Saturday, September 16, 2006
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(sorry for the delay cassie ! :)
Define and Manage Problem:
Case 2 Divorced single working mother with two children in secondary school
Sabrina works in two jobs to earn $1200 to sustain her family. She has two sons, one studying in ITE and the other in a secondary school doing normal technical course.
Facts:
Her younger son had trouble with the law when he was caught for stealing handphone and selling it so that he could buy things. Sabrina was only working in a day job at that time. Since then, with help from social workers, she had found another evening job in a factory.
Her son had realized his wrong doing and had turned over a new leaf since getting caught.
Problem
-Living hand-to-mouth
-In her circumstances, she cannot save [insert mental picture of money flying away]
Solutions
-Work on her niche e.g. if she can cook well, can apply for hawker centre job?!
-Live simply
-Go for skills upgrading courses so as to get higher paying jobs
-Force husband to pay a higher alimony
-Put money (saved) in bank and collect interest
-Beg employers for a pay rise
-Speed dating?/ Remarriage
-Sons to study hard and get scholarships/bursary
-Savings plan so as to have extra funds
-Ask schools for financial assistance regarding school fees etc
-Ask sons to be gigolos
-Sell organs/blood
-Busk/Beg/Rob banks/Continue stealing handphones
-Sell sons to orphanage
-Ask sons to get part-time jobs
-Join reality shows e.g. Amazing Race, Fear Factor, Survivor
-Take up insurance plans and fake death/hire someone to murder herself
-Pluck out teeth and wait for the tooth fairy( Swati's retort: If the tooth fairy only gives $1 per tooth the maximum amount received is $96 since each adult has 32 teeth not withstanding mutations)
Conclusions:
1. Financial literacy is so boring it drives you crazy. HAHA . actually it's interesting and i quite like it.
2. Selene, Aiwen, Mandy, Germaine, Cassie and I are the best, smartest, most creative financial planners on the universe. IMF should hire us.
3. Refer to this post if you ever run into financial trouble! At least 1 solution will be of help (:
CANDICE! â¥
5:04 PM
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