A person puts a coin in a piggy bank in the shape of a pig after Milenia's advice.
27.07.2022

Cut back on your expenses and save money. Here are our tips!

Think of your expenses in the form of a bonsai, hedge or plane tree. The better your size, the better your budget is controlled. Here are some tips.

 

First of all, what are the right gestures to plan before pruning? 

The first step to take is to analyze the situation. What are your resources? What are your expenses? What is the deadline?

You may think you know the status of your expenses and income, but taking 15 minutes to list them will allow you to have a certain degree of clarity on the project to be undertaken.

It's simple. In the left-hand column, your monthly income. In the right-hand column, your monthly expenses. Don't forget your quarterly, semi-annual or annual fees. Simply divide to the twelfth to include the amount in the corresponding column.

If your balance is negative or close to 0, it's time to get to work. Depending on the final result statement, the time frame to begin the work may be short or longer.

Here are a few tips:

Plan for an 'unexpected expense' item. Estimate it at 5% of your monthly income.

Don't underestimate the 'miscellaneous' item. This often includes small everyday expenses that are regularly forgotten or minimized.

Plan a second version of your comparison; a version in which your income is reduced by 20% or 30% depending on your marital status. No, we don't want to be a bird of ill omen, but losing  a job is always a risk to consider.

 

You are close to equilibrium. Still, it's time to prune your bonsai.

Nothing dramatic to be expected, but you might as well plan ahead. A pair of scissors will suffice.

We're in the business of tricks. Here's what we offer:

Make an effort to compare your phone provider's offers. It is often the same provider that takes care of your internet network and your TV package. These are often nice promises when you sign up for your subscription, but this market is hyper-competitive and better offers are regularly available. 

Speaking of TV packages, do you remember that channel you ordered in addition to your package and that you almost never watch? Cancel it. There are no small savings.

Do you have an eco-friendly streak? Good! Lower your thermostat by one degree. You'll be doing good for the planet and your wallet. 

Is going to the recycling centre your favourite activity of the weekend? Take the time to look at what you're throwing away and ask yourself if you should sell your used items instead. You'll be amazed at the interest shown in an old kettle, an old baby seat, toys lying around, clothes you were wearing...

Do you have the Migros card? Use it. No, it's not cheesy. Yes, it can save you money on your purchases. It's not just Migros, of course. It also works with other food giants.

Speaking of food. Take a meat cure if you're a carnivore. You will see the impact on the receipt.

Find out how much your pension costs to be. Play the competition. Sometimes there are nice surprises!

 

You're in the red. Nothing too serious but still... The hedge will have to be trimmed, and quickly.

Scissors won't cut it. Let's go with the chainsaw!

An important item of expenditure is transportation. Your vehicle is at the top of the podium. The question is, can you afford it? We're not yet at the point of eliminating your car from the calculations, but it would be a good idea to see if savings can be made. Another displacement? A vehicle that consumes less? Something smaller? Swapping your sports car or SUV for a small city car may not be exciting, but you can quickly save hundreds of francs on your monthly lease.

Holidays on a paradisiacal beach in Asia? Opt for the beach of Préverenges or the swimming pool of Lausanne. The water is less turquoise and the sand less fine, but you will still have a great time with your family.

Do you like gastronomy? Drive past the latest trendy restaurant, watch Top Chef, and try it out at home. It won't be a star-studded experience, but your Visa card will thank you! While we're at it, lower your credit card spending limit.

Sometimes, you also need to know how to invest. Investing capital to reduce monthly expenses can make sense:

Study the energy quality of your home. If your property is underperforming, you will certainly pay significant heating costs. Think boiler replacement, thermal insulation, double or triple glazed windows, the installation of a heat pump... 

Do you do your taxes alone in your corner? Consider hiring a fiduciary or accountant. Review your financial situation. You'll probably have to pay for this service, but it's worth seeing where you can optimize your return. Transport costs, daycare, interest on a property purchase, training... everything is good to consider.

 

Is the situation critical? Grab your axe!

In this case, you have to aim for the big positions. Your rent, your vehicle.

The plane tree needs to be cut down and you need to consider the big means. Negotiate an early departure with your landlord, aim for less expensive accommodation. It's not necessarily pleasant, but you'll bounce back later.

Do you have two vehicles? Consider the feasibility of having just one. Do you have only one vehicle? Compare the cost of a transport subscription with the costs generated by your car (petrol, maintenance, insurance, leasing, bank loan, etc.). This is obviously not an easy choice and your habits will have to change, but it is often a significant cost in households.

 

What if we restructured your debt?

Sometimes it's enough to have a break. A period during which you reduce your monthly payments related to one or more loans. Depending on your budgetary reality and while planning to apply the tips and advice mentioned above, you can discuss spreading your credit or consolidating your credits into one.

In most cases, only a few administrative fees will be charged. In some cases, you don't even have to pay an amount for this service.

