Hi all i am fairly new in switzerland and i just paid my yearly insurance for car and taxes for it. I wanna be prepared for next year and dont want to hold cash monthly for this, at the Kantonalbank there are no such „Unterkonten“ to put the amount there… just one saving account but i want to separate savings with yearly costs.
How do you solve this issue? Thank you all in advance
@savinghopexx Maybe unique, but.. I timed most so they coincide with big income months. 13th salary goes to health insurance, car insurance and some more. Another big blob is in June/July from my side hustle - straight to taxes. Other than that, I budget with Excel and just hold cash for some odd months.
@savinghopexx Yuh allows you to make different savings accounts for different topics. They currently also pay a high interest compared to cantonal banks. No running bank fees.
@savinghopexx Why not hold cash? You sleep well. Standard hint is to hold 3 months of salary anyway.
You don't get interest, or not a lot, but that's just the price to pay and in most cases is less than a small three digit number. If you optimize down to this sum, there are other and better ways (FIRE folks excluded, but I assume they know how to manage liq).
@savinghopexx Open more saving accounts. Usually they're for free anyway. Only problem - take a look what is one time pay out limit. Some banks give just 10k, what might be not enough for taxes + other yearly expenses, if coming same month.
@savinghopexx Up to the kantonalbank and/or monthly costs you have. As example AKB no longer has acc fees just for having it,so you can have like 10 if you want...
@savinghopexx How hard can it be to always just lave a few 1000 CHF in your account? I don't understand how people can have absolutely no self-control....
