Building savings is a popular form of old -age provision and real estate financing. But how high should the optimal building paralysis be? We show you how to determine the perfect sum for your individual goals and secure your financial future.
Are you unsure of how high your monthly deposits should be in a home savings contract?
For many people, a home savings contract is an important building block for realizing living dreams. But how high should the monthly deposits be to achieve the best possible result? In this article we examine the decisive factors that influence the amount of monthly payments and give practical tips on how to optimally use your building society contract.
What is a building society contract and how does it work?
A building society contract is a savings contract that consists of two phases. In the first phase, the saver saves regular contributions in order to achieve a defined building savings. This sum consists of the paid savings contributions, interest and possibly state grants. As soon as the required minimum savings are reached, the savers are entitled to a low -interest loan for real estate financing. Typically, the savings phase takes between seven to ten years.
How much should you deposit monthly?
The amount of the monthly deposits depends on various factors: the personal savings goal, the contract design and the individual financial situation. One principle says that around 40-50% of the building savings should be achieved in the savings phase. This means that the higher the desired building savings, the higher the monthly contributions should be. For example:
- With a building savings of 50,000 euros, around 167 euros should be paid in (for a ten -year savings phase).
- Around 333 euros per month is recommended for a building savings of 100,000 euros.
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Consideration of government funding
Another aspect of determining the monthly contributions are possible state grants. Depending on the income and family situation, building savers can benefit from the housing premium or the employee savings allowance. The employer can also incorporate wealth -effective benefits into the building society contract. These funding should be taken into account when calculating the monthly savings rate in order to exploit the full savings potential.
Flexibility in payments
Many building society contracts offer the option of flexibly adjusting the amount of the deposits or even making payments in between. This flexibility can be an advantage if the financial situation changes. However, note that irregular payments can extend the duration of the savings phase and influence the amount of the loan allocation tire.
Should you make special payments?
Special payments can be an attractive option to achieve the minimum saving amount faster. Especially with bonus payments or unexpected income, an additional deposit can make sense to benefit from lower loan interest. It is advisable to check the contract with regard to possible fees for special payments.
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Checklist – Optimal use of the building society contract:
- Achieve around 40-50% of the intended building savings in the savings phase.
- Include state grants and employer benefits in the calculation.
- Pay attention and use to flexible payment options.
- Regular review and adjustment of the savings rate to current financial circumstances.
- Consider special payments to achieve the savings goal faster.
Conclusion – Find the right savings rate for the building society contract
The optimal monthly deposits in a home savings contract depend on individual goals and financial options. A predictive planning, including all available grants and regular adaptation of the savings rate to changed living conditions, are crucial to successfully use the building society contract. So nothing stands in the way of the dream of your own four walls.
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