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COST OF LIVING

The Swiss websites that can help you save money

You may think that ‘lower prices’ and ‘Switzerland’ should never be mentioned in the same sentence. But online resources can actually help you save on some purchases.

The Swiss websites that can help you save money
There are good online resources in Switzerland for saving money. Photo: Pixabay

True, getting ‘cheap’ stuff in one of the world’s most expensive countries is not a given. But it is not impossible either.

Depending on what you are looking to purchase, certain sites will either compare prices of goods available at various retailers, or show you where best deals are at the moment.

Let’s start with the most ‘essential’ purchase of all: food

There are no sites as such to tell you the current prices at all Swiss supermarkets, but you can do your research fairly easily.

Just look at websites of al major supermarkets — Migros, Coop, Aldi, Lidl, and Denner — and see which products are discounted on any given day or week.

The same applies to the two chains known to be on the more expensive side — Coop and Migros.

Their respective ‘budget’ lines, PrixGarantie and MBudget, are cheaper than their ‘regular’ assortment. 

And keep in mind too that sometimes best deals can be found in smaller grocery shops.

READ ALSO: Why it might be cheaper to avoid the big supermarkets in Switzerland 

Appliances, electronics, and sports equipment

To find the lowest prices in this category, two websites will be helpful: Preisergleich.ch and Toppreise.ch

According to Moneyland consumer platform, these two sites “compare the going prices at many major Swiss retailers. Comparisons primarily include online retailers, and retailers which have both online and offline stores.”

Insurance

Before you take out any policy, whether the obligatory health (KVG / LaMal) or car insurance, or supplemental plans, you can compare their prices versus what coverage they offer.

Though the cost the basic KVG / LaMal is the same for everyone in your canton, (based on your age and co-pay deductible you choose), complimentary policies are priced differently, depending on what services they cover.

You can compare them on Bonus.ch, or FinanceScout24

Internet and mobile plans

You can compare Internet plans which are available at your exact address, and the Internet speeds you can actually get, as well as mobile plans on Bonus.ch  and Dschungelkompass.ch

Hotels

If you are going on holiday or just away for a weekend, the price of a hotel room in Switzerland, especially in popular tourist destinations, can cost quite a lot.

While you may not necessarily find a really cheap room in a decent hotel (or location), these sites will let you see what’s available, where, and at what price:

Switzerland Tourism 
Ebookers.ch 

Overall, there are two Swiss sites that offer price comparison on almost all services in Switzerland.

They are Comparis and Moneyland.

And also…

If you sign up at rabattcorner.ch, you will get discounts thanks to cashback and vouchers in more than 798 online stores, including Manor and MediaMarkt. You can also benefit from travel discount on SWISS airline, and other travel, leisure, and gastronomy options.

READ ALSO: Six essential tips that will save you money in Switzerland

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MONEY

What does the latest interest rate cut in Switzerland mean for you?

The Swiss National Bank (SNB) announced on Thursday its second interest-rate cut of 2024. What does this mean for consumers?

What does the latest interest rate cut in Switzerland mean for you?

After cutting the interest rate in March 2024 — from 1.75 to 1.50 percent — Switzerland’s central bank slashed the rate by another quarter percent to bring it down to 1.25. 

Is this a good sign?

Mostly yes.

Firstly, it signals that inflation has fallen — which is definitely a positive development.
 
The SNB, did, in fact, lower its average annual inflation forecast for the rest of 2024  — to 1.3 percent, from 1.4 percent previously.

How will you be able to benefit from this move?

Much depends on whether you are planning to spend your money or save it.

If you are looking to buy big-ticket items that are usually purchased with credit — like homes or vehicles, for instance — then you are in luck.

That’s because when a central bank lowers its interest rates, loans become cheaper. So if you qualify for a loan, this is a good time to apply for one.

In terms of mortgages, they are likely to become cheaper as well when interest rates drop.

This, however, is only the case for new mortgages or ones that are due for renewal.

If you have a fixed-rate mortgage which is not up for renewal, then you will not be able to benefit from lower interest rates.

What about rents?

With the interest rate turnaround — and given a positive forecast on the inflation front — there will probably be no further hikes in the reference interest rates that determine rents in the immediate future.

As to whether you are eligible for rent reduction, that depends on whether your rent is tied to the interest rate — as some 54 percent of contracts are in Switzerland.

If that is the case, and your costs went up when the interest rate did, you can normally seek a reduction.

Keep in mind, however, that factors other than the interest rate come into play in determining rents.

Such factors could include an increase in the cost of building maintenance or insurance, for example.

When is a lower interest rate not a good thing?

If you have money in the bank and depend on it ‘growing’ — that is, yielding profits, you are not in luck.

As the interest rate dwindle, so do returns on your assets.

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