Former Wits University, Kaizer Chiefs and Orlando Pirates midfielder Stanton Fredericks, who has now ventured into the world of TV punditry has opened up on the financial pitfalls faced by footballers.
Pitfalls experienced by current players:
The little sacrifices that I made especially when it comes to money, turned out to be the big ones at the end of the day. And I think in everybody's space, if it forms part of your career, it falls into your financial space as well. Because if your finances aren't good, you aren't good. Like it or not. It's not all, but being financially stable is a necessity and we can all attest to that, whether you are a family man or a bachelor, we all make strides. Those decisions early in one's life. Yes. I have made mistakes along the way, nobody is perfect. I've made the wrong decisions many a time, but the right ones were to remain conservative and make the right financial decisions that would affect the performances on the field eventually. So the small mistakes are like having a vehicle, you can afford it, and now you want to buy another one. You are playing in Europe, there is no need for a vehicle in South Africa, but because when you come home and you feel the need to show that you have played in Europe and these are the decisions where you realize you don't need this. You are going to invest in a car that is R700,000 and it's going to depreciate.
Fortunately, I made those decisions with a sober mind. I never repeated the mistakes I did.
Planting the seeds for the next generation
I always tell them to respect money, and I have to be honest, I illuminate the fact that money is a necessity in all walks of life. It's not the main thing nor the only thing, but without money, a lot can go wrong. You want to enjoy your life and do nice things, so whatever you work towards understand that you need to respect money, because it can open up doors for you. I tell him, yes you are playing football, but you have to study. So he is studying and playing football, so whatever choice of career you decide [on] understand that it needs to be lucrative. There is also passion, because without it, nothing will be successful.
Advice for current players:
If I have the opportunity to speak to current players, there's certain financial principles that you only learn later on once you have retired and if I were to advise them on something – for any walk of life, it would be to not spend money you don't have. I think that is the mistake that footballers do. Because you sign a contract and you assume that you would play for more than 10 years. You only have a two to three year contract, so spend that money. Your budget must speak to your current contract which is a maximum of three years. If I had that opportunity to start over again with the knowledge that I have now, I would live within the contract term. If it is three years and I am earning a certain amount, my expenses should speak to the contract I currently have.
I cannot foresee that I will play in Europe, I will be in the national team and earn the Dollars and the Euros.
