KNOWN for her illustrious acting career, Uzalo actress, Baby Cele, says a number of poor financial decisions left her in deep financial trouble. She said she misused her finances to such an extent that it led to her car and house getting repossessed.
Baby's troubles started at a time when her career was at its peak, when she starred on Sarafina. She got so excited about her earnings that she spent them carelessly.
“I had everything I wanted and didn’t think of the next day. I would buy whatever I wanted and couldn’t care less because I had the mentality of spoiling myself. I worked hard and I felt that I deserved to spoil myself with the money I had worked for,” she says.
She says getting work was not hard for her after Sarafina. She had an opportunity to join e.tv’s drama series, Backstage. That is when her spending habits went from bad to worse. Her spending spree came to a screeching halt when the cast of Backstage was informed that the production was coming to an end.
“We were told that they were discontinuing the show and that we should look for other jobs. The news came as a big shock, I was not ready for it. All of a sudden, I realised that I had nothing. My first born child was in boarding school at the time. I lost all my important assets and was clueless about my next step,” she says.
She had to figure out how she was going to pay for her child’s school fees.
IMPORTANCE OF SAVING
She blames her privileged background for what happened to her.
“I knew nothing about saving because I was never taught how to. I grew up with everything. Being broke was a big wake-up call for me,” she admits.
“I tried by all means not to show my daughter that I was struggling. My worry was the school fees and I had to make means to pay,” she says.
Unfortunately, she could not save her home and car. “I started realising how important saving is because you will never know what the future holds.” She finally took it upon herself to learn how to save.
“I started getting close to people who understood how to handle their finances.”
PARENTS MUST TEACH THEIR KIDS TO SAVE
She says her experiences have taught her the importance of teaching her children to save for a rainy day. She adds that it is important for parents to teach their children about having savings accounts.
Baby also advises those who aspire to be in the entertainment industry not to be swayed to spend recklessly to please others.