Between poverty and wealth – check how much you earn and how much you can borrow

A man with a suitcase of money comes to the bank in Geneva and – with a foreign accent – says in a low voice:

– I have $ 10,000 here in low-denomination banknotes. I would like to pay them into deposit …

“Speak loudly and clearly, ” says the lady in the bank window. – Poverty is no shame …

A few words on average pay


About 17.5 thousand USD net (per hand) for a month of work … This is the average wage in Switzerland. It is a sack of money that most Poles should not even dream of. The latest data, published a few days ago, of the Central Statistical Office provide a picture of poor life (against a European background) of an average earning fellow countryman.

In August 2014, the average gross wage reached just over 3,800. USD, which gives roughly 2.6 thous. USD on hand. Such money (let us remind you – this is the average calculated by the Central Statistical Office) could amaze not only the Swiss, but also Slovene, Greek and Portuguese. The latter – considered as poor people in the EU – earn net (on hand) something approx. 4 thousand USD, so almost twice as much as we do. Brothers in wage misery can be for us the Russians, Turks, Slovaks and Hungarians (we all earn similarly). The miserable consolation will be the fact that Ukrainians, Albanians and residents of Moldova get on average about 1,000 USD per month …

Percentage you borrow in the bank

Percentage you borrow in the bank

“It doesn’t matter how much you earn, it’s important, how much and for what percentage you borrow in the bank, ” Americans say, and they live on credit unmatched by other nations. However, loans can be cheaper in the US. With us, although we have very low interest rates, few banks decide to borrow less than 20 percent. on an annual basis (we are talking about real rather than nominal interest).

Quick loan … for free!


Meanwhile, the money is on the street, you only need to bend down for it – this saying is more often referred to the offers of loan companies on the market. They are not banks and use other methods to attract potential customers. For example: Good Finance at we will borrow USD 1,200 (half of the average salary) to start, and after 30 days we will give away USD 1,200.  However, only the first loan is for free, each subsequent one will bear interest, as well as a laid-back extension of the repayment date. It is worth remembering that the sweet life in the loan does not turn into a black nightmare of the debtor.

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