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Save Water While Shopping

Did you know that it takes almost two bathtubs full of water to produce one kilo of tomatoes? Read what the frontrunners are when it comes to water consumption and how you as a consumer can help save water.

In the supermarket or restaurant, do you wonder how much water was used to produce the food in your shopping basket or on your plate?

Very few of us give the “water footprint” of our consumption a thought-fatal, say nature conservation organizations such as the WWF, which proclaimed World Water Day on Tuesday, March 22nd. Because according to the WWF, our daily water consumption is falling (currently it is an average of 120 liters), but the water footprint of an average person is 5,288 liters per day according to WWF calculations. For comparison: a bathtub holds about 140 liters.

The graphic from ZEIT illustrates what can come together for a balance when a product is ordered thoughtlessly: Almost 2,500 liters of water are therefore required to produce a single cheeseburger, which we usually devour in just a few bites. A list that makes you think.

Our groceries are so thirsty

Did you know that it takes an incredible 15,400 liters of water to produce one kilo of beef? And for a kilo of apples more than 800 liters? This small compilation lets us see daily consumption with completely different eyes. Here are some popular products and their track record:

  • Beef: 15,400 liters/kg
  • Pork: 5,988 liters/kg
  • Rice: 2,497 liters/kg
  • Pizza Margherita: 1,259 litres/kg
  • Apple: 822 liters/kg
  • Banana: 790 liters/kg
  • Milk: 255 liters/glass
  • Lettuce: 237 litres/kg
  • Coffee: 132 liters/cup

You can find more examples on the “Water footprint” homepage.

Water consumption: The WWF gives these tips

If you want to improve your water footprint, you can do the following:

  • prefer regional and seasonal products.
  • eat less meat. Beef and pork are considered to be particularly “thirsty” goods.
  • Pay attention to your own consumption during your vacation in “water risk regions”.
  • prefer to travel to their home country for a golf holiday. In Spain, for example, 700,000 cubic meters of water are used every year to irrigate an 18-hole golf course.
  • Prefer tap water to bottled water. Tap water quality is very good across the board in Germany. Drinking water uses 1000 times less energy and raw materials to produce per liter than bottled water. If you don’t want that, you should choose water from regional production and in reusable bottles.
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Plan The Move Correctly, Avoid Mistakes, Save Time: That’s How it Works

If you plan your move properly, you can avoid mistakes and save a lot of time at the same time!

Good planning: Here’s how!

Remember the address changes. These affect banks, insurance companies, but also friends and family. The residents’ registration office and the kindergartens and schools must also be informed and all people who move must be re-registered. In addition, you should plan many things several weeks before the move so that there is no stress later.

If you organize the following things some time before you move, you are guaranteed to be on the safe side and you can move into your new apartment completely relaxed:
Do you need a moving truck? Rent it in good time and find out about the prices.
Get enough moving boxes and packing materials. You can gradually collect newspaper or organize it with friends and family.
Pack a bag with a toothbrush, a change of clothes and deodorant so that you can get to the most important things immediately after the move without having to search.
Organize enough helpers for the moving day early on! It is often difficult to carry the heavy furniture alone or in pairs.
Compare and find out more about moving companies. These can sometimes be very expensive.
Plan enough time for the renovation of your old apartment. Painting, cleaning and handing over the apartment often take a lot of time.

You can avoid these mistakes

In addition to good planning, you can also avoid some mistakes when moving:
Don’t pack too heavy! Many make this mistake. You would like to fill the boxes as full as possible, but then you can hardly lift them or they even break on the ground. Therefore, always pack light and heavy things mixed up in a box and check whether you can still lift it.
Don’t use bags to pack: Bags are often difficult to carry and not really fit much. It is best to pack everything that is possible in boxes.
Do not forget to label: If you do not label the boxes correctly, you will have to spend a lot of time and nerves afterwards to put everything back in the right place. Make it easy for you and your helpers and label everything well, with room information and content. So you always have an overview.
Don’t forget your helpers! A moving day can be long and tiring. Don’t forget to provide your helpers with enough food and drinks. It doesn’t matter whether you order a pizza for everyone or make something yourself.
If you pay attention to these things, you will certainly have a relaxed move without any big surprises! Good planning and organization are the decisive factors.

