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6 Reasons why you don’t have money but…

TEBOGO TOTENG
MONEYMIND

Millions of people around the world face complex financial decision everyday. However they have very little knowledge of how money works because they never really were taught. It is thrilling that the most important subject Money remains a taboo yet like the popular saying money makes the world go around.


When I decided to become a self-taught student on the money subject I came across the greatest lesson of success; financial independence. Financial independence is inter-twined with human being’s utmost pursuit; the pursuit of happiness.


A good home needs money, a comfortable and safer car needs money, engaging in charity work needs money and church needs money. While it is true that what makes us happy differ from one person to another, most if not all the factors that makes one happy needs money.


Financial independence is simply when one have an asset base that exceed his/her liabilities. When you have constant income that flow through and you never have to worry about money then you have attained financial independence.


The problem is that we go through school to get the best jobs and earn a salary and then we become slaves to our salaries. We become so much indebted that if you lose your job today you will immediately become bankrupt. You hate your job but you stay stuck because you can’t do without the salary.


The reason why 10% of the population controls 90% of the available resources is because they don’t work for money, money works for them. They have mastered the principles of money and have become efficient at using other people’s money and time to grow their own money.  


Most of them have become self-made millionaires by the age of 40, and they never have to work again because they have more assets than debts. They avoid bad debts and bad debts they define as debts that will not bring money.


The unfortunate thing is that you and I have bumped into the concept of financial freedom by accident while some have never heard about the subject at all. We were raised to become educated and find good paying jobs but not everyone is lucky and have found good paying jobs.


Everyone though has an opportunity to leverage on time and invest towards financial freedom. Delaying gratification for a while could be a huge factor. Recently I met a client who I am sure will be millionaire if already she is not.


She started working 10 years ago rose through the ladder and she earns in excess of P20000 per month. She has never owned a car. She invested over P4000 in her insurance policies. Her reasons for not owning a car are that she wants to make savings on the petrol and car insurance. She has a cab she pays 350 pula per month for ferrying her around.  She then smiles and tells me I will buy a Mercedes in the near future after finishing my obligations.


Incredible isn’t it? Being able to have a long term view of the future is an ingredient of financially successful people. Success expert Brian Tracy says only those who plan for the future will have one.
 “Your life only begins to become a great life when you clearly identify what is that you want, make a plan to achieve it and work on that plan every single day.”  Brian Tracy

 SIX PRINCIPLES TO START YOUR JOURNEY TO FINANCIAL FREEDOM

 I am always the problem
The man who changed my perspective towards life is the man who told me that I should always view myself as the problem, take complete responsibility for everything happening in my life and knowing that everything that happens to me is a direct consequence of my actions. Failure to take responsibility simply cultivates a culture of shifting responsibility. Once you begin to realize that everything that happens in you life you have attracted, you will begin to see your life take a different direction. Let us put it this way your current financial, spiritual, physically, health status and many other aspects of your life are a total summation of your past actions.

Waiting for change from outside   
Many people see investment as a distant decision, a decision they can keep postponing to infinity. As the years rollover, so does the indecision but who are you waiting for. Nobody will come outside to come and effect change in your lives. You are the change that you seek and the decision for greater future starts today.    
“You miss 100% of the shots you never take” Wayne Gretzy

Who Me
When you graduate out of college it never occurs to you that you will one day retire. It is packed in the distant memory. Without proper preparation you will easily form 94% of people in the country who will experience a reduced quality of life because you never thought it could be you.


Make a decision
If it is not done but only said it is commentary. A lot of what is in this article is common knowledge but we never bother to take action because we think we have time but we don’t. Be wise and take a decision today. Hoping, praying and intending is not enough but solid steps will ensure that we retire financially independent.  


Pay the Price
“If you cannot save money then the seeds of greatness are not in you” W Clement. If you cannot practice budgeting as a life long habit, it will be impossible to achieve financial independence. You need to save between 10-15% of your monthly income. You can start small and then opportunities for saving will open up.

Time Perspective
How you view the future in longer term affects the decision that we take today. The tendency of thinking we will cross the bridge when we get there has a long lasting financial implication on our future.

Yours truly towards financial independence

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Food prices continue to rise, but at a slower rate

28th November 2022

Prices for cereals or staple foods in Botswana and other Southern African countries continue to rise at a slower pace, following trends in the global markets, according to the latest November 2022 Food Price Monitoring and Analysis by Food Agricultural Organization (FAO) of the United Nations.

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Still doing business the old way?

18th November 2022

It’s time to get business done better with MTN Business Botswana’s ICT Solutions.

Running a digital businessMTN Business Solutions Botswana, popularly known as MTN Business is an Internet Service Provider. We are a subsidiary of MTN Group Limited, a multinational telecommunications Group headquartered in South Africa, which operates in 19 markets across Africa and the Middle East.

