This is a third in set of Reading comprehension to practice your English comprehension for competitive examinations.
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Here goes the passage, please read it carefully,
We are constantly on a lookout for a plan which can eradicate our problems or provide instant solutions. Financial planning appears as one such magic wand. However, people fail to realize that financial planning can only assist you with your monetary concerns. It is implementation of finance control that will ease your problems.
If you are one of those ‘shopaholics’ who think that a credit card is a ‘mystery device’ which enables you to ‘eat first and pay later’, then think again. A credit card only increases your urge to splurge. Financial planning means that you need to inculcate self-discipline in yourself towards the way you treat money. Financial planning should give you a clear idea in advance, about the surplus funds you can use when you want to satisfy the shopaholic in yourself.
Another aspect of financial planning is to set aside a certain amount towards health ailments. But many put their faith in insurance or health schemes that guarantee refund of your medical expenses. When the time comes, they realize that these schemes take care of only the doctor’s bills and not the hospital bills. Instead, you should invest in health schemes that take care of your good health and not the consequences of your bad health.
Q1. This passage is about …….
(i) How financial planning provides solutions to your problems.
(ii) How financial planning creates surplus funds which you can use to shop.
(iii) The need to inculcate self-discipline in the way you treat money.
Q2. What is the difference between financial planning and financial control?
Q3. What is the basis of financial planning for one’s health?
Q4. Are health insurance schemes a sound solution for unexpected medical expenses?
Q5. Explain, “Health schemes should take care of your good health and not the consequences of bad health.”
Q6. Name one word from the passage that means:
(i) A compulsive shopper
(ii) A magical stick to give instant results.
Q7. Do as directed:
(i) These schemes take care of only the doctor’s bill and not the hospital bills. (change the voice)
(ii) You need to inculcate self discipline in yourself towards the way you treat money. (make it interrogative)
A1. This passage is about the need to inculcate self-discipline in the way you treat money.
A2. Financial planning gives you an idea of the surplus funds you can use. Financial control is the self discipline towards easy spending.
A3. To set aside a certain amount towards health ailments.
A4. No, health insurances are not a sound solution to medical expenses because these schemes only take care of the doctor’s bills and medicines and not the hospital bills.
A5. Health schemes should charge money for ensuring good health like paying for periodical check-ups. It should not cover the medical expenses only after hospitalization.
A6. (i) Shopaholic
(ii) Magic wand
A7. (i) Only the doctor’s bill and not the hospital bills are taken care of by the schemes.
(ii) Shouldn’t you inculcate self discipline in yourself towards the way you treat money?
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