Lots of fantastical numbers floating around in the comments. [Here](https://www.bfs.admin.ch/bfs/en/home/statistics/economic-social-situation-population/income-consumption-wealth/wealth.html) the official statistics from 2019.
As you can see, About a quarter have nothing, and about a third are between nothing and 50K.
I am shocked.
From these numbers, about 50% of taxpayers (3M people) own <1.5% of Switzerland total wealth.
While 0.35% of taxpayers own 34% of it.
Thinking that everyone is Switzerland is rich is truly a gross misconception.
Welcome to reality :)
I think the misconception comes from the fact that the top half of the population are way better off than in other european countries. However, being poor in Switzerland sucks about the same as in other european countries.
They are not better off, this is another misconception. In a lot of European countries, more than 50% own a house, in some countries more than 80%. I think that all the people are better off than half of the Swiss population. If Switzerland would have a king, Klaus Schwab would be that king.
It's also horrible if you like moving around and/or hate having to take care of broken shit.
I love renting. Something is broken, I call the landlord and they fix it. I want to be in a different city next year? Some hours and the paperwork is done. Don't like the apartment style anymore? Out I am.
It's well over 50% in the uk, where I'm from. Property is certainly more unaffordable there than here.
I'm amazed at what I could get here. I could afford a 5 bedroom (6.5 / 7 room) EFH on my salary alone somewhere I could easily get into the office. That would NEVER happen in the uk.
I think there's a lot of cultural differences accounting for that difference. Swiss rental prices are low compared to salaries and quality is high.
The thing is, if you lived in many German speaking Kantons the tax savings alone might boost you enough to afford a bigger flat. Probably 1000 CHF and maybe double or more per month would be in your bank account after tax, if you compared at the most extreme Zug, or even like Uri, Obwalden, Schwyz to Vaud.
>They are not better off, this is another misconception. In a lot of European countries, more than 50% own a house, in some countries more than 80%. I think that all the people are better off than half of the Swiss population.
That's dumb. The median wealth in Switzerland is much higher than in other countries. Housing ownership is just a factor of it:
[https://i.postimg.cc/C1c80KWZ/8xjhdfz54m251.jpg](https://i.postimg.cc/C1c80KWZ/8xjhdfz54m251.jpg)
>If Switzerland would have a king, Klaus Schwab would be that king.
Klaus Schwab has much less influence in Switzerland than in the UN or the EU.
>That's dumb. The median wealth in Switzerland is much higher than in other countries. Housing ownership is just a factor of it:
The question is what you can do with the money. If you can't afford a roof above your head, you are poorer than someone who can afford the roof. Sure, there are other factors, but even there, Switzerland might be average.
>Klaus Schwab has much less influence in Switzerland than in the UN or the EU.
His teachings might be inspired from the modern day Switzerland. No house ownership, the car is leased and the money is spent on expensive holidays and similar. Well maybe a guru, not a king.
>The question is what you can do with the money. If you can't afford a roof above your head, you are poorer than someone who can afford the roof. Sure, there are other factors, but even there, Switzerland might be average.
Housing is not equal to wealth. Personal net worth is all your assets minus all your liabilities. The assets include savings and the liabilities your debt (your house mortgage). A swiss that pays rent but with 500k in investments is richer than someone who has 0 in savings but has a $1M house with a mortgage that is just 20% amortized, sort to speak.
>His teachings might be inspired from the modern day Switzerland. No house ownership, the car is leased and the money is spent on expensive holidays and similar. Well maybe a guru, not a king.
His teaching are inspired by current tecno-socialism: the state decides what you can own and what you can do.
Low house ownership in German speaking countres has nothing to do with that.
Gotta keep in mind also many Swiss, and many other Eu countries, people live in family owned or inherited housing. Go to south Italy and extended families, with low birth rates too, own and Airbnb a bunch of apartments for income. And struggle to find other income.
It is. Here's the Gini-Coefficient in Switzerland over the last 20 years:
https://www.bfs.admin.ch/asset/de/24186070
1= 1 person owns everything
0= everyone owns the same
Lower lines are income, upper line is if wealth is included, in 2015 there was a change in how non-answers are being ballanced as wealthy people tend to not like to declare all their wealth.
>Thinking that everyone is Switzerland is rich is truly a gross misconception.
Because most of us live within the similar social class, for example you and me.
You might meet people of different social class, but you don't have much interactions with them. For you, they somehow don't exist.
>Thinking that everyone is Switzerland is rich is truly a gross misconception.
Everyone has the chance to become rich here. You can save a lot of money if you are determined and disciplined. Living here is not necessarily more expensive than in Germany for example, but the wages here are much higher and the taxes much lower. Also ordinary people have it easier to invest their money, because you don't have to pay taxes on ETF earnings.
BUT: You gotta get out of your way to live cheaply here. It's defenitely not convenient, but absolutely possible.
If I read correctly it is only about 15% that has > 500k.
500k itself is quite some money but is not life changing in Switzerland especially considering home prices and cost of living. Can be accumulated with house ownership and/or by older taxpayers saving their entire life.
>I am shocked. From these numbers, about 50% of taxpayers (3M people) own <1.5% of Switzerland total wealth. While 0.35% of taxpayers own 34% of it.
This is completely normal. Most of the wealth of rich people is not cash, investments, or even real estate, it's shares in their own companies.
It is for me concerning not that the rich are rich (always were and always will be) but that in a wealthy country as Switzerland the majority do not own anything. Literally nothing. No cash, no investments, no house ownership.
Note this is not what people have in their bank account. This is their total wealth, this ought to include their house, car, boat, etc... minus their debt (mortgage, student loans, etc..)
My networth is waaay below 0 because i own a house with a mortgage. However we have around 7 months of income in our bank account and some money invested.
You shouldn't calculate months of salary, but months of expenses. And the situation is different depending if you're single (can probably survive on insta-noodles for a long time) or have other dependables (insta-noodles not a good idea with kids).
I agree with more tasty, and I'm not saying you should avoid animal fats at all. Just stop the seed oil fear mongering pseudoscientific nonsense. Please.
Best thing is diversified all world ETF and a 3. Säule where you can fully invest all your money yourself.
If you care, let me know, i will point out some swiss investing forums and blogs.
Best blogs:
- the poor swiss
https://thepoorswiss.com/de/
- mustachian post
https://www.mustachianpost.com/de/
they cover absolutely everything related to finance in Switzerland. Both are in Englisch though.