This is an opportunity to reformat your loan so that your repayments are more in line with your cash flow. In the context of consolidation, this allows you to have a single point of contact, a single monthly payment and possibly to be able to discuss the borrowing rate applied.

 

Trust!

In the end, that's the key word. Confidence in your ability to rectify the situation if necessary. Confidence that you will be able to make the right decisions to avoid over-indebtedness.

If you need a helping hand negotiating with your creditors, we will be able to direct you to  a partner of choice, in particular Solvable, a company specializing in this type of situation.

Trust again if you prefer to review your credit options. Milenia has a leading financing platform in  the credit industry and its team will be able to advise and support you in your credit efforts. 

Whether you are a bonsai, hedge or plane tree, there are solutions. When it comes to a loan and a personalized follow-up, you can count on our expertise. With confidence! 



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09.01.2024
Telecommuting: flop or not?

Since the Covid pandemic, companies have multiplied remote working methods. The most widely used is telecommuting. Two years later, has this method been successful?

 

Let's take a step back

During the lockdown, the world of work experienced a real shift.

Companies had to adapt and various means were put in place to ensure the continuity of services, sales, and the very functioning of the organization.

Do you remember?

The famous cardboard box filled with a computer, a mouse and a screen that the employees took home...

We somehow settled down somewhere in our apartment or our house.

The less fortunate had to sit on an old table at the back of their bedroom.

Children screamed in the background and parents had to juggle their work responsibilities with those of being a mother or father.

Ah... What wonderful memories!

In addition, the schedules became confused. There was no beginning and no end. We were already connected before, but now the workplace had invited itself into our home, into the family, into our home.

However, not everything had to be thrown away.

The doctor's appointment, the receipt of the Zalando package, the visit of the plumber... What required us to take time off or organize ourselves differently simply fit into his work schedule, on site.

Above all, no more time wasted on the road or on the train. We earned two hours of our living every day. That's no small feat...

We weren't the only ones. Hundreds of millions of people around the world, by obligation or freely, switched to this new way of working.

It was necessary to put in place state-of-the-art technological and IT infrastructures to enable more secure virtual exchanges of information via videoconferencing or e-mail.

It was necessary to set up a teleworking policy to give directives on working hours, the availability of employees and managers so as not to be too intrusive in private life.

Finally, regular reviews were required to assess the effectiveness of telework policies and gather feedback from employees.

The big winners? Zoom, Teams, Skype, Webex... It was a good time and the number of users exploded

 

Video conferencing platforms

In order to establish clear and effective communication channels, it is necessary to have instant messaging and video conferencing tools to maintain smooth communication between team members. This transition is being made by different players who bring specificities specific to each sector.

You may have seen that.

Some companies will use the Zoom platform, which allows simple video conferences with a discussion thread, which is easy to use and not very connected to other services.

Others will use Microsoft Teams or Webex, which offer more integrated and secure business solutions.

Skype and Google Meet round out the market leaders, at least in Europe.

 

And what about employers?

The main fear of some employers during this pandemic?

Decreased productivity.

The prevailing thought was that employees, less supervised than before, would work less given this new organizational freedom.

The endless breaks, the last-minute shopping, the Netflix binging...

We're not going to lie, the majority of teleworkers have taken advantage of this to better combine professional and personal needs.

There have been many productivity studies, too many to mention here.

In the end, productivity dropped slightly on average, but this varied enormously depending on the functions and responsibilities.

Profiles whose tasks were recurrent completed their work more quickly and, not needing to do more, to take advantage of the time available to go about their personal business.

Others worked even harder, especially early in the morning, late at night, or on weekends.

Where some managers suffered from a lack of supervision (monitoring?) of their teams; Some employees did not take well to the distance, the lack of clarity on the establishment of rules... All of them missed interpersonal relationships and this may have impacted the corporate culture and sense of well-being.

In conclusion, there is neither one statistic valid for everyone nor a representative feeling of all employers and employees. However, there is no doubt that the world of work has changed and the effects continue today.

 

Exactly. And today?

Companies are adapting to the demands of employees, especially young people entering the workforce.

They demand flexibility, adapted schedules and, yes, telecommuting.

In Switzerland, the job market is in favour of job applicants. Companies must therefore remain attractive and take these demands into account.

Companies are implementing hybrid work modes that allow the employee more time to work from home but require them to be present for a certain number of days in the office. Again, there is no single rule.

Some organizations simply refuse the principle of remote work.

Others impose a fixed day of attendance.

Some leave the choice to their teams.

One thing is for sure, remote work is here to stay, in one form or another.

More than controlling productivity, more than managing teams and workloads, the real challenge is to keep the links between employees, to ensure proximity between managers and their teams.

Finding a balance between the attractiveness of the employer brand, individual well-being and the needs of the company; This is where the effort must be directed for the future.

 

At work and at home, Milenia is always available

Accessing credit through our financing platform has never been easier.

