Your household functions like a business. You have receipts and expenditures. Imagine you are the Managing Director of this firm. At the end of the year ideally you will have received more than you have paid out - and have money left over with which to fulfill a dream for example or to be able to save for something in particular.
Sounds good! But for that you need to know how much you spend and on what. Thereby seeing at a glance what you have left over from your income each month. And you can quickly see where you could perhaps save even more. Thus you will have the best chance of making a profit out of your household budget by year end - just like in a successful business.
Setting the household budget: Where does your money go?
When you set your household budget it is important that all the information is truthful. Only then can you use the data. Even if you plan or wish to spend less on clothes or leisure activities. In the household budget you should insert the actual amounts. When some individual amounts vary greatly, you can take for example an average over the last six months.
To calculate the household budget list your most important income and expenditure separately. Firstly, work out your total income from salary, premiums, pension rights and assets. Then list down all your costs carefully including the various insurance policies, living costs, tax, household, health, travel and leisure activities.
If you don’t want to list everything individually there are some helpful tools. Among other things the Online Budget calculator of the Swiss Advisory Council. In this you can enter all your income and expenditures. Whilst you input the information it automatically calculates your household budget for you.
Average household budget for Swiss families with 2 children*
Your personal financial assistant helps you set your household budget
When you use our planner’s help to manage your budget, you can see in detail how much your car and your mobile cost per month. And your partner’s car. And your children’s mobiles. There’s a lot coming together.
Your personal assistant can help you learn about possible savings with e-Banking and Mobile Banking. It supports you with the initial setting of the household budget, in that all the information is automatically categorized and graphically laid out. You can see on a pie chart how much your monthly expenses are and what they are for. The bigger the piece of pie, the bigger the outgoing.
So you have all income and expenditure information available at any time, at a glance, on your computer, Tablet or smart phone. In addition, with the personal financial assistant, budgets and savings goals can be automatically updated by the account activity and much more.
By taking a closer look you can also learn where your household can best make savings. Are you insured twice perhaps? Are you paying for subscriptions or memberships that you hardly ever use? You would be amazed how much money you can save.