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Old 20.02.2009, 17:43
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Not able to save any cash in this country - sigh

I have no idea how people are able to live on the salaries here. Im from Australia and I moved across I thought I would be swimming in cash with my 115k salary and low tax. But after living here for 6 or so months Im only saving around 1000 a mth.. if that! HR in the company I work for accidently sent me the salaries of my coworks (handy) and they're earning slightly more that I am - around 2k per year, yet they are buying a house, have 2 cars and 3 kids! I have a new kid, rent is low (1600chf/m), a tiny car, rarly go out and it just seems impossible to save for a house here and pay it off. Am I missing out on something? Is there some amazing thing that people arent telling me?
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Old 20.02.2009, 17:50
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Re: Not able to save any cash in this country - sigh

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Is there some amazing thing that people arent telling me?
Frankly, most I know have a helping hand from 'Daddy'.

Eat, drink and be merry, you never know what's around the corner
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Old 20.02.2009, 17:51
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Re: Not able to save any cash in this country - sigh

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I have no idea how people are able to live on the salaries here. Im from Australia and I moved across I thought I would be swimming in cash with my 115k salary and low tax. But after living here for 6 or so months Im only saving around 1000 a mth.. if that! HR in the company I work for accidently sent me the salaries of my coworks (handy) and they're earning slightly more that I am - around 2k per year, yet they are buying a house, have 2 cars and 3 kids! I have a new kid, rent is low (1600chf/m), a tiny car, rarly go out and it just seems impossible to save for a house here and pay it off. Am I missing out on something? Is there some amazing thing that people arent telling me?

Salary less than 120kCHF will be one thing. If you earn more than 120kCHF you will have to make a tax return and then all manner of things are deductable.

your co-workers could have any number of possible reasons for having the 'exuberant' life styles. get past it and move on.

bill
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Old 20.02.2009, 17:52
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Re: Not able to save any cash in this country - sigh

well first tip is no one ever pays there house off here 1000frcs a month is a good saving if you ask me

Have you checked if you are paying to much insurance e.t.c shop around to see if you can find anything cheaper

How many times are you ringing back home, i spend alot of money ringing back home, i am waiting for everyone to get on skype so it is free to talk and see each other
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Old 20.02.2009, 17:54
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Re: Not able to save any cash in this country - sigh

Oh maybe I should have said that I am married and have a kid.

And when I said 'swimming in cash' perhaps I should have said an occasional bath.
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Old 20.02.2009, 17:59
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Re: Not able to save any cash in this country - sigh

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Have you checked if you are paying to much insurance e.t.c shop around to see if you can find anything cheaper
Yeah I need to do that.. i did shop around when I arrived but erred on the side of caution and took what HR recommended.


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How many times are you ringing back home, i spend alot of money ringing back home, i am waiting for everyone to get on skype so it is free to talk and see each other
My phone bills end up being around 6chf a month (voip) and I dont have line rental as my internet is via cable.

Yeah, I know I shouldnt worry about it too much but I wouldnt mind owning more than an ipod and a couple of socks one day. I didnt really mind so much in the past that but now that I have a kid.. well.. Im thinking more about the future now. I am in my early 30's so it's time to grow up right?
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Old 20.02.2009, 18:02
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Re: Not able to save any cash in this country - sigh

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Oh maybe I should I am married so I am supporting 3 people including myself.
I think there is a lot to be said for living with a someone for a few years before settling down and having kids. You can most probably manage on one salary (as you are doing now) putting the other almost completely into savings. If you were managing to save say 50,000 a year that way, for 5 years, you've got quarter of a million to put down on your place, plus anything from the pension that you can contribute towards it too. Not to mention the hand outs from daddy...
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Old 20.02.2009, 18:03
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Re: Not able to save any cash in this country - sigh

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How many times are you ringing back home, i spend alot of money ringing back home, i am waiting for everyone to get on skype so it is free to talk and see each other
You already have Skype which is good. Now you need to get a Skype-in London/UK personal number (~ 10CHF a month) which means that friends and family call you as if you were still in the UK. Skype also gives you unlimited UK landline calls so you are talking to all your UK friends for free on their BT phones.

