Spend whatever you have wisely

PITY THE POOR SOCCER STARS, a BBC production that aired recently reminded me of an old proverb along the lines of being better off poor than having lots of money for a certain period only to lose it all along the way and slipping back to your old broke life. Imagine switching from not wanting for anything to pinching pennies once more! That would be tough. Footballers do indeed make lots of money but not many of them invest wisely. When you earn $10,000 or more a week, you’re not going to worry about tomorrow. You’re on top of your game and drinking, flashy cars and long cruises become the norm. Of course players here in Africa make a lot less than that but still, they earn a decent wage. Add sponsorship deals and life can be really good. Only problem is that like with any other job, your future is not certain. An injury, new manager, club owner or the club’s poor performance may affect your pay not just in the short-term but your future too. Fabrice Muamba didn’t see that cardiac arrest coming, did he? I’m sure his finances are in order but I couldn’t help wondering what he’d have done if he’d squandered his fortune. He’s only 25 and must have assumed he’d play well into his 30s as most of his mates do. With a young child and wife to support, where would he even start when all he has ever done is play football? Good thing is that many of these stars have sound advisers and if what I’ve read is true, some of them have made smart decisions and indeed invested wisely in Real Estate, restaurants, the fashion industry and other rewarding projects. I’d hate to see Yaya Touré or Didier Drogba living on handouts should their playing careers come to an end for whatever reason. One of my uncles had a terrible experience a few years back and to this day, has never recovered. Years of hard work had paid off when he landed the deal of his life, giving the rest of us of hope that someday, we would have our own rags to riches tales. Money gives you wings like they say and soon, my uncle got himself a beautiful young thing, married her and gave her access to his accounts. The typical African man he is, he didn’t ‘forget’ his relatives and friends. It’s not like they’d let him ‘eat’ alone anyway and so he became the major financier for weddings, school fees, rent and anything in-between. Then one day, the Indian businessmen he had been working with decided to invest their money elsewhere and soon after that, his business collapsed. My uncle’s case was especially unfortunate because as we later found out, his wife was only after his money. She cleaned their Savings Account and flew off to God knows where, leaving him with their two young children. He had to sell the house to keep the children in school. Only a handful of the many relatives and friends he once helped have been supportive and that makes his situation all the more painful. I learnt something from his adversity. Spend whatever you have wisely. Yes, it’s good to give relatives and friends a helping hand and yes it’s good to spend your money on the things you like. But it’s a lot better to spend it on things that will make you more money so that you never have to go from having so much to nothing at all.To be continued…