FOREX Magazine

Being honest with this activity I thought I would learn many different things applied to what we
have learned during the semester, and I wasn’t wrong I got to know more than what I expected.
With all the articles I was able to recognize some of the applied theory that we have been learning
and with other things I had to make a deeper research because the financial is something rather
new for me and somehow difficult to understand when all the things we have learned get together.
One of the articles that got my attention was the one about Ins and outs of debt consolidation in
Europe and how you can use other loans to pay all your debt. I never thought about it , and it´s
something easy and more organized way. With this you can not only pay to one bank, instead of
paying to different ones, but also to recognize what kind of loans you are in and how much money
you are spending on it. To be able to make a good use of this decision of having one big loan to
pay the rest we have to be able to identify which financial provider you will use.
With other articles like ¨Couple with too much debt must learn to live within means¨ we can see
how finances aren’t only for companies. We also have to take in account that we ¨people¨ are
like a small company we generate our own money investing our time working. We have to make
our own financial statements to know where can we invest, our expenses and payments, and how
our money is being used.
The article mentions that the couple ¨ Sam and Susy ¨ they need more cash for payments and a
plan to slash interest expense. The solution was easy, analyzing where their money was going
(income) and how they can reduce expenses and create a long-term investment.
I enjoyed working on this project because I got to know more than just practice and theory but
also how this is applied to the real life. How finances are important for personal and business and
what can we do to avoid certain mistakes in the financial statements.
One small mistake can be a big problem in a company financial decision which that’s why it is
very important to be sure of what we are doing and that what we are doing is correct. Also with
our personal finances, we need to establish everything before start spending money on random
things that later can introduce us in to big debts that can we won’t be able to pay.
These articles helped us to firm up the analysis of financial terms in a practical way which was the
main purpose of this activity.
50