Author: Mr. The Poor Swiss

Mr. The Poor Swiss is the author behind thepoorswiss.com. In 2017, he realized that he was falling into the trap of lifestyle inflation. He decided to cut on his expenses and increase his income. This blog is relating his story and findings. In 2019, he is saving more than 50% of his income. He made it a goal to reach Financial Independence. You can send Mr. The Poor Swiss a message here.

How to side hustle legally in Switzerland?

By Mr. The Poor SwissCategories Side Hustle, Switzerland

Having a side hustle is a great thing to increase your income. But you need to be careful about doing it legally. If your side hustle is getting serious, you need to make sure you are respecting the law.

If you are just selling a few things you do not need anymore, you probably will not have any problem. But if you have a side hustle that generating a more serious amount of money, you need to do it right.

Here, a serious amount of money is 2300 CHF per year. From that point, you will need to start thinking seriously about it. 2300 CHF per year is the amount from which you will need to pay social contributions.

Continue reading “How to side hustle legally in Switzerland?”

Revolut Review: Never pay any currency exchange fee again!

By Mr. The Poor SwissCategories Frugality, Travel

One big problem with most credit cards is that they charge hefty fees for transactions in foreign currencies. If your base currency is Swiss Francs and you are paying something in dollars, you will have to pay a percentage of the transaction as a fee. It is not uncommon for credit card companies to charge more than 2% fees on such transactions. That is where the Revolut travel card comes into play!

As we are going to see, Revolut can help you save a lot of money on foreign transaction fees. Moreover, where banks are generally giving bad exchange rates between currencies, Revolut is usually giving you the best exchange rates available. If you purchase things in other currencies, or even from other countries, such a travel card is essential to saving you money!

Continue reading “Revolut Review: Never pay any currency exchange fee again!”

Selma vs Yova – Best Robo-Advisor for Sustainable Investing?

By Mr. The Poor SwissCategories Investing

Many of you have asked me about sustainable investing and how they should invest in Sustainable Instruments. Specifically, many have asked which Robo-Advisor they should use for sustainable investing.

The two main Robo-Advisors for sustainable investing in Switzerland are Selma Finance and Yova. So, today, we are going to compare Selma vs Yova for easy investment in sustainable companies.

Continue reading “Selma vs Yova – Best Robo-Advisor for Sustainable Investing?”

10 Tips to Protect Your Online Personal Finances in 2020

By Mr. The Poor SwissCategories Financial Independence

These days, most of your personal finances are probably online. You probably have access to your bank through an online banking platform. Also, you are likely to access your broker through your browser or through your phone. If someone is getting access to your online personal finances, he can do a lot of harm! You need to protect yourself!

Continue reading “10 Tips to Protect Your Online Personal Finances in 2020”

valuepension Review – Great vested benefits account

By Mr. The Poor SwissCategories Retirement, Switzerland

Many of you asked me about an excellent vested benefits account. Until recently, I did not know any good one. But now, I came across valuepension! valuepension offers an excellent vested benefits account.

valuepension is a vested benefits account that relies on index investing! They are using low-cost index funds and allow people to invest heavily in stocks. Their vested benefits account looks like a great account that should maximize your return on the second pillar.

Continue reading “valuepension Review – Great vested benefits account”

May 2020 – The revenge of the taxes!

By Mr. The Poor SwissCategories Monthly

May 2020 is over! One more month that we spent at home. Restrictions have started to get eased in Switzerland. But we still spent most of the time in our apartment.

We managed to spend very little money this month. However, we now have to pay the taxes for 2019! Given my significant increase in income last year, I did not pay enough taxes in 2019! So now, it is time for the taxes to take their revenge!

Continue reading “May 2020 – The revenge of the taxes!”

DEGIRO vs eToro: Which Is Best For You in 2020?

By Mr. The Poor SwissCategories Investing

There are many good brokers available. So how do you choose between them? Today, we are comparing DEGIRO vs eToro, two brokers that are popular in Europe.

If you want to trade in the stock market, you will need a broker account. And you must choose your brokerage company well. You will likely keep the same one for a long time. And changing brokers is a significant pain.

Continue reading “DEGIRO vs eToro: Which Is Best For You in 2020?”

Is Switzerland really So Expensive in 2020?

By Mr. The Poor SwissCategories Frugality, Switzerland

People often cite Switzerland as the most expensive country in the world. Several of its cities, Zurich and Geneva, are also often named in the list of most expensive cities in the world.

Now, is it as expensive as people believe it is? Is everything more expensive, or are just some items significantly more costly than others? And finally, are some things cheaper in Switzerland than in other countries?

Continue reading “Is Switzerland really So Expensive in 2020?”

Swiss Stamp Tax Duty – All you need to know

By Mr. The Poor SwissCategories Investing, Switzerland

If you have been investing in Switzerland, you probably have heard about the Swiss Stamp Tax or the Swiss Stamp Duty. This Stamp Tax is a tax that is collected when you do certain transactions on the stock market.

Even though this stamp tax is really simple to understand, there is a lot of confusion about it. Therefore, I wanted to cover it in detail to dispel the confusion once and for all.

Continue reading “Swiss Stamp Tax Duty – All you need to know”