Wallaby Bernard Foley: 'If I earned money in my part-time job, I would probably hold onto it'

Wallabies star Bernard Foley sees parallels between investing and making money and his rugby career. 

Foley is the latest big name Aussie sportsperson to feature on the Channel Nine program Secrets Of The Money Masters.

A champion rugby union player, Foley is determined both on and off the field to do things better, and this includes improving his financial situation. 

 “I think there are a lot of parallels, in terms of having a financial plan and having a football plan,” he told the show. 

“You believe in it, you challenge it and you understand why you are doing things. Then you fully commit.

“You go into it making sure you set your goals along the way. 

“You are proactive, you are reassessing and at the end of the day if you put the hard work in, you are going to be successful.” 

Foley was partnered with Money Master Edward Blain from Orbis Investment to help him advance further when it comes to investment, property and his money. 

He grew up in Sydney in a large family, with five siblings, a schoolteacher mother and a lawyer father who ran his own business, so Foley was always conscious about his money, particularly because it was such a big family.

“Growing up I was a bit of a saver,” he said. “If I earned money in my part-time jobs, it wasn’t something I would go and spend straight away, I would probably hold onto it. 

“I never had a regular job, or a consistent income. I was probably a bit more on the tighter side.” 

Because of his rugby career, and the fact it could be cut short at any time, Foley has been careful when it comes to property investments. 

“With rugby … we don’t know what we are going to be doing in the future with short-term contracts,” he said.

“So for me, the long-term goal of buying a house was probably not the priority to start with, but it’s something that really interests me and something I want to explore.”

He now regrets not getting into the property market earlier and, at 29, is looking to change that and set himself up in the next few years. 

“Rugby is only a short period of your life, and there [will be] one day when I’m not going to be able to do it,” he said.

“I suppose it’s planning and putting yourself in the right position so when that day comes around that you are best prepared to handle whatever comes next.” 

In each episode of Secrets Of The Money Masters, well-known athletes are paired with a Money Master to learn and help their financial situation. 

Soccer star Kyah Simon, Paralympian Madison de Rozario and former champion Sydney footballer Jude Bolton are all featured on the show. 

The series is hosted by Vanessa Stoykov, with former Olympic swimmer Michael Klim to feature next week.

Missed Bernard’s episode? Catch up on Secrets of the Money Masters at 9now.