Managing Your Finances (4)
THE success of financial
management lies upon proper planning. "Spending within the limits of income" and
"saving for rainy days" are two crucial elements in formulating personal financial
plans. A lot of trouble can be avoided by controlling expenditure and planning
for future financial needs.
ˇ@In drawing up a budget, you have to discuss with your "living partners"
prioritising the use of household incomes and getting their full support. "Living
partners" refer to the people who may affect your budget. They may be your
spouse, your parents and your children.
ˇ@The budget should be a balance between immediate, short term and
long term financial needs. Immediate financial needs are, for example, daily
necessities such as food and transportation. Short term financial needs include
such expenditures as payment of tax, children's education and vacations.
Long term financial needs refer to such future expenditures as home
purchase, children's tertiary education and expenditure after retirement.
ˇ@Immediate, short term and long term financial needs should be clearly
listed in your budget. Under normal circumstances you should keep your
expenses within 75 per cent of total household incomes and set aside the rest
as savings to cater for short term financial needs and as a cash reserve for
contingency such as accident and medical expenses.
ˇ@Set a reasonable limit on social and entertainment expenses and include
the tax payment in the short term financial needs. You are strongly advised to
join the "Pay As You Earn" Scheme which solves tax obligations instantly.
ˇ@When a proper family budget has been formulated, you should
implement it hand-in-hand with your living partners. But that is not the end
of it. Incomes and expenses should be recorded on a daily basis, while the
budget should be regularly reviewed and adjusted when necessary. Doing
so will provide financial protection and gradually raise your living standard.
ˇ@Read The Principles of Family Budgetting, a booklet issued by the
Personnel Services Branch of the Force.
TRAINING/WORKOUT AT POC
UI # ___________________________
Improvers (Mon & Fri training programme)
Advanced (Tues & Thurs training programme)
Phone: Mark Sharp: 2591-1930
FORCE holiday bungalow
accommodation is available from Sept 10 to Oct 31 for Gazetted and Inspectorate
officers and their civilian counterparts as follows:
Hoi Fu Fa Yuen in Macau, Sept 10-30, Oct 1-17, 20-31
Casa Peral Terrace in Macau, Sept 10-30, Oct 1-31
Casa Sagre in Macau, Oct 1-17, 20-31
Golden Peak Building in Macau, Sept 10-21, 23-30, Oct 1-31
Ham Tin 10 1/F in Pui O, Sept 14-20, 23-29, Oct 5-9, 12-29
ˇ@Accommodation after Nov 10, 1997 will be allocated by ballot. For
reservations, apply to Personnel Services Branch Holiday Facilities Unit at
2804-1135. Applicants please use the new application forms (Rev 94).
You cannot apply for more than one bungalow during the same period.
ˇ@The following hotels are offering accommodation at reduced rates for Force members:
Mandarin Oriental Macau (2800-7338)
New Century Hotel Macau (2581-9863)
New World Emperor Hotel Macau (2731-3488)
Hotel Sintra (2546-6944)
Holiday Inn Macau (2800-5646)
Hotel Ritz Macau (2739-9928)
Forum Hotel Shenzhen (2866-7699)
Gold Coast Hotel (2452-8888)
ˇ@Interested colleagues should obtain a letter of introduction from the Personnel
Services Branch Holiday Facilities Unit and contact the hotels directly for reservations.
POLICE OFFICERS CLUB FOOD AND BEVERAGE
Mid Autumn Festival Special Set Meal (for 12 people) $2,580. Dance Night Special
Set Meal (for 12 people) $1,997.
TANG SIU KING HALL
Monthly new dim sum varieties. New set meal for 12 which at $2,680 includes
complimentary bottle of XO for every table. Chinese Wedding Package - $4,380
Chinese lunch buffet on Sundays for $58 per person. Thai or S/East Asian lunch
buffet for only $80 per person including one free drink on Fridays .
Homemade pizza promotion.
Holstein beer promotion (September)
ROYAL HONG KONG POLICE ASSOCIATION(UK)
To be held at the Regent Hotel, Royal Leamington Spa from 26 to 28 September.
Weekend includes: dinner, bed and breakfast. Any Hong Kong member wishing to
attend these events should contact Sylvia Mansell as soon as possible by telephone/fax
01233-720006, or E-Mail: Sylvia@Kimhouse.demon.co.uk. For more details contact
Hong Kong representative Mac McLoughlin: 2828-7501.
Police Night 1997
The annual spectacular, formerly known as Beating Retreat, will be held at PTS
on 13 and 15 November.
ˇ@The Singapore Police Band will display in the performances. The 62-man
silver band has achieved renown not only at home but also overseas.
ˇ@Other Highlights will include the PTU and SDU adding splashes of colour
and excitement to the entertainment.
ˇ@Tickets this year will cost $70, $85 and $100 and include a cocktail
reception following the performance.
|Insurance Plans Gets|
The new Policy Safety Protector insurance plan was launched on 28 August.
Since then, about 250 police officers have called the company asking about the
scheme. Following are some of the most commonly asked questions:
Q: How do I join the new Police Safety Protector insurance plan?
A: Brochures are available at police stations, or you can call American
International Underwriters hotline: 2832 -1598
Q: Does the Police Safety Protector cover any losses while on duty?
A: Yes, the coverage is effective while you are on or off-duty, with 24 hours
worldwide coverage. Moreover, a free on duty cover of HK$100,000 has been
added in the new scheme.
Q: Does the coverage continue after leaving the Police?
A: Yes, you can still enjoy this privileged coverage up to 65 years age provided
you send written notification to AIU prior to your resignation.
Q: Does the coverage include private and government hospital expenses?
A: Yes. The new scheme provides flexible hospitalisation benefits to cater
for both private and government hospital expenses.
Q: Can I extend the coverage to my spouse and children?
A: Yes, you can extend the coverage to your spouse and children by selecting
the family coverage.
Q: Do I need medical examination?
A: No medical examination needed.
Q: How can I change my existing coverage to the new plan?
A: Just apply for the new plan, your old plan will be cancelled on the same day
that the new scheme becomes effective. For more details call the AIU hotline: 2832-1749.
Q: How can I join the new programme?
A: Simply complete the application form, the direct debit authorisation form,
include a three-month's premium cheque and return to AIU.
If you are an existing policyholder and have changed your address recently without
written notification to AIU, please contact AIU at 2832-1598 to update your personal