'Ungratefulness... we’ve already made mistakes teaching our kids about money'

141 days ago

My worst money decision… was the last new car I bought… It was a Volkswagen… I paid it off now, and I won’t buy a new one soon… If you can’t buy a car cash, it’s not a great buy… I’ve learned that the hard way, and I won’t do it again.

Heinz Winckler

We’ve already made some mistakes [teaching his kids about money] … when we see ungratefulness… I tried to communicate… that daddy has to work… so we can have food on the table… It’s a constant challenge…

Heinz Winckler

At the beginning of our marriage, I asked my wife, ‘It looks to me like my money is our money, but your money is your money’… Now my money is everybody’s money…

Heinz Winckler

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 Arabile Gumede (in for Whitfield) interviewed musician and actor Heinz Winckler.

Winckler is probably most well-known for winning the very first series of South African Idols.

Born and bred in Stellenbosch; he studied law there before dropping out to devote himself to his music career.

His debut single, “Once in a Lifetime” sold more than 100 000 copies in South Africa.

In 2003, Winckler came fourth in at the first World Idol competition.

  • What does Winckler 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).

It was quite overwhelming at first [winning Idols]. I wasn’t used to the sort of income of that size… I knew I needed help…

Heinz Winckler

I grew up in a bit of a protective bubble… I thought all adults were like my parents…

Heinz Winckler

I lost a lot of money in the first year [after Idols] …

Heinz Winckler

The best gift we can give our kids is to be around them…

Heinz Winckler

I thank God for a wife that loves spreadsheets and organising our finances! … We have a rule; anything above R1000 we discuss before we spend…

Heinz Winckler

I learned early on if I wanted extra luxury, I had to work for it… I was 13 when I started to deliver papers… When I was 16, I wanted a guitar; I had to work for it… I did waitering, I did deliveries, I DJed – that was actually my favourite job… I could put together a pretty decent mix!

Heinz Winckler

I got a Denim card from Volkskas bank when I was 7.

Heinz Winckler

My best ever money decision? … every time I invested in my career… putting a small home studio together with proper gear…

Heinz Winckler

I’ve been challenged by people who grew up differently and who think differently…

Heinz Winckler

The way the wealthy think and the way the poor think. There’s a huge difference between the two.

Heinz Winckler

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This article first appeared on 702 : 'Ungratefulness... we’ve already made mistakes teaching our kids about money'



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