Saving for the future to build a house - but how?

  • Erstellt am 2018-11-11 17:01:46

Anoxio

2018-11-12 14:06:57
  • #1
I can only speak for myself now – after completing my training, as a career starter, the first thing I bought was a capital life insurance policy, a building savings contract, and a target savings plan. The latter no longer exists with the great conditions it had back then (I get 50% interest on the annual savings contribution...), I would waive that now. But I would definitely take out a building savings contract per person in your place, possibly also immediately for the asset-building payments. It doesn't have to be very large, otherwise it gets quite expensive. But at least 30k per person, then you already have a basis and over the years quite a few euros will accumulate.

But don’t make the mistake of saving away all your "free" money – always keep an emergency fund in the savings account (or at home under the mattress, it currently gives similar interest...). Also get smaller piggy banks for coins or for a ten-euro note now and then – for the new car, for vacation, for gifts... And have fun in life :)
 

Bookstar

2018-11-12 20:57:20
  • #2
Hats off to the attitude. Still, I recommend something different to you. Use the financial opportunities and see the world. Travel, do an internship abroad, etc. That is very valuable for you as a person.

If you later maybe have a good job, you will save several tens of thousands very quickly and can then think about the dream of a house.

If you still don’t want to listen to me and save for a house, then I would simply take the money and put it in an account. Don’t invest it.
 

Jean-Marc

2018-11-12 21:21:38
  • #3
I can well imagine that your generation is lucky because the end of the real estate boom coincides exactly with the time you plan to build. Maybe you won’t even have to do that anymore because there are enough attractive and affordable offers on the market. Who knows...

The art is to manage your money disciplined from the start and still treat yourself sometimes. The years between 20 and 29 are simply the best and never come back. At that age, I wasn’t willing to live in asceticism.

From 28/29, when the parties become less frequent, I would then skip the odd vacation and save the money instead. The builder of tomorrow will thank you.
 

BenjiXI

2018-11-17 15:39:14
  • #4
Thank you for the many wonderful responses. I will take a lot from them and give it some thought.
 

Bieber0815

2018-11-17 20:38:20
  • #5
It would be interesting to know your family background better; what financial education you have. (I do not expect an answer, just wanted to highlight this aspect.)

My notes:
- Income helps. Focus on your professions. Work hard, complete your education above average, look for good jobs, be mobile if necessary, possibly build on your further education (higher degree).

- Every euro not spent counts much more than the best savings plan. So refrain from unnecessary consumption. Major cost drivers are housing and cars. Then all regular expenses (mobile phone contracts, gym memberships, subscriptions of all kinds, it adds up).

When it comes to finances
- Basic provision. Health insurance, private liability insurance, possibly disability insurance. A young person does not need more insurance! No private pension insurance, no household contents insurance, no legal protection, whatever. In addition, an emergency fund of 2-3 net monthly salaries in a daily allowance account (so you never ever have to pay overdraft interest).
- Stay frugal. Question the costs of every financial product. Current accounts, daily allowance accounts, credit cards are possible free of charge. You should initially also save money free of charge (so a home savings contract is already out).

Saving
In my opinion, stocks are possible over 10 years. Best in the form of a cost-free issued savings plan on a world ETF (which again has low own costs, that remains). However, normal savings accounts are simpler, tax-simple and above all flexible. So daily allowance accounts, fixed-term deposits (combinations) or bank savings plans. No insurance products! Too high costs.
 

Milo3

2018-11-17 21:10:13
  • #6
Absolutely great attitude at a young age. Saving is a great thing and you can never start saving too early. Basically, it is always advisable to have 2-3 months' net salary in your savings account to be able to access it at short notice. If you feel mature enough and, above all, disciplined, I would recommend opening a free securities account and setting up a few savings plans (actively managed funds, ETFs, stock savings plans). It is important that you do not conclude this through feverish financial agents or representatives (issue surcharges, commissions). Furthermore, when you finish your apprenticeship, possibly consider a large joint home savings plan. What speaks against the home savings plan for me currently is the interest rate situation, the closing fee, and the account management fees. Additionally, you should think about disability insurance at an early stage. If you each receive a VWL, invest it in a stock fund savings plan (specifically designated for this) and take advantage of the employee savings bonus :) As for retirement provision, I would postpone that until after the apprenticeship and enjoy life.
 

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