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Gain controlYoung people get into debt because they misjudge their finances. It's a good idea for them to budget to ensure that they are not constantly spending more than they have. This gives them control over their income and expenditure and helps them develop a feeling for what they really need. |
At around 20 years of age their spending seems to explode. Young people then often run the risk of spending their money without knowing exactly what on. A budget and expenditure plan can be very useful here.
In contrast, those who have their finances under control do not live beyond their means and know when to say no. If their account isn't looking too healthy, they find other pastimes that don't cost as much as shopping or trendy sports.
Learn to budget
Our Budget Calculator shows you what should be included in a budget. In addition to rent, anyone not living at home will also pay additional costs such as heating, phone and electricity. And don't forget to include expenses for third-level education, and any money set aside for unexpected expenses such as dental treatment, holidays or taxes. The rest can be used for hobbies, going out and having a good time – the area in which most young people get into debt.
Education and prevention
There are various bodies and initiatives that help young people learn how to handle money responsibly. One example is the Raiffeisenbank "Moneymix" project, which shows secondary school students how they can achieve a realistic debt-free budget. The project also aims to show them how to rein in their spending and avoid debt traps.
Maxmoney.ch is a Switzerland-wide campaign that looks at money issues. The aim of the project is to encourage young people to think about their financial situation.
GE, the operator of this platform, also supports preventive measures and is an advocate of education in the fields of finance and business. In conjunction with Young Enterprise Switzerland it runs programs in schools aimed at promoting entrepreneurial thinking and careful money management and also helps students apply for trainee or apprenticeship positions.
Save and set goals
Even if they don't earn much or only get pocket money, young people should still set themselves savings goals. Short-term goals such as a vacation or getting their driver's license will motivate them to save. Even a small, well-placed savings amount can help them realize their wishes. Later on, longer-term dreams such as buying a car or having their own apartment can also be realized in just the same way.
Further information
Moneymix
Maxmoney.ch
Young Enterprise Switzerland
schulden.ch
Budget planner for apprentices
Savings tips for young people from young people
In contrast, those who have their finances under control do not live beyond their means and know when to say no. If their account isn't looking too healthy, they find other pastimes that don't cost as much as shopping or trendy sports.
Learn to budget
Our Budget Calculator shows you what should be included in a budget. In addition to rent, anyone not living at home will also pay additional costs such as heating, phone and electricity. And don't forget to include expenses for third-level education, and any money set aside for unexpected expenses such as dental treatment, holidays or taxes. The rest can be used for hobbies, going out and having a good time – the area in which most young people get into debt.
Education and prevention
There are various bodies and initiatives that help young people learn how to handle money responsibly. One example is the Raiffeisenbank "Moneymix" project, which shows secondary school students how they can achieve a realistic debt-free budget. The project also aims to show them how to rein in their spending and avoid debt traps.
Maxmoney.ch is a Switzerland-wide campaign that looks at money issues. The aim of the project is to encourage young people to think about their financial situation.
GE, the operator of this platform, also supports preventive measures and is an advocate of education in the fields of finance and business. In conjunction with Young Enterprise Switzerland it runs programs in schools aimed at promoting entrepreneurial thinking and careful money management and also helps students apply for trainee or apprenticeship positions.
Save and set goals
Even if they don't earn much or only get pocket money, young people should still set themselves savings goals. Short-term goals such as a vacation or getting their driver's license will motivate them to save. Even a small, well-placed savings amount can help them realize their wishes. Later on, longer-term dreams such as buying a car or having their own apartment can also be realized in just the same way.
Further information
Moneymix
Maxmoney.ch
Young Enterprise Switzerland
schulden.ch
Budget planner for apprentices
Savings tips for young people from young people
