Six-time PSL title winner Daine Klate endorses financial fitness to meet life goals and shares his lessons on sound financial education that helped him in his football career and beyond.
Decorated former footballer Klate was recently part of the Football and Finance Summit initiated by Nedbank. The summit aimed at encouraging players, along with fans, to embrace money conversations and pursue a journey to make better financial decisions either for short-, medium- and long-term life goals. Klate took some time to share the pillars footballers can consider for managing their finances.
Self-awareness
Klate conveyed that to achieve his life goals, he needed to consider his career path as a player and beyond. This urged him to start planning around the elements of his life and what he wanted to achieve. He admits it was not an easy path, but certainly worth the sacrifice as living on less in the present does ensure your ability to achieve long-term life goals.
Lifestyle
The lifestyle one leads, according to Klate, especially for footballers who have a shorter career span compared to those with careers in corporates, must influence how they relate to their finances. If they lead a life of overspending in the present without considering their future life goals, maintaining a similar lifestyle after their football playing careers may not be a reality. Therefore, living below your means and delaying gratification will contribute to achieving long-term goals.
Life Goals
Klate kicked off his life goals by pursuing a Financial Accounting degree during his playing days, which he understood would be a great opportunity to broaden his horizon upon retiring from football. Also, Klate will soon be completing his Uefa A License that will have him coaching U18 teams, reserves for top-flight clubs and men’s professional second-tier clubs. His financial discipline ensured he had a solid foundation to set himself up for life after football.
Tobie Badenhorst, head of group sponsorship and cause marketing, Nedbank said: ‘We believe that the most important step towards achieving your goals in 2020 is to make sure you’re managing your money well on a day-to-day basis. It is encouraging to see how Klate is navigating his life goals through long-term planning and making informed decisions. As money experts who do good, we are using the Nedbank Cup as a vehicle to encourage football fans to strive towards their life goals not only for themselves but for their respective communities.’