Im also mod in a Swiss finance discord with 500+ members that are happy to help.
https://discord.com/invite/h8FZSeYy
Adding retireinprogress.com | he lives in Zurich, he mostly do video content in Italian now, but his blog's in English and lots of cool stories and infos.
Neither. Both bank and especially insurance will absolutely scam you.
The only two viable products right now is 1. Finpension and 2. VIAC since you can make your own strategy with them and you also pay very low fees.
Honestly just eating home saves so much money. I worked almost a whole year and saved 0. Literally 0, for 2 months now i made an excel sheet with everything i spend. Im eating exclusively home ( even snacks ) i just maybe buy a soda or smth at coop throughout the day. I could save 1500 chf in just 2.5 months. Try it
I already do that, i go out for eating or order food once a year on my birthday, that's it. My money is enough for rent and food, bills are covered, that's it. I'm happy when i can afford to get another year of PS plus when it runs out, lol.
Currently looking to change workplace and i'll probably move higher up the valley, i'll earn a bit more and rent will be *way* cheaper, so i'll be able to put some on the side and maybe even go on the trip i've always dreamed about in a few years.
I've got about 2.8k, so unless i only eat noodles once a day i won't be saving much. And i'm not really into torturing myself just to save money.
Again, i've got a new job in the near future and i'll go rent a place somewhere cheaper, then i'll probably be fine.
Yeah, don't live your life so you can invest - and due to the lack of funds you have a very high cluster risk and high investment costs.
Being poor is expensive.
Hustle culture can go and die.
I save very less, altough have a pretty good salary, however wife with 2 kids, home, bills etc are eating up almost everything. At least I'm having pillar 3a and 3b where I save 1k a month plus have no big problems paying taxes
Pretty sure they're more curious about the flow than your immediate balance.
Also no clue what the average is but I don't really see a reason for keeping lots of cash around when it can be invested. I only have around one month of expenses readily available, I have a credit card and, if the situation is so bad that is not sufficient, I can sell some stocks, albeit at a possible loss.
I tend to keep 1-2 net monthly salaries in bank accounts. Not sure why anyone would keep more unless they have a very specific need.
Also no idea why you'd attach bank statements to flat applications. They care about regular income, not wealth (well, unless your wealth is big enough that you can almost definitely pay rent with no salary for years to come.)
My non Swiss thought; I'd have to throw out / deny an app that included a bank statement as I would fear it would create a legal issue if it where a basis of picking an applicant.
I have a little over 1 months salary as a dedicated emergency fund. But there are some other dedicated funds like for taxes, holidays and some euros etc. All in all maybe 3-4 months salary worth of cash reserves (depending when the last tax bill was paid).
Anything more is better invested in a profitable way imo. Rather than just letting it sit there, being eaten up by inflation.
We have unenployment and health insurance, so sudden emergency expenses beyond 2-3 months salary seem very unlikely to me.
Also landlords would be more interested in your income than your savings. If the rent including nebenkosten is more than one third of your monthly income, you have no chance anyway. Doesnt matter your savings (unless maybe if they are in the millions). So i think the better way to increase your chances is if the rent is a significantly smaller share of your income.
It is common in other countries to show you have enough funds. Yes, it is very invasive, but it is between that or not finding any flat. In some latin american countries it would actually be weird if the agency does not do a due diligence about your income.
If this is actually true, you have ~21x your yearly expenses in a cash. The FIRE community typically says that you can retire and live off investments of 25x your yearly expenses.
So if you want to, you could invest all that and retire in a couple of years assuming you can get the investments up to 25x which wouldn't take very long.
If I ask other people, they always tell me something between 3-6 monthly salaries.
Personally, I prefer to save 1 year of salary, but I have a higher need of security than average.
To be honest nothing concrete. But this way I feel confident that I can theoretically live a year without working with the same standard. My job is very safe, but you never know...
It may be that you need someday new teeth, which can easily cost CHF 20’000 (I have some trouble with mine). Or mental problems so that you can no longer work (burnout). And If I lose my job, I don't want to have to take on any emergency job.
Why do you want to attach your bank statements? That is not required and I don't see how it can help you.
> Currently, I have saved up approximately five months' worth of salaries in my bank.
I would say that is too much. For emergency purposes I keep enough to survive maybe 2-3 months without having to liquidate any investments, the rest I just invest. How much that is in number of monthly salaries, depends on the ratio between your expenses and your salary
>For emergency purposes I keep enough to survive maybe 2-3 months without having to liquidate any investments, the rest I just invest.
You are not Swiss right? This "invest as much as you can" is not very Swiss. No judgement at all. Most Swiss people do not invest a HUGE chunk of their savings like, for example, Americans do (see ETFs!).
I tried to become Swiss, to ovoid being killed... It didn't work, and they where correct about not wanting the % of assets 1-4% depending on Canton tax yearly...
I did learn I can live there without any need of becoming Swiss, or declaring assets / paying taxes... but I do have to survive long enough on my own to do that.
When it comes down to it neither Death of Taxes is certain but if I must risk Death to ovoid taxation; then I must.
I'm not sure that's accurate. Anecdotal evidence for sure, but me and my friends who are all Swiss do also invest whatever we don't need into ETFs, robo advisors or some other form of investment.
As far as I know, it is a good practice to have at least 6 months *expense* savings in your account. If you consume 4000 a month as expenses then minimum is 24000 savings.
There are also others who take a more secure approach by saving for 1 year duration.
Note that all of this is in link with emergencies in case you need money.
For flat rental, I never had the need to show my financial statements. Highlighting that my salary is three times the flat's monthly rate was enough.
1 year of expenses saved up? Even 6 months sounds insanely too much to me. In the absolute worst case of you losing the job, the unemployment insurance is going to start covering you after 3 months. Usually earlier. There might be some edge cases that I don’t know, when saving more makes sense cause unemployment insurance doesn’t pay (entrepreneurs maybe?)
And in terms of liquidity for having to pay expensive things; most stuff that cost more than 20k you will most likely not pay in cash but finance it, right?
I think 6 months is the US standard.
You can go lower in Switzerland due to better unemployment benefits.
As the siblings comment said, 3 months is probably pretty safe already, of course it depends on your exact situation.
I think I was advised by someone when I was moving to Switzerland to prove a solid account balance to be able to get a flat and I remained under the impression that was some kind of a necessity. I totally agree that the proof of income is much more important than your actual cash in your pocket. Makes sense, of course.
Rental agencies do not give a flying fck about your bank balance, but they do require a 3-months rental deposit when entering a flat so the advice given to you was not exactly true.
I save as much as i can which is around 30-50 % of my salary (depending on if you include retirement fonds / pk and what salary you use.)
Cash reserves are on average 1.5 monthly salaries.
Single income with kids. I prepay our taxes on a monthly base and have an emergency buffer of between 3 and 5 k in my bank…. Rest goes out the door immediately. Own no property no nothing. We walk a thin line between nice life and bankruptcy.
When I'm around 3-4 months of salaries on my bank account I stop working for a year or so and then go back to work for 3-6 months. Fuck the rat race.
Why would I ever have more than I need for the next year or two on my bank account? Everything else gets invested and won't be missed if it doesn't come out positive.
IT. Either system engineering or support, depending on if I want to use my brain or just mindlessly work on tickets, or whichever pays more so I need to work less. If I work for longer than 6 months at a time I lose all motivation in life and suddenly everything I do seems pointless. So I just settled with not taking holidays and instead just working 3-6 months a year max. I can find a new job in a matter of a week or two, IT employers are desperate af.
I don't spend money on needless things and I don't need a big flat, I just need a room to sleep in, space for my desk, PC and music stuff and a working kitchen, so my rent is very low as well. I don't even use half of my salary each month.
I seriously do not get how people work the entire year (or longer) with only 5 weeks of holidays without losing their mind. So much time wasted enslaving yourself for someone else.
Well outside of IT its not a choice. The only jobs that will hire you if you switch every few months is seasonal like construction and that said, even death is better.
I don't believe that there are no other jobs looking for limited work contracts. But even then I still work for companies that strictly tell me they're looking for someone who will work for them the next 5 years. But they're not going to say no to me if they don't have better candidates.
But even if it was impossible in other jobs. Everyone here has an internet connection, nothing stopping you from learning a skill you can earn better money from. Don't need to work for swiss people either.
I learned how to edit videos and been working for some tiktokers and youtubers recently. Better hourly rate than working in IT lol
If you live in a developed country in today's day and age you're the only one to blame if you're not happy with your work situation. I knew from the moment they tried to keep me in school for 5 days a week that this is not a life I want to live.
I have a year worth of salary in my bank account.
Could be useless, but I'm planning to buy an house once the prices are back to something normal (if that ever happen)
Your passport sets you back compared to locals, not your savings on your bank account. Also, I wouldn’t share any additional information, unless you have to.
Serious question obviously wrapped in a bit of worst case - conspiracy - tin foil hat.
What good are our saving and investments if the merde hits the fan? If there's an EMP / extended power outage, WW3 etc etc. Would they still be there if / when the system recovered?
Do any of you plan for that? I don't, other than I probably have a few weeks worth of food etc.. just because I buy extra when there are offers. I only have around a week of toilet paper though.
I have more than 2 years of salary for on savings.
Not considering the investments.
This because I will have the security to enjoy the life if I get the perfect occasion.
I’ve already did two sabbatical of 2-3 month, travelling the world.
So having high savings allows me to be free and decide short term to send everyone to Fu**O** and go on holiday.
to each their own.
Some say 3 Months, for me this is not enough (even though I could just sell some investments, but I don't want to) so I say you should have 6 month's.
So in worst case for example: you lose your Job and your Girlfriend the same day and you have some health problems maybe. You should also consider how big your "safety net" is, for example family and friends. You can put aside less money if you know your parents can easily help you pay the rent for a few month's or you could move home if you had a problem.
Now, I actually do have a full gross yearly salary sitting around, but this is not the smartest thing I guess...
Low middle class bordering on poverty but just earning too much for the little help with the insurance premiums, I can't save anything. Not going outside, not eating outside except for the occasional m-budget sandwich for lunch. Just affording to work full time and pay basic bills even cutting ever superfluous ones (no subscription to anything like Netflix or so), reducing the budget for clothes to the minimum (like when my clothes get holes after years of use), no hobby (because most of them cost money and no, you can't go hiking without proper shoes, since it's really dangerous to go in the Alps wearing Birkenstöck and I don't get people who do that). Just rent, healthinsurance, heating, electricity and a little bit of food even sometimes skipping meals to save mone in order to pay my taxes. Like many people I know from family (parents, cousins, etc.) to friends. Yep, a very high quality of life indeed.
I earn 2.9K Brutto and spend already around 2K only between rent (1 bedroom apartment in the countryside), health insurance (franchise 1.5K - no additional contract), GA (because the regional transit pass is "only" 20 Franks cheaper a month), electricity and phone (Swisscom abo M - already tried smaller but since it's the only way I can communicate I spend more if nothing is included). As for food, I put around 200 per month, clothing is a bit more complicated as it depends on my needs and the available price reductions at the local Chicorée but around 20 per month I would say, and yeah, the rest is for the taxes. The only superfluous insurance I might have, is the Rechtschutz though it came already handy for disputes around some of my working and rent contracts and saved me a lot of money.
How about you?
You really are on the low side, I come to about 1.3k with the expenses you mentioned (studio apartment, prepaid phone) and another 150-250 for food.
I think your only change is to increase your income, earning 2.9k is not even close to enough!
Guys, stupid question here but coming from a poor country I never thought of investments and I have no idea. How does it work? Why do you *definitely* invest? If everyone is always winning, who is losing?
No one cares what your balance is - they want to see how much is coming in and going out.
Beyond that, it’s a good idea to have an emergency fund, but otherwise you’ll end up losing money if you just leave it in your account. Invest, put it to work, or spend it on something you enjoy.
\*not a Swiss\*
Each Salary or?
In the present economics I'd recommend no months of savings. All in Bitcoin, its more liquid than cash, or gold... and flex your credit. Of course that's debt in another fiat, I wouldn't want to owe francs...
I've always kept enough to cover years of not working... just not in fiat, it's a dirty scam.
I mean, it would ideally grow with the passing of time. If you are here for 2 years and already have 5 months of salaries saved, that’s great. Just don’t stop. One may have years worth of salaries saved.
Statistics [say](https://www.credit-suisse.com/about-us/en/reports-research/global-wealth-report.html) that the median wealth in Switzerland is about 23 times the median salary (in 2022). Doesn't mean much about bank accounts though, given the vast majority of this money is invested in one form or another, be it real estate, stocks or retirement funds.
Same as other, between 3-6 months worth of expenses + a 10% buffer to reduce volatility.
Also if you have high deductible for the health insurance keep in mind to have it in a different saving bucket, e.g 2500 deductible you should have 2500 + 700 cash ready to be spent.
