N26 is available in Switzerland – Save on Foreign Currency Fees

Categories Budget, Switzerland14 Comments on N26 is available in Switzerland – Save on Foreign Currency Fees

Everybody will agree with me that paying 1.5% of fees, or even more,  on each transaction abroad really sucks! That is not something you want to think about when you are on vacation or shopping online in other countries. Thanks to N26, this should never be necessary anymore!

N26 is a digital bank offering transfers in other currencies for free! Not only that. But the entire bank account is free! And they are a bank! Your money is insured according to European laws. You can even withdraw money for free several times a month! That sounds great, right?

In this post, I am going to cover everything you need to know about N26. And since I have already talked about Revolut on this blog, I will compare both services which are similar but not equivalent!

Stay tuned to find out how to save money on foreign exchange fees!

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Is Switzerland really So Expensive?

Categories Frugality, Switzerland8 Comments on Is Switzerland really So Expensive?

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?

In this post, I am going to answer these questions. We are going to discuss the price of several things in Switzerland. It should give us enough material to answer the question of whether Switzerland is really so expensive!

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What is the Best Swiss Bank in 2019?

Categories Investing, Switzerland8 Comments on What is the Best Swiss Bank in 2019?

Everybody needs a bank account. If you have an income, you will need it to be deposited into a bank account. And you will need to pay your bills from your bank account. Unless you live completely off the grid and get paid in cash, you will need a bank account. But which Swiss Bank should you choose?

There are tons of different banks. After all, Switzerland is the country of banks (and chocolate). However, contrary to popular belief, Swiss banks are not really great!

In fact, most Swiss banks are really expensive and offer poor service. You can find much cheaper and better banks in other countries. Fortunately, this is starting to improve with some new banks that try to make things move.

Let’s see which of these banks is the Best Swiss Bank in 2019! But first, let’s start with how we can choose a bank!

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The Best Phone Plans in Switzerland in 2019

Categories Frugality, Switzerland8 Comments on The Best Phone Plans in Switzerland in 2019

I think we can agree that everybody wants to pay as little as possible for their phone bills. Even though you may think your current phone plans is the cheapest available, there could be new deals since you started using your plan. It is always important to keep up to date with the latest offers.

Very recently, one of my reader, MrBeardedGuy, let me know of a very cheap phone provider, Mucho. I had never heard of this. And it looked very cheap. It had been too long since I had a proper evaluation of my phone bills. So I decided to do a full comparison based on my personal usage. And I figured it could help my readers as well to reduce their phone bills. I am almost sure I am not the only one paying too much for my phone bills.

The Swiss Phone plan market is quite diverse these days. 15 years ago, it was almost only Swisscom and everybody was content with it. Now, there are many other providers using one of the three major networks.

In this post, I am going to compare the phone plans and prepaid cards for 7 standard phone usages. For each of them, I will show the cheapest options available. Keep reading if you want to save money on your phone bill!

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Interview of Julius Kirscheneder, Founder of The Neon Bank

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Recently, I had the pleasure of interviewing Julius Kirscheneder, one of the founders of Neon. I hope you will like this interview as much as the other interviews I have made in the past on this blog.

Neon is a great Swiss bank. I have already talked about it as one of the best banks in Switzerland. What makes it different from the other banks is that it is entirely digital. You will not find Neon offices in Switzerland. Instead, you will have your bank in your pocket all the time!

Another way they distinguish themselves is that they are very cheap. In fact, if you use it well, they are free!

Neon was founded in 2017 in Switzerland by four people, one of whom is Julius that I will be interviewing today. They now employ ten people, mostly in Zurich. In fact, they are not really a bank since they do not have a banking license. They are working with Hypothekarbank Lenzburg acts, which acts as their banking partner.

So, let’s hear what Julius Kirscheneder, Founder of the Neon Bank has to say!

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The Best Websites For Online Shopping In Switzerland

Categories Frugality, Switzerland6 Comments on The Best Websites For Online Shopping In Switzerland

These days, a lot of shopping is done online. It is so practical to shop for something online. It can save you a lot of time. And it allows you to easily compare many different websites to get the best deals. This can also save you some money.

Of course, online shopping also has its dark side. Since it is so convenient to shop online, some people are buying many more things than they should. It is so easy to press a button and get things delivered at home. I am sure it happened to many of you. At least, it happened to me!

If you are only buying things you need, online shopping can be a great thing. But you still need to know where to shop online. Even in our small Swiss country, there are hundreds of websites where to shop. And let’s not forget that sometimes online shopping is not cheaper than shopping in a normal shop!

In this post, I am going to list the best online shopping websites in Switzerland. This should allow you to shop for the best prices!

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Guide to Taxes in Switzerland – Reduce your taxes!

Categories Budget, Switzerland24 Comments on Guide to Taxes in Switzerland – Reduce your taxes!

Taxes in Switzerland are quite complicated due to the multiple states. Each state has its own rules and even its software to fill your taxes. Nevertheless, it is essential to know how the taxes work to be able to fill your tax declaration.

I want to go over the details of how the Swiss Taxes work. We are going to talk about the multiple levels of taxes in Switzerland. Also, we will cover how is your income taxed and how is your wealth taxed. We are also going to see the things you can deduct from your income when you file your tax declaration and how you can pay your taxes.

Of course, we cannot talk about taxes without talking about optimizing taxes. That is probably the only reason people want to learn about taxes! In this post, I am going to share all I know about optimizing taxes in Switzerland!

Stay tuned to learn all about the taxes system of Switzerland and how to reduce your taxes!

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Neon Bank: Free Swiss Digital Bank

Categories Investing, Switzerland10 Comments on Neon Bank: Free Swiss Digital Bank

Neon is one of the newest Swiss Digital Banks! It offers an entirely free bank account. Having a free bank is very important if you want to save money for managing your money. Swiss Banks are becoming more and more expensive. It is great to see some free alternatives!

Neon is a digital bank. It has no offices. You can manage your money entirely from your phone. With your bank account, you will receive a Mastercard that you can use for your payments. And you can use the mobile application to pay your bills and transfer money to other bank accounts.

One of the great things with Neon, compared to other digital alternatives is that your funds are insured! If it goes bankrupt, you are insured up to 100’000 CHF! You have the same security as if you had a class bank account.

We are going to see exactly what is Neon! Should you use it? How does it compare to other Swiss banks? And what about Revolut?

If you keep reading to the end, I will have a special offer for you!

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Swiss Life Select will not help your financial life

Categories Investing, Retirement, Switzerland13 Comments on Swiss Life Select will not help your financial life

I have already talked about Swiss Life Select (SLS) in the past. I paid for their services. And I consider it is one of my biggest budgeting mistakes. There are many reasons for that. Not only was paying for their services a mistake but so was accepting some of the products they recommended. And I just thought a new thing that I find out about them. They actually screwed me over with bad insurance.

So I want to talk more about that. I do not want other people to do the same mistake as me. While this post is focused on SLS, it applies on most of all the financial advisors and insurance advisors you will be in contact with. They almost all have the same issues.

As a note, this only reflects my experience with Swiss Life Select. Maybe some other people had a better experience with them. And since you have a private advisor in the company, it is also possible that my bad experience is related to that.

So, let’s see what is wrong with that SLS offers you in this post! I hope that this does not come as too much of a rant. I did some bad choice by trusting these people and I want people to avoid doing the same mistake as me! Continue reading “Swiss Life Select will not help your financial life”

Swiss Stock Market Indexes – SMI index, SPI and SLI

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I have talked at length about many stock market indexes on this blog. For instance, I have talked about the S&P 500 index and the Russell 3000 index. However, these are U.S. stock market indexes. Since this is a Swiss blog, I thought it was about time to spend some time on the official indexes of the Swiss Stock Market.

As it turns out, there are many Swiss Stock Market Indexes. This is a small stock market (about 2% of the world capitalization). But it is one that is considered quite stable. Therefore, there is quite more interest in this stock market than the small market capitalization would make us think.

In this post, I am going to go over all the indexes from the Swiss Stock Market. If you prefer visuals over texts, head to the end and discover a nice infographic I made for the different Swiss Stock Market Indexes.

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