Don’t flash the cash, say stars

Time to save, say Cassper and Pearl

THE latest single by Cassper Nyovest is likely to surprise fans of the high-rolling hip hop star.

Mr Madumane (Big $penda), which was released yesterday, looks at conspicuous spending, what motivates us to do it, and the inevitable debt trap that ensues.

Fans and followers of the award-winning rapper can be forgiven for thinking Nyovest has had an epiphany. In a sense, he has.

It was revealed this week that Nyovest has committed himself to being a “conspicuous saver”. So too has actress and model Pearl Thusi.

The two were enlisted by Sanlam to use their influence this month during National Savings Month to urge South Africans to be smart with their money, to think twice before incurring debt and to make saving a higher priority than spending.

This explains a series of unusual posts by Nyovest on Instagram over the past month – think pictures of Cassper shopping at Mr Price; Cassper carrying several packs of braai meat captioned: “Buying bulk = spending less”; and a photo of a jar of coins captioned: “Take care of the pennies and the rest will follow.”

Nyovest, known for hit singles Gusheshe and Doc Shebeleza, said he decided to participate in the initiative because he wants to be a positive role model.

Mr Madumane is a flamboyant character who likes to flash his cash. “We all know a Mr Madumane,” says Nyovest. “He spends to impress everyone, yet no one is impressed. This is what inspired the song.”

The lyrics include: “You make a lot of money from the get-go / A lot of people end up in debt though / Cause you’re always in flex mode / You’re suspecting the pest souls / Too good to set goals / Speak, spenders / Think they’re on fire so they burn the cheques / Spending money just to earn respect.”

Nyovest said the message in Mr Madumane is relevant to those who allow themselves to be pressured into debt. People need to rethink what’s important, he said.

“We keep spending ourselves poor trying to look rich. We need to realise that you can’t spend yourself rich.”

July is National Savings Month, but for the rest of the year South Africans are bombarded with messages that encourage instant gratification, said Cora Fernandez of Sanlam Investments. “We need to change the narrative around money, to start dinner conversations about how well our investments are going or how secure our future is look- ing, rather than what we have just bought.

“We want to fire up a nation of #ConspicuousSavers to set ourselves on a path of true, lasting wealth creation.”

Check out the music video on YouTube. For the full story, read Personal Finance.

PICTURE: SUPPLIED Local celebrities Cassper Nyovest and Pearl Thusi are taking saving seriously by committing to being conspicuous savers this month, which is National Savings Month.