Former Bafana Bafana and Mamelodi Sundowns dribbling wizard Teko Modise has learnt the hard way when it comes to spending his hard-earned money.
While still playing in the colours of Orlando Pirates, Modise, who is the ambassador for the Nedbank Cup, had a total of four cars and was spending about R50 000 on designer sneakers.
He was also spending about R22 000 a month on a snazzy Aston Martin sports car.
After leaving the Soweto giants for big-payers Sundowns, money kept on rolling in. It never crossed his mind that one day he would have to downgrade and change his lifestyle after making terrible choices.
Part of his task as Nedbank ambassador is to educate and coach young players on how to spend money wisely, and to invest for the days when they have retired or can never play anymore.
This “lifestyle audit” prepared him for life after football, where the endorsement deals, as lucrative as they sound, are nowhere near the money he made at his peak.
“I downgraded my lifestyle, and by that I mean I scaled down on what I was spending,” Modise explains.
“I got a smaller apartment, I sold three of the four cars I had and instead of blowing R50 000 on sneakers, I would just get one pair.
“But people started whispering that I no longer had the money, and as a result I had just one friend left.”
He explained further: “That’s why I was able to adjust to moving to Cape Town City. What I earned there compared to my salary at Mamelodi Sundowns was chalk and cheese.
“I was one of the highest earners at Sundowns and with bonuses, I could still survive when I joined a new club. I learnt the hard way.”
Now a businessman and football pundit, Modise recently launched his own talent agency and is better equipped to give financial guidance to emerging footballers.
In collaboration with Nedbank, he uses the Nedbank Cup as a platform to share his story on how the choices one makes can have a long-term impact in life.
“In football, we don’t talk about coping with depression. I went and bought a car because I was depressed. I felt the need to be loved and accepted,” he shared.
“A wiser me wouldn’t go and buy material things to make myself feel good. That was a bad decision. I thought the financial flexibility I had would fill the void – it was about trying to belong.
“I had no business buying a car that cost me R22 000 a month. But the best education is experience. What I had done taught me a lot about finances in general.”
Cape Town City was to be the last club he played for as a professional footballer, so when he eventually retired, Modise was more than equipped to avoid repeating his past mistakes.
“I made a decision a few years ago that I don’t have to be this superstar that wears branded clothing and drives a certain car because that’s what people expect of me.
“To be honest, that came with playing for City, that move humbled me. I realised I didn’t have to prove anything to anyone, and that’s when I began to make smarter choices. Of course, the temptation is there, but I am comfortable with myself now.”
