This page has an average rating of %r out of 5 stars based on a total of %t ratings
Ratings (%t)
Reading Time 3 Minutes Reading Time 3 Minutes
Created on 12.11.2018

When there’s too much month left at the end of the money

Most of us have had this experience: it’s the middle of the month, but based on your account, it looks like payday isn’t far off. This can happen from time to time, and it’s something that can generally be offset with savings. However, it’s more sustainable to ration your monthly budget effectively and to prevent these things from happening in the first place. We’ll show you how it works.

Each month, we have to cover numerous expenses, whether for the home, the family, health insurance and other insurance policies, rent or public transport. We can quickly lose track of our household budget and spend income faster than we expect.

This is why it is useful to begin by setting out your monthly expenses and your monthly net income, and try to see where you can make savings. Set yourself the right priorities and try not to cut back on the wrong things wherever possible: leave the things you need, such as insurance, your pension, healthcare and so on, and also remember to set aside some money for taxes so you don’t get a nasty shock when your bill arrives – or maybe even get into debt as a result. 

But if you still don’t have enough funds to last until the end of the month, despite your household budget and these saving tips, there are other ways of getting your expenses and income back under control:

Side job – earn additional income

Could you potentially take on a side job alongside your main job/training? If you can, this may be a good way of improving your income temporarily or in the long run. Of course, this additional income is taxed, and you may end up having very little free time, but for temporary shortfalls or if you’re saving up for something specific, a side job can certainly help.

Change jobs – boost your income

If the fact you’re unable to make a basic living on your income is a major problem, it could well be worth looking for a better-paid position. Could you potentially acquire new skills by doing online courses that would help you qualify for a higher pay grade? Do other employers pay more, even if they are further away from where you live? Always keep your ear to the ground and do your utmost to at least earn enough to cover your basic needs and have a small reserve. 

Sell things you don’t need any more

Do you have clothes, electronic devices or maybe even vehicles you rarely or no longer use? Having a clear-out won’t just help you make more room, it can also help you financially. Get rid of things you no longer need and which you can turn into money. Even though this solution generally doesn’t lead to higher income, you will be able to tackle budget bottlenecks.

Financial advice – draw up your budget with experts

Have you already drawn up a budget for your household? A simple list of all income and expenses where you record how much you spend on things such as coffee on your way to work, croissants in the morning, retail therapy, and so on? And yet your finances are still a problem? Perhaps you would prefer to draw up a budget together with a specialist. Take the opportunity to arrange an appointment with a financial advice center, e.g.  the Swiss budget advice service, so you can get practical help with your problem. Alternatively, you can also find useful tips online to help you calculate your budget.

Savings/reserves – plan ahead for times when you will have less money

If your problem is a short-term one, you could dip into your reserves to tackle it. That’s what they’re there for, after all. Be sure, though, to try and draw on these reserves only when absolutely necessary (e.g. doctor’s bills, food, etc.) rather than using them for non-essential things. Otherwise, you will all too quickly find it difficult to support yourself.

Temporary budget problems can be resolved very nicely if you have a reserve, a strict budget or a small side job. If, however, you regularly have problems supporting yourself with your income at the end of the month, it is certainly worth taking advantage of the budget advice service. 

You can rate this page from one to five stars. Five stars is the best rating.
Ratings (%t)

This might interest you too