Swiss households burdened by a flood of bills Feeling the January slump in your wallet? You're not alone in this
The start of the year brings financial bottlenecks for many Swiss people - mainly due to a large number of bills. Young people, families and people on low incomes are particularly affected.
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- Around a third of adults in Switzerland spend less money in January, mainly due to bills such as taxes, subscriptions and insurance.
- Young adults, families and people with a lower level of education and income are particularly affected by the so-called January slump.
- According to Comparis, middle-income households are suffering particularly from rising health insurance premiums, as they receive less state support.
A good third of adults in Switzerland are feeling the financial pinch at the beginning of January. This was revealed by a survey conducted by the comparison portal Comparis, as the company writes in a press release. According to the survey, 33 percent of adults in Switzerland spend less money than usual in January. The reason for this is not expensive Christmas presents bought in December, but bills.
According to the survey, young people and families are particularly affected by the January slump: 35% of 18 to 35-year-olds report a poorer financial situation (in the over 56 age group, the figure is 26%). In households with children, the figure is 39 percent - in households without children, 30 percent. Lower levels of education and income are also more frequently associated with losses: 43% of those with an income of up to CHF 4,000 feel the January slump, and 26% of those with an income of over CHF 8,000.
Comparis explains this with bills that have to be paid in January. "At the beginning of the year, bills pile up in the inbox, many of which were already issued in December," explains Comparis financial expert Michael Kuhn in the Comparis press release. "For example, for motor vehicle tax, public transport and fitness subscriptions and insurance."
Rising health insurance premiums are also cited in the survey as a reason for the January slump - particularly in Italian-speaking Switzerland. Households with a gross income of between CHF 4,000 and 8,000 are particularly affected. "Low incomes receive state relief, for example through premium reductions or social assistance. The middle class, on the other hand, has to bear the rising costs themselves," says Comparis expert Kuhn.