Everything is within your reach, with customization according to your projects, we accompany you from start to finish so that your projects can see the light of day.

For your personal loan, we offer the best market conditions with 0 application fees. Everything is designed to make your life easier.

Your loan application can be done entirely remotely, with support from your personal advisor or both at the same time.

The flexibility, adaptability, personalization of your offer... All of this is embedded in our approach and services.

As the leading credit player in Switzerland, place your trust in us so that your personal dreams and projects come true.

 

 

 

 

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17.01.2022
ompare credit offers. It has to be prepared, it has to be done calmly and it has to make sense.

When it comes to your money and a contractual commitment, there's no need to rush. Here are some tips to help you make the right choice.

 

What exactly are we talking about?

When you want to finance a project, there are various solutions available to you. Credit is a relatively simple financing tool, quick to execute and with a light administrative burden.

For further clarification, a credit is also called consumer credit, personal loan, loan, private loan, etc. This is a loan of a sum of money by a creditor to you, the debtor. The amount in question must be reimbursed within a time limit agreed between the parties. An interest rate is calculated in addition to the principal to be repaid in order to remunerate the services of the creditor, a bank in most cases.

As this is a form of financing that does not require a down payment or guarantee, the rate applied varies according to the amount borrowed, the quality of your file and the repayment period.

Financing platforms such as Milenia are used to offer the best rates on the market and to support you in your efforts. You don't pay anything for this service; The remuneration of these platforms is ensured within the framework of the agreements with the partner banks.

 

Before you compare, ask yourself two questions.

Is credit the right solution for my project?

Am I eligible?

The first question has the merit of judging the relevance and usefulness of your approach. As a responsible service provider, we put your interests at the heart of our attention. Over-indebtedness must be avoided at all costs and your loan must bring real added value and not represent a debt that is difficult to overcome.

Can your project be scaled back? Does your cash flow simply allow you to avoid taking out a loan? Is it the right time?

These are all useful questions that allow you to judge whether or not you need to move forward.

The second question is also important.

Your advisor will be able to support you in this reflection, but you can already eliminate some doubts:

Am I domiciled in Switzerland? If not, you will not be eligible.

Am I of legal age? If not, you will not be eligible.

Am I involved in an action filed in the debt collection? If this is the case, you will not be eligible.

 

One egg, one basket.

If you want to continue with a credit application, don't rush!

Above all, do not file multiple applications with different providers or banks.

Each request is logged and will block your access to a favorable response.

Compare, choose your financial partner wisely and, if the conditions are met, draw up your file with them.

To make a fair choice, take advantage of the service offered by a financing platform. It's online and it's easy.

 

Compare what, exactly?

The quality, the network, the accessibility and, of course, the conditions.

By quality, we mean the clarity of the information provided and the transparency of the platform. 

Are there testimonials from satisfied customers? Is there an independent quality body involved, such as Proven Expert? Is the team running the company clearly displayed? Is the company based in Switzerland?

As far as  the network is concerned, the quality and scope of the network will determine the quality of the offers offered to you. Check the partners page or search for published articles or the platform's blog if it exists. 

It is preferable to do business with a major player in the market that has serious, even exclusive, partnerships with recognized banks.

Accessibility. An online solution is often less time-consuming and just as relevant as if you went to an agency. However, it will be necessary to speak with an expert, go through your file in person and have live advice. 

Be sure that you will be able to access this service.

Lately, the conditions. The rates displayed on the various platforms are often similar. There are criteria to be met, however, and these often make the difference.

First of all, the process until you sign the loan agreement must be completely free of charge! Whether you visit a credit comparison platform or a financing platform, run away if you are asked for a single franc for so-called administrative or processing costs.

Secondly, do not sign anything when you are in a comparative or information-seeking process. Your file must first be well completed and analysed and it is only when you make a credit proposal following the acceptance of your application that you will have the opportunity to sign or not.

Finally, a 0.10% lower rate does not necessarily mean a good deal. All of this must be considered. The quality of your relationship with your advisor, the seriousness shown when drawing up your request, the choice of partners... Confidence and peace of mind knowing that you are in good hands is far more important than a tiny spread in the rate offered.

 

Do you have any questions?

We invite you to inquire via Milenia. You will have the opportunity to simulate your credit, learn about our solutions, get to know our team, ask your questions, browse through our customer testimonials and discover our articles on our blog.

Take your time, compare and when your choice is made, we will be at your side to carry out your project. Under the right conditions, with confidence and transparency.

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Interview with Dominique Loparco: When enthusiasm and perseverance overcome the effects of an invisible disability.

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Loan illustration: loan of CHF 10'000. Effective annual interests rates between 4.9% and 11.95% over a 12 month period lead to total interests of between CHF 261.80 and CHF 624.80. Duration: 6-120 months; Maximum annual interest rate (including all loan handling costs) 11.95%. Loans approval are prohibited if they lead to excess debt for the consumer. (Art. 3 LCD)

 

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