Health, Security, and More: When Saving Money Is Not the Highest Priority

December 15, 2025 - Dan Urner

Saving money whenever possible is important, but there are situations in which being too thrifty can bring more harm than good. In this guide, moneyland.ch lists some of the things that you should not skimp on.

If you want to build up your personal wealth or save for retirement, there is almost no way around careful saving. But as important as it is to put aside as much money as you can, being too stingy can also end up hurting you. In this guide, moneyland.ch lists things for which the financial cost is not the highest priority.

Health

Health is both a valuable asset and a costly resource, and is worth investing in. Foregoing healthy nutrition for the sake of saving money, for example, can end up costing you more in the long run. Worse still, not getting needed medical attention just to avoid paying the deductible or other out-of-pocket costs is being penny wise but pound foolish. Ideally, you should always have a budget for medical expenses, or keep an emergency fund to cover needed medical care.

Social life

Keeping up friendships can come with certain financial costs. It will not benefit your social life to forego every visit to a restaurant. Likewise, accepting drinks from others but never paying for a round yourself will not likely encourage your friends to include you to get-togethers. Saving money should not come at the cost of loneliness. Loneliness is an enormous societal problem that can adversely affect the health of people who suffer from it.

Tip: Try proposing joint activities that cost little or no money, such as hiking or other outdoor activities. You can find tips for cutting the costs of hiking, going to the movies, or dining at restaurants on moneyland.ch.

Security

Security should come first. Putting yourself in danger just to save a few francs is not a smart financial move. Security could mean coughing up more money for a quality bicycle helmet, or renting a bank safe deposit box to securely store your valuables.

Security also applies to investments. Not keeping an emergency fund just because the interest rates of savings accounts are low is hardly advisable. Having a readily-available financial buffer is worth the opportunity cost of lower returns.

Save with moneyland.ch

Are you trying unsuccessfully to put aside money? It could be that you are paying more than necessary for ongoing costs like insurance, banking, and telecom services. The moneyland.ch comparisons make it easy to find the cheapest offers that match your needs.

You can read the moneyland.ch guides to learn simple methods for saving money on a day-to-day basis. You can also find saving tips for things like investing, groceries, electricity, and housing.

Quality

Buying things you need on the basis of price-tags alone can end up costing you more down the line. That may seem like a contradiction at first glance. But buying low-quality items that have to be replaced regularly can work out more expensive than buying a quality product that lasts longer.

The most important thing is to look at the quality of an item before you buy. High-quality goods deliver better performance and often pay off financially over the long term. What is more, quality goods keep their value better, and can often be resold on the secondhand market.

Enjoyment

Living a frugal lifestyle does not mean having to forego every small, everyday luxury. Small joys like a cup of coffee or a piece of chocolate can have a noticeable impact on your quality of life without costing you an arm and a leg. Ideally, you should set aside a small budget specifically for petty spending on things you enjoy. If you follow the 50-30-20 rule, for example, 30 percent of your income is designated to things you want – including small things like a cup of coffee.

Necessary insurance

Many people could save a lot of money by optimizing their insurance. It is important to take action if you have insurance that you do not need, have overlapping insurance, or pay too much for your mandatory health insurance.

But you should avoid getting over-zealous and terminating insurances that are important for your financial security. Some insurances are obligatory, as is the case with third-party liability insurance for cars. Personal liability insurance, though not obligatory, is always advisable to have. If you own very costly items, you should consider getting valuables insurance for those things.

But in every case, using the most affordable insurance that gives you the cover you need can save you a lot of money. The insurance comparisons on moneyland.ch help you find the cheapest offers.

Education

Education and continuing education often come at a financial cost. Stunting your educational development just to save money is rarely a good decision. Education is an investment that often yields returns – both on a personal level and financially in the form of higher income. Adding to your skills set increases the value of your personal human capital.

Affordable ways to continue your education include taking advantage of offers from your employers, or making use of MOOCs – courses offered by universities and other establishments free of charge. You can find more information in the guide to Swiss MOOCs.

More on this topic:
Simple ways to save money every day
Habits that help you build wealth
The 50-30-20 rule explained
A guide to creating an emergency fund
Swiss sharing economy platforms to prevent waste and save money