Practical Tips for Smarter Spending

Creating and maintaining a personal budget is the foundation of good financial management. It helps you see where your money goes each month and identify areas where you can save. For students and apprentices, this is especially important, as even small adjustments can make a big difference over time.

There are many helpful tools available to make budgeting easier, such as the Budget Calculator and Budget App from Budgetberatung Schweiz. These tools allow you to track income and expenses and give a clear overview of your financial situation.

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When managing your budget, it’s useful to understand the difference between fixed costs and variable costs:

• Fixed costs are regular expenses that stay the same each month and are usually tied to contracts. These include rent, insurance, or a mobile phone subscription. They are harder to change because they often require canceling or renegotiating agreements.

• Variable costs, on the other hand, are flexible expenses that can be adjusted more easily. These include things like food, leisure, clothing, or transportation. Cutting back on these can often lead to quick savings.

A smart budgeting habit is to regularly check what services you’re actually using. For example, many people pay for mobile or public transport subscriptions that include features or zones they don’t need. Reviewing these details can prevent unnecessary spending.

Students, apprentices, and young adults should also always check for student discounts before signing any contracts or buying subscriptions. Many Swiss companies — from gyms to streaming services to public transport, offer reduced prices for students, which can significantly lower monthly costs.

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                                                             Housing Costs

One of the biggest financial challenges for young people who move out from home is housing. Rent often takes up the largest portion of a student’s monthly budget. According to the Swiss Budget Consulting Federation (Budgetberatung Schweiz), average housing costs for students living in a shared flat range between CHF 950 and CHF 1,630 per month.
Source: Budgetberatung – Richtlinien für Studierende

To help with this, there are several student housing platforms specifically for Lucerne, such as studentroom.ch and studentenhaus-luzern.ch, where students can find rooms and shared apartments at fair prices. From a financial perspective, however, it is still advisable to live with your parents as long as possible; this is one of the simplest ways to save a significant amount each month.  (check out our website for tips on housing.)

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                                            Everyday Expenses and Food

Aside from rent, personal expenses such as clothing, electronics, and food are the next biggest spending areas. One of the best ways to reduce these costs is to buy second-hand. Whether it’s clothing, furniture, or electronics, second-hand and refurbished items are cheaper, more sustainable, and often just as good as new. It’s also worth checking if broken devices can be repaired instead of replaced.

Food is another area where costs can add up quickly. Bringing meals from home instead of eating out daily can save hundreds of francs per month. According to Budgetberatung Schweiz, the cost of eating out is often underestimated in personal budgets.

A great way to save even more and help the environment  is by using the Too Good To Go app. It connects users with restaurants, bakeries, and stores that sell unsold food at the end of the day for a much lower price. This not only helps reduce food waste but also offers students an affordable way to eat well. (check out further on our website for more shopping tips)