Cape Town – South African Rugby legend, Bryan Habana, recently opened up about his financial woes after retiring from being a professional rugby player, saying that he would have made better financial decisions if he had a better understanding of money as a player.
The former Springbok winger was speaking to Sunday World, and highlighted how his lack of financial understanding while earning big wages as a player affected him negatively after retirement.
“So, I didn’t understand the whole financial jargon of short- and long-term savings. I mean, who does when you are 18, 19, 21 years old? And I got thrust into this money, earning as much as R100 000 a year.
“Back then in 2004, it was a lot of money for a 21-year-old. As players, we didn’t really have expenses, didn’t have a house, and a petrol of less than R300-R400 a month was what kept me going,” Habana was quoted as saying.
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He said that understanding money in his early days as a player would not have caused him to end up in the position he did.
“If I had started understanding my money a bit better at a younger age, I would have made massive beneficial financial decisions and would not have put myself in a tough financial situation I would regret,” he said.
Habana gave advice to younger players who are beginning their careers in sports.
“It is important to ask, engage and consult, read about investments and its pitfalls, but must of all, ask questions, educate yourself and the advice does not have to only come from the professionals, but also from the ordinary folk – your friends and family,” he said.
According to bryanhabana.com, since retiring in 2018, Bryan has been fulfilling various ambassadorial and punditry roles as well as doing talks around the world.
“His philanthropic drive and desire to continue giving back is burning as bright as ever and he is looking to use the Bryan Habana Foundation in several different ways to do this,” says the website.
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Compiled by Junaid Benjamin
