10 Tips for Saving Money in Germany | expatrio.com (2024)

When you add up rent, food, health insurance, university fees, and other expenses, it can sometimes feel like there isn't much left over to enjoy the German lifestyle. However, put that thought out of your mind.

There are many ways to save money when living in Germany.Germany is actually kind of a “savers' paradise” because it is definitely not the most expensive country in Europe and, for example, grocery shopping at German discounters is a great way to not spend a lot of money on a daily basis.

Save money as a student without effort

If you are a student and want to keep an eye on your budget, use your student ID! Not only you can buy a cheap transportation semester ticket or open a free bank account, but you can also show your ID whenever going to a museum, for example, to pay for the discounted rate. You can also get all kinds of things at student rates and it's really easy to get discounts and save money at a lot of places.

Tip: For a student ID card like ISIC, you only have to pay a small membership fee per year and after that, you have access to amazing discounts!

Get your own ID as soon as you move to Germany so you can start to save money right away.

Also, keep in mind that as a student in Germany, you most likely won't have to worry about any tuition fee, so you'll have money available to spend just on living expenses!

Here are 10 ways to save money in Germany

Now let's get straight to the main topic of this article: 10 great ways on how to save a lot of money each month in Germany!

Check out these 10 ideas that will make your money go further and let you save money in Germany:

1. Plan Your Meals

Everyone needs to eat as healthily as possible

Thankfully, in Germany that's easily achievable, thanks to markets, supermarkets, and local stores.

However, the way you shop for groceries can dramatically influence how much you pay. Instead of shopping as you go, planning every meal can result in huge savings.

Plan ahead to buy big bags of rice and pasta. Make soups and freeze what you can't eat for later. And make a list every week of what to buy.

Tip: If at some point you don't feel like cooking anymore, there are many restaurants where you can enjoy a special lunch offer - this will save you money and the effort of cooking!

Stash of plastic containers

It's really helpful to have a stash of plastic containers to store meals. Takeout containers are ideally sized to store individual meals.

2. Join University - Sports clubs

When subscriptions can amount to €20/month, German gyms are expensive – at least for people on a budget

Despite this, it's still important to stay in shape. So how can you do so without sapping your financial resources?

Students have plenty of great ways to exercise for less.University sports clubswill often chargetiny feesand have their own gyms. They are also great places to make friends or find someone to exercise with and try sports like Ultimate Frisbee or Handball that may not be as popular elsewhere.

3. Second-hand Shops

Sure, it's great to shop in fashionable boutiques and designer furniture studios, but for cash-strapped German residents, that's not necessarily achievable

Fortunately, you can shop for clothes, ornaments, footwear, and even larger furniture at second-hand stores.Kleiderkammer(charity shops) are a great source of bargains.

Many larger towns in Germany hostregularFlohmärkte(flea markets), which are crammed with bargains and fascinating places to browse. Make sure that you visit a flea market at some point! It is not only a very nice place to save money, but also has a cultural aspect: you can learn a lot about the German way of life there! Besides, it is one of the cheapest ways to buy items for your household!

4. Go by bike

Cycling is an (almost) cost-free alternative to driving that gets you from A to B

It's enjoyable, and provides excellent exercise - so why stay cramped in an automobile?

In Germany,cycling is massively popular. Some estimates suggest that there are43,000 miles of cycling paths.

Tip: Flea markets are the perfect spot to find cheap vintage bikes! You may need to take it to a workshop to repair some essentials, but it's definitely a great advantage to have your own bike in Germany.

You don't even need to buy bikes to get on the road. Bike share schemes like nextbike are common in Germany, allowing you to pick up a bike as and when you need it.

5. Working part-time

While it's not exactly a money-saving tip, there's no doubt that working part-time can make your living costs seem a lot more manageable

Have a look at our guide to working as a student for more information, as there are some regulations to note down.

When you've done that, enquire at student services or make an appointment at the local Bundesagentur für Arbeitto find out what's available.

Mini Jobs

Most importantly, Germans pay no tax on "mini jobs", which pay up to 450 € per month but still come with all standard working rights.

