We all spend money in day-to-day life on things that are unnecessarily expensive: food, accommodation, fees and insurance policies. There’s often nothing left over at the end of the month. That’s why putting money aside regularly over a long period of time is worthwhile. Not only will this allow you to live less expensively but also to turn long-cherished dreams into reality. We provide you with simple tips and highlight ways in which you can save effectively. This will help turn your dreams into reality.
Advice on saving – the best savings tips
How can you ensure you can always set some money aside at the end of each month? Our savings tips will help you to put money away for the things that really matter to you.
Find the savings solution that suits you best
Before trying to save large amounts of money over a short period of time, work out a budget. Here you’ll find straightforward guidance on how to go about it. Your budget allows you to keep track of your outgoings each month. It also helps to take a quick look at your balance on your mobile phone in the store before making a big purchase. In your app you can check your current account balance and most recent transactions – and avoid impulse purchases as a result.
Save small amounts regularly
Set up a standing order to transfer money from your private account to a savings or e-savings account. It’s much better to transfer smaller amounts regularly than large amounts on the odd occasion. The best time to transfer the money is shortly after your salary is paid. It is also a good idea to use the notifications service on your mobile phone. It’s easy to set up the notifications you need in e-finance or in the PostFinance App. They will allow you to stay up to date with your finances at all times. You will then receive notifications via push message, SMS or e-mail, depending on your preference.
Save when shopping by rounding up
This allows you to save every time you make a purchase. And not just thanks to the lowest prices. Use the PostFinance Card’s e-moneybox function. This rounds payments up to the nearest franc or CHF 10 when making purchases. Arrange for the rounding difference to be transferred to your savings or e-savings.
Save with your retirement planning
Saving money is also a way of providing for the future. With the fixed pension plan (pillar 3a), you benefit in two ways: by making regular payments into a retirement savings account 3a or into a life insurance 3a plan, you provide for old age while also enjoying various tax benefits. The retirement fund especially designed for retirement planning also allows you to take advantage of the opportunities of the stock market.
Accrue assets with securities
You don’t have to leave your money in a savings account. There are more attractive alternatives offering higher returns, especially if you’re looking to make a long-term investment. A funds saving plan means you benefit from the performance of the financial markets. You systematically build up your assets by making regular payments. You also benefit from the The link will open in a new window cost averaging effect: When prices are high, fewer fund units are purchased but more are acquired when they are low. This pays off over the longer term.
Start early and keep going for as long as possible
The longer the period over which you save, the greater the increase in the impact of the The link will open in a new window compound interest effect each year. This means the later years generate the greatest return. The compound interest effect comes into play when the interest on the interest paid is added to the savings capital and the higher amount then bears further interest. The compound interest effect is small with the currently low interest paid on savings accounts. Here it’s worth considering alternatives, such as a funds saving plan, if you have a long-term investment horizon.
Saving for a trip around the world
Would you like to fulfil your dream of a round-the-world trip when you retire? A funds saving plan is a good way of systematically saving to achieve this goal. If you set up a standing order to pay CHF 20 a month into a fund via a funds saving plan, you will have contributed and saved CHF 4,800 after 20 years – and that does not even include your potential return. Depending on how well the financial markets fare and the fund performs, you have the opportunity to achieve a higher return than on a savings account.
Achieve your savings goal step by step
You can even fulfil a dream with a small amount of money. You can, for example, transfer money that exceeds a certain amount directly to your savings account at the end of each month. This means that even in a month where you have spent less than expected, you do not run the risk of simply spending the extra money you could have saved. This works best with rules which you can set up in the notifications section of the PostFinance App.