They may have spent their millions on different things, but one thing the I Blew It participants all agree on is that financial literacy is a must.
This season we saw brand-new stories, include reality television star and musician Bongani Fassie, Sheldon Amechellan who blew his R1.2 million in four weeks, as well as Petrus “Small Ma Million” Masumbuka who blew his R1.8 million pay-out on expensive hotel living and nightlife.
Here are the biggest lessons from this season’s participants:
After getting a R1.8 million inheritance from his adoptive mom, Keketso immediately bought a bought a van. A lot of the money was spent on entertainment and fixing the family house. He admitted that that ff you don’t have financial knowledge then you are in trouble. “You need to know how to handle it. Money is power,” he said.
Zanele was hit by a truck and was in a coma for weeks. She got her R2.5 million payout in 2016 and spent it on entertainment, a family ceremony, a house and a car for her sister. She lost everything in an instant and became a laughingstock in the community. Her advice to anyone who gets a huge amount of money is don’t spend it on alcohol.
Innocent got his first gig as Bobo, a character on the then popular drama series Yizo Yizo. Soon after this, he got another role on Zone 14 and Tshisa. The money was spent money on entertainment, several cars and drugs. He regrets the first time he got hooked onto drugs. “My advice is don’t do drugs,” he said.
Sibusiso was involved in an accident back in 2007 and got a payout of R1 million. He spent it on a car, gambling and clothing. Sibusiso believes experience is the best teacher. “A lesson will always be a blessing,” he said.
After getting a recording deal, Khulekani bought a car, a house. Things quickly spiraled out of control, and he ended up in rehab. “I hope the youth learns that you cannot control drugs. You lose yourself along the way. Alcohol and drugs kill,” he said.
It took him four weeks to blow his R1.2 million! Sheldon bought five cars, spent money on family and friends and entertainment. After spending all the money, his parents were angry at him. “Never let money change you. Listen to your parents and don’t make the mistakes I made,” he said.
Gerald got his big break and signed to SuperSport United. He spent his money on entertainment and in the process, he lost his car, house.