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Warm Walls Without Heating: You Can Save Energy With These 8 Tips

Heating without heating? That can work. How to make yourself warm and comfortable, how to save money and energy.

1. Leave the oven open: If you’ve had a cake or casserole in the oven, be sure to leave the oven door open after baking. The oven may be off, but the residual heat lingers on for a long time. It spreads pleasantly in the kitchen and warms everything up well. Make sure the oven is actually off, otherwise it’ll be an expensive treat.

2. Tiled stove or fireplace: A natural source of heat that you don’t need a heater for. However, there are a few things to consider here. The Federal Environment Agency advises in particular to buy a stove with a high energy efficiency class and, above all, to only burn dry and untreated wood. Get good advice beforehand, because burned wood can also be harmful to your health. Because wood never burns completely, but releases pollutant emissions during combustion. In addition, dust gets into the air and more than 90 percent of it is fine dust.

3. Candles: Candle temperatures can reach 1400 degrees Celsius on the surface of the yellow flame. This heat warms the surrounding air. The warm air rises and is distributed throughout the room. You can use this method for a short time in small rooms and short corridors. It only increases the temperature by about two degrees. For this reason, this is absolutely not a permanent solution and above all you should always keep an eye on the burning candles.

4. Seal windows and doors: If you have leaky windows and doors, this can lead to a lot of heat loss and the drafts also make the rooms feel colder. To check the seals, pinch a piece of paper between the window frame and the sash. If the paper cannot be pulled out again when the window is closed, the window is tight at this point. So replace your seals, look for door slits on apartment doors and thus ensure more warmth in the rooms.

5. Radiant heater: This solution should only be used for a short time. Although a radiant heater heats up the surrounding air quickly, many models are expensive. Here, too, good advice is necessary due to sustainability.

6. Warm clothes: A classic that brings a lot. Many heat unnecessarily much, although somewhat warmer clothing would be sufficient. If you don’t necessarily have to walk around the apartment in a T-shirt in autumn and spring, you can save on the heating with a cardigan, a scarf or even warm slippers. Do you work in the home office? Then make yourself really warm here. Lay out a blanket and prepare a warm spelled pillow for your legs. Keep your feet warm and drink a stimulating ginger tea from time to time. You will see that you can do without heating for a long time, especially in the transition months.

7. Fan heater: the absolute emergency solution. If there is no other way and the heating has failed, fan heaters warm up incredibly quickly, but not very ecologically. The small models are not expensive, but due to their enormous energy consumption they are anything but sustainable. The power guzzlers should therefore definitely be operated with green electricity.

8. This last point is more of an indirect tip. Heat sustainably and specifically, then you generally save more heating costs! Use adjustable thermostats, ventilate properly and regularly and ensure good thermal insulation. If you use these tips, follow the instructions for heating and get well informed, you will definitely not freeze.

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Save Electricity and Costs: When is The Right Time For a New Refrigerator?

The refrigerator is often responsible for high power consumption. With a high-quality device, you can save a lot of energy in the long term and reduce CO2 emissions. But when is a new device due?

The electricity consumption of refrigerators and freezers

There is a perception that a refrigerator needs a new model every 10 to 15 years. But that’s not necessarily true. If the old refrigerator is an energy-saving model, it can still have acceptable consumption values ​​today – especially if you operate it in a cool location.

In any case, it is advisable to get to the bottom of the energy consumption with a power meter. Basically, modern, efficient compressors get by with significantly less energy than the old devices. This is confirmed by a short study on the electricity efficiency of old and new refrigerators and freezers carried out by the Freiburg-based consulting company Ö-quadrat on behalf of the North Rhine-Westphalia consumer advice centre. A total of 1069 devices, 884 of which were free-standing and 185 built-in, were tested.

The results of the study are unequivocal: the power consumption of refrigerators has fallen continuously since the early 1990s. Here is the comparison: around 30 years ago, a standard refrigerator with a freezer compartment consumed 410 kilowatt hours (kWh) per year. The average consumption of a new appliance today is only around 40 percent of that and is around 170 kWh per refrigerator. The other types of appliances, such as refrigerators without a freezer compartment and large fridge-freezer combinations, also show significantly lower power consumption in new appliances. Information on how to select the right cooling device and how to use it is provided by the NRW consumer advice center.