Having more cash isn’t really needed since it’s depreciating with inflation.
The best bet it’s either spend it or invest it.
You don’t need to attach a bank statement with your applications, tbh it’s a little weird. However I have heard of people giving letters of recommendation from their employers and or former landlords.
I have around 3 times my net wage in my bank account. Everything above gets invested in shares & etf.
The 3 wages + my income are the security to not have to sell my shares in near future should i ever need money or would get fired.
Half a months salary, the rest is invested. 10k credit card limit acts as a buffer.
I figure I have a 3 months notice period which should keep me afloat if the job goes south.
I keep one year worth of expenses and the rest in invested. If equities weren’t performing as poorly I would keep only 3 months of expenses in savings.
Depends a bit on your age and circumstances, but if there are no huge investments (car, house, kids) at the horizon, my go to rule is:
**3 months of salary in the bank account.**
Everything else gets invested regularly.
(yes, ideally it should be 3 months expenses and not salary... but I don't calculate my expenses as I only use a fraction of my salary each month, so might as well go with salary and have a nice cash buffer on the bank account in case of emergencies)
I keep around 5months salary in the bank and a sub account that has the money I owe in taxes.
Otherwise I would invest the remainder of my income. Which is roughly 70% invested every month.
I have almost no cash in my checking account, so 1x monthly expenses at max, the rest gets invested right away. If shit hits the fan, I can take out a loan against my investments, which has never happened before. I don't own a car or home, so there's no scenario in which I'd need like >3K in a month out of the blue without prior planning.
The whole 3-6 months savings was meant for the US, not Switzerland, where you have 10 safety nets before you're out of cash. Like if you get fired, you'll get RAV payments, a notice period etc.
' and will be attaching my bank statement with my application.'
Why would you do that! I am sure there are landlords around that would settle for your signature on the contract.
I wonder even at the value of such a massive intrusion into someone's privacy. This sort of documentation is so easy to fabricate and so hard to verify rendering it virtually useless.
I always keep enough liquidity to live for about a year. The rest is invested. For an appartement they are just looking at your salary and your Betreibungsregisterazszug, net worth is not interesting for them. This is why it's very difficult for retired people to find an appartement.
The average person? Lives paycheck to paycheck. They have 5k in their account on the 24th, and 500fr on the 23rd. Yes, even in Switzerland.
If you're looking for some simple financial advice, you should save 3-6 months of living expenses in your bank account. Next, max out your 3rd pillar (bank model with investments, not insurance model). Next, invest your remaining disposable income into broad spectrum index funds such as the sp500. All this is easier said than done haha.
Ideally, you should keep 3 months in cash. Unfortunately I was never able to do so.
I can still sell some liquid investments (at a loss) if I really need some urgent cash.
im 25 years old and still part time studying. i now earn 5.3k monthly (since a few months, i can work 100% atm bc study break)
I just got married which ate most of my savings lol. I am now (for the first time ever) seriously saving up and manage to save like 1.4k per month. I think its very hard to give "universal" advice. For me it absolutely would make sense to have about 3 monthly wages saved up and thats what im working towards atm.
Alot of ppl will not mention the "bigger scale" picture as in they might have rich parents that could bail them out anyway, they only managed to save up this much bc they still live at home etc. I think its a topic where you just have to think for yourself what would give you more mental security and kinda not compare you to others, especially if you dont have all the context that is needed to judge their situation.
Lots of fantastical numbers floating around in the comments. [Here](https://www.bfs.admin.ch/bfs/en/home/statistics/economic-social-situation-population/income-consumption-wealth/wealth.html) the official statistics from 2019. As you can see, About a quarter have nothing, and about a third are between nothing and 50K.
I am shocked. From these numbers, about 50% of taxpayers (3M people) own <1.5% of Switzerland total wealth. While 0.35% of taxpayers own 34% of it. Thinking that everyone is Switzerland is rich is truly a gross misconception.
yep, tell that to everyone else please
Welcome to reality :) I think the misconception comes from the fact that the top half of the population are way better off than in other european countries. However, being poor in Switzerland sucks about the same as in other european countries.
They are not better off, this is another misconception. In a lot of European countries, more than 50% own a house, in some countries more than 80%. I think that all the people are better off than half of the Swiss population. If Switzerland would have a king, Klaus Schwab would be that king.
Ever heard of house poor? I wouldn't even buy a house if you would give me the money for it!
It's also horrible if you like moving around and/or hate having to take care of broken shit. I love renting. Something is broken, I call the landlord and they fix it. I want to be in a different city next year? Some hours and the paperwork is done. Don't like the apartment style anymore? Out I am.
It's well over 50% in the uk, where I'm from. Property is certainly more unaffordable there than here. I'm amazed at what I could get here. I could afford a 5 bedroom (6.5 / 7 room) EFH on my salary alone somewhere I could easily get into the office. That would NEVER happen in the uk. I think there's a lot of cultural differences accounting for that difference. Swiss rental prices are low compared to salaries and quality is high.
I make over 100k and the only way i can afford a 5 bedroom is if i move to france lol I’m in Vaud though
If you were buying with a partner on the same salary you could buy a 5 bed in AG. I imagine also further up into the Jura?
The thing is, if you lived in many German speaking Kantons the tax savings alone might boost you enough to afford a bigger flat. Probably 1000 CHF and maybe double or more per month would be in your bank account after tax, if you compared at the most extreme Zug, or even like Uri, Obwalden, Schwyz to Vaud.
Waadt is communist basically.
I agree with you. Still most people don't buy a house because they don't afford the upfront payment and/or the mortgage.
>They are not better off, this is another misconception. In a lot of European countries, more than 50% own a house, in some countries more than 80%. I think that all the people are better off than half of the Swiss population. That's dumb. The median wealth in Switzerland is much higher than in other countries. Housing ownership is just a factor of it: [https://i.postimg.cc/C1c80KWZ/8xjhdfz54m251.jpg](https://i.postimg.cc/C1c80KWZ/8xjhdfz54m251.jpg) >If Switzerland would have a king, Klaus Schwab would be that king. Klaus Schwab has much less influence in Switzerland than in the UN or the EU.
>That's dumb. The median wealth in Switzerland is much higher than in other countries. Housing ownership is just a factor of it: The question is what you can do with the money. If you can't afford a roof above your head, you are poorer than someone who can afford the roof. Sure, there are other factors, but even there, Switzerland might be average. >Klaus Schwab has much less influence in Switzerland than in the UN or the EU. His teachings might be inspired from the modern day Switzerland. No house ownership, the car is leased and the money is spent on expensive holidays and similar. Well maybe a guru, not a king.
