No special repayments possible with loans. How to save money?

2018-09-16 23:45:37

Thank you very much for the helpful information!

With fixed-term deposits, it is like this (at least that's what I quickly read on the internet) that you earn interest on a fixed amount over a certain period? That would mean I would have to set the fixed-term deposit account for one year, and at the same time deposit the money monthly into another account, and after the year add the money and enter into a new one-year contract? That seems like quite a lot of effort to me.

2018-09-17 04:36:42

There are also fixed-term deposit savings plans where you deposit money monthly. For example, [Direktbanken]

2018-09-17 06:25:00

Thank you very much for the helpful information!

With fixed-term deposits, it is like this (at least that's what I quickly read on the internet) that you invest a fixed amount over a specific period of time with interest?
That would mean I would have to set the fixed-term deposit account for one year, and on the side, deposit the money monthly into another account and after the year add the money and conclude a new one for another year? That seems like quite a lot of effort to me.

Yes and no. If you have a savings goal for example 10 years, you can collect your savings amount for one year and invest this as a fixed-term deposit for 9 years. The next year you do this with an 8-year term, and so on, so that all fixed-term deposits mature on time. The advantage is the higher interest rate with longer terms.
Savings bonds would also be an idea.

2018-09-17 07:38:16

Rabodirekt, for example, has a "Festgeldkonto," where you can deposit any amount at any time and also withdraw partial amounts, but from the withdrawal instruction to the actual payout it takes 30 (or 90, depending on the variant) days. Super easy and probably sufficient as a spending block. The chosen term is always a bet on interest rates. Does Prämiensparen still exist, by the way? It might also be useful. A 15-year investment horizon actually makes ETFs not that risky, my son has some that are doing quite well.

2018-09-17 07:46:35

that looks like quite a lot of effort to me.

By the way, that sounds - even if you do it as you described - like more effort than it actually is. In reality, it is a standing order to a daily allowance account (which simply runs without attention) and once a year a look at a comparison table and conclude a contract (with video identification a matter of a total of half an hour at most, with post identification additionally a trip to the post office).

2018-09-17 11:15:42

By the way, that sounds - even if you do it as you described - like more effort than it actually is. In reality, it is a standing order to a daily allowance account (which simply runs without any hassle) and once a year a look at a comparison table and concluding a contract (with video identification a matter of a maximum of half an hour in total, with postal identification just an additional trip to the post office).

No special repayments possible with loans. How to save money?

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