After 2023 saw consistent cost rises for rent and health insurance, families in Switzerland are really feeling the pinch in 2024, a new survey from umbrella organisation Pro Familia has found. Just over half of households in the alpine nation said they worried about making ends meet, with most planning to work more or spend less to compensate.

Just over half of families in Switzerland worry about finances

According to the survey of 2.123 families located across Switzerland, 52 percent believed that their current salary or income will either barely, or not at all, cover the cost of living in 2024. This amounts to a 5 percentage point increase compared to the beginning of 2023.

The study noted that the figures are much higher “in Italian and French-speaking Switzerland, in single-parent households and those with incomes equal or less than 100.000 francs” a year. 30 percent of parents said that they can save no money at all every month, 2 percent more than in 2023.

Cost of living in Switzerland: Families planning to spend less and work more

In many cases, families are choosing to cut back on spending to accommodate rising prices for health insurance, utilities and rent. 43 percent said they were planning to not go on holiday this year while 35 percent said they would forgo restaurant visits. Most worryingly, 11 percent said they are planning to avoid using healthcare in order to save money.

On the flip side, 49 percent of households said they plan to increase their income by working more in 2024. 35 percent said that one parent will try and find a more profitable job, while 14 percent reported that both parents will look for more gainful employment this year.

Pro Familia: Working more only possible if childcare costs are cut

Speaking to SRF, Pro Familia director Philippe Gnaegi said that while “the labour market is ready to accept these new people” amid the continued shortage of workers, parents face a key challenge. He argued that to work more, parents will have to be able to pay less for childcare, which can cost thousands of francs a week, especially in Swiss cities.

Swiss Employers’ Association economist Simon Wey agreed. He told SRF that while he wasn't surprised that parents said they were willing to work more, he predicted that only the most desperate would follow through. The reason? He noted that in many cases, the salary increase given for working more is less than the extra cost of more childcare.