Savings beginner with questions about the plausibility of the "rough" plan

Why has your income side now shrunk from 6 k€ monthly to 4 k€ monthly?! By the way, children are not as expensive as everyone always claims - at least not in the beginning... I have two of them.

But you won’t really get done with that. From 1500 euros monthly burden, subtracting 300 to 400 euros for additional costs and reserves, the following picture emerges:


As you can see, that is probably calculated too optimistically. Of the 1500 euros, 1200 go to repayment and interest, and that at only 2% interest.
You then pay off for 40 years. Ok, you might still plan with special payments. But that probably won’t really work out at the beginning with a new child(ren) and just moving into the house. So after 15 years of fixed interest, still 288,000 euros of loan remain.

With low interest rates, one should start with at least 2% repayment. That would then be a repayment rate of 1333 euros.

Why has your income side now shrunk from 6K € monthly to 4K € monthly?!
By the way, children are not as expensive as everyone always claims – at least not at the beginning... I have two of them.

Morning,

How do you come to the 6K?
In the first post, I assumed my salary (x000,-) and her salary (x000,-). So xK.
Now I have looked at the account again and realized that she and I have a few euros less. (Capital-forming benefits etc.)
That is why the adjustment from xK to x.820,-.

As for the costs for the children, it really seems to me that there are immense differences... With what amount should/could one reckon in the first 2 years?

You won't really get finished with that. Starting from a monthly burden of 1500 euros, subtracting 300 to 400 euros for additional costs and reserves, the following picture emerges:


As you can see, this is probably calculated too optimistically. Of the 1500 euros, 1200 go towards repayment and interest, and that's with only 2% interest.
You will then pay off over 40 years. Ok, you might still plan for special payments. But that may not work out immediately with a new child(ren) at the beginning and just moving into the house. So that after 15 years of fixed interest, 288,000 euros of loan remains.

With the low interest rates, one should start with at least 2% repayment. That would then be a repayment rate of 1333 euros.

Hi,

Indeed, that doesn’t look too good.
I’m playing around with the calculator and will see how much equity I need to get to a monthly burden of around 1500,- (including additional costs!)

Thanks for the info!

Oh yes, sorry, misread. I would also lean towards a repayment of around €1800 – but I don’t consider that unrealistic. €3000 net should be sufficient – I would just try to live on €2500 net for the next 2 years. You can then find out how hard or easy that is for you and at the same time save a little more. If after 3 months you find that it’s not for you, you should probably plan a bit smaller.

By the way, children are not as expensive as everyone always claims – at least not at the beginning... I have two of them.

Child’s bed + 2 sets of bedding, stroller + summer/winter insert, child seat, baby carrier – possibly also a wrap sling, changing at least 6 diapers daily, baby bathtub, Penaten® + co., if breast milk is not available: Alete® + co., bottles in all sizes, bottle warmer, starter kit (and they grow quickly), sanitary wipes, wet wipes, changing mat – at least an underlay, baby monitor, toys, crawling blanket, baby walker later – chair, high chair, vegetable jars, pacifiers, which always disappeared, first little shoes (I probably forgot quite a bit). The little one can just walk ...

So, I found the diaper phase anything but cheap (for example, a box ran out very quickly) – maybe diapers were simply more expensive back then, and using cloth diapers was only a short interlude for me (then caught up with me again with the first foster child :confused. With the second one – if the things were not handed down, it gets at least somewhat cheaper.

Best regards from the Rhineland