Benni warns of money trap

The route to bankruptcy for many is often complicated, but with footballers clear patterns have emerged.

Benni McCarthy, the former Bafana Bafana striker who earned millions playing in top European leagues, believes South African players still need to be educated on spending money wisely to ensure they can support themselves and their families after retirement.

"In Europe, players are professional enough to know when they can go out and have a good time," the retired striker said. "They know when to be serious and they know about not wasting money on cars. They are taught these things before they become professionals.

"Locally, we are not taught these things. We come from townships and all of a sudden you find yourself earning R200000 or even R400000 [a month]. What do you do? You have never been told how to manage your money. You did not go to school where you learn to live on, let's say, R25000 and put away the rest.

"But we want to entertain friends. You think how you look on the outside is important, but what happens in five years when maybe you break your leg and can't play any more? Now you're left with five cars. How are you going to live? Are you going to eat the rims from your Jetta?"

The former Orlando Pirates player, who is doing his Uefa A coaching licence, said he learnt a lot from his former manager Jose Mourinho about player management. And he plans to get to know his players on a personal level once he becomes a coach.