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Skip to content In this post you will learn how to in Switzerland up to CHF Save 9'290 per year can!
The Cost of living in Switzerland are not exactly low, even though salaries are higher than in many surrounding countries. A typical danger, however, is the Consumer behaviour constantly increase with increasing salary, which in the end leads to the Fortune melts away.
Here you will find the best savings tips Switzerland 2024so that you can effectively save money and still No restrictions in the quality of life you did!
You can save around CHF 800 per yearyou should Compare and reconsider insurance policies. In the end, your insurance policies must always fit your personal risk tolerance. If your parents are rather anxious (no offence intended - they may have experienced this in the post-war period), this does not mean that you have to be anxious too.
If you don't only see dangers, why do you have insurance against a loss that is more improbable to you than winning the lottery?
One of the best "Saving Tips Switzerland" is, reconsider unnecessary insurances and to terminate if necessary.
Insurances that you absolutely need are:
But you should also do the same with your monitor expensesFor example, to see if your medical costs are very high every year. In such a case, it could be worthwhile to reduce the deductible rate and ultimately save money.
To keep track of your spending, it's a good idea to have a Budget book app or a 6 accounts Model. These tips will help you keep your expenses under control, which can be an important issue for pensioners in particular.
Feel free to guess your answer in the comments: How much money does a pensioner in Switzerland need?
This is where the opinions differ, because while some people spend hundreds of francs every month on mobile phones, Netflix and the Internet, others live a minimalist life. The total cost of your entertainment contracts per month is less than CHF 100? Then you do everything right and you can this chapter of the savings tips Switzerland probably skip
You want to reduce your expenses and save some money Switzerland-wide? Here are a few approaches to how Swiss people can live frugally without having to sacrifice luxury:
Your key to success! Discover our top recommendations from real testimonials.
Saving taxes can be quite easy in Switzerland! Especially in comparison with our neighboring countries, our government offers us some legal opportunities here, which we should also use. Left-oriented often think this is not okay, but it is even wanted by the federal government. After all, our good is the good of the community.
3 Financial Tips Switzerland to Save Taxes in Switzerland:
Every month it repeats itself: Salary arrives, rent and insurance are debited. The fridge is filled and the account is empty again. If you only work with one account, you shouldn't be surprised!
Saving money in the household is very easy with the 3-account model. To avoid the problem described above, I recommend the following procedure:
Hardly anything is as expensive in Switzerland as housing. Therefore, the topic of housing cannot be missing from our list of money-saving tips throughout Switzerland.
You live in an expensive area like Zurich, but moving is not an option for you? Here are 3 tips to help you save money on your rent:
If you are reading this, you are already an investor or would like to become one. In short: I'm proud of you! 🙂 In order to prevent high fees from reducing your investment success, you should keep an eye on them.
Account fees are also not to be neglected! Kassensturz and Moneyland have uncovered many hidden fees and conducted an investigation. Their Recommendation for the cheapest Swiss account coincides with ours.
Saving in Switzerland is not always easy, but it is possible with the right approach.
There are countless more tips on how to save money in Switzerland, but with these basics we believe you can save up to CHF 9'290 per year.
With the 3-account model and a household book app, you can certainly already make a lot of positive changes. We would be very interested to know how much you can save without having to sacrifice enjoyment!
Feel free to leave us a comment with your best tips for saving money in everyday life nationwide 🙂
"Intelligent people learn from the mistakes of others".
We have compiled our top selection for you from all our tests and experience reports:
24 Responses
Interesting the principle of the 3 accounts but... What is actually consumption and what is subsistence? A ticket to Zurich is consumption? A pair of new shoes that I need because the old ones are too old? It would be almost impossible for me to live a "normal" life if I would donate only 10% of my salary in "consumption". Although I don't like to spend money (eating out...) and I try to avoid it if possible (I prefer to eat at home).
What is livelihood? What is consumption? Let's write a list! 😀
Hello Luca,
Consumption for me personally are really only "unnecessary" fun expenses. Take food, for example: For me, basic foodstuffs are not a luxury and therefore do not count as consumption. The 7-course dinner in a star restaurant, on the other hand, does.
Just keep in mind that the numbers are purely as a rule of thumb and you should always look at your own situation 🙂
Hello Eric
Thank you for your answer. And once you have looked at your own situation, how can you set numbers (percentages)?
For this I would like to have a Budget and also look at your own goals. Once you know where you currently stand and where you want to "go", you can set appropriate savings rates.
Here's another Article to that.
Got two more tips 🙂
Netflix, Spotify, YouTube Red, etc., for example, can be solved via a VPN in Turkey or Argentina. This makes the subscriptions even cheaper.
Online shopping should be combined with cashback and get cash back for every purchase. For example with https://monerio.ch there are 1,200 partner shops such as MediaMarkt, SBB, Manor, ...
thanks for your tips! Cashbacks gibts eg also about Shooop 🙂
Hello namesake Eric
Found the post very interesting and also learned new gl!
My question would be as an apprentice is this fun account worth it? I also already have my account with Zak and would be interested to know how you use Zak, i.e. what sub-accounts you have. If you can recommend some tips for saving with Zak or in general that would make me very happy. 🙂
Hello Eric
Thank you for your message!
