Local economist tips Batswana on financial management

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A local economist, Moagi Kenosi, has recently published a book entitled How You Can Solve Your Financial Problems to address the lack of personal financial management among Batswana. The book is designed to help readers to have, among other things, some basic knowledge of personal money management - how to make money, keep money and use money to create wealth.

"I realised that our education system does not cater for that knowledge which is why I came up with the idea of writing the book," Kenosi explained.
The 38-paged book is also meant to teach the readers in simple language about investing, the right and the wrong use of debt, wealth creation process, managing income, controlling expenses and the impact that these have on one's long-term financial well-being. 
One of the good things about How You Can Solve Your Financial Problems is the simplicity of its approach and many people, even those that do not have a background in economics, will be able to understand it.
"All one needs to have to be able to read this book is the basic knowledge of the English language," Kenosi explained.
The 44-year-old father of two sons from Moshupa, believes that 'within each one of us lies enormous power to achieve most of the things we want in life and that remains largely untapped' - and that is the power to create wealth, happiness, lives which have meaning and purpose, and everything good that one has ever dreamed of.
Kenosi says that his interest in financial planning and economic empowerment of the ordinary citizen has motivated him to write this book in the hope that it will eventually make a contribution towards promoting knowledge of proper management of finances and other resources at an individual level.
How You Can Solve You Financial Problems is divided into two parts.
Part One is titled 'Expand Your Financial World' and has the following chapters 'You Can Live Within Your Means', "You Can Expand Your Means', 'Never Part With All Your Money' and 'Managing Debt'. Part Two is titled 'How You Can Solve Your Financial Problems' and it has three chapters namely, 'How To Plan Your Financial Manager', 'Making a Transition From Poverty To Wealth' and 'Share Your Wealth'.
In the summary, Kenosi advises his readers that there are six areas, which are critical to sound financial management. They are: Understanding investment in assets which will produce ongoing income and growth over time; knowing debt management; understanding the importance of constantly growing your net worth (the net value of you assets after deducting liabilities); management of income; spending; and net/surplus income. 
Kenosi, who has a Master of Arts degree in Development Economics from Williams College, Massachusetts, United States (US) has a career spanning 17-years and is currently the acting director of the local government planning in the Ministry of Local Government. He is working on another book that he hopes to publish soon.
 
 

 

Editor's Comment
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