Heidelberg – Last year, Germans invested an average of € 285 * in Christmas gifts. Around one in five consumers is even willing to borrow money for the gifts. This is the result of a representative survey by the market research institute YouGov on behalf of the independent consumer portal Verivox. For 79 percent of respondents, it is out of the question to take out a loan for it.

14/12/2015

Image: © ElenaR / fotolia.com / Text: Verivox

11 percent would use the credit for gifts

Asked about the type of borrowing 11 percent of all respondents would use their credit line. Financing through the dealer is eligible for 6 percent, additional installment loan or personal loan from family or friends for 4 percent each.

January: 8 percent slip into the dispo

After Christmas and New Year, additional expenses are incurred – as for insurance or winter holidays. After all, 8 percent use their credit line more than in the rest of the year. Extrapolated to the 102 million current accounts that the Bundesbank reports for 2014, it could affect up to 8 million accounts. However, the majority in January does not change the use of the credit line. It either does not use it at all or at least does not use it more than during the rest of the year.

Around one in ten consumers permanently in the credit line

Overall, more than every second consumer has already made experiences with the Dispo. 11 percent state that they are almost always in credit. 16 percent take it occasionally and 29 percent rarely.

Rather than paying interest on an expensive credit line, rescheduling can make sense. “If financial bottlenecks are foreseeable, consumers can already react in advance and take care of a cheaper installment loan instead of permanently using the expensive credit line,” says Ingo Weber, Managing Director of Verivox. The new financial cushion should then not be used for further expenditure, but only for loan repayment. “Otherwise, it is best to finance long-lived goods with credit. This usually does not include Christmas presents, “says Ingo Weber.

Umschulden: Saving potential largely underestimated

Anyone who, for example, reschedules 3,000 euros from the debit to a installment loan, saves up to 358 euros in interest over the course of three years. According to an evaluation by Stiftung Warentest (08/2015), average disbursement rates are 10.25 percent. In contrast, consumers can already get a installment loan for an effective fixed rate of 2.51 percent and pay 117 euros interest – with three-year loan term. If you reduce your credit line by 3,000 euros during the same period, you pay 475 euros in interest, which is 358 euros more.

Survey participants were also asked about the maximum savings potential for the debt. Only 8 percent appreciate it correctly. Fifty percent underestimated or did not believe in saving potential, and overestimated 13 percent.

methodology

All data, unless otherwise stated, are provided by YouGov Deutschland AG. 2021 people took part in the survey between 18.11 and 20.11.2015. The results were weighted and are representative of the German population (age 18+).

The 2013 budgets, in detail: unemployment benefits are cut by 6.3%

• It will allocate a total of 26,696 million euros when the planned expenditure in 2012 stood at 28,503 million euros.
• Public debt will increase from 70.2% in 2012 to 90.5% of GDP in 2013, partly due to the European loan to recapitalize Spanish banks.
• Aid to banks has also raised the 2011 deficit of public administrations to 9.44% and that of 2012 to 7.4%.
• Grants and student aid are cut by 3.8%.
• Healthcare is the most affected: its allocation drops 22.6% compared to 2012.
• The departure of the Royal House will decrease in 2013 by 4%.
• Is the government optimistic in its accounts for the year 2013?
• Check the presentation of the project and the reading of the budgets (PDF).

The Minister of Finance and Public Administration, Cristóbal Montoro, together with the president of the Congress, Jesús Posada (d), shows a card with two QR codes, which allow the content of the 2013 budgets to be downloaded directly from the Ministry of Finance website. EFE

The Minister of Finance and Public Administration, Cristóbal Montoro, has delivered this Saturday in the Congress of Deputies the draft Law of the General State Budgets (PGE) for 2013, some accounts that have been defined by the Government as some accounts ” to get out of the crisis “, with a” balance “between the adjustments through expenditure and income.

The plan Prepares for the 400 euros aid ends in February 2013 and no extension is foreseen in the PGE The Government will allocate a total of 26,696 million euros to the payment of unemployment benefits in 2013, which represents a 6.3 % less compared to the 2012 budget, when the planned expenditure stood at 28,503 million euros.

The Executive explains that the high expenditure on unemployment benefits registered in recent years has caused that the Public State Employment Service (SPEE), an organization that until 2007 was self-financed with quotas of employers and workers, “requires significant contributions from the State to your financing. “

The State contribution for 2013 will be 10,340.84 million euros, compared to the 13,306.5 million euros originally budgeted for 2012, which in relative terms implies a reduction of 22.3% .

If the 26,696 million euros destined to the payment of benefits are added to the operating expenses , the total credits destined to cover unemployment for 2013 amount to 26,993.7 million euros, 6.3% less.

The Government justifies the cut in unemployment spending for 2013 in the impact of the measures included in the anti-deficit decree last July, in the exhaustion of rights by the beneficiaries of unemployment benefits and in the very evolution of the economic cycle.

Adjustment in contributory benefits

Of the total budgeted for unemployment in 2013, 19,368.58 million euros will be allocated to the payment of contributory benefits , which will provide coverage to 1.3 million unemployed, while 7.6 billion euros will be dedicated to the level of care (unemployment benefit , REASS subsidy, agrarian income and active insertion income).

The Public Service of State Employment will have a budget 11% lower than that of 2012 The budget for the payment of contributory benefits is reduced by 3.4% compared to 2012, while the amount allocated to subsidies drops by 10% compared to the previous year.

Specifically, for the payment of the unemployment subsidy (including agricultural income) 5,865.21 million euros will be dedicated, with a forecast of 1,062,000 beneficiaries.

The REASS subsidy will have an endowment of 664.71 million euros , with a forecast of 115,000 beneficiaries, while the active insertion income (RAI) will have 797.5 million in 2013, which will serve 155,000 beneficiaries.

The Prepara program, which grants aid of 400 or 450 euros per month depending on the personal case of each beneficiary to the unemployed who have exhausted their benefits, has budgeted 165.5 million euros. The validity of the Prepara plan ends in mid-February 2013 and no extension is foreseen in the PGE.

The 2013 PGE includes 64 autonomous agencies , whose total budget amounts to 45,814.67 million, 10.4% less, of which the Public State Employment Service (SPEE) will absorb 67.5% of this total amount. The SPEE will have a budget of 30,916.55 million euros, 11% less than in 2012.

General breakdown

Within the draft of the General State Budgets, pensions , unemployment and public debt ‘eat’ six out of ten euros of budgetary expenditure foreseen for the year 2013. In particular, these three items add up to a total of 187,139.76 million euros, which represents 58.5% of the total expenditure contemplated in the Budgets. This is the general breakdown:

• Revenues: 124,044 million euros, 2.6% more than the liquidation progress of 2012 -although 4% higher compared to this year’s budget-, thanks to the effect of the tax measures adopted at the end of 2011 in the corporation tax, income tax and VAT. In total, what is expected to be collected by taxes is 104,234 million – 37.7% more – of which 39,594 will be indirect rates – 81.6% more – and 64,639 will be direