Money related crimes

By Mpalie Bothoko

According to Assistant Superitendant P Vakalisa of the Central Police station in Gaborone, statistically speaking credit card fraud is more prevalent in Botswana as opposed to scams concotted by perpetratures to cheat people out of their money.With refernce to this fraud, it is found that the most common occurences relating to credit card fraud is where criminals will physically steal the cards from careless owners and use them to pay for goods and services.This practice is further perpetuated by the fact that dealers or corporations offering these goods and services in Botswana rarely if ever request that any credit card transation should be accompanied by the presentation of valid identification.

Money related crimes are quite extensive and the list of scams is by most regards inexhaustible. it ranges from counterfeits to petty theft, false deals to loan sharks. However, the common trend that exists between them is that the fast growth of these activities is spurned by a lack of concern for personal security by individuals. The tiniest preventative measures have been found to have the geratse effect according to the Supritendent.She says that people are careless enough to relinquish their bank cards to private loan firms as insurance which although is an illegal practise, it is difficult to contorl by the authorities as these firms are legally registered with banks. It all comes down to the public to be vigilant, inqisitive and not easily taken by whimsical promises of fantastic income. Financial security, just like financial management is the responsibility of the individual above all else.

Credit cards

By Thabo M. Makgato

Credit card companies are very smart and seductive as they know exactly what to do to get consumers deeper. Credit cards can be obtained form banks, shops etc which means that people can build up credit if they do not pay it off on time, therefore it is important that people handle credit cards carefully. Research shows that money and wealth can create both positive and negative feelings for individuals and families. It is though that the reason for loss of money is poor financial planning, however recent evidence shows that 90% is lost due to poor financial and emotional preparation and only 10% is due to poor financial planning. This means that the relationship between money and psychology is a key aspect of growing and preserving wealth. The question might be "what makes you choose one product over another when shopping?" The answer lies in a complicated mix of psychology, symbolism and marketing. Conscious shopping could be the key to controlling your spending.

Why should you manage your finances?

By Boineelo Shole

Personal financial management is a vital long-life skill that may seem unimportant, and yet it determines how one successfully meets their needs and still manages to save money for future use. This skill is one that determines how one decides what is important and learns to differentiate between fundamental needs an lavish ones. It is a skill that affects so many areas of peoples lives,health education and communication etc. Personal management is one important skill that not only affects households and families, but also governments and ultimately, the economy of the world. For example, overspending, credit cards,mortage loans and bad spending habits by people are one of the factors that have contributed to the financial recession worldwide, therefore we see that the financial decisions that individuals make affect the economy one way or the other.

How does financial management relate to Botswana

By Kesegofetse Sentsima

One can wonder how does personal financial management relate to Botswana. First and foremost, we are living in a where the form of trade is in  monetary terms. People use the for money for meeting their basic needs, paying services and so on and so forth. Therefor,if money is such an important part of our lives, then like any other valuable resource, it should be used wisely.

Botswana is still a developing country; it scored 62% in the open budget index 2008,falling in the category of providing significant information the central government budget and financial activities. It was also rated 16 out of 85 countries. Even though that is the case,the average Motswana requires good financial knowledge,in order to benefit most from their source of income. Personal financial management is an important part of contemporary society considering the lavish lifestyles encouraged y the media and advertising.,increase in fraud and skepticism towards ones financial security and other factors that affects ones personal finances. The overall cost of personal financial illiteracy to our society is huge.

background information

Your Money Matters  is here to help you and your family members learn more about basic financial management skills and to help you improve your level of Financial Fitness through personalized budgeting, goal setting, savings, investing, use of credit and debt, planning for major purchases, preparing for major financial challenges, risk coverage, tax planning, and retirement planning.

Contact Details:

P O BOX 10684, Gaborone
Botswana
main mall
Building 14 - Room 103
Email: finance.management6.gmail.com

Tel: 3965274

Fax: 3965273

TOPICS COVERED

• Budgeting
  
• Goal Setting
  
• Kids and Money
  
• Savings and Investing
  
• health Insurance and Retirement Planning
  
• Use of Credit & Debt
  
• Financial Planning
  
• Consumer Services, Rights & Protection
  
• Risk Coverage [ Insurance ]
  
• Major Purchase Planning [ Home/Car