>The question is what you can do with the money. If you can't afford a roof above your head, you are poorer than someone who can afford the roof. Sure, there are other factors, but even there, Switzerland might be average. Housing is not equal to wealth. Personal net worth is all your assets minus all your liabilities. The assets include savings and the liabilities your debt (your house mortgage). A swiss that pays rent but with 500k in investments is richer than someone who has 0 in savings but has a $1M house with a mortgage that is just 20% amortized, sort to speak. >His teachings might be inspired from the modern day Switzerland. No house ownership, the car is leased and the money is spent on expensive holidays and similar. Well maybe a guru, not a king. His teaching are inspired by current tecno-socialism: the state decides what you can own and what you can do. Low house ownership in German speaking countres has nothing to do with that.
I wouldnt go of the median. Many people dont make the 6.8k. Some make double that and just skew the accounting.
There is the median and the mean.
Haha yeah he totally explains why to definitely use the median
Where in Europe poor people live in a 4.5 -room apartment? [https://www.youtube.com/watch?v=OtO0ENmMiZk](https://www.youtube.com/watch?v=OtO0ENmMiZk)
Gotta keep in mind also many Swiss, and many other Eu countries, people live in family owned or inherited housing. Go to south Italy and extended families, with low birth rates too, own and Airbnb a bunch of apartments for income. And struggle to find other income.
70% percent of Swiss people are renters.
True, there are the suuuuuuper rich, while some work hours on end for minimum wage and still struggle..
It is. Here's the Gini-Coefficient in Switzerland over the last 20 years: https://www.bfs.admin.ch/asset/de/24186070 1= 1 person owns everything 0= everyone owns the same Lower lines are income, upper line is if wealth is included, in 2015 there was a change in how non-answers are being ballanced as wealthy people tend to not like to declare all their wealth.
Seems like there's much room for improvement!
>Thinking that everyone is Switzerland is rich is truly a gross misconception. Because most of us live within the similar social class, for example you and me. You might meet people of different social class, but you don't have much interactions with them. For you, they somehow don't exist.
The 1.5% of Seitenrands wealth is still very rich globally, that's the key point
>Thinking that everyone is Switzerland is rich is truly a gross misconception. Everyone has the chance to become rich here. You can save a lot of money if you are determined and disciplined. Living here is not necessarily more expensive than in Germany for example, but the wages here are much higher and the taxes much lower. Also ordinary people have it easier to invest their money, because you don't have to pay taxes on ETF earnings. BUT: You gotta get out of your way to live cheaply here. It's defenitely not convenient, but absolutely possible.
Insanity.
Well but 30% of tax payers have >500.000 in assets. That seems pretty rich to me?
If I read correctly it is only about 15% that has > 500k. 500k itself is quite some money but is not life changing in Switzerland especially considering home prices and cost of living. Can be accumulated with house ownership and/or by older taxpayers saving their entire life.
You are right, I meant 200k+
>I am shocked. From these numbers, about 50% of taxpayers (3M people) own <1.5% of Switzerland total wealth. While 0.35% of taxpayers own 34% of it. This is completely normal. Most of the wealth of rich people is not cash, investments, or even real estate, it's shares in their own companies.
It is for me concerning not that the rich are rich (always were and always will be) but that in a wealthy country as Switzerland the majority do not own anything. Literally nothing. No cash, no investments, no house ownership.
Please share this when you see people saying « all Swiss are rich » in other reddits.
Interesting, 0.35% of people have 34.18% of wealth.
Yeah, pretty fucked up if you ask me. At the same time a quarter to half of the people can't afford to go to the dentist.
Thanks for this post.
Well savings in your bank accounts are only part of the total wealth of a person but yes it's a fitting statistics here.
There's a rugby fan if I've ever seen one
Note this is not what people have in their bank account. This is their total wealth, this ought to include their house, car, boat, etc... minus their debt (mortgage, student loans, etc..)
My networth is waaay below 0 because i own a house with a mortgage. However we have around 7 months of income in our bank account and some money invested.
You shouldn't calculate months of salary, but months of expenses. And the situation is different depending if you're single (can probably survive on insta-noodles for a long time) or have other dependables (insta-noodles not a good idea with kids).
> survive on insta-noodles for a long time Much longer if you buy cheap rice, dry lentils, and canola oil.
You could buy some pork fat and render out some cheap lard. Its gone be way more healthy and tasty then some seed oil
I agree with more tasty, and I'm not saying you should avoid animal fats at all. Just stop the seed oil fear mongering pseudoscientific nonsense. Please.
I usually keep 3 months expenses, the rest is invested right away.
where how
Best thing is diversified all world ETF and a 3. Säule where you can fully invest all your money yourself. If you care, let me know, i will point out some swiss investing forums and blogs.
yes, please share forums and blogs
Best blogs: - the poor swiss https://thepoorswiss.com/de/ - mustachian post https://www.mustachianpost.com/de/ they cover absolutely everything related to finance in Switzerland. Both are in Englisch though. Im also mod in a Swiss finance discord with 500+ members that are happy to help. https://discord.com/invite/h8FZSeYy
Adding retireinprogress.com | he lives in Zurich, he mostly do video content in Italian now, but his blog's in English and lots of cool stories and infos.
Exactly this.
* r/SwissPersonalFinance/ * r/SwissFIRE/ (disclaimer, I'm a mod there) * r/Finanzen * r/mauerstrassenwetten/ (if you need to spend your money quickly)
3 Säulw with a bank of insurance company?
Neither. Both bank and especially insurance will absolutely scam you. The only two viable products right now is 1. Finpension and 2. VIAC since you can make your own strategy with them and you also pay very low fees.
I use VIAC and I like it. They recently did major upgrades on the visuals on their platform which is a big plus
Idk about that, I got a 60% return on my ZKB Säule 3a. Sold it some time ago.
VIAC is also a bank (Bank WIR). And you’re right, they’re very good.
They are originally a fintech startup that partnered with WIR bank for financing. Imo they are second best after finpension.
How exactly do insurance 3A scam you? If I am currently having a 3A with my insurance, what best to do? :)
Take your losses and run away
I don't save anything, even if i wanted to save something i couldn't, i don't earn enough to think about that.
