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.


This article first appeared on 702 : Once homeless CEO Frank Magwegwe opens up about his money hopes and fears


Recommended

by NEWSROOM AI
Read More
Why businesses stop growing (a lesson for entrepreneurs)

Why businesses stop growing (a lesson for entrepreneurs)

The Money Show’s Bruce Whitfield interviews Aurik Business Accelerator founder Pavlo Phitidis.

How to buy your first share (even if you only have R50, or less)

How to buy your first share (even if you only have R50, or less)

Got R50? No? Got R5? Personal finance expert Warren Ingram on how to buy shares with tiny amounts of money.

‘Budgeting’ for people who don’t budget (and probably never will)

‘Budgeting’ for people who don’t budget (and probably never will)

A simple savings plan for people who don’t like to budget. Bruce Whitfield interviews personal finance guru Warren Ingram.

[LISTEN] 'Our fight with Sars concerns R 217 million' - Christo Wiese

[LISTEN] 'Our fight with Sars concerns R 217 million' - Christo Wiese

The South African billionaire has responded to reports placing him at the centre of an alleged tax evasion scheme.

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
Parents no longer have to travel with children's birth certificates

Parents no longer have to travel with children's birth certificates

The new Home Affairs upgrades to the system include printing parents details at the back of the child's passport.

Tell me what you want: Study reveals most common sexual fantasies

Tell me what you want: Study reveals most common sexual fantasies

What are your sexual fantasies? Disclosure can bring sexual freedom, but it can also have downsides. A study lists the top trends.

More arrests are imminent in connection with the cash-in-transit heists - Hawks

More arrests are imminent in connection with the cash-in-transit heists - Hawks

Seven suspects were arrested in Limpopo in less than 24 hours after a cash-in-transit vehicle was blown up in the province.

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)

The story of amaBhungane (and how it’s digging up dung on the Guptas & friends)

The story of amaBhungane (and how it’s digging up dung on the Guptas & friends)

The Money Show’s Bruce Whitfield interviews amaBhungane Centre for Investigative Journalism Investigative Journalist Craig McKune.

Meet Elmar Conradie, CEO of low-cost FlySafair (world’s most on-time airline)

Meet Elmar Conradie, CEO of low-cost FlySafair (world’s most on-time airline)

The Money Show’s Bruce Whitfield interviews Conradie for his “ShapeShifter” feature.

Criminals targeting homes with aluminium windows, warns neighborhood watch

Criminals targeting homes with aluminium windows, warns neighborhood watch

The Panorama, Welgelegen and Plattekloof Neighbourhood Watch has identified a new house break-in trend.