14 tips to save money despite inflation

Inflation gripped Switzerland tightly. Inflation has stayed at 3 percent year-on-year for weeks. That’s slightly lower than an international comparison, but for most people, it’s clearly in their wallets.

In addition: The inflation rate is only an average over the entire basket of inflation in Switzerland. Individual products or entire product lines have become significantly more expensive in the past year. First of all, energy prices are skyrocketing, making the prices of other goods and services more expensive.

Due to the rising fuel prices, the transportation costs of many goods are increasing, especially for daily needs.

This is how you determine the savings potential in the household budget

These are expensive times, so it pays to take a closer look at the household budget, make more informed purchases, or consider how savings can be used more profitably. Blick has 14 tips on this.

1. Examine major cost blocks

Housing, energy and insurance are the main cost items that put a burden on the household budget. When it comes to housing, there is usually nothing that can be done, but when it comes to energy, very little can be done. But Consumer Protection Foundation director Sara Stalder, 55, says there’s a lot to do with insurance: “It’s worth examining the insurance portfolio and eliminating unnecessary double or supplementary insurance.” Stalder says a change could save “several hundred francs a year”, especially in health insurance companies where insureds face a premium increase in 2023.

2. Communicate cheaper

Cell phone phoning and surfing just got a little more expensive. But Stalder advises: “Check with your mobile, internet, landline and TV provider, because really attractive offers are only available to new customers.” Also: Do ​​you really need every subscription for Netflix, Apple TV, and other streaming services?

3. Shop seasonally

Why buy exotic fruits and out-of-season vegetables in winter? They are usually more expensive than local products. Seasonal consumption saves money. You just have to be strong and not get caught up in the big distributors’ advertisements.

4. Cook yourself

It’s always cheaper to cook it yourself. “Those who plan the time for this save a lot of money and eat even healthier,” says Sara Stalder. For a carrot salad, a pound of freshly grated carrots costs just over two francs. An already processed and packaged carrot salad costs much more. Stalder also points out: “Does every visit I make to a restaurant really fit into my budget?”

5. Planning while shopping

Those who arrange their purchases according to the campaigns of big distributors drive much cheaper. Because campaigns are part of the retailer’s business model and will no longer go away. If you go to the supermarket hungry, you usually buy more than you need. So eat first, shop later! Stalder also advises: “Better plan your shopping and don’t go to the gas station late in the evening or on a Sunday.” Because shopping there is more expensive than the supermarket with normal working hours.

6. Package tour instead of individual tour

If you assemble your vacation yourself and book online, you have the greatest possible freedom of choice – but it comes at a price. While flight ticket prices have increased by 73.9 percent in the last year, international package tours have increased by only 28 percent. Because big tour operators can buy hotel rooms and seats on the plane much cheaper than any tourist thanks to their market power. In addition: If something goes wrong, the travel agent helps – this saves a lot of trouble.

7. Travel outside of school holidays

The first two weeks of summer vacation are the most expensive. Everyone wants to go to the sea as soon as possible. If you are not tied to a specific time, you should travel outside of school holidays. Prices are cheaper, the choice is usually larger. The same applies to the winter holidays. If you can, use it in the off-season.

8. Cars and trains instead of planes

A family of four pays the horrendous surcharge of the fuel price four times for each ticket. If this family sits in the car, the increased costs to fill the tank are spread across four people. Also, gasoline is cheaper in most of the neighboring European countries than in Switzerland. Traveling by train is also more environmentally friendly and avoids the chaos of traffic jams at airports and highways. And those who go on vacation in Switzerland are saving on gas and paying even less for holiday apartments as prices have actually dropped.

9. Save energy

Those connected to the gas grid can’t avoid skyrocketing prices. But taking a slightly shorter, less hot shower saves money. When buying heating fuel, you should examine it thoroughly and fill the winter tank on time.

10. It doesn’t always have to be the latest smartphone

Global supply problems are making many electronic devices more expensive, and there is a shortage of computer chips everywhere. Therefore, it is not always worth buying the latest gadget. You can also take great vacation photos with an old smartphone. In addition, the performance of the battery and processor has improved so much in recent years that the differences with the latest model are usually not that great.

11. Waiting before buying a car

The cars are also missing chips and other components. This delays delivery and makes new cars more expensive (5.8%). Used cars are in high demand and prices are rising (17.8 percent). So if you use your old car longer, you will save a lot of money.

12. Wear longer dresses and shoes

When was the last time you cleaned your closet? Even! Such a campaign often yields long-forgotten beautiful items. These treasures are still flattering and as trendy as the new part of the online store. Clothing and shoes increased only modestly (+2.6 percent), but there are also outliers such as women’s and especially children’s shoes. A visit to a children’s clothing store or thrift store can certainly be beneficial.

13. Sharing instead of buying

“Sharing platforms or the ban on lending are becoming increasingly popular in Bern,” says Sara Stalder. Because what applies to cars also applies to many household appliances. Not every house needs its own ice cream maker, high-pressure cleaner, drill or lawnmower. The sharer saves money and chats with his neighbors.

14. Invest despite inflation

Rising interest rates, inflation, Corona in China or the war in Ukraine are poison for the stock market. Stock markets have been sharply corrected. st. “The main goal now must be the preservation of real capital value,” says Thomas Stucki, 59, head of investment at Wales Kantonalbank. And he adds: “In times of inflation you have to think long-term, in these difficult times markets often overreact.” This means whoever sells now will lose even more money, the point is to keep the crisis out. But neither solution has too much cash in the account because that provides security, but it depreciates due to inflation, Stucki says. You can invest money you don’t need in stocks, such as regular dividends, gold or bonds. Because they are still more profitable due to rising interest rates.