The comedian famously was made bankrupt in 2006 after a dip in his career and bills from his various divorces.
However, six years on, he still hasn’t managed to keep his accounts in check.
Speaking to the Telegraph, the 62-year-old said: “I’ve never saved anything. I haven’t got any money now. None. And apart from my Range Rover, which has done 48,000 miles in eight months, I’ve got no assets at all. No property.
“I live in the house that my wife owns. If I cleared out all my bank accounts I’d have maybe £20,000.”
This is quite a fall from the man who netted £50,000 for every episode of The Generation Game and £18,000 for Big Break.
Jim said that losing his gigs at the BBC – which paid him £1 million a year – resulted in his eventual bankruptcy, but admitted that his spending habits were out of control.
The former CBB champ said: “I went a bit mad on cars and boats. I had a Bentley then an Aston Martin. My first boat was a speedboat, the second one was a 31ft Sunseeker, which cost £40,000, then, when I’d split up with wife number three in 1989, I bought a Princess 55 for £225,000, which actually ended up costing me £8m.”
Jim now heads up the Care After Combat charity
The boat “costed him £8m” as he explains after he bought the boat, he went to celebrate at a pub where he met his fourth wife, the split from whom cost Jim £8m through maintenance, housing and school fees for their three children.
Now, Davidson – who is married to fifth wife Michelle Cotton – runs the veteran charity Care After Combat.
While he has stopped taking a £43,000 salary after being accused of taking money from the charity, Jim admits that he has cut back on the stand-up gigs which have been earning him £400,000 a year.