I am from Germany but lived in a few different places during my life. This includes France and Mexico. And then, about one year ago, I moved to Switzerland for an internship.
Next to the very obvious changes like the language, currency and not being able to drive faster than 120 km/h anywhere (hurts my little German heart a lot), there is one thing that stood out to me the most. Switzerland is really, really expensive.
It’s Money, Honey.
Maybe it is a German thing, but I was raised with the rule that you do not talk about money. Money and financial aspects are something you keep private. Upon moving to Switzerland, I realized how much of an influence high living expenses and the insecurity that comes with it can have on you. As this topic is on my mind on a daily basis and therefore causes me a lot of stress, I thought this blog was a good place to share my thoughts with you.
To help you avoid the mistakes I made and the things I learned, I listed them for you.
Disclaimer: That does in no way mean that I consider myself as some sort of a financial advisor or anything, I simply want to share my experiences with you.
- Insurance & safety fund
This one might sound very obvious but invest in insurances that matter. There are some insurances that are quite obvious, like health insurance or liability insurance.
But if you tend to break or loose things, it might make sense to invest in insurance for your technology, like Apple care in my case. Do your research on pages like comparis, to find the best deal for you.
In addition, build up a safety fund. In case something happens, most insurances ask for a deductible payment. Always have that money available on the side, so you can act in the case it is needed.
- Money Saving Apps
Money saving apps, my favorite is Monefy, help you to tract your expenses. They give you an overview on where most of your spending goes to. In my case, which also brings me to the next point, it was shockingly food and eating out.
- Bring your own
I love food. A lot. Which in my case leads me to spending a lot of money on it. If you buy groceries, cook at home and simply bring the food to work or Uni, instead of eating out. That being said, do the same for your beverages. First off, it is much better for the environment and secondly it saves you a lot of money. Some stores even give you discounts if you bring your own mug, when ordering coffee.
- Outdoor Activities
You don’t always have to go to the movies or shopping. You can also go for a walk with friends, have a picnic in the park or go chill by the lake.
Something I also do when being out with friends is tracking how much each person spends. Apps like Splitwise can help you keep track on who spent a certain amount of money and who owes whom how much.
- Don’t overdo it once you have a job – keep up that student mentality
You might ask yourself what I mean by that. Well, it means that only because you might have a more steady income you should not start to splurge. Of course a small treat here and there will probably not hurt you. But going from no money to a steady income can lead to you overdoing it. In my opinion, it makes more sense to save up that money and invest it into something more sustainable than food or fashion.
- Don’t let yourself be talked into things you can’t afford due to FOMO
FOMO stands for the “Fear Of Missing Out”. Why I brought that up? Many times I joined friends in activities that were actually way out of my budget, just because I did not want to feel left out. And in the end I mostly regretted the decision, because it hurt my bank account way too much.
My tip: tell them. If they really are your friends, they will find a way to include you.
Maybe those points will help you save some money or at least act a little more financially sustainable.
Do you have any tips you’d like to share? Let me know in the comments below or on my Instagram. ❤