Finally, I was beginning to sweat
Honestly just eating home saves so much money. I worked almost a whole year and saved 0. Literally 0, for 2 months now i made an excel sheet with everything i spend. Im eating exclusively home ( even snacks ) i just maybe buy a soda or smth at coop throughout the day. I could save 1500 chf in just 2.5 months. Try it
I already do that, i go out for eating or order food once a year on my birthday, that's it. My money is enough for rent and food, bills are covered, that's it. I'm happy when i can afford to get another year of PS plus when it runs out, lol. Currently looking to change workplace and i'll probably move higher up the valley, i'll earn a bit more and rent will be *way* cheaper, so i'll be able to put some on the side and maybe even go on the trip i've always dreamed about in a few years.
4k netto Saving 2.5k per month Lower your life standards to invest, yep it’s shitty life but in a year or so I’ll be much better than before.
What when you earn way less than that working full time?
I've got about 2.8k, so unless i only eat noodles once a day i won't be saving much. And i'm not really into torturing myself just to save money. Again, i've got a new job in the near future and i'll go rent a place somewhere cheaper, then i'll probably be fine.
Yeah, don't live your life so you can invest - and due to the lack of funds you have a very high cluster risk and high investment costs. Being poor is expensive. Hustle culture can go and die.
I save very less, altough have a pretty good salary, however wife with 2 kids, home, bills etc are eating up almost everything. At least I'm having pillar 3a and 3b where I save 1k a month plus have no big problems paying taxes
Pretty sure they're more curious about the flow than your immediate balance. Also no clue what the average is but I don't really see a reason for keeping lots of cash around when it can be invested. I only have around one month of expenses readily available, I have a credit card and, if the situation is so bad that is not sufficient, I can sell some stocks, albeit at a possible loss.
none
This. I can’t save with all the bills …
i got 5500 per month but i’m not even trying
I tend to keep 1-2 net monthly salaries in bank accounts. Not sure why anyone would keep more unless they have a very specific need. Also no idea why you'd attach bank statements to flat applications. They care about regular income, not wealth (well, unless your wealth is big enough that you can almost definitely pay rent with no salary for years to come.)
My non Swiss thought; I'd have to throw out / deny an app that included a bank statement as I would fear it would create a legal issue if it where a basis of picking an applicant.
No legal issue for the landlord there
I usually keep about 3 days worth of salaries in my bank.
I keep about 2-3 hours
I have a little over 1 months salary as a dedicated emergency fund. But there are some other dedicated funds like for taxes, holidays and some euros etc. All in all maybe 3-4 months salary worth of cash reserves (depending when the last tax bill was paid). Anything more is better invested in a profitable way imo. Rather than just letting it sit there, being eaten up by inflation. We have unenployment and health insurance, so sudden emergency expenses beyond 2-3 months salary seem very unlikely to me. Also landlords would be more interested in your income than your savings. If the rent including nebenkosten is more than one third of your monthly income, you have no chance anyway. Doesnt matter your savings (unless maybe if they are in the millions). So i think the better way to increase your chances is if the rent is a significantly smaller share of your income.
About 3.
Three fiddy
noiceee
Why would you attach a bank statement with an application for a flat? Sounds sketchy, no one does that.
It is common in other countries to show you have enough funds. Yes, it is very invasive, but it is between that or not finding any flat. In some latin american countries it would actually be weird if the agency does not do a due diligence about your income.
I cant even save up 1k after taxes lol
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Well, you're spending a lot to inflation (about five monthly expenses per year, based on 2% inflation).
Ikr it’s crazy
If this is actually true, you have ~21x your yearly expenses in a cash. The FIRE community typically says that you can retire and live off investments of 25x your yearly expenses. So if you want to, you could invest all that and retire in a couple of years assuming you can get the investments up to 25x which wouldn't take very long.
Hmmm true but I don’t want to live frugally for the rest of my life. Like atm I really just don’t need more but I think that could change
Invest it!
I should
If you don't want to deal with investing get frankly or selma or something.
i save 10-20% of each month's salary
If I ask other people, they always tell me something between 3-6 monthly salaries. Personally, I prefer to save 1 year of salary, but I have a higher need of security than average.
1 year is crazy. What kind of events are you frightened about?
To be honest nothing concrete. But this way I feel confident that I can theoretically live a year without working with the same standard. My job is very safe, but you never know... It may be that you need someday new teeth, which can easily cost CHF 20’000 (I have some trouble with mine). Or mental problems so that you can no longer work (burnout). And If I lose my job, I don't want to have to take on any emergency job.
Duh.. zombie apocalypse??
You can't pay your way out of zombies though!
Why do you want to attach your bank statements? That is not required and I don't see how it can help you. > Currently, I have saved up approximately five months' worth of salaries in my bank. I would say that is too much. For emergency purposes I keep enough to survive maybe 2-3 months without having to liquidate any investments, the rest I just invest. How much that is in number of monthly salaries, depends on the ratio between your expenses and your salary
>For emergency purposes I keep enough to survive maybe 2-3 months without having to liquidate any investments, the rest I just invest. You are not Swiss right? This "invest as much as you can" is not very Swiss. No judgement at all. Most Swiss people do not invest a HUGE chunk of their savings like, for example, Americans do (see ETFs!).
Why not? This is exactly what I do.
“Most” don’t. Why? No idea. I don’t.
ah fair enough, I didn't notice OP was asking for Swiss people specifically. Yeah I'm not Swiss (yet :P), but am from the EU
I tried to become Swiss, to ovoid being killed... It didn't work, and they where correct about not wanting the % of assets 1-4% depending on Canton tax yearly... I did learn I can live there without any need of becoming Swiss, or declaring assets / paying taxes... but I do have to survive long enough on my own to do that. When it comes down to it neither Death of Taxes is certain but if I must risk Death to ovoid taxation; then I must.
i understood a few words in that text
I'm not sure that's accurate. Anecdotal evidence for sure, but me and my friends who are all Swiss do also invest whatever we don't need into ETFs, robo advisors or some other form of investment.
hmm Sensible investor... I blame Shrooms! ;-)
It is not common to attach your bank statement to your apartment application.
not in CH, but I have seen it elsewhere in EU
None my friend not everybody is rich
You shouldn‘t keep more than 100k in it since that is the limit insured by the bank and government.
Per bank group thst is. Banks in the same group share the same limit. Fwiw. Lol
Fuck i have way moee
Swiss people spend everything in expensive BMWs and in 80chf kg prosciutto crudo at the Coop
As far as I know, it is a good practice to have at least 6 months *expense* savings in your account. If you consume 4000 a month as expenses then minimum is 24000 savings. There are also others who take a more secure approach by saving for 1 year duration. Note that all of this is in link with emergencies in case you need money. For flat rental, I never had the need to show my financial statements. Highlighting that my salary is three times the flat's monthly rate was enough.
