P let’s look back 6

Financial Management
Most people agree to the opinion that sometimes 
it is not so difficult to make money but to save and 
raise it can be a real problem. Most people complain 
that they face a number of difficulties in financial 
management. W hy do many people have problems 
with this? Because most of us are not aware of rules 
in managing finance which causes problems. There 
are some general ideas to solve this question: firstly, 
do not start spending your money without planning or 
dividing it into needed categories and types. In your 
financial management plan you should thoroughly 
calculate your income for a week or a month, then 
demands where you must put money urgently.
a )__________________________________________
Henry Ford, a famous engineer and car producer, 
was grown up in a poor American farmer fam ily with 
a very small budget. Eight children had to survive 
working hard in the farm. Being an intellectual, w illing 
boy he coped with problems and took up producing 
cars: having produced the first automobile going by 
petrol Ford created a conveyer system of producing 
cars. Henry Ford paid a great attention to 
financial management by improving his 
car industry. He spent his money on 
the productive, essential processes 
in car manufacturing. His famous 
motto “ a car for everybody!” denied
the idea that only the richest people 
could own cars! Ford made out a special 
technique to produce an automobile in a 
cheaper price by decreasing amount of 
money spent on it. As a result a proper 
financial management brought him and 
his company fame. Later Henry Ford 
had become one of the richest men in the 
world as well.
b )_______________________________
Financial management can make 
one’s business sphere prosperous or 
failing. 
Appropriate, 
well-planned 
scheme may bring to success. Not only 
in business or in other occupations this 
matter is important but fam ilies also need 
a right financial management to prosper. 
For achieving this, one should be able 
to analyze income and outcome of his 
fam ily thoroughly.
c )
Financial management is a foundation 
stone of any social institution which puts 
every economic issue in order. There is 
no notion small or big financing. Sm all 
financial matters lead to bigger ones.
d)
12 
Read the definition given to the word “MEMO” and tick possible characteristics.
Be brief
Use informal style 
Be impersonal (use passive) 
Use salutary remarks 
Keep concise and to the point 
Use bullet points if necessary 
Use a short thank you to finish
Memos are written to an entire office. Memos tend 
to inform colleagues of office procedural changes 
that apply to a large group of people. They often 
provide instructions using the imperative voice. It 
has specific format and rules.

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13 Read the sample of a memo and write your own.
Memo
To: 
Jason Edgewick 
From: Abe Forte 
Date: September 12 
Subject: 
Sales Meeting
The quarterly sales meeting w ill 
be held on September 12 at the 
Radisson C ity Center. You are 
cordially invited to participate in 
the interactive planning session 
at 10:00 a.m. Your insights w ill 
be extremely valuable as the sales 
team frames the plan for the next 
year.
Please confirm your attendance 
by Friday, calling me at x5432 or 
e-mailing me at 
[e-mail].
Thanks in advance for your