I have one of these Skype cordless phones so everything is handled without a computer.. its pretty nifty.
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Old 20.02.2009, 18:04
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Re: Not able to save any cash in this country - sigh

Once upon a time people were getting six figure bonuses, 13th month salaries and all manner of benefits. If you missed that bubble, you'll still be paying your credit cards and owning half of nuppence.

Me too
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Old 20.02.2009, 18:19
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Re: Not able to save any cash in this country - sigh

How much do you spend each month on eating out, take away food and entertainment? How much do you spend on groceries per month? How much cash do you take out each month? Look at your previous bank statements and see where your money is going.

Your salary is enough to save more than you currently are - it's your spending that's the problem.
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Old 20.02.2009, 20:02
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Re: Not able to save any cash in this country - sigh

Well I can relate to that as I signed the contract from SA a year ago and thought I would settle down on triple salary as back home. Illusion bubble quickly burst as I have to spend it relative to cost of living that means on avarage I am same or worse off than in South Africa, because I cannot go out as often as I wish and my hobbies cost me much more here. I dont drive a car here because I don not see any use of it with good public transport at hand. I cannot buy the house and if I plan to stay here it seems like it's a wishful thinking before I will be able to afford one. In a matter of fact I will be desitned to rent a place till rest of my life here if I plan to stay (luckily I think about investing in property overseas which keeps me going). Just enjoy saving CHF1000 per month, squeeze it wherever you can and try to save more. As you settle down more and get some advices here and there you might be able to save few CH on this and that. That's all I can advice for now.
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Old 20.02.2009, 20:33
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Re: Not able to save any cash in this country - sigh

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You already have Skype which is good. Now you need to get a Skype-in London/UK personal number (~ 10CHF a month) which means that friends and family call you as if you were still in the UK. Skype also gives you unlimited UK landline calls so you are talking to all your UK friends for free on their BT phones.

I have one of these Skype cordless phones so everything is handled without a computer.. its pretty nifty.
He's Australian, he has no friends in the UK
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Old 20.02.2009, 20:36
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Re: Not able to save any cash in this country - sigh

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He's Australian, he has no friends in the UK
Have you tried www.voipstunt.com? They also offer charge free connections to the UK and other countries.
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Old 20.02.2009, 20:54
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Re: Not able to save any cash in this country - sigh

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I have no idea how people are able to live on the salaries here. Im from Australia and I moved across I thought I would be swimming in cash with my 115k salary and low tax. But after living here for 6 or so months Im only saving around 1000 a mth.. if that! HR in the company I work for accidently sent me the salaries of my coworks (handy) and they're earning slightly more that I am - around 2k per year, yet they are buying a house, have 2 cars and 3 kids! I have a new kid, rent is low (1600chf/m), a tiny car, rarly go out and it just seems impossible to save for a house here and pay it off. Am I missing out on something? Is there some amazing thing that people arent telling me?
You need to create a breakdown on what you are spending your money on and how much and see where you can make savings.
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Old 20.02.2009, 21:02
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Re: Not able to save any cash in this country - sigh

poor you! I can not even imagin to earn so much! I would suggest that you need to rethink your spendings.
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Old 20.02.2009, 21:04
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Re: Not able to save any cash in this country - sigh

It takes a while to change the lifestyle around - I'm the 'housefrau' and we don't eat out, at all, with our kids...we live basic.

We are paying out 25K+ on school fees, similar rent to you, and hope to come out 'in front' this month and start putting aside 500chf a month in savings...It'll take a big effort to do that - we eat basic, shop basic and live basic, and no car... with three kids...our grocery bills are about 250chf a week total, and our health insurance is 800chf. We get 150chf approx per child per month 'rebate' on salary...

Hobbies - none that cost money, the local library is free and has a good basic collection of DVD's...we probably do a day trip once a month and that costs us about 150chf. When we go out we go past the local denner and get chocolate UHT milk, bananas, bread, rice crackers, cheese and a packet of meat and some veges and that's our food for the day...

