Rent for communal dwelling, tuition fees, a new laptop: if you start your student life after completing school, you will quickly be confronted with some high expenses. Many people find it hard to put money aside. Swiss Life shows how students can still keep their costs at a reasonable level.

1. Budget planning for students

Budget planning is a simple but very effective savings tip. It's worth writing down and comparing your income and expenses. This makes "expense traps" more visible and makes you more aware of your savings potential. If the thought of keeping a notebook sounds too old fashioned, there are many free apps you can also use to manage your finances. 

2. First save, then spend

Do you have a student job? If possible, put some of the money aside – and do it just after you are paid. If you set up a standing order with your bank to pay into a savings account, you won't even be tempted to spend the money. Even if you can save only a small amount: if you incur unexpected expenses, for example repair costs for a broken laptop, it’s good to have a financial buffer to fall back on, no matter how small. 

3. Use online student discounts

Whether mobile, fashion or music streaming: there are numerous online student discounts that are more than worthwhile. In some cases, even the students’ parents benefit from the discounts. To access the offers, it is usually necessary to prove your student credentials with the provider. Special voucher codes can offer discounts of about 20 percent.

Our tip: before making an order online, it’s worth asking the search engine whether the provider offers a student discount.

Despite digitalisation, there are still of course also some "offline student discounts," which you can enjoy at the cinema, theatre or museum. Don't forget your student ID!

Tip

Use your student discount to buy a laptop

Some Swiss online shops offer cheap laptops with student discounts or even specialise in student laptops. It’s worth making comparisons: you can often find high-quality and high-performance devices with big discounts. Again, don't forget your student ID.

4. Student bank account

Some financial institutions waive the account management fees or offer a small sum of money as a thank you gesture for opening an account. Find out at the bank of your choice.

5. Compare health insurers

It's worth comparing your health insurance premiums regularly. The choice of model can also have a major impact on the premium level. Insured persons in the Telmed model, for example, receive a premium discount of around 15 to 20 percent.

The basic insurance can be terminated every year by the end of November. So analyse your health insurance needs before then. How often do you go to the doctor? What types of treatment do you prefer? Do you value supplementary insurance? 

Interview with students: what do they prefer to save for?

Street survey in 2019 on the subject of "students and future provisions"

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