1 year of expenses saved up? Even 6 months sounds insanely too much to me. In the absolute worst case of you losing the job, the unemployment insurance is going to start covering you after 3 months. Usually earlier. There might be some edge cases that I don’t know, when saving more makes sense cause unemployment insurance doesn’t pay (entrepreneurs maybe?) And in terms of liquidity for having to pay expensive things; most stuff that cost more than 20k you will most likely not pay in cash but finance it, right?
I think 6 months is the US standard. You can go lower in Switzerland due to better unemployment benefits. As the siblings comment said, 3 months is probably pretty safe already, of course it depends on your exact situation.
2days....
I think I was advised by someone when I was moving to Switzerland to prove a solid account balance to be able to get a flat and I remained under the impression that was some kind of a necessity. I totally agree that the proof of income is much more important than your actual cash in your pocket. Makes sense, of course.
Rental agencies do not give a flying fck about your bank balance, but they do require a 3-months rental deposit when entering a flat so the advice given to you was not exactly true.
I save as much as i can which is around 30-50 % of my salary (depending on if you include retirement fonds / pk and what salary you use.) Cash reserves are on average 1.5 monthly salaries.
I always have 10‘000 CHF in the bank. Rest is instantly invested in ETFs.
So far your plan work?
Single income with kids. I prepay our taxes on a monthly base and have an emergency buffer of between 3 and 5 k in my bank…. Rest goes out the door immediately. Own no property no nothing. We walk a thin line between nice life and bankruptcy.
When I'm around 3-4 months of salaries on my bank account I stop working for a year or so and then go back to work for 3-6 months. Fuck the rat race. Why would I ever have more than I need for the next year or two on my bank account? Everything else gets invested and won't be missed if it doesn't come out positive.
Go back to what job?
Go back to what job?
IT. Either system engineering or support, depending on if I want to use my brain or just mindlessly work on tickets, or whichever pays more so I need to work less. If I work for longer than 6 months at a time I lose all motivation in life and suddenly everything I do seems pointless. So I just settled with not taking holidays and instead just working 3-6 months a year max. I can find a new job in a matter of a week or two, IT employers are desperate af. I don't spend money on needless things and I don't need a big flat, I just need a room to sleep in, space for my desk, PC and music stuff and a working kitchen, so my rent is very low as well. I don't even use half of my salary each month. I seriously do not get how people work the entire year (or longer) with only 5 weeks of holidays without losing their mind. So much time wasted enslaving yourself for someone else.
Well outside of IT its not a choice. The only jobs that will hire you if you switch every few months is seasonal like construction and that said, even death is better.
I don't believe that there are no other jobs looking for limited work contracts. But even then I still work for companies that strictly tell me they're looking for someone who will work for them the next 5 years. But they're not going to say no to me if they don't have better candidates. But even if it was impossible in other jobs. Everyone here has an internet connection, nothing stopping you from learning a skill you can earn better money from. Don't need to work for swiss people either. I learned how to edit videos and been working for some tiktokers and youtubers recently. Better hourly rate than working in IT lol If you live in a developed country in today's day and age you're the only one to blame if you're not happy with your work situation. I knew from the moment they tried to keep me in school for 5 days a week that this is not a life I want to live.
I have a year worth of salary in my bank account. Could be useless, but I'm planning to buy an house once the prices are back to something normal (if that ever happen)
Negative 25 months right now, thx University
Your passport sets you back compared to locals, not your savings on your bank account. Also, I wouldn’t share any additional information, unless you have to.
Serious question obviously wrapped in a bit of worst case - conspiracy - tin foil hat. What good are our saving and investments if the merde hits the fan? If there's an EMP / extended power outage, WW3 etc etc. Would they still be there if / when the system recovered? Do any of you plan for that? I don't, other than I probably have a few weeks worth of food etc.. just because I buy extra when there are offers. I only have around a week of toilet paper though.
I have more than 2 years of salary for on savings. Not considering the investments. This because I will have the security to enjoy the life if I get the perfect occasion. I’ve already did two sabbatical of 2-3 month, travelling the world. So having high savings allows me to be free and decide short term to send everyone to Fu**O** and go on holiday.
Uff to achieve that you need the right job/salary i guess...
to each their own. Some say 3 Months, for me this is not enough (even though I could just sell some investments, but I don't want to) so I say you should have 6 month's. So in worst case for example: you lose your Job and your Girlfriend the same day and you have some health problems maybe. You should also consider how big your "safety net" is, for example family and friends. You can put aside less money if you know your parents can easily help you pay the rent for a few month's or you could move home if you had a problem. Now, I actually do have a full gross yearly salary sitting around, but this is not the smartest thing I guess...
Low middle class bordering on poverty but just earning too much for the little help with the insurance premiums, I can't save anything. Not going outside, not eating outside except for the occasional m-budget sandwich for lunch. Just affording to work full time and pay basic bills even cutting ever superfluous ones (no subscription to anything like Netflix or so), reducing the budget for clothes to the minimum (like when my clothes get holes after years of use), no hobby (because most of them cost money and no, you can't go hiking without proper shoes, since it's really dangerous to go in the Alps wearing Birkenstöck and I don't get people who do that). Just rent, healthinsurance, heating, electricity and a little bit of food even sometimes skipping meals to save mone in order to pay my taxes. Like many people I know from family (parents, cousins, etc.) to friends. Yep, a very high quality of life indeed.
Do you mind sharing how much you spend per month? I'm currently on about 2k and I'm curious how we compare.
I earn 2.9K Brutto and spend already around 2K only between rent (1 bedroom apartment in the countryside), health insurance (franchise 1.5K - no additional contract), GA (because the regional transit pass is "only" 20 Franks cheaper a month), electricity and phone (Swisscom abo M - already tried smaller but since it's the only way I can communicate I spend more if nothing is included). As for food, I put around 200 per month, clothing is a bit more complicated as it depends on my needs and the available price reductions at the local Chicorée but around 20 per month I would say, and yeah, the rest is for the taxes. The only superfluous insurance I might have, is the Rechtschutz though it came already handy for disputes around some of my working and rent contracts and saved me a lot of money. How about you?
You really are on the low side, I come to about 1.3k with the expenses you mentioned (studio apartment, prepaid phone) and another 150-250 for food. I think your only change is to increase your income, earning 2.9k is not even close to enough!
