Budgeting Flashcards
1
Q
What should be excluded from debt review:
A
- Life insurance
- Rentals
- Short term insurance
- Pension backed loans
2
Q
When should a home loan be included
A
- Applicant is main payer
- Sole owner
3
Q
When should student loan be included
A
- Studies completed
- Loan directly from bank
4
Q
What is it called when rehab is increasingly yearly to ensure repayment
A
Annual Escalations
5
Q
On what accounts do we always offer 80%
A
Vehicles
Home loans
IEMAS accounts
6
Q
When was a task team set up to identify blockages
A
2010
7
Q
Comment on rental expenses
A
- Possible to go cheaper
- Move closer to work
8
Q
Comment on private education
A
- Consider less expensive ed.
- Apply for subsidized or exempted school fees
9
Q
Comment on landline/cellphone
A
Multiple not necessary
Switch to less expensive contract
10
Q
Comment on tobacco/cigarettes
A
Reduce but not suspend
11
Q
Comment on DSTV
A
Downscale contract
12
Q
Entertainment
A
Reduce substantially
13
Q
Groceries min and max budget
A
R800-R1500
14
Q
Cellphone min and max budget
A
R100-R500
15
Q
Bank charges min and max budget
A
R50-R300
