Around 28% of people in Switzerland forecast having less disposable income this year compared to 2022, according to the findings of a new survey.

The primary reasons are a rise in health insurance premiums as well as higher rent and mortgage interest rates.

In Swiss households with a gross monthly income of up to CHF4,000 ($4,400), 38% predict having to tighten their belts, according to the research published by Comparis on Tuesday.

Whereas within households with a gross monthly income of CHF4,000 to CHF8,000, 30% believe their financial situation will worsen this year.

In terms of region, Ticino forecasts a tighter budget, with 39% of those polled saying they would have to significantly rein in their spending. Yet in French-speaking and German-speaking Switzerland, the figure stood at 19% each.

Furthermore, according to the Comparis research, 25% of the rural population said they had to “turn over every Franc,” Swiss Info reports. Whereas in the city and agglomeration, the figure stood at 18% and 17% respectively.

There was also a considerable difference in regard to gender, with 31% of women stating they’d have less money available this year compared to last year, whilst just 23% of men thought the same.

In addition, respondents to the survey said they predominantly avoided unnecessary spending and impulse buys, whilst others sought out discounts and price comparisons.

Indeed, in Italian-speaking Switzerland, 60% of those surveyed said they would shop overseas to save money.

The survey was carried out in August this year by the market research institute Innofact on behalf of Comparis. A total of 1,011 people from all over Switzerland were polled.