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The Power of Self Discipline

MoneyMind
TEBOGO TOTENG

The majority of us know exactly what needs to be done but the reason why we still remain in the same situation year after year is because we never get down to doing exactly what we need to do. You know exactly what is needed for you to be successful but because of your past, low self-esteem, your circle of influence and other negative forces you end up giving up at the first hurdle.


Everybody knows they need to make their New Year resolutions, everybody knows they need to create and follow a budget but they just don’t get down to doing it. What is the difference between those who get down to doing what they need to do and those that don’t? It is called the power of self-discipline.


Discipline by far remains the most important factor to realizing your goals and achieving your dreams. All other factors rest on discipline because discipline is measured by the ability to do things that you need to do at the most appropriate time. No matter how good your plans and goals are but if they are not followed by the requisite discipline to doing what you need to do all your plans will come to naught.


Discipline is pivotal to any achievement. The ability to be able to stick to a desired plan is inextricably linked to any accomplishment. Discipline distinguishes between successful people and unsuccessful people. Discipline will therefore largely determine whether you will be successful or not.


Success experts consider discipline to be the underlying factor common across all great men and women. People who have achieved great things had the discipline to follow their plans, principles and do exactly what they need to do.


Disciplined men and women do not change their plans because of the spur of the moment remain unfazed by superficial activities and treats all the days of the year as the same. If you are disciplined you will accomplish a lot because you are determined to stay the cause. Develop the discipline to draw a budget and the discipline to follow your budget.


If you discipline yourself to do your tasks then you naturally develop the habit of doing things at the time that they must be done. If postpone your tasks you are postponing your success. But if you get things done faster you are accelerating your way to success.


Thousands and thousands of people spend needlessly and make unwise buying decisions. They overspend even though they know they are living beyond their budget. This is an issue of discipline because the same thing will happen over and over and probably for the rest of their lives if they do not change spending patterns.


Develop the habit of saving specifically for events such as Holidays and the discipline of staying stuck to your budget irrespective of the hype around you. Many are in debt in January and probably the entire first quarter of the year. The impact is humongous if you lose 3 months in a year the impact is equivalent to your hourly rate multiplied by 8 by 180 days.


The ability to do what you should do and make it part of you is the rudimentary and most basic factor that will determine your success.


All of these information we all know but the ability to put into practice the principles that we know and those that we learn will go a long way in assisting you to be successful. Discipline forces you to do things that you may not want to do or conversely ensure that you do not do things that are not adding value to your life.


If you accomplish 20% of the task that gives you 80% of the results and ensure that you stay at your tasks until you get things done. You will achieve more by your ability to distinguish greater impact tasks and tasks that contribute little to your overall success.


Why January remains one of the most difficult financial months for you is because of lack of self-discipline. We were not prepared for the festive season and the results are extreme financial difficulties in the beginning of the year. The question is how will be January 2016? My answer is it will be the same if you employ the same financial approach. In all honest it does not have to be if we become disciplined to follow the financial tips of MoneyMind.


If you are to have a tab on your money drips, you need to have a monitoring tool which is your budget. Over 70% of adults do not have budget and that is where the problem starts. If you don’t have a budget you cannot manage your income. You cannot determine what luxury is or not or where the gap in your budget is. The budget will be the biggest starting point to disciplined money management.
My biggest tip is the simplest one: Create a budget and follow it.  

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China’s GDP expands 3% in 2022 despite various pressures

2nd February 2023
China’s Gross Domestic Product (GDP) expanded by 3% year-on-year to 121.02 trillion yuan ($17.93 trillion) in 2022 despite being mired in various growth pressures, according to data from the National Bureau Statistics.

The annual growth rate beat a median economist forecast of 2.8% as polled by Reuters. The country’s fourth-quarter GDP growth of 2.9% also surpassed expectations for a 1.8% increase.

In 2022, the Chinese economy encountered more difficulties and challenges than was expected amid a complex domestic and international situation. However, NBS said economic growth stabilized after various measures were taken to shore up growth.

Industrial output rose 3.6% in 2022 over the previous year, while retail sales slightly shrank by 0.2% data show that fixed-asset investment increased 5.1% over 2021, with a 9.1% hike in manufacturing investment but a 10% fall in property investment.

China created 12.06 million new jobs in urban regions throughout the year, surpassing its annual target of 11 million, and officials have stressed the importance of continuing an employment-first policy in 2023.

Meanwhile, China tourism market is a step closer to robust recovery. Tourism operators are in high spirits because the market saw a good chance of a robust recovery during the Spring Festival holiday amid relaxed COVID-19 travel policies.

On January 27, the last day of the seven-day break, the Ministry of Culture and Tourism published an encouraging performance report of the tourism market. It said that domestic destinations and attractions received 308 million visits, up 23.1% year-on-year. The number is roughly 88.6% of that in 2019, they year before the pandemic hit.

According to the report, tourism-related revenue generated during the seven-day period was about 375.8 billion yuan ($55.41 billion), a year-on-year rise of 30%. The revenue was about 73% of that in 2019, the Ministry said.

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Business

Jewellery manufacturing plant to create over 100 jobs

30th January 2023

The state of the art jewellery manufacturing plant that has been set up by international diamond and cutting company, KGK Diamonds Botswana will create over 100 jobs, of which 89 percent will be localized.

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Investors inject capital into Tsodilo Resources Company

25th January 2023

Local diamond and metal exploration company Tsodilo Resources Limited has negotiated a non-brokered private placement of 2,200, 914 units of the company at a price per unit of 0.20 US Dollars, which will provide gross proceeds to the company in the amount of C$440, 188. 20.

According to a statement from the group, proceeds from the private placement will be used for the betterment of the Xaudum iron formation project in Botswana and general corporate purposes.

The statement says every unit of the company will consist of a common share in the capital of the company and one Common Share purchase warrant of the company.

Each warrant will enable a holder to make a single purchase for the period of 24 months at an amount of $0.20. As per regularity requirements, the group indicates that the common shares and warrants will be subject to a four month plus a day hold period from date of closure.

Tsodilo is exempt from the formal valuation and minority shareholder approval requirements. This is for the reason that the fair market value of the private placement, insofar as it involves the director, is not more than 25% of the company’s market capitalization.

Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond and metal deposits at its Bosoto Limited and Gcwihaba Resources projects in Botswana.  The company has a 100% stake in Bosoto which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana.

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