, he was educated in a private school. He then persuaded the Navy to finance his law degree in return for agreeing to pursue a career at sea, though when he discovered how much he enjoyed work experience in a law firm they let him off, on condition that he pay them back.

On the subject of debt he is clear: "I've run an overdraft when I was a young lawyer and I've bought a car on HP, but I've never owed a credit card company anything. The rate of interest is extortionate and I've always thought it better to put up a good case to a bank to ask for a loan."

He's happy to admit that he enjoys the wealth that success brings. He loves travel, having visited Australia, the Far East, Canada and been on a safari in South Africa.

He says: "Money has certainly provided opportunities and opened my eyes. I wish people would travel more because it's one of the greatest providers of knowledge."

He treads carefully when describing how he shares financial responsibility with wife Pat, describing his role as "organisational". She runs her own bank account, which he puts money into every month. "We never argue about money," he says.

He has no children, but he doesn't envy friends who do. "No matter how valiantly they fight, they will never get their kids to understand the value of money," he says. "The current generation just expects it all on a plate."

The shoe shop that landed him on his feet

Mistakes Guaranteed a bank loan of £20,000 for a friend who then fell deeper into debt and couldn't repay. In the end Digby had to come up with the cash. "I'm not too sure money and chums mix well," he says.

Lottery If he won £1m he would give a bit of money to two or three people who he knows could do with it and it would really help. He'd upgrade his Worcestershire cottage to a slightly more expensive one and give about a third, or half, away to charities like cancer research.

Best buy In 1986, he bought a shoe shop for his wife. Instead of leasing they bought it freehold, and by carefully interpreting the signs of the times, managed to sell it just before the recession of 1991. Land values had gone through the roof and he had quadrupled his money in five years.

Worst buy In the Navy, aged 21, he bought a tape recorder from a street seller at a knock-down price. On returning to the ship he discovered the motor had been taken out.

"If things seem too good to be true, they usually are," he says.

Clothes He wears suits and shirts from Marks & Spencer.

Tipping He tips 10%-15% for good service but will not tip automatically.

· Digby Jones is an ambassador for Investors in People, the workforce development experts. For more information on getting the very best from your workforce visit www.investorsinpeople.co.uk