The purchasing power of Swiss people has continued to decline over the past two years. In this tense climate, is it still possible to save? Le Point J asked the question to a savings specialist, Judith Granat, director at Retraites Populaires.
“There are several obstacles to saving. On the one hand, overconsumption, we do not realize the money we spend,” explains Judith Granat, “on the other hand, many people do not can’t save because they don’t budget.”
First tip from the director for saving: write down all your expenses and income in a monthly budget. She then recommends respecting the 50-30-20 rule. 50 percent of our expenses constitute obligatory expenses that cannot be reduced; 30 percent is dedicated to leisure; and finally, the remaining twenty percent should be spared.
Building up savings is a long-term job
In this Point J, personal finance content creator Janice Kerschbaumer also presents her “coach your budget” method.
How can we reduce our compulsory expenses, what type of 3rd pillar should we favor or where to invest our money?
>> Listen to the Point J episode:
Joëlle Cachin and the Point J team
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