Make Money Mondays, Evergreen Content

Once homeless CEO Frank Magwegwe opens up about his money hopes and fears

My daughter once told me, ‘Please dad! No more poverty stories!’

Frank Magwegwe, Momentum Retail

One of the best money decisions I’ve ever made – after being fired for drinking on the job and living in the Bloemfontein train station – was to save every cent I was earning. I would never have got to Johannesburg if I didn’t do that!

Frank Magwegwe, Momentum Retail

I’ve done well. I don’t need a bigger house; I don’t need a bigger car.

Frank Magwegwe, Momentum Retail

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

This week Whitfield interviewed Frank Magwegwe, Executive for the Middle Market Segment at Momentum Retail.

Magwegwe’s life story is wildly inspirational.

Scroll down for quotes from the audio below.

I was about 4-years-old, living with my aunt. I had a choice of cereals for breakfast and desert after dinner! I wondered why we didn’t have these lovely things in my own home.

Frank Magwegwe, Momentum Retail

When I was 7 years old I realised that my father held on to the money he made.

Frank Magwegwe, Momentum Retail

We never talked about money.

Frank Magwegwe, Momentum Retail

You can spend money, you can save it or you can share it.

Frank Magwegwe, Momentum Retail

Money is at the centre of our lives!

Frank Magwegwe, Momentum Retail

A lot of clients I talk to spend far more than they earn.

Frank Magwegwe, Momentum Retail

I put aside 5% of my earnings for scholarships for kids.

Frank Magwegwe, Momentum Retail

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.

Read More
How to create more time (and how to spend it wisely)

How to create more time (and how to spend it wisely)

Make no mistake; strategizing to grow your business takes time. Yet, few business owners seem to have enough of it.

Some investments are more attractive after Budget 2017 (some not so much)

Some investments are more attractive after Budget 2017 (some not so much)

Personal Financial Advisor Warren Ingram gives advice on where to put your money; considering changes brought by Budget 2017.

Cricket SA guns for international superstars to play in new #T20 Global League

Cricket SA guns for international superstars to play in new #T20 Global League

Best. News. EVER! South Africa is getting its own global T20 league. Bruce Whitfield interviews Cricket SA CEO Haroon Lorgat.

Meet Zibusiso Mkhwanazi; CEO of “Digital at the core marketing agency” AVATAR

Meet Zibusiso Mkhwanazi; CEO of “Digital at the core marketing agency” AVATAR

Mkhwanazi – son of an entrepreneur – founded a web design firm (Csonke.com) with R2000 when he was 17 and still in school.

How money influences behaviour (by once homeless CEO Frank Magwegwe)

How money influences behaviour (by once homeless CEO Frank Magwegwe)

The Money Show’s Bruce Whitfield interviews Certified Financial Planner Frank Magwegwe.

Once homeless CEO reviews “How to think like a CEO” (and other inspiring books)

Once homeless CEO reviews “How to think like a CEO” (and other inspiring books)

Momentum Retail’s Segment CEO Frank Magwegwe talks about the books that inspired him from the streets to the boardroom.

Popular articles
Some investments are more attractive after Budget 2017 (some not so much)

Some investments are more attractive after Budget 2017 (some not so much)

Personal Financial Advisor Warren Ingram gives advice on where to put your money; considering changes brought by Budget 2017.

Criminal charges laid against culprit of Stellies rooster assault

Criminal charges laid against culprit of Stellies rooster assault

Police are probing a complaint about a man who tossed a rooster around and forced it to smoke a cigarette at a Stellenbosch party.

New transfer cost threshold an unwise move - property expert

New transfer cost threshold an unwise move - property expert

What does the Finance Minister's announcement on transfer duty threshold really mean for home buyers?

Budget 2017 and tax: The good (there is some), the bad and the ugly

Budget 2017 and tax: The good (there is some), the bad and the ugly

The Money Show’s Bruce Whitfield interviews TaxTim cofounder Marc Sevitz.

Cape Town has the worst traffic and Joburg pips it to the post

Cape Town has the worst traffic and Joburg pips it to the post

TomTom Traffic Index 2017 findings have revealed that Cape Town is South Africa’s most congested city when it comes to traffic.

Legality of Brian Molefe’s Parliamentary nomination called into question

Legality of Brian Molefe’s Parliamentary nomination called into question

A lack of transparency raises suspicions as to whether Molefe's route to Parliament has been ushered in with integrity.