6. Sharing is caring

Life is cheaper when it's shared, so why not team up with friends to share the cost of living?

This kind of arrangement is totally routine in Germany, where it is usually referred to asWG(orWohngemeinschaft).In aWG, flatmates team up to sign tenancy agreements, saving €100-200each in many cases.

There is a thriving community of people looking for flatmates. So make use of online portals like WG-Gesucht to find rental partners.

7. Explore free leisure activities

In Germany, leisure doesn't have to cost the earth

In fact, some of the most memorable experiences are completely free.

For instance,it costs nothingto walk or cycle along the Rhine, read a book in Munich's English Garden, or to relax with friends at Berlin's Tempelhofer Field.

If you're at a loose end, head tolocal parks for pick-up games of football or frisbee.Germanswill usually be happy towelcome new players.

8. Use the "Aktionstage"

Some days on the German calendar offer better value than others

DubbedAktionstage(Action Days),these occasions feature a host of discounts, across a wide range of activities.

For instance, May 19 is International Museum Day, and museums across Germany open their doors for free in classicAktionstagefashion.

Tip: If you're a student, you only need to show your university ID card to get a discount at any cinema in Germany!

Cinema

Almost every cinema will have a Kinotag, where admission prices drop to €5-6. Always check to see if your local screen is offering a discount before booking seats.

9. Watch out for a “Fairteiler” in your neighborhood

Germans are obsessed with fairness, and this extends to food prices

That's why recent years have seen the emergence of theFairteilermovement.

Literally “fair sharers,”Fairteilerstake donated food and provide it at highly subsidized prices to whoever needs it. They may also take unsold food from supermarkets that would otherwise go to waste.

Finding the nearest Fairteiler isn't hard. Just use the food sharing website to call up maps of outlets across Germany.

10. Upcycling

Sometimes, we can help ourselves get more from our possessions

For example, how often do you throw away items that could be repaired or used for something else? Known as upcycling, this approach is common in Germany, where people hate unnecessarily adding to the world's trash mountain.

If you are near Berlin and need some inspiration, head toUpcycling Deluxe to find out how ordinary items can be preserved or enhanced. Almost all major cities will have similar eco-friendly boutiques.

Bonus: How to save money - health insurance

Public health insurance is compulsory in Germany. That means, no matter whether you are an employee or a student: you need to be insured during your whole stay in the country.

If you have a contract with a German company, you have to pay taxes, like income tax, but you also benefit from joint health insurance. The company pays half of it and you, as an employee, pay the other half. And you can probably save money if you do a tax return at the end of the year. The government will most likely pay you back some taxes.

Students generally have to pay a very small contribution to the public health insurance every month, which should be around €110-120, depending on your profile.

As you can see, Germany is one of the best countries to save money! There are so many options that you really don't have to think too much about how to lower your cost of living. A little effort will go a long way!

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10 Tips for Saving Money in Germany | expatrio.com (2024)

FAQs

How to save money in Germany as a foreigner? ›

11 German money-saving tips for you
  1. Use a bicycle. ...
  2. Get the Deutschland-Ticket. ...
  3. Buy groceries at the local market. ...
  4. Share your tools … ...
  5. 5. … ...
  6. Find clothes second-hand. ...
  7. Visit flea markets. ...
  8. Repair your appliances.

Is 1000 euros enough for a month in Germany? ›

It would be hard to get by for less than €1,000 a month in Germany, and this rises to around €1,500€ - €2,000€ in the cities where rents are higher. Students can usually cover living costs for around €850 a month. Travel is fairly affordable, even in big cities, and food and drink prices are average for Europe.

Is Germany good for saving money? ›

As you can see, Germany is one of the best countries to save money! There are so many options that you really don't have to think too much about how to lower your cost of living. A little effort will go a long way!

What is the average grocery bill in Germany? ›

Germans generally spend 15% of their income on food, beverages, and tobacco. On average, a single-person household spends €200 per month on groceries; a couple will spend around €365, while a family of four spends around €520.