Device type, location and temperature setting are crucial to save costs and energy

A model calculation by shows exactly the difference: the price of a kWh is just under 42 cents today, compared to just 30 cents in 1990. In 1990, a refrigerator cost 123 euros in electricity per year. The same device with the same consumption in 2022 is 172.20 euros. What is not taken into account is that the power consumption of cooling devices increases significantly over the years. This is mainly due to the aging of the insulation material. With older devices, defects such as leaking doors or heavily dusty cooling grids can also lead to increased consumption. The age-related additional consumption is estimated at around one percent per year of life. With the recommended measuring device you can check the power consumption and decide whether it is worth buying a new device.

The advice from energy expert Gerhild Loer from the consumer advice center in North Rhine-Westphalia is clear: “If you have a refrigerator with a freezer compartment as a free-standing appliance, replacing it after around 15 years is worthwhile. For built-in devices, this only applies from the age of 20, due to the higher acquisition costs”.

She has even more tips up her sleeve to save electricity when operating a refrigerator. The temperature setting is seven degrees Celsius for the refrigerator and minus 18 degrees Celsius for the freezer. “The location of the device must also be taken into account. The less sunlight falls on the refrigerator, the less the cooling unit has to work. This saves electricity in the long term and efficiently extends the performance of cooling devices,” explains Loer.

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Washing Clothes: 3 Tips For The Washing Machine That Save Money

Washing machines are among the biggest power guzzlers in the home. But with these 3 tips you can save money when doing laundry.

Save electricity with the washing machine: This is how you save money

Tip 1 – Wash laundry at low temperatures

Most people always wash their clothes with the same program and at the same temperature. But that is often higher than necessary. There are tons of detergents in the drugstore these days. Thanks to advances in the detergent industry, most of them have one thing in common: the washing power of the detergents is so high that they can fully develop their cleaning effect even at low temperatures. Many remove light soiling and the smell of sweat even at 20 degrees. As far as the cleaning effect is concerned, it makes no difference whether you wash laundry at 30 or 40 degrees.

Therefore: If possible, wash at 30 instead of 40 degrees. In this way you can save an average of 17 euros a year and at the same time avoid around 25 kilograms of CO2. The Federal Environment Agency has also calculated that private households can reduce their electricity consumption by around 37 percent if they consistently use lower temperatures. In view of the current price increases in the energy sector, this should definitely be worth considering.

In a few cases, however, you should make an exception to washing at low temperatures. Laundry from sick or immunocompromised people, bed linen and towels should be washed hotter. The Federal Environment Agency also recommends washing at least once a month with a detergent containing bleach at 60 degrees to reduce the formation of germs in the washing machine.

Tip 2 – Load the washing machine fully

Many washing machines are now equipped with a sensor that measures the amount of water and doses the amount of water accordingly. If your machine is not one of these high-tech specimens, you should only switch it on with a full load if you want to save electricity with the washing machine. Compared to a half-full machine, you can save 24 euros a year. You also avoid 35 kilograms of CO2.

Tip 3 – Use the washing machine’s energy-saving program

Bad news for impatient minds: the longer a washing program lasts, the less electricity is used when washing. So-called “eco programs” use only half as much water as the normal standard programs and they heat up the water less. But they run longer. If you use the energy-saving program regularly, you save an average of 33 euros in electricity costs and 5400 liters of water when doing laundry. In addition, you avoid 48 kilograms of CO2 compared to a conventional 60-degree program.

Conclusion: Saving electricity when washing – easier than you think

The washing machine does not have to be a power guzzler. If you do everything right and follow these three tips, you can save a lot of money on the wash cycle. Especially in the current time, it is important for most people to pay attention to their power consumption – and that doesn’t necessarily have to be difficult.

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Versatile Savings Tips: How You Can Effectively Save Money and Energy

Rising energy and food prices are presenting more and more people with financial challenges. Many households can barely cope with their daily expenses. What to do when running costs eat up all income?