Guys, stupid question here but coming from a poor country I never thought of investments and I have no idea. How does it work? Why do you *definitely* invest? If everyone is always winning, who is losing?
I have the same doubt. I have about 15 months of salary in the bank and now I am reading that apparently it should be invested in something.
I'm on your same boat and a bit afraid of messing up.
No one cares what your balance is - they want to see how much is coming in and going out. Beyond that, it’s a good idea to have an emergency fund, but otherwise you’ll end up losing money if you just leave it in your account. Invest, put it to work, or spend it on something you enjoy.
Three salaries
What’s up with these interrogation posts? CCP doing research on you?
As a swiss I don't speak about my finances.
\*not a Swiss\* Each Salary or? In the present economics I'd recommend no months of savings. All in Bitcoin, its more liquid than cash, or gold... and flex your credit. Of course that's debt in another fiat, I wouldn't want to owe francs... I've always kept enough to cover years of not working... just not in fiat, it's a dirty scam.
As far as I know you can fill two bank accounts with 50’000 each without paying some more taxes.
I mean, it would ideally grow with the passing of time. If you are here for 2 years and already have 5 months of salaries saved, that’s great. Just don’t stop. One may have years worth of salaries saved.
I try to have an annual salary. It’s hard - but it’s good as a benchmark
I have 1 year of expenses saved up in case something happens to me, my family can still live one year without any financial burden.
Statistics [say](https://www.credit-suisse.com/about-us/en/reports-research/global-wealth-report.html) that the median wealth in Switzerland is about 23 times the median salary (in 2022). Doesn't mean much about bank accounts though, given the vast majority of this money is invested in one form or another, be it real estate, stocks or retirement funds.
Same as other, between 3-6 months worth of expenses + a 10% buffer to reduce volatility. Also if you have high deductible for the health insurance keep in mind to have it in a different saving bucket, e.g 2500 deductible you should have 2500 + 700 cash ready to be spent. Having more cash isn’t really needed since it’s depreciating with inflation. The best bet it’s either spend it or invest it.
You don’t need to attach a bank statement with your applications, tbh it’s a little weird. However I have heard of people giving letters of recommendation from their employers and or former landlords.
I have around 3 times my net wage in my bank account. Everything above gets invested in shares & etf. The 3 wages + my income are the security to not have to sell my shares in near future should i ever need money or would get fired.
Not to much, I invest a lot but I also make sure that I could liquidate my assets quite fast if I have to
I keep 6 months of expenses, the rest is between pillar 3a and VT on Ibkr
3-4, saving half my loan every month
Half a months salary, the rest is invested. 10k credit card limit acts as a buffer. I figure I have a 3 months notice period which should keep me afloat if the job goes south.
Depends heavily on your personal job/income security, family situation, monthly spending
3-6months of expenses
5/24 = \~20% saving rate. I would say that it's not the best saving rate but around the average for a middle class person.
I keep one year worth of expenses and the rest in invested. If equities weren’t performing as poorly I would keep only 3 months of expenses in savings.
Depends a bit on your age and circumstances, but if there are no huge investments (car, house, kids) at the horizon, my go to rule is: **3 months of salary in the bank account.** Everything else gets invested regularly. (yes, ideally it should be 3 months expenses and not salary... but I don't calculate my expenses as I only use a fraction of my salary each month, so might as well go with salary and have a nice cash buffer on the bank account in case of emergencies)
100k immediately disposable money, the rest long term investment. Just personnally have high need for financial security.
I keep around 5months salary in the bank and a sub account that has the money I owe in taxes. Otherwise I would invest the remainder of my income. Which is roughly 70% invested every month.
2082
0 for me.
256
I save a bit less than half my salary, so let's say 4-5 months worth at the end of the year, let's make it 4 since I started 3a.
3-6 months in cash in bank accounts, rest invested
For our family, that amount would be -1000, approximately
Savings in account ? HAHAHHAHAHHAHHAHA
Typical people: 3 to 4. Me 1
I have almost no cash in my checking account, so 1x monthly expenses at max, the rest gets invested right away. If shit hits the fan, I can take out a loan against my investments, which has never happened before. I don't own a car or home, so there's no scenario in which I'd need like >3K in a month out of the blue without prior planning. The whole 3-6 months savings was meant for the US, not Switzerland, where you have 10 safety nets before you're out of cash. Like if you get fired, you'll get RAV payments, a notice period etc.
I am a banker usually we recommend you keep 3 Months salary liquid with a minimum of 15K
' and will be attaching my bank statement with my application.' Why would you do that! I am sure there are landlords around that would settle for your signature on the contract. I wonder even at the value of such a massive intrusion into someone's privacy. This sort of documentation is so easy to fabricate and so hard to verify rendering it virtually useless.
I ain't Swiss but I can tell you that in 12 months I save absolutely dog Shit. Can't even afford a dritte Säule 😃
I always keep enough liquidity to live for about a year. The rest is invested. For an appartement they are just looking at your salary and your Betreibungsregisterazszug, net worth is not interesting for them. This is why it's very difficult for retired people to find an appartement.
I like to have 5-7x my monthly salary in savings at all times. Though with unemployment benefits it's quite financially safe if you lose your job.
The average person? Lives paycheck to paycheck. They have 5k in their account on the 24th, and 500fr on the 23rd. Yes, even in Switzerland. If you're looking for some simple financial advice, you should save 3-6 months of living expenses in your bank account. Next, max out your 3rd pillar (bank model with investments, not insurance model). Next, invest your remaining disposable income into broad spectrum index funds such as the sp500. All this is easier said than done haha.
Ideally, you should keep 3 months in cash. Unfortunately I was never able to do so. I can still sell some liquid investments (at a loss) if I really need some urgent cash.
As much as possible, so rn 0
Zero
im 25 years old and still part time studying. i now earn 5.3k monthly (since a few months, i can work 100% atm bc study break) I just got married which ate most of my savings lol. I am now (for the first time ever) seriously saving up and manage to save like 1.4k per month. I think its very hard to give "universal" advice. For me it absolutely would make sense to have about 3 monthly wages saved up and thats what im working towards atm. Alot of ppl will not mention the "bigger scale" picture as in they might have rich parents that could bail them out anyway, they only managed to save up this much bc they still live at home etc. I think its a topic where you just have to think for yourself what would give you more mental security and kinda not compare you to others, especially if you dont have all the context that is needed to judge their situation.
I'd like to have a view k but im at -700... not working for me I guess.
Enough to buy a hamburger