'I’m very conscious about how I spend. I don’t buy fancy cars. I buy bargains'


21 days ago

I am very conscious about how I spend money… I don’t buy fancy cars… I buy bargains...

Sipho "Hotstix" Mabuse

I’ve been able to send my kids to the best schools… That was more fulfilling than any other thing I can spend money on.

Sipho "Hotstix" Mabuse

Yes, so much! [When asked if he regrets misspending money in his youth] I wish I had known better then…

Sipho "Hotstix" Mabuse

Every week The Money Show’s Bruce Whitfield interviews a famous person about her or his attitude toward money (hopes and fears, successes and failures, etc.) as part of his “Make Money Mondays, Personal Edition” feature.

This week he interviewed the legendary musician, Sipho "Hotstix" Mabuse.

Mabuse started playing the drums when he was eight.

He was so good that he got the name “Hotstix”.

It stuck with him to this day.

Mabuse’s career started with the “The Beaters” (later “Harari”) in the mid-70s.

In the early 1980s, Mabuse hit the big-time with “Burn Out” (which sold more than 500 000 copies) and “Jive Soweto”.

Mabuse completed his matric in 2012 at the age of 60.

  • What does Mabuse believe about money?

  • Does it keep him up at night?

  • Does he spend like crazy or save compulsively?

  • How did his childhood experiences shape his views on money?

Listen to the interview in the audio below (and scroll down for more quotes from it).

Burn Out… it’s probably my piggy bank!

Sipho "Hotstix" Mabuse

The Beaters at High School made money… Suddenly all this money was in our pockets. We were well dressed… We bought some of the most expensive clothes… If I had known about money what I know now, things would’ve been different.

Sipho "Hotstix" Mabuse

I still wear my old cardigans!

Sipho "Hotstix" Mabuse

My father tried to be a good businessperson, but he failed dismally… He ran a small retail store, but for some reason, we couldn’t make ends meet… My mother was probably a better businessperson…

Sipho "Hotstix" Mabuse

My mother was told by my headmaster we were bunking school… behind me was my mother! She looked at me and said, ‘Oh, so this is school?’… My mother was extremely disappointed [about his decision to be a musician]…

Sipho "Hotstix" Mabuse

Before they passed on I was able to do all the correct things every African child is expected to do… I bought my mother a home…

Sipho "Hotstix" Mabuse

In our industry nothing is safe… I save as much as I can…

Sipho "Hotstix" Mabuse

The best thing I’ve ever done with money was to by my own house in Soweto… Recently I’m trying to purchase a piece of land…

Sipho "Hotstix" Mabuse

Black people are not really exposed to money in a way that young white people are taught, ‘This is how you save money’… When money came for us it was always to spend on the fancy little things, because we were showy…

Sipho "Hotstix" Mabuse

It’s not always beautiful cars and fancy clothes that matter. It is about how we save for the next 10 years, because the last hit may be the last one.

Sipho "Hotstix" Mabuse

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This article first appeared on 702 : 'I’m very conscious about how I spend. I don’t buy fancy cars. I buy bargains'

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