ICS MANUAL CONTENTS
Questionnaire: Before you
spend your money
General principles and thoughts:
saving, investing, spending
Household
Pension Plan
Retirement Tips
Properties
Training or Studying
Money and the Bible
Page 2 - 5
Page 6 - 12
Page 13
Page 14 - 15
Page 16 - 17
Page 18 - 19
Page 20
Page 21
QUESTIONNAIRE: BEFORE YOU SPEND YOUR MONEY.
“Thrift and not industry is the direct cause of the increase of capital” -
Adam Smith, Scottish National economist.
FINANCIAL TIPS
What do we really need? How important are the things that we spend our
money on? Be careful, spending money happens much quicker than saving
money! Before purchasing an item, ask yourself the following questions:
Do I really need the product?
Why do I need it? Am I buying it for status/ Am I showing off?
Compare prices: View online stores and read reviews and/or magazines that
compare products, such as:
www.readersdigest.ch/sites/www.readersdigest.ch/files/Fredy/ETB%202014%
20-%20Gesamte%20Dokumentation.pdf
QUESTIONNAIRE: BEFORE YOU SPEND YOUR MONEY.
Can I get the item second-hand? View internet sites like EBay and other
similar websites.
How often will I use the product? Work out the cost per use. i.e. A coffee
machine: How much does one cup of coffee cost? Calculate the price and ask
yourself if it’s worth it.
Are there any alternatives?
How will I pay for it? Cash/Credit (Cost, how long? Can I pay it off earlier, maybe
when I sell it), Can I buy it with others and we share it? Can I rent it out in order
to finance it? (rental charges, for example: bouncy castle, coffee machine in a
shared office space or similar.)
QUESTIONNAIRE: BEFORE YOU SPEND YOUR MONEY.
Ask yourself: Must the product be of this quality? What are the advantages or
disadvantages?
Is it necessary to buy it now or can it wait until later?
What is the reselling possibility and price?
Are there tax advantages through the investment?
AN EXAMPLE
Your family is young, with two children and one highly-
allergic baby. Miele is the best washing machine brand
worldwide and comes with a 10-year warranty and a 25-year
warranty to fix it. It is extra clean and hygienic at a hospital
level. Its cost is double to three times more than the cheaper
competitors and it therefore has a high reselling price.
Consider the possibility of buying the machine second-hand,
with a warranty.
Consider the pros and cons: Is this a necessary item to
purchase? Yes!
GENERAL PRINCIPLES AND THOUGHTS
GENERAL PRINCIPLES AND THOUGHTS
Where does God stand when it comes to your finances?
The finances that we have belong to the Kingdom of God, but we have absolute freedom to do
what we want with it. Knowing this, we also know that those who give are blessed. (Give in a
