'I earned the same as Beckham, at 16'

Fame & Fortune: Premier league footballer Robbie Savage, 38, retired in 2011 to become a media pundit and co-presents BBC Radio 5 live's 606 football phone-in.

How did your childhood influence your work ethic and attitude towards money?

Dad had to work every hour he possibly could to help provide for Mum, my brother and I, even for basic things like my first pair of football boots. He used to go to work at 6am.

I certainly didn’t have a silver spoon in my mouth. While a lot of the other boys locally were going around in the newest clothes and adidas trainers, I certainly wasn’t. When we’d play footie in the local park, I wasn’t allowed to play if it was muddy – because mum didn’t want me to get dirty. Dirty clothes meant more cleaning and that meant more expense. Mum used to give me money to go the shop for her – and I knew it was tight.

When Dad arrived home from work in the evening, I’d jump in the car and he’d take me to football training. We wouldn’t get back until 10pm, so it was a long day for him. The first thing I did when I went professional was to look after my parents after all they’d done for me. Dad was only 64 when he died earlier this year from Alzheimer’s and Mum’s not long had a stroke, so it’s really hit home how much they’ve sacrificed for us boys.

You left school at 16 after doing your GCSEs. Did you worry about how you were going to manage financially?

I joined Manchester United as a trainee striker straight out of school. I was with 13 other boys, including David Beckham, on £29.50 a week on a YTS scheme. Everything like digs was paid for, so we could just concentrate on football. Just to be given money to play football was amazing because we’d been doing it all our lives for nothing until then.

Do footballers deserve such big salaries?

Footballers get to a level now where they can earn £150,000 a week and I agree with that. This is an entertainment business and footballers are earning every penny.

But I disagree with young players getting paid huge salaries. They’re expecting too much, and getting too much too young.

Are you a saver or a spender?

Definitely a spender. I saw my dad suffer in his later years, and I know you can’t take money with you. He and Mum had scrimped and saved all their lives so Dad could retire and take the grandchildren on the odd holiday, but that money means nothing to her now because she doesn’t feel right enjoying it without her husband around.

For me if I’ve got it, I spend it. If I’m broke in five years, I’ll have had a great time. It’s the most difficult lesson I’ve had to learn about money: you can’t take it with you.

I like spending on cars, clothes, food and wine – the nice things in life. Even though I’m a spender, I’m also a grafter and I work exceptionally hard to keep it coming in. I’ve had people have a go at me for this, but I’ve had some unforgettable experiences because of my work ethic.

What’s the most difficult lesson you’ve learnt about money?

Just that: you cannot take it with you.

What do you hate about dealing with money?

Other people being jealous. I used to take my team-mates on holiday with me every year because I like to look after people, but the last thing on my mind is making others look bad if I’m paying. Having money can break up friendships so you have to be careful and diplomatic as to how you go about spending it. I’d never do it to show off; I’m doing it because I care.

What has been your best business decision?

Retiring from football when I did at the end of the 2011 season. I could have gone on – I was captain of Derby, we had 30,000 fans out cheering us on every week, I was still fit and I was on decent money. But having done Strictly Come Dancing, it made me realise there were other things out there for me and it would be better for my future to go out on a high.

The biggest thing for a footballer or any professional sportsman is that you don’t want to retire with regrets. Retiring when I did has turned out to be the best decision I’ve ever made.

A lot of players get depressed when their playing career is over because they are no longer put on a pedestal. I would say I’ve been very lucky with the opportunities I’ve had since I’ve quit. Just because I used to play doesn’t mean I get special treatment now that I’m commentating for the BBC. I realise I’ve got to pay my dues, whether it’s doing smaller clubs on a Tuesday night or working on my birthday.

Getting onto Five Live is any pundit’s goal, so it was a real honour to win the Sony Radio Academy Rising Star Award in 2011 – I knew I was on the right track. I’m enjoying working for the BBC and elsewhere. I just want to get better at it.

Are you a cash, credit or debit person?

Debit – I don’t even own a credit card, it just causes problems. I think it’s too easy to overspend with one.

Are you a good tipper?

I make my wife pay. From the outside, you’d think I’m quite a confident person, but I’m actually quite nervous and insecure.

If we’re in a restaurant and the wine is corked or the chips are cold, I won’t send them back. I’ll just deal with it because I don’t like to make a fuss.

When the bill comes, I just let Sarah deal with it and I disappear to the toilet.

Do you invest in stocks and shares?

My wife’s uncle lives in Canada after they emigrated when she was a young girl, so I did get into mines. I broke even from Agnico-Eagle’s Goldex mine. I don’t invest much, though, so if it goes wrong, I don’t lose much.

Do you bank online?

No, I’m too old-school for that. I’m with Lloyds TSB and have been since I was a 17-year-old trainee and luckily I have had the same manager all that time, so I like to stick to the human contact.

What are your financial priorities right now after shifting career?

I just want to look after my family and put my kids through school. I’m working much harder now than I did as a footballer. Being a footballer is the best job in the world but you’ve got to fill the void. I’ve moved to a whole new career as a journalist with no training and it’s hard work. It’s far harder than it looks.