Before my studies I also did an apprenticeship and therefore know your situation well. I would say: Yes, definitely!
When I earned my first money at 16, I basically went from 0 to 100. Before that, I had no pocket money, nothing. Then all of a sudden, there was a fixed salary! What happened? The first 2-3 months, I had spent everything after about 2-3 weeks 😀
Then came the learning curve...
You're certainly further along than I was back then, or you wouldn't be here 🙂
It motivates me to have money in the fun account. Further, it disciplines you in spending. You'll find that it's easy to spend more and more money as your salary increases. However, once you learn a healthy way of handling money, it eventually becomes easier and easier.
Personally, I'm not a frugalist, I like to spend money - even for fun. However, I don't neglect investments; they always go to the side first. However, you are free to define for yourself how high your savings rate should be.
My accounts:
- – Expenditure (rent, food, ...)
- – Fun (New bike, vacation ... )
- – "F*ck You Money" Savings (Emergency Cash Buffer: Enough for me to live without income for about 6 months. But is already full and therefore remains unchanged)
- – Investment account (Goes on to different accounts where I then buy ETFs, stocks and say Cryptos).
This is just my classification. Doesn't have to be done this way, nor is it meant to be a recommendation. 🙂
Greetings!
Good contribution! If the neon account is the pay account, where do you have the fun account? Lg
Hello, Christoph,
thank you for your positive feedback!
An account or a bank must of course always fit your personal needs. I can recommend neon and if you still need an account, just take a look at the savings pots Zak Bank Cler Field Report 2020. So you can open even more "sub-accounts" and this free of charge.
Many greetings!
Hello Eric
Check this out 🙂 Thanks for your feedback. Do you deduct the 10% for the fun account after all deductions (health insurance, insurance, subscriptions, etc.) or from the incoming salary? Interesting strategy - I always catch myself spending way too much for small expenses which then accumulates.... LG Christoph
very gladly 🙂
With the 3 account strategy, all necessary deductions are made directly from the salary account. Then it is actually called "pay yourself first" so pay yourself first. This means investing in yourself. It is therefore a good idea to fill your investment account directly (preferably automatically by standing order). The more the better, but the fun should not be forgotten, which is why you may also fill this account or then spend. Ideally, however, the fun account last, so that the long-term pension or other financial goals are not forgotten.
You can create a budget for yourself and see what is feasible. From my own experience I can tell you that you can put much more aside than you think... 🙂 I enjoy spending this way even more, because I make it more conscious and not just consume senselessly.
Many greetings!
Hi Eric
All right, thanks! I just opened an account with Selma yesterday and am slowly starting to invest. Starting with CHF 2'000 with a planned 500 investment per month.
How are you doing with the other savings accounts? As an example to our situation: 1 household account for meals etc., 1 savings account for holidays and other, 1 savings account for taxes, 1x 3a each (½ of which invests in securities via ZKB). All this with the ZKB. Would you leave it as it is in terms of saving, or could the holiday/tax savings account also be invested? However, the amounts there are always +- 0 at the end of the year.
Yours sincerely
I have written an e-mail to you about this 🙂 LG
Your mail would have interested me too 😉 No seriously. We inherited something (low 6 figures) and I'd like to invest it in such a way that I get something out of it every year (e.g. to top up our family holiday money). I think at least 2% should be in there right?
In all "Investors" (including Selma) where I have informed myself, it is recommended to leave the interest in, because of the compound interest effect.
Where/how can I invest my money so that I can "automatically" withdraw some from the profits each year (preferably without excessive additional fees)?
I would be very grateful for your support. I would also be happy to provide more information in person. Thank you very much.
Hi Manu, there still seem to be a few things unclear here. Make me gladly a mail to info@Schwiizerfranke.com if you like 🙂
Hello.
To which account does the pillar 3a account belong?
Thanks for the contribution 🙂
Hi Mario
in Switzerland, retirement provision is based on the 3-pillar principle:
1st pillar AHV: State pension scheme
2nd pillar occupational pension plan
3rd pillar private pension plan (voluntary: 3a and 3b)
Since Pillar 3a is voluntary, you can choose where (with which provider) you want to arrange your pension provision. Viac or Frankly are examples, but there are numerous other providers.
I hope I understood your question correctly and could help you!
A very successful contribution. I have to test the three-account principle.
Yes, absolutely! You can still customize it to your personal needs. With me, for example, the savings rate looks higher. The important thing is that you consciously put money aside every month to invest it for retirement and other goals. Best regards!
Hi, thanks for the contribution. It was really fun to read, I'd love to read more 🙂
Thank you, Gail.
Increase the franchise in case of high medical costs? Isn't it rather the other way round - and the rule a bit too simple?
Hey Leonardo, of course you're right - there had been a mistake here 🙂 Thanks for the hint! And yes- the rule is of course much too simple. To deal with all suggestions in their depth one would have to write several books. The article should make you think about it and if you realize that your insurances should be optimized, you can go into the topic from this point 🙂 LG Eric