Former Bafana Bafana and Kaizer Chiefs icon Stanton ‘Stiga’ Fredericks has urged current crop of players not to spend money they don’t have if they are to live a comfortable life after football.
It goes without saying that South African football players lack financial education, with a host of them either having nothing to show for their hard-earned money during their playing days – or dying broke.
Fredericks was one of the Nedbank Cup ambassadors this season – to help raise financial awareness and has since urged players to not spend beyond their means.
“To current players, there are certain financial principles that you only learn once you’ve retired,” Fredericks said.
“If I were to advice the current players, don’t spend money you don’t have, and I think that’s the mistake most footballers make.
“They sign a professional contract and instantly assume that they will play for more than ten years, when you have only signed a two to three years contract. So, spend that money and you budget will speak to your current contract, which is a maximum of three years.”
The 44-year-old reminisced of his time when he was still earning the big bucks and said had he had known better, he would have lived according to the terms of his contracts.
“If I had that opportunity and had to start all over again with the knowledge that I have right now, I would live within the contract in that term.
“You cannot foresee that you will play in Europe or in the national and earn a lot of money,” he added.
Recently, renowned SA football star Teko Modise admitted to spending R22 000 a month on a flashy Aston Martin and about R50 000 on designer sneakers during his stint at Orlando Pirates and Mamelodi Sundowns.
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