Lifestyle
What Swiss people spend their money on
03.09.2020
Current figures from the federal government show: After housing/energy, taxes and savings contributions, spending on mobility is only slightly behind the podium of the largest budget items.
According to the Federal Statistical Office, an average Swiss household (2.2 people) receives a gross income of CHF 10'033 each month. After deducting the compulsory duties such as OASI/IV, health insurance and taxes, this leaves available income CHF 7'124. Budget expert Andrea Schmid-Fischer advises: “In our consultations, taxes in particular prove to be an underestimated cost factor. Don’t forget to set aside provisions for this. It is also worth putting money aside early on for other foreseeable bills such as licence fees”. Beyond compulsory expenditures, Mr and Ms Swiss invest most of their money in living and energy (CHF 1'476), followed by travel (CHF 770) and food (CHF 632). Interestingly, meat is still the top priority when it comes to physical well-being at over CHF 130. Grilled steak, roasts and cervelats are popular.
«When it comes to clothes, shoes, hairdressing, cosmetics or food, a lot of money is often lost in an uncontrolled way»Andrea Schmid-Fischer, Budget Expert
Are we really a nation of savers?
Obviously yes, if you believe the Comparis New Year’s survey: More than half of those surveyed store a considerable part of their income in their savings account – according to federal figures, an average of CHF 1,551 per month. In return, every tenth respondent nevertheless donates to charitable organisations.
Not applicable to all by a long shot
Well, you may ask yourself: Why do everyone else have such high incomes and savings opportunities – and I don’t? The answer is simple: Beware of the statistics trap! Big-income earners push the average value upwards. In reality, six out of ten households are therefore below the above-mentioned values. Households in the lowest income bracket (< CHF 5,000 gross) are hit hard: For them, saving is practically impossible, and debts are often piled up. This leads to sad facts: More than half a million people in this country are affected by hidden poverty. The most vulnerable of them are single parents with children under the age of 18 and seniors.
Transport: Mobility saves CHF 4’000 per year
The question remains of where there is potential for savings day in day out. “People often spend an uncontrolled amount of money on clothes, shoes, haircuts, cosmetics or food,” says Andrea Schmid-Fischer. At CHF 542 each month, sport and culture beat books, clothes and shoes, which come in at CHF 211. This is topped by a whopping CHF 770 for mobility. Only CHF 122 of this is spent on the train, bus and tram, with the majority of the rest going on private cars. How a vehicle costs according to the latest calculations by TCS over CHF 10,000 per year. Budget expert Andrea Schmid-Fischer therefore straight out calls cars “money grabbers”. In her work, she notices that people cut back even on food and education in order to cover the costs of cars. “In these cases, we suggest alternatives such as Mobility, public transport or bicycle.” That pays off: CHF 4’000 can be saved if you opt for Mobility in combination with public transport. Not to mention the comprehensive peace-of-mind package with fuel, maintenance and insurance.