TV queen gives money advice
BBC World News presenter Lerato Mbele has come a long way from her days working the aisles at Edgars. She tells Loni Prinsloo more about financial security and her dream job, which allows her to explore the world and takes her places she could never have
Broadcasting was an accident — I truly wanted to be a diplomat or a lawyer. But as someone who loves debating, reading and exploring the world, this career was the best place to develop all my passions. Also, in the wide array of news stories, I get to tackle the issue of justice while building bridges across nations. So my childhood dreams are all wrapped up in one bundle. My BBC job takes me to places my mind could never imagine, and that’s amazing.
I’ve realised how nonchalant I am about money — but now I see that being conservative can be good for your financial security. The wealthiest people, whom I interview on Africa Business Report, are often the tightest with money.
Another important lesson is that it’s OK to try new investment strategies beyond bonds or unit trusts. I have found that doing something small is better than doing nothing at all in terms of financial independence. What was your first job and pay ? How did you manage?
I was a receptionist and an usher at Edgars Eastgate in Johannesburg. It’s a job I did over school holidays . . . I must have earned about R500 a week, but when you’re 18 that’s like win- ning the Lotto. Getting my weekly wages was empowering. What has been your best career choice to date?
Joining BBC World News, need I say more? it’s the largest and most reputable media organisation in the world. If you hit the jackpot today, what would you spend it on?
Dream house, dream holiday. What are some of your money weaknesses?
I’m someone who buys shoes on a whim, takes random holidays and indulges friends and family. Do you have any career role models?
The first time I realised I wanted to be a television host was watching Connie Chung on 60 Minutes — she epitomised intellect, feminine charm and composure. I admire Felicia Mabuza-Suttle because she was a groundbreaker for South Africa television and had the necessary attributes: conviction, passion and professionalism. Graça Machel, Hillary Clinton and the late Benazir Bhutto — as activists, intellectuals and leaders — are the kind of women I’m hoping to become one day. Did your childhood teach you anything about money?
My dad was careful and my mother was flamboyant. My dad hasn’t had much fun; my mother has toured the world. From one I learned it’s good to save for a rainy day. The other showed me that there’s no point in working hard if you can’t enjoy the fruits of your labour. Have you ever been hard up?
Hard up is relative — I’ve been out of a job, but I was never without a home, food or petrol. However, I had to draw down my savings just to cope. That was a bit nerve-racking because I knew that I would soon run out.
After three months, the universe came to the rescue. What has been the best money advice you have received?
Save for your retirement while you’re still young — I started at the age of 24. What do you view as some of your better investments?
Property and shares. What are some of your career and money plans?
My future is not planned in monetary terms — I want to be one of the best in the media business and extend that to areas of public diplomacy. This will not bring me wealth, but I will have great joy and stimulation. That’s enough for me.