¡@

THE basic concepts of prudent financial management were mentioned in the last issue. To better understand the subject, the following is a real life case:

¡@A man who was married and had a job which provided him with a stable and sufficient income, started to gamble and before long found himself heavily in debt after losing all his savings.

¡@Luckily he decided to face reality - the first step in helping himself out of his plight. He frankly admitted his gambling problem and debts to his wife who was supportive and forgiving.

¡@They realised that he had to quit gambling in the first place to contain the situation and stop the drain on their incomes. They then reviewed their expenditures in detail and cut all unnecessary expenses. Part of their savings were kept for such contingencies as sickness and accidents. The remainder was used to repay the debts.

¡@They sat down and worked out a realistic and carefully planned monthly budget which gave them a clear picture of their financial standing. On a daily basis, they jotted down details of their expenditures and compared them with their budget.

¡@They successfully resolved the financial crises partly because they did not resort to cycle borrowing, otherwise they could have ended up with more debts and stranded in more troubles.

¡@This was not easy as the couple had to exercise a lot of self-control and persistence in following their plans. Sometimes, they had to adjust their budget when unexpected expenditures became unavoidable. It was stressful as well, so the couple shared their problem with those they trusted.

¡@The lesson to be learned? When facing financial difficulties, you should: (a) face the reality; (b) stop the drain; (c) increase your income (if possible a housewife, say, might take a full or part-time job); (d) work out a realistic budget and stick to it; (e) repay your debts as early as possible but don't adopt cycle borrowing; (f) tell your problem to someone you trust. Support from family and peers is crucial.

COMMEMORATIVE MEDALS ENQUIRIES As the Medals Unit has now been disbanded, officers who have any problems with their medals can and should directly contact: Peter Scott of the Spink & Son Company, 5 King Street, St James's, London SW1Y 6QS, England. Telephone: 0171-930-7888 Fax: 0171-839-4853

ROYAL HONG KONG POLICE ASSOCIATION(UK) Autumn Reunion 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 MOTORING CLUB The Police Motoring Club is in the process of organising the 1997 China Drive to Chiu Chow and Xiamen between Thursday 9 October and Sunday 12 October. For more details contact Chan Chun-hing, SP AI TKE.

CYBER CAFE The Cyber Cafe is now open for members daily use and enjoyment from 2 to 10pm in the basement of the Police Sports and Recreation Club.

LAND SEA AIR ARTS RECENT sales of Memorabilia Pictures by Force artist friend Roger Draper have resulted in positive contributions towards the Welfare Fund (not to mention to Roger). Now there's one last opportunity to obtain one of the few remaining unique prints. All prints of the Saxon-Saracen Duo have gone. However, a few P.L. 51 Last Launch prints (bearing the signatures of the Commissioner and two senior Marine Officers) remain priced at HK$300 each. Also, a few R.A.F. Helicopter prints remain (signed by the last Commander British Forces) at HK$500. Meanwhile, a few prints signed by all the last No.28 (AC) Squadron Crew Members remain at HK$400 each. For details contact Roger Draper: GPO BOX 70348, Kowloon Central Post Office, Hong Kong. Or phone/fax: 2338-8458.