Request feedback on our financial structure

I actually receive more than 5k from the 8k because of the PKV (yes, for families with more than one child it is expensive, but so far we are cheaper compared to the GKV).

It doesn't really matter for the financing and the train has left the station, but in the GKV, €5,231.49 per month would remain instead of €5,000.

What exactly is the emergency fund being saved for and how much do you have stashed away?

Thank you for your feedback ypg, there are helpful things in there. I have actually neglected the increase of some items due to the children getting older so far. I have included something, but probably too little.. The sports club for the boys was not included at all. Thanks!

After the fuel item, you are dependent on one/two new cars. Maybe I would set a higher savings rate there, or will it be that you only lease from now on?

Nope, the cars are still fairly new. We still have to pay off the family van for a while, the small car will be paid off in Dec. 21. But repair costs will be correspondingly more expensive in a few years due to wear and tear.

Rounding up 15k and more, although I have already rounded up the individual items, I have avoided so far - I want to avoid taking out too large a loan. Yes, I could put the remainder that is left into fancy outdoor facilities, but that is not my current desire, since I have already planned for what we want. I probably have to look at the loan agreement to make sure I can make good extra repayments.

It actually doesn’t matter for the financing and the train has left the station, but in the GKV there would be €5,231.49 left per month instead of €5000.

Not for me (I have of course calculated that for myself), since thanks to the employer subsidy I remain below the mandatory rate in the GKV even with the children's PKV. But yeah, that’s not relevant for the inquiry.

What is the emergency fund being saved for and how much do you have saved there?

The emergency fund currently has 12k and is there to cover force majeure – washing machine breaks, our roof is torn off and we have to stay in a holiday apartment, uninsured car damage etc.

Not for me (of course, I calculated it), since thanks to the employer subsidy I stay below the mandatory rate in the statutory health insurance even with private health insurance for children. But yeah, that's not relevant for the inquiry.

Sorry for off-topic discussions, but would you like to calculate that for me?

Nope, the cars are actually quite new. We still have to pay off the family van for a while, the small car will be paid off in Dec. 21. But repair costs will become correspondingly more expensive in a few years due to wear and tear.

Then calculate your savings rate with which you can save up for an equivalent vehicle. The bank calculates €500 for a car (that was the case for us).

I would like to avoid taking out too high a loan. Yes, I can then invest the surplus that remains in nice landscaping, but

You won’t. Any rounding up will cover one or another item that becomes more expensive or that you hadn’t thought of.

Sorry for off-topic discussions, but could you please calculate that for me?

Sure. Current monthly contribution to the statutory health insurance with the TK (my previous health insurance) according to their calculator is €416.32, which I would have to pay. My private health insurance costs just under €544 per month, including long-term care insurance. My son's costs €170. My employer pays half each (up to the amount he would have had to pay for the statutory health insurance). According to the payslip, that is €357, which I currently pay for both myself AND my son. Accordingly, I am currently almost €60 cheaper. For son number 2, assuming his also costs €170, I would then be €110 more expensive compared to statutory health insurance.

Then calculate your savings rate, with which you can then save up for an equivalent vehicle. The bank calculates €500 for a car (that's how it was for us)

I haven't factored that in yet. This is the first time since my research that someone has included this as an extra item in the buffer before applying for a mortgage.. €500 is quite steep; I don't have a Mercedes and won't be driving one in the future either. Even if the current car (it’s an Alhambra bought as a nearly new car) only lasts its 8 years, I would then have €48k in the bank.. it cost me €26k last year.

You won't. Any rounding up will compensate for this or that position that becomes more expensive or that you hadn't thought of.

Okay, if I round up even more generously, the financing of course becomes increasingly difficult. Yes, the more you have, the safer it is. But is it really such a close call?

But is it really sewn so tight?

No idea. But if I see 381, I write 400, and I do that for several items. Then maybe I have calculated 100€ too much per month in two years, but I can still go to the hairdresser or give grandma a used smartphone. However, 300/month for travel is quite generous, while others say they first avoid that because the new garden is enough replacement and the vacation is also wasted on the new installation.

Apart from that: 280,000 for 150 sqm is very cheap for 2019. You should expect that some upgrades will make the house more expensive. I can't imagine that the E-standard from 1970 is enough for you or a 30x30 tile for 20€. Yes, it can look good too, but whoever has your salary surely also wants the current standard installed.