Home' Trinidad and Tobago Guardian : November 9th 2015 Contents Guardian www.guardian.co.tt Monday, November 9, 2015
. Wh do o ppo e man familie ha e f
fe ed he fallo ?
A. The ere no prepared for he rece ion
B. The impac of rece ion i far reaching
C. The e familie ere no in con rol of heir fi-
D. The lo of program and b dge c af-
fec e er one
. Wha i he likel con eq ence of becoming ac-
c omed o deb ?
A. Taking deb for gran ed lead o poor deci-
ion making hich can re l in grea er in-
deb edne .
B. We lo e o r deci ion making po er and are
forced o deal i h he reperc ion .
C. In hor ime e become deeper and deeper
in deb .
D. We con in e o make poor deci ion .
. In he con e of hi ar icle, ha i mean b
P e en ion I he Be Medicine ?
A. Seek profe ional ad ice from a financial
B. Make i e financial deci ion
C. A oid deb
D. E abli h a goal plan for he f re
4. Crea ing a financial plan, h migh i be con id-
ered a da n ing a k?
A. The a erage per on lack he kill o prepare
B. T picall , people do no kno here o
C. E cep o o ld ha e prepared a plan be-
fore, o ma no kno ha o incl de.
D. People ma find i diffic l o commi o a
5. Paragraph 4 deb load in SIMPLE erm
A. One' le elofindeb edne
B. The amo n of deb ha alread e i
C. One' abili o repa a loan
D. The amo n of mone o o e
6. Wh i i nece ar o edi ib e o in
A. So ha o make i er financial deci ion
B. So ha o can con rol ha o pend and
ha o a e
C. So ha o do no pend more han o
D. So ha o can iden if ho o r mone i
. Wha are he benefi of a financial plan?
I. Y can e e ci e g ea e nancial c n l
II. The abili y manage deb
III. S end all f ha y ea n
IV. P vide f f e deb
8. Ho o ld o de cribe hi ar icle? A
A. In r c i e
B. Per a i e
C. Narra i e
D. Arg men a i e
9. The ri er recommend pa ing he highe in er-
e bearing loan fir , h ?
A. I eem like he mo logical approach.
B. I i he acco n hich a rac he mo in er-
C. I i he acco n hich i ea ie o repa ,
hence i i deal i h fir .
D. I i an in ere bearing acco n .
. Wha i he ke o deb repa men ?
A. Pa off all o r deb .
B. Trea deb repa men a an e en ial e pen e
C. Se le o r deb in he hor e po ible ime
D. Li e i hin o r mean .
DIRECTION Read he a age ca ef lly bef e a -
em ing he e i n . Each e i n ha f i n ,
elec he m a ia e an e ba ed n ha i
c n ained im lied in he a age.
. Wha i he MAIN heme of he poem?
B. S cce f l li ing
C. The pec acle of na re
D. Con en men
fered at the hands of this recession. We ha e all heard of the large and small businesses that ha e been affected but it
has also hit home in our local communities here budgets ha e been cut and programs lost. With all of this, man families
ha e suffered the fallout. No matter hat the scale, e ha e become accustom to debt and lost the abilit to see clearl
the consequences of un ise financial decisions and a hea debt. It s time to take a good hard look in our o n li es at
hat e can do to get back on the right track and rebuild a solid financial foundation.
PREVENTION IS THE BEST MEDICINE
E er one needs to create his o n Financial Plan. It ma sound like a daunting task but in realit it s all about planning. B
setting the time aside to discuss ith a professional ou can begin to outline our financial goals and plan for une pected
e ents that are bound to arise throughout the ears.
Unfortunatel , man people a oid the realit of the une pected and ithout an emergenc fund, the add to their debt
load ith more credit to make ends meet. This t pe of c cle can not onl be o er helming but incredibl difficult to
break. Talking ith someone ou trust can help ou make the changes into redistributing our income in a smarter a .
B taking control of ho e spend, e are controlling ho much e can sa e and this can be one of the best a s to
reduce our famil s le el of financial stress.
CREATING YOUR FINANCIAL PLAN
The e i divide all inc me in f main ca eg ie
Fi ed E en e - These are e penses that do not change, such as rent, mortgage, insurance, and ehicle pa ments.
There is seldom an change ith these e penses and the are often the lion s share of the monthl income.
Va iable E en e - This is ho e manage our li es ith food, bills, childcare, transportation, repairs, entertainment,
etc... The more e sta a a from using credit cards in this area, the more successful e ill be in the long term.
Saving - This is here e need to build a gro ing cushion to co er une pected future needs. It's important to be dis-
ciplined here. An eas a to manage this is to choose an amount as a percentage of our income. A good rule of thumb
is 0 - 20% of our monthl net income. Once the amount is decide ou must be diligent b ha ing the sa ings ithdra n
automaticall and into an account that ill earn interest ithout risk.
Deb Re aymen - This is as important as our sa ings in reco ering from a hea debt load. This includes credit cards
balances, store credits, outstanding loans, penalties and fees. Ne er pa just the minimum balance on our credit cards
and pa off the highest interest bearing loan first. When ou ha e paid do n one debt, add the e tra cash that s no
a ailable onto the ne t high interest loan and continue the pattern until ou are completel debt free.
In understanding the basics in creating a financial plan, ou are building a solid foundation that ill lea e ou less ulnerable
to the uncertainties of life. B implementing a fe ke strategies and li ing ithin our means, ou are being proacti e
and sta ing in control of our finances. And this is the ke to getting out of debt, and sta ing out.
A icle by G d and Ge ie G ide
A icle S ce h // .a icleci y.c m/a icle /family/a icle 4189. h ml
C n in ed n he ne age
I TAUGHT MYSELF TO LIVE SIMPLY AND WISELY
I taught m self to li e simpl and isel ,
to look at the sk and pra to God,
and to ander long before e ening
to tire m superfluous orries.
When the burdocks rustle in the ra ine
and the ello -red ro anberr cluster droops
I compose happ erses
about life's deca , deca and beaut .
I come back. The fluff cat
licks m palm, purrs so s eetl
and the fire flares bright
on the sa -mill turret b the lake.
Onl the cr of a stork landing on the roof
occasionall breaks the silence.
If ou knock on m door
I ma not e en hear.
by Anna Akhma va
Links Archive November 8th 2015 November 10th 2015 Navigation Previous Page Next Page