Keep your spending in check with the UBS budget calculator.
As more income means more responsibilities, it is important to keep an eye on your financial resources from the very beginning and to know what you get and what you spend at all times. This is no problem if you use our practical budget calculator.
Why set up a budget?
A budget provides an overview of all sources of income as well as expenses and helps you to manage your money in the best way possible. A detailed list allows you to identify where costs are being incurred and in which areas corrections may be possible or necessary. You should review your budget every year and adjust it if necessary.
How to complete the budget:
Enter all the amounts you know. Expenses that are not incurred on a monthly basis (e.g. taxes, insurance premiums, annual subscriptions) should be broken down by month. Annual amounts, for instance, are divided by 12 and quarterly amounts by 3. This will help you compare your average monthly income with your average monthly expenses.
Step 2: Record current amounts
In this first step, you should enter all costs that you incur on a monthly basis into the template, including all anticipated costs (e.g. dentist, holidays). As they are defined by ongoing contracts, invoices and policies, amounts such as rent, taxes or insurance are fixed and can easily be transferred to a monthly budget. Household and clothing expenses, etc., need to be estimated on the basis of past monthly or annual expenses. “Budget Advice Switzerland” provides guidance amounts calculated according to income and size of household which could help to give you an idea of your own spending.
Step 2: Make corrections
If the budget is balanced or you even have a positive difference, you have reason to be happy. If you end up with a negative difference after step 1, review your budget again item by item and think about where you could make savings. If there is only a small minus, corrections in household/personal expenses/leisure can be immediately implemented and are usually sufficient. If the deficit is larger, it may require a change of apartment or selling your car to rebalance your budget. In most cases, such measures cannot be implemented immediately and have to be considered very carefully.
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