The Federal Statistical Office regularly surveys the household income of Swiss citizens. At the end of 2018, SRF reported on the latest figures: On average, we have a household income of around CHF 10,000 and a savings amount of around CHF 1,500. In other words, a savings rate of 15 %. Readers’ comments immediately went into overdrive.
“There must be another Switzerland that I’m not aware of,” writes Jeanôt C. And Manfred P. asks: “What family with 2 children puts aside 1,200 francs a month?” But the BfS figures don’t lie, it’s just the way they are presented that is irritating.
The average is generally of little use to the individual. Yes, we can see whether we have more or less money available than the average. However, it’s difficult to ask the average how they manage this. Because you rarely meet the average person on the street, on the streetcar or at work, let alone in a café or going out, and they never answer the phone. The average simply does not exist in reality.
“The differences are large in reality”, the FSO commentary also states. The savings potential of a childless couple compared with single parents is cited as an example. The latter have virtually no savings potential. SRF also reassures in a commentary: “You are right. According to the BfS, 59 percent of all Swiss households have to make do with less. We used the average income as a benchmark because the Federal Office did not provide the median value.”
What statistics tell us about household income
At this point, we dare to suggest that people probably dislike the median value just as much as the average. For those who are interested, the median tells us how much the household that lies exactly in the middle of the distribution earns. If, for example, we had only surveyed three households and the one with the lowest income stated that it had 4,000 francs at its disposal, the one in the middle 8,000 francs and the one with the highest income 30,000 francs a month, then the median value would be – yes, exactly – the middle: 8,000 francs. However, the average would be 14,000 francs, as this is calculated differently: All incomes are added together and divided by the number of households.
What the BfS did provide is the quality of the estimated values, i.e. a statement on how much the values vary – in other words, how big the differences between households are. And these are sometimes considerable. Depending on how incomes are distributed, the figures are more or less meaningful.
What you can do with your household income
We also see big differences in the household budgets of our users due to their current living situation. And we are also often asked for comparisons. However, we think it’s more important for you to look at your own financial situation.
It is understandable that emotions run high with statistics like these. There are probably many of these outliers among the comments. Pensioners in particular seem to be affected and react. “We are two people and have to try to live on 4,000 a month gross,” writes Walter M. “That’s bitter, no question about it.
But what can you do? Daniele R. puts it in a nutshell: “What do I care whether this statistic is right or wrong?”. Statistics can calm you down or upset you, but in the end the question remains what you make of your very own situation. The proven remedy for financial frustration is financial planning. Get an overview and then take action.
Carry out financial planning at the turn of the year
Do you know how much you have left over at the end of a calendar year? Have you ever drawn up a household budget for yourself or your family? If not, the next best time is now! Firstly, because “now” is always the best time to tackle your finances. Secondly, because you can take stock at the turn of the year and plan your savings for the coming year, for larger future purchases or simply for old age.
Our statistics show that everyone who takes care of their finances is 100% better off.
Mach den ersten Schritt zur finanziellen Unabhängigkeit
In einer Minute siehst du deine Vermögensentwicklung und dein Einkommen während der Rente.
Last update: 17.09.2024 08:34
