A lot of people think that Swiss people are rich, but it is not the really the case because of the cost of living. But it’s true that we are rich in many send of the word. Firstly for the quality of life, we have very efficient services (paid by our taxes), public transport are fantastic, Swiss people are the biggest user of public transport in world, the security is still fairly good even if crime is increasing in some regions.
So why we are not rich financially, because we spend a lot of money in health care insurance (between 300-500USD per month), lodging can range between 900-4000USD/month (around 60% of the population is renting and not owning a house), groceries are around 30% more expensive that France or Germany. A Starbuck coffee, tall mocha is probably around 7USD, 1 Kg of premium beef will be around 90USD! I will not talk about restaurant as the are extremely expensive. So how can we become financially independent and be able to increase our saving rate?
The biggest trick we have for groceries shopping is:
At the supermarket: at the end of the day, just before closing, products that have their expired date the next day will be discounted at a rate of 30%-50%, so almost everyday we go to the supermarket and try fish-out some opportunities.
In my next post, I will detail our saving schemes.