More and more, clients are looking for ways to keep their staff productive in a dynamically changing business environment. Whether your people are working from home, the office or abroad, there is a growing recognition that digitising your operations can offer unprecedented commercial value in flexibility, productivity and growth. This new, digital reality means that it is more important than ever to stay agile – if there is anything that can slow a business down, it is being burdened by othatld technology.

Having made substantial investments in fibre technology, high-speed terrestrial and undersea networks and new frequency spectrum across the markets wherein it operates, MTN is perfectly positioned to respond to this shift in the market.

A few years ago, MTN also made the decision to build an IP capable radio network for its mobile services, giving its core network the ability to seamlessly integrate with enterprise IP networks. The mobile towers deliver services to enterprise clients absolutely anywhere it has a network, shortening the last mile and removing complexity and cost.

Now there is increasing demand from clients to connect their remote sites in all areas, including rural and semi- rural. MTN has assisted clients with overcoming this connectivity hurdle, enabling their staff to get the job done wherever they are.
MTN’s evolution

For MTN, the focus has shifted from just being a core telecommunications services provider, towards also becoming a technology solutions provider. The service offering now also includes Unified Communications, Data Hosting and Cloud Solutions, Security-As-A-Service and Managed Network Services. The scope has changed to being client and industry specific, so the requirements and service portfolio vary from one client to the next. The expectation is that a company like MTN must respond to these challenges, helping clients to get business done better as they shift from old to new technologies.

As many businesses continue to grapple with a digitally dynamic world, they face new challenges that have to be solved. This environment will benefit those that are more digitally enabled and agile. It is a brave new world that will favour online over on-site, wireless over wired and fluid over formulaic. Businesses will seek out partners and suppliers that are every bit as flexible and forward-looking as they are.
Ultimately, clients need partners like MTN Business that will invest in infrastructure, deliver the services they require, have market credibility, are financially sound and have a long-term commitment to their market presence.

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Business

BIE to vitalize the Dignity of Engineers

9th November 2022

Botswana Institution Of Engineers (BIE), has last week hosted a gala dinner in  which they appreciated engineers who worked tirelessly and with dedication for 10 years from 1983 to steer the BIE to its current status.

The event that was held at the Phakalane Golf Estate had brought together young, experienced and veteran engineers and was held under the theme “Vitalize the dignity and eminence of all professional engineers”.

Explaining the theme, the institution’s treasurer, Thanabalasingam Raveendran said that engineers were looked upon reverentially with respect as the educated but with time it seems to have deteriorated. He indicated that there is a need to change the narrative by all means.

“The BIE exists for the welfare and the betterment of us Botswana engineers, we need to recognize specialised units within our Institution. We Engineers strongly believe in Engineers make it happen” Raveendran said.

He indicated that under the theme they appeal to all engineers to energize, to attain quality of being worthy of honour and respect and to achieve recognized superiority amongst the Society.

Raveendran stated that engineers need to ensure their end product is of good quality satisfying the end users expectations and engineers must be honest in their work.

“Approximately 8000 engineers registered with Engineering Regulatory Board (ERB) are not members of the BIE, engineers need to make every effort to recruit them to BIE” he said.

He alluded that BIE being a society, it currently needs to upgrade itself at par with professional institutions elsewhere like the UK and USA.

He further stated that BIE has to have engineering units of specialised disciplines like Civil/Mechanical/electrical etc

“As President Masisi indicated in his inaugural speech, the young people, who make 60 percent of the population of this country, are the future leaders and therefore investing in them is building the bridge to the future” said Raveendran

Kandima indicated that BIE has a memorandum of Understanding with Engineers Registration Board (ERB), where BIE is a recognised provider of CPD training, mentorship programmes and more importantly IPD undertaking to upgrade the skills and know-how of our engineers.

“For us to achieve our mandate and make worthwhile changes to engineering in Botswana, we have to be totally focused and act with intent” said Kandima.

Furthermore, Stephen Williams, past president of the BIE from 1986-1988 told the engineers that  the BIE provides a fertile environment where they can meet, share ideas and grow professionally.

“The BIE is also a nesting place for graduate engineers to learn from their peers and seniors, it also cater for engineering technicians and technologists and so nobody in the technology field is left out” he said.

He further indicated that Botswana Government provides a conductive environment for growth of engineering professionals.

“It must be stated that the Botswana Government recognises the existence of BIE and it can further be stated that the government enables ERB to carry out its mandate as a regulator of engineering professionals” said Williams

He plead with engineering companies to recognize and support BIE as it is the only source of engineering personnel’s for various Industries .

Furthermore, when giving his farewell speech, Michael Pinard , a past president of the institution  said how they are viewed as engineers by the general public might be due to some lack of appreciation as to exactly what role they play in the development of the country.

“The BIE slogan is aptly coined-Engineers make it happen, in other words, what man dreams engineers create” Said Pinard.

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