What is the relationship between your income and expenditure?
The unexpected can put a strain on your finances. Budget planning protects you from surprises.
BANK-now's budget template, which includes tips, is available to download for free and will give you a good overview of your overall personal expenditure.
It is not always easy to maintain the balance between income and outgoings. Who hasn't been surprised by a tax bill? Who hasn't been amazed at the amount of the final bill for your heating and ancillary costs? Who hasn't had to find a solution for an unexpected health insurance deductible or a hefty tradesman's bill?
To make sure that you are protected from unpleasant surprises, it is worth taking a closer look at what you earn and what you spend. Keeping a handle on your household budget is a resolution that always pays off – not just when January 1 rolls around. A budget is useful in many situations. It can help to give you an overview if you are struggling with financial problems. But even if your income is significantly higher than your outgoings, listing all the expenses in detail can help you to really optimize your spending. People are often completely unaware where their money is going. If you see a specific amount in black and white on a piece of paper or digitally in a table, it is easier to understand the figures.
The BANK-now budget template helps you to understand your finances. It provides you with a simple overview of all cost items to consider in a budget and enables you to create a precise, individual household budget.
After downloading and filling out the template, you will quickly see which areas you spend the most money on and where there is potential for savings. Do you really need all those subscriptions? Are you perhaps over-insured or even double insured in certain areas? How much do you actually spend on going out and shopping? Have you planned reserves for the unexpected, such as the vet, the optician, or the dentist?
Unnecessary expenses also include high credit card interest rates of up to 12% currently. For larger amounts of CHF 5,000 or more, taking out a personal loan is a better option as the interest rates are usually significantly lower than those offered by credit card providers. Incidentally, the interest on personal loans and credit cards can be claimed as a tax deduction.
In order to maintain a better overview of your financial situation, it also makes sense to limit yourself to one contact person when it comes to loans. Upon request, BANK-now can repay your current loans with other banks or credit card institutions.
BANK-now is also happy to help you with your individual budget planning in a personal consultation. Simply arrange a consultation via the adjacent link.