Take a close look at current contracts and insurance policies

The first step is to take a close look at existing contracts, advises the NRW consumer advice center. It is often possible to switch to cheaper tariffs, for example for insurance or mobile phone contracts. Many contracts are even superfluous and can be terminated subject to the contractually agreed deadline. That relieves the expenses.

Another spending trap is insurance. The following applies here: “As much as necessary, as little as possible,” advises the consumer advice center. Policies that only cover minor damage are often superfluous. For a standard vacation, for example, luggage insurance is often not necessary, since the loss of a suitcase is usually easy can be replaced. Mobile phone insurance usually has many gaps and pitfalls. You can usually save yourself this holey protection in the truest sense of the word. Glass and death benefit insurance are often dispensable. Extra equipment insurance for bicycles, laptops or glasses is only worthwhile for very expensive purchases. There are significant price differences for important insurance policies such as private liability or household insurance, so it is worth comparing prices. Modern policies often also offer better protection. Switching to annual payment can also save money.

You should also carefully check your current contracts for telephone, smartphone and internet. These are indispensable, but you can also save money here. You should first determine your actual needs. How many minutes are you on the phone? How much data volume do you use per month? If you know your needs, you can also compare the prices of different providers better. Product information sheets, which dealers must hand out on request, help with this. After the minimum contract period has expired, every telecommunications contract that is not actively extended, for example by a change of tariff or a new smartphone, can be terminated with one month’s notice. The change is therefore possible faster than you think. Porting your phone number is free regardless of the provider.

Pay attention to the fees for memberships and financial institutions and check the legal situation

If you have subscriptions or memberships, for example for magazines, streaming services or a gym, then you should also put them to the test. These are often particularly cheap or even free in the first few months, but over time high costs can arise. Especially a long minimum contract term of up to two years is often a cost trap in difficult financial times. Some contracts are automatically extended by a further year if you do not cancel in good time. The advice of the consumer advice center: check existing contracts, prioritize them and note the notice periods in order to end unnecessary memberships and subscriptions in good time.

Financial institutions have very different price models and fees for a current account or the use of a credit card. Some banks charge flat rates for account management, others charge a basic price plus costs for individual booking processes. Free account management is also still offered. Some banks also offer special conditions for students, trainees, pensioners or union members. A comparison of different banks can therefore be useful in order to reduce running costs. You can usually terminate current accounts at any time and without notice. There are no fees for closing the account. Particular caution is necessary with loans: the installments and additional costs put a strain on the budget. You should not exhaust the overdraft facility either, because double-digit interest rates are due here. In the case of acute and major financial problems, debt counseling should be sought in good time.

Rising costs for providers mean that prices in current contracts rise. However, this is not easily possible. Because once a contract has been concluded for a specific price to be paid regularly, the contractual partner cannot unilaterally change it. It is different if a price adjustment clause is agreed in the contract, on which the provider bases his price increase. Such clauses are usually found in the fine print, but are subject to strict requirements. In many cases they are ineffective, so that the providers cannot refer to them. So it’s worth taking a close look.

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10 Tips: How to Save Paper in Everyday Life

What is the best way to save paper in everyday life? We have 10 tips for you on how you can easily reduce your paper consumption. This is not only good for the environment, but also for your wallet.

Why is papermaking problematic?

In order not to have a bad conscience with notes, exercise books or college pads, you can use recycled paper as a first step. Paper can be recycled up to seven times before it becomes too fragile.

Another advantage: With recycled paper you are not only doing something for the environment, but also for your wallet. As a rule, recycled paper is cheaper than fresh fiber paper. You can also protect the environment with good alternatives. Still, it’s best if you put as much effort into saving paper as possible.

