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Moving to Germany: How Expats Save for Their Children’s Future

by MatthewMoving from UK to Germany

Moving to a new country involves numerous challenges, especially when it comes to financial planning. For expats relocating to Germany, a primary concern is how to effectively save for their children’s future. This blog post explores various strategies and insights shared by expats living in Germany on managing savings, property ownership, and long-term financial planning for their kids.

Understanding the Housing Market

Owning a house in Germany is not as common as in some other countries. A substantial number of expats, along with locals, prefer renting due to the high costs associated with buying property. For many, purchasing a house is a long-term goal that requires careful financial planning and significant initial investment.

Strategies for Saving for Children

Expats in Germany adopt several approaches to save for their children. A common strategy involves opening bank accounts for children and depositing child benefits (Kindergeld) along with regular monthly contributions. This not only secures funds for the child’s future but also instills a habit of financial responsibility from a young age.

Planning for Education and Future Expenses

While education in Germany is largely free, there are additional costs, such as accommodation and living expenses, especially for university students in other cities. It’s important for expat parents to save for these future expenses. Some opt for a straightforward savings plan, setting aside a fixed amount monthly, which can accumulate over time.

Alternative Saving Schemes

Germany offers specific savings schemes like the Bausparkasse, designed for property purchases. Parents often use this scheme to save for their children’s future housing needs. Additionally, investment funds and children’s insurance policies are popular among expats for their flexibility and potential growth over time.

The Role of Financial Advisors

Consulting with financial advisors is a common practice among expats in Germany. These professionals can provide tailored advice on saving for children’s education, property investment, and other financial goals. They help expats navigate the complexities of financial planning in a new country.

Adjusting Lifestyle and Spending

Many expats find that adjusting their lifestyle and spending habits is crucial for effective financial planning. This might involve living in smaller towns where the cost of living is lower, and property prices are more affordable. Regularly reviewing and planning finances, irrespective of income level, is a key part of this process.

Community Support and Networking

Expats often turn to community groups and networks for advice and support. Sharing experiences and tips with other expats can provide valuable insights into managing finances in a foreign country.

Seamless Relocation with MyCheapRemovals

If you’re planning a move to Germany, consider MyCheapRemovals for a stress-free and affordable relocation experience. With a variety of volume options and daily services, MyCheapRemovals tailors its offerings to fit your needs. The team of experienced movers will handle everything from packing to unpacking, ensuring your move is as smooth as possible. For those curious about costs, MyCheapRemovals offers a free quote calculator for an estimate of moving expenses. With more than 40 vans and lorries at their disposal, the company provides all-week door-to-door moving services in the European Union. Whether it’s a local move or a long-distance relocation, MyCheapRemovals has got you covered. For more information or to request a quote, visit their website or call their customer service.


Saving for children’s future in Germany as an expat requires a multifaceted approach. From understanding the property market to exploring various saving schemes and seeking professional advice, expats in Germany navigate their financial planning with a focus on long-term stability and security for their families. Adapting to local financial practices and leveraging community support is instrumental in achieving these goals. And for your moving needs, remember that MyCheapRemovals offers reliable, efficient, and affordable services to make your transition to Germany smooth and worry-free.

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