On the one hand, I don't think people who have mortgages here are necessarily 'in front' - and if they are young in particular, it's quite likely a lifestyle 'on credit' - we have friends and family in Australia who are similar, the appearance of money where there is little or none - I am content that if we sold everything we had, we'd cover our current debt, and the only money we owe is from our family who are happy to loan us 'interest free'...my dad calls it 'living within your means'...it's a challenge, but it's necessary...you can't spend money you don't have...for long...

As others have said, there is a total 'myth' that more money = more wealthy...it's all about expenditure, not income...
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Old 20.02.2009, 21:58
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Re: Not able to save any cash in this country - sigh

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I have no idea how people are able to live on the salaries here. Im from Australia and I moved across I thought I would be swimming in cash with my 115k salary and low tax. But after living here for 6 or so months Im only saving around 1000 a mth.. if that! HR in the company I work for accidently sent me the salaries of my coworks (handy) and they're earning slightly more that I am - around 2k per year, yet they are buying a house, have 2 cars and 3 kids! I have a new kid, rent is low (1600chf/m), a tiny car, rarly go out and it just seems impossible to save for a house here and pay it off. Am I missing out on something? Is there some amazing thing that people arent telling me?
Swissaholic hi,

please don't forget that you have not been here all that long and are still in the throes of getting settled in here, that took/takes money.
You now also have a baby!! Those little critters are (especially the first one) really, really expensive to maintain and provide for!!
Yep, being responsible costs, but in time, as you get more familiar with where/what and how to make the most from your "SFs" after having got over the initial outlay for the move and being a family, I'm sure you will be able to balance things out better.

I'm 100% sure you'll start feeling back on top in another half year or so, just don't stress about it right now, you'll be fine, you'll see.

Ros
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Old 20.02.2009, 22:16
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Re: Not able to save any cash in this country - sigh

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poor you! I can not even imagin to earn so much! I would suggest that you need to rethink your spendings.
My first thoughts were the same, until I remembered that:
  • I am a bachelor, with no commitments to anyone other than myself;
  • Being a sarcastic ****** isn't really going to help the OP solve his cashflow problem.
To the OP: I'm with the other posters: It's not a bad salary at all - much more than many other members of the forum are living on, even those with families - so it would seem that the problem is one of expenditure.

It might be worth actually writing down your income and expenses on a balance sheet to see where the problem areas lie. You might have some surprises, and be able to cut down somewhere or other.

Not that a profligate single gentleman-about-town such as me should be offering advice, but I've been in financial dire straits before, and keeping a record certainly helped me.

Good luck, anyway! As another poster said, wealth isn't just about money coming in - it's where it goes afterwards that makes the difference.
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Old 20.02.2009, 22:25
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Re: Not able to save any cash in this country - sigh

Oh my man, dog and me live on my 50k salary...and we are doing fine, not greatly but fine and that's all i ask for now. I do go out and have a drink here and there but i don't want to spend much anyway, i don't need to.

I get to ski and eat and pay for insurance (and my man's and dog) and housing and i don't save much but i do send some money back home every month.

Maybe you need to re-think your spenditure.
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Old 21.02.2009, 06:28
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Re: Not able to save any cash in this country - sigh

Be glad you are saving something. Go with the other posters advice. Have a good look at your expenditure. We are currently on a a lower single income than yourself. After rent, Creche bills, health insurance and tax there is not much left.

The heath insurance is a biggie. Use www.comparis.ch to see if you can get much better deal whilst not downing your coverage too much. It's in English and it is worth the struggle.

Usually you can only switch at the end of the year November I think. Still you can see how much you can save next year. We switched last year and got similar coverage and saved 500 francs.

There is also the obvious things like Migros Cumulus and Coop's supercard schemes for getting points on your purchases. We are a family of three and with what we spend in Migros over three months, we get back the equivilent of one weeks shopping in vouchers. Just a note do not spend these vouchers on 10 times the points events as anything paid for by vouchers does not accumulate points. Migros catches out a lot of people that way as they send the vouchers out just before they have 10x the points events.
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