Save paper in everyday life: 10 tips

It doesn’t take a lot of effort for that. With these 10 everyday tips, saving paper becomes child’s play:
Use scraps of paper: Does every note really need its own piece of paper? There are now many ways to digitally record shopping lists and to-do lists. However, if you can’t do without a piece of paper, you shouldn’t throw away half-written sheets immediately. Better to cut them in half or use the back side again. So you also have a piece of paper at hand for the next note.
Printing: When printing, you can also ask yourself whether you really need to print the document. If so, it doesn’t always have to be brand new paper. Do you perhaps have an already used piece of paper that you can print on the back of? If this is not possible in some cases, such as important documents for work, recycled paper helps here again.
Avoid paper bags: It is no longer a secret that plastic bags should be avoided. But only a few know that paper bags are not necessarily better either. That’s because few bags are made from recycled paper and they’re almost always made from virgin fiber paper. So it is best to make sure that you always have your own fabric bag with you.
Cloth instead of paper: You can save paper by using cloth handkerchiefs instead of handkerchiefs and by using a rag more often instead of kitchen roll. Both can be washed and reused.
“No advertising”: You often have unwanted brochures, catalogs and magazines in your mailbox. Instead of throwing them away without comment, you can cancel them by phone or by writing to them. It also helps to put a “No Ads” notice on the mailbox. This is how you avoid unwanted mail.
Waste separation: Used paper is a valuable raw material and should therefore be disposed of separately. For example, the following do not belong in the waste paper: beverage cartons, receipts and pizza boxes.
Save paper in the office: Huge amounts of paper can also be saved in the office. If you scan forms or store digital documents on external storage and make regular backups, you don’t have to print them out and file them in folders.
Reuse newspaper: After reading the newspaper in the morning, you don’t have to throw it away right away. More and more people are using these as an alternative to wrapping paper. It looks beautiful and is also sustainable. Newspaper can also serve as protection to pack fragile items.
Reduce wrapping paper: In addition to newspaper, you can also use alternatives to lovingly wrap gifts for your loved ones. Pack them in cloths or cloth bags, for example.
Avoid ordering on the Internet: Order as little as possible on the Internet. Cardboard boxes and packaging are made of corrugated cardboard, which cannot be recycled. It is therefore better to support local trade in your area and save paper at the same time.
It already helps to realize how valuable paper is and that it doesn’t take much effort to break everyday routines. With these small things you can already relieve the environment a lot.

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Save Money and Energy: Washing Clothes at 30 or 40 Degrees – That’s How Big The Difference is

It doesn’t matter whether you wash the laundry at 30 or 40 degrees? No – because lower temperatures not only save energy and costs. You also have another advantage. How big is the difference really?

Washing at low temperatures: what about cleanliness?

As far as washing the laundry is concerned, many fall into a certain routine after a while – and then always wash at the usual number of degrees. At first glance, the difference between 30 and 40 degrees sounds very small; after all, it is just 10 degrees more that are generated in your washing machine. However, these 10 degrees are by no means low for the washing machine: it requires almost twice the energy if it has to bring the temperature to a full 40 instead of just 30 degrees.

The worry that the laundry won’t get really clean or isn’t hygienic if you wash it at lower temperatures is usually unfounded. Washing machine technology is so advanced today that laundry can be cleaned at just 20 degrees. A so-called hot wash (a wash cycle that can heat up to 90 degrees) is only necessary in the case of contagious diseases or a special need for hygiene – according to the Stiftung Warentest.

If you want to be on the safe side that the laundry is completely germ-free even at 30 degrees, you should let it dry in the fresh air if possible. Here, the sun kills various germs with the help of UV radiation.

Focus on costs and the environment

When comparing the washing temperatures, it can be seen that there is no noticeable difference in the cleaning effect.
However, if you take a look at power consumption and the environment, you can see some significant differences:

If you normally wash at 60 degrees and now turn it down to 40 degrees, about 50 percent of the electricity costs are saved
If you calculate this down from 60 to 30 degrees, you save as much as 67 percent.
Depending on the electricity provider, you save around 40 euros if you wash about three times a week. It is therefore worth switching to lower temperatures.
You are also doing something good for the environment, as the lower energy consumption and CO2 emissions can only be reduced by washing at lower temperatures; and by up to 35 percent. The Federal Environment Agency recommends: Washing permanently at the lowest possible temperature and only choosing a program at 60 degrees once a month to prevent the growth of germs in the washing machine. For example, bedding or towels should be washed.

Conclusion: washing at low temperatures – so what’s the point?

Unless you have an illness or other reason that makes you forced to do a hot wash, try to do a hot wash only once a month. You don’t lose anything when it comes to cleanliness: Today’s washing machine technology and detergents ensure clean laundry even at low temperatures.