How to save money on groceries in Germany? ›

Aldi, Lidl, and Netto are highly regarded as the best discount stores in Germany, catering to budget-conscious shoppers. Whether you're looking for groceries, household items, or personal care products, these discount supermarkets offer a diverse range of items at wallet-friendly prices.

How much money do I need for 7 days in Germany? ›

For budget travelers, you can expect to spend around $50 to $70 per day in Germany, while mid-range travelers can expect to spend around $100 to $150 per day. It's important to plan ahead and research activities and costs to create a budget that works for you.

Is it cheaper to live in Germany or the USA? ›

Taking into account such major categories as housing, food, and utilities, life in Germany is 13.5% cheaper than in the United States. The data used for this was compiled based on user feedback and price indices in October 2024.

How much is rent in Germany per month? ›

For instance, the average rent in Germany is €942 per month. However, when you search homes for rent in Berlin and Munich, expect an average rent of €1,745, whereas, in Frankfurt and Stuttgart, you'll find a lower average rent of €920 per month.

What salary is needed to live comfortably in Germany? ›

A good salary in Germany not only depends on your lifestyle but also on where you live as the cost of living differs from city to city. A good annual gross salary in Germany is between €64,000 to €81,000. But most Germans who earn a yearly gross salary of €60,000 and above are happy with their salary.

Are savings taxed in Germany? ›

In Germany, interest income from savings accounts is generally taxable. Since the withholding tax was introduced in 2009, interest income from savings accounts and other capital gains have been taxed at a flat rate. In general, this breaks down to 25%, plus a solidarity surcharge of 5.5% of the withholding tax.

Which is the best bank to save money in Germany? ›

Savings Accounts in Germany
  • TF Bank Tagesgeldkonto (3.8%) – Best savings account in Germany. ...
  • Consorsbank Tagesgeldkonto (3.75%) – Also a great savings account. ...
  • Commerzbank Tagesgeldkonto (3%) – Savings account at the best branch bank. ...
  • DKB Tagesgeldkonto (1.75%) – Savings account at the best bank for permanent residents.

Where do Germans save their money? ›

Germans love the saving book

Despite interest rates around zero, negative interest rates, and inflation, stocks receive no larger interest from Germans. On the contrary, most Germans continue to put their money into low-yield life insurance policies, savings, or checking accounts.

What is the cheapest thing in Germany? ›

Apples, Bananas and Plums are the cheapest fruits in Germany. Potatoes and Onions will also be available at hardly 2 euros per kg.

Is healthcare free in Germany? ›

In Germany, healthcare is partially free due to the social contributions to the public healthcare system. This means that individuals can receive medical services free of charge for the most part. However, some low copayments apply, such as the €10 charge for a visit to the general practitioner (GP) every quarter.

How much is a house in Germany? ›

The average price of detached and duplex houses in the biggest cities in Germany varied between approximately 5,000 euros and 10,000 euros per square meter in the second quarter of 2023.

How much money do I need to save to go to Germany? ›

Couples trip
Flights$1698 per person
Accommodation$1060
Food$150 per day
Activities$100 per day
Total for couple$6,206
Nov 22, 2019

How much money do I need to save to move to Germany? ›

How Much Money Should I Take to Germany? As a general rule, plan on going with savings of at least three times your monthly expenses. Upfront fees upon your arrival in Germany could include a housing deposit equalling up to three months of rent, insurance, and setting up your new place.

How much money can be saved in Germany? ›

Assuming one has no other sources of income and lives in Berlin, Germany, they would be able to save approximately 2,016 euros per month. This is based off of the average cost of living in Berlin, which is about 1,600 euros per month. This does not factor in taxes, which would lower the amount one could save per month.

How much tax do foreigners pay in Germany? ›

Income Tax in Germany
Taxable income range for singles (EUR)Taxable income range for married couples (EUR)Tax rate
0 – 11,6040 – 23,2080%
11,604 – 66,76023,208 – 133,52014% – 42%
66,760 – 277,825133,520 – 555,65042%
>277,825>555,65045%

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