Tag Archives: Personal finance

It is well known that the Swiss are overcharged for nearly everything. However, when products are being sent from a warehouse outside Switzerland one would expect the pre-tax price to be the same. This is rarely the case. The Romande Consumer Federation (FRC) has looked at a number of brands and found unjustifiable price differences as high as 93%. © Casimirokt | Dreamstime.com The FRC found an average price difference of +35% on clothing, sportswear, white goods, video games,...

Many Swiss car insurance providers plan to substantially raise premiums this year, according to research by RTS. Some customers are already reporting hikes of around 20%. Photo by Pixabay on Pexels.com According to RTS, most insurers, including AXA, Generali, Helvetia, Postfinance, Zurich and Smile Insurance, are planning to increase their premiums. Some insurance companies justify the premium increases as necessary to cover rising repair costs. Cars have become more high tech and...

Switzerland has strict zoning and construction laws. Federal land use planning laws (LAT) were first proposed in 1979. Since becoming law they have been through a number of modifications. A successful vote in 2013 tightened zoning rules further. This week, SRF reported on two houses that ended up on the demolition list. Photo by Minsu B on Pexels.comDespite municipal construction approval, certain homes are on the hit list. One in the canton of Ticino has already been demolished and...

Every three months the Federal Housing Office (FHO) adjusts the reference rate used to set rents in many rental contracts. If it goes down some renters have the right to request a decrease in rent. This time it dropped 0.25% to 1.50%. Photo by Susanna Marsiglia on Pexels.comThe reference rate is based on average mortgage interest rates. At 31 December 2024, the average mortgage interest rate was 1.53%, down from 1.63% a quarter earlier. The reference rate rounds to the nearest quarter of...

To coincide with International Women’s Day on 8 March, The Economist publishes an annual study on the best places to be a working woman across the OECD. This year, Switzerland is ranked 26th out of 29 nations, the same position as last year. Only Japan, Turkey and South Korea rank lower. Photo by Alex P on Pexels.comThe main reason behind Switzerland’s poor rank is likely well known to most families where both mum and dad work: the high cost childcare. Switzerland has the highest...

Switzerland’s consumer price index (CPI) fell by 0.1% in January 2025. Across 12 months inflation was +0.4%, reported the Federal Statistical Office (FSO). Annual inflation at the end of January 2025 is the lowest it has been since April 2021 when it was +0.3%. © Rochu2008 | Dreamstime.comWhile many nations, such as the UK and the US, are struggling to rein in inflation, Switzerland is going against the grain. In the US annual inflation rose to 3% at the end of January 2025 and in...

In the very early days of skiing, checking whether skiers had valid ski passes was hit and miss. However, today, with modern technology it has become easy. According to a report by SRF, the ski resort of Verbier catches an average of three to four people a day passing through the turnstiles with a ‘borrowed’ ski pass. Every year the resort catches around 500 cheats and issues fines of more than CHF 100,000. The resort has cameras next to the turnstiles. These cameras allow real time...

The latest figures from the Federal Finance Administration (FFA) show that Swiss taxpayers paid more income tax than any year since 2008, reported RTS. The average rate of cantonal and municipal tax paid reached 19.6% of income. This percentage is in addition to federal taxes and payroll taxes. © Bigpressphoto | Dreamstime.comThe rate of tax paid ranged from 12% in the canton of Zug to 25.6% in the canton of Vaud. At 25.5%, Geneva was second. The average rate rose in half of cantons and...

Electricity prices in Switzerland are set for a shake up. Prices paid for electricity put into the grid are falling fast in some parts of the country, reported RTS. From 2026, these prices will be adjusted every quarter, rather than once a year. This will add further uncertainty to prices and the investment case for solar panels. Photo by William Mead on Pexels.comThe changes flow from a new set of laws accepted in a referendum in June 2024. The new law will in many cases usher in lower...

Currently, it is impossible for individuals to legally escape their debts in Switzerland, even when they have no chance of ever paying them back. Some find themselves trapped in debt for the rest of their lives. This week, the Federal Council unveiled a new legal procedure that will offer some heavily indebted people a second chance, reported RTS. Photo by Mikhail Nilov on Pexels.comAs an increasing number of people in Switzerland find themselves stuck in a debt trap, political pressure...