If you wash at low temperatures, this offers advantages for you and the environment. On the one hand you can save money in the long run, on the other hand you also help to reduce CO2 emissions. In summary, there are no disadvantages for you if you wash at low temperatures.

The initial question as to whether it makes a difference to wash laundry at 30 or 40 degrees can therefore be answered in the affirmative. There is no noticeable difference in terms of cleanliness, but all the more so in terms of the environment and the costs involved.

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6 Tricks to Save on Taxes in the Household

We show you simple tricks to save taxes in the household. Ideal for housewife tax returns.

1) Save taxes with a craftsman’s invoice

Not only homeowners who have to have repairs carried out in rented apartments, such as heating fitters, gas and water fitters, roofers, or chimney sweeps, can deduct these costs for tax purposes. The “normal” consumer can also claim the craftsmen’s invoices, e.g. for the repair of the washing machine or dishwasher, for tax purposes. However, only the travel costs and the wages, both without VAT, are calculated. The material costs cannot be taken into account. However, only 20% of the invoice is recognized, up to a maximum of 1,200 euros.

2) Save taxes by billing doctors and pharmacies

Practice fees, co-payments for medicines, and co-payments for operations, cures, and dentures can be claimed as an extraordinary tax burden. However, the medication and cures must have been prescribed by a doctor. Over-the-counter medicines cannot be considered. However, the sum must be above the reasonable personal contribution. This is lower for single parents and married people with children than for single people, depending on income.

3) Save taxes by laundering specific work clothes

Typical workwear that is washed at home can be set at 102 euros as income-related expenses or as operating expenses for the self-employed without proof. Typical work clothing includes, for example, uniforms for police officers, smocks and tunics for nursing staff (not white trousers), aprons and trousers for cooks, work trousers and overalls for fitters, plumbers, etc. A lawyer’s suit, for example, cannot be taken into account, as this is also can be worn in your free time. If the work clothes are not provided, their purchase can also be claimed as income-related expenses. If the work clothes are washed in the dry cleaners, you can of course deduct the costs for this.

4) Save taxes with babysitters and cleaning lady

Anyone who employs a cleaning lady, a babysitter, a gardener, etc. for EUR 400 per month can claim 20% of the costs, but a maximum of EUR 510 per year for tax purposes. It is important that the employment relationship is registered with the mini job center.

Anyone who does not use such services in a marginal employment relationship can deduct 20% of these costs from their taxes, up to a maximum of EUR 4,000.

5) Clever savings with a tax allowance

Clever savings are made easy with tax allowances for employees. In this way, you generate assets for employees through the tax allowance.

Through some effective measures, employees have the opportunity to increase their liquidity, for example by entering allowances on their wage tax card. The employee flat-rate amount, which has been increased retrospectively to 2011 to exactly 1000 euros and relates to income-related expenses, is automatically deducted first. The income-related expenses include all those expenses that are directly related to the professional activity and serve to secure or maintain the profession.

In addition, however, additional allowances can be entered on the wage tax card – this helps the taxpayer to a higher monthly net wage, which in turn gives him more financial flexibility. The disadvantage, however, is that as part of the income tax return or income tax assessment, a large tax refund is no longer to be expected, as would be the case if too much income tax were paid to the tax office every month.

Appropriate tax allowance

Accordingly, it is not advisable to set the allowances too high, otherwise, there is a risk of back tax payments, and not every taxpayer manages to create sufficient reserves over the course of the tax year to be able to settle the tax liability. The allowances for employees are entered on the income tax card at the tax office – until the end of 2011, it is therefore necessary for the employee to first collect the income tax card from the employer in order to then present it to the tax office. From 2012, there will no longer be an additional trip to the employer, since the electronic wage tax card has already been definitively introduced by that time.

6) Save taxes with the income tax assistance association

All tips for saving taxes with an income tax assistance association. Save money cleverly with little effort for everyone. The tax issue is annoying every year. However, if you are an employee, the income tax return is not a compulsory submission. Therefore, many employers shy away from this annual income tax return to their tax office. However, it would be worth it in almost every case.

A wage tax assistance association as a cheap solution

If you need help preparing your tax return, ask whether this help can also be provided by an income tax assistance association. The services of an income tax assistance association are cheaper than those of a tax consultant. However, only employees may be advised here. Here you will find the United Income Tax Aid e.V., which has offers throughout Germany.

Costs of an income tax assistance association

The annual costs to be paid to the club depend on income and some clubs add a small one-time admission fee.

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4 Ways to Save for Kids

Children often enrich the lives of their parents. But children should also be provided financially. Because they need food, clothing, and the training also costs money. So that saving for children can be done sensibly and effectively, we have an overview of various options from savings books to other investments for children.

Creating a financial basis for children

Once the baby daughter, son, grandchild, or godchild is born, mom and dad are known to be showered with gifts for the birth. And families also like to use occasions such as Easter, St. Nicholas, Christmas, baptisms, or birthdays to give presents to their children. As a result, some children are hopelessly overwhelmed with gifts. But it can make much more sense to start saving for children early on. Because then they will later have a good financial basis, which they will certainly be happier about. But what investment options are there and how useful are they?

Various investments to save for children

Saving options for the offspring are usually explicitly stated. If not, those willing to invest should ask the financial institutions what options are available for minors. Most of the savings options for children are designed in such a way that the savings only become available when they come of age. Follow these rules when saving for children:

  • Training insurance and accident insurance are not recommended. It is only worthwhile to insure the death of the parents with term life insurance
  • Housing cooperatives offer attractive interest rates for savings accounts and savings plans. In addition, they often offer the advantage of greater chances of finding an apartment at fair prices when living space is scarce.
  • Direct banks usually offer more attractive fixed-term deposit rates than branch banks in your area. The disadvantage, however, is the lack of contact on-site.
  • Index funds have good returns, but they also harbor risks. But if you spread the risk widely, it’s a good way to build wealth.

1) The call money account is a popular option

“Anyone who has money left over should open a money market account because it earns more interest than a savings account. But not every offer is worthwhile.” This rather controversial reference in the Hamburger Abendblatt shows two very different perspectives. On the one hand, the call money account is identified as an attractive option, on the other hand, a careless conclusion is warned against. It is therefore important to take a look at the details of the call money account:

  • Looking at the level of interest is just one important selection criterion when choosing a call money account. In this context, however, the frequency of interest payments is also an important detail. If this can be done quarterly or even monthly, this ultimately increases the return. However, tiered interest rates are only interesting up to the maximum rate. There is hardly any attractive return for the investor anymore.
  • High overnight interest rates should make consumers suspicious. Because behind this there is often a minimum investment amount to which the interest is also limited.
  • It is also worth taking a look at the duration of the attractive interest rates. If these level out over time, there is no long-term return. Then it may even be more attractive with permanently lower interest rates than with high-interest rates that are only available in the short term.
  • The daily money comparison at kontorat.de offers a good overview of the offers on the market. Interested savers can read in this article when it is worth investing in a call money account for their own household money.

2) Saving for children with the classic savings book

The savings book is the oldest investment in Germany. This is usually the first option for saving for children. Because the savings book works like a savings account and is considered safe. Even the smallest amounts of money can be deposited here. However, a savings account also has disadvantages. There is hardly any interest and offers little flexibility. Because in many cases only 2000 euros can be withdrawn per month and often you have to go to the bank with the savings book on site.

3) Savings account as an investment for children

With a bank savings plan, you can deposit a certain amount of money into a savings account on a regular basis. For this, inquire about special offers for minors at various financial institutions. You should also note the conditions here so that this option helps you save effectively. Therefore, inquire about the terms of the interest calculation. It is also important to know to what extent the deposit can be suspended. Overall, the money saved is considered safe here, although the yield is rather low. Also, note tips on handling money for children.

4) Individual ETF savings plans to save for children

ETF savings plans are not only a good retirement option for women but are also suitable for effective saving for children. An ETF (Exchange Traded Funds) is an exchange-traded index fund. Such an ETF usually contains several stocks in which you then invest your money. An ETF relies on broad diversification without an active fund manager. This makes ETFs cheaper. This can be used to build wealth if you decide to invest for a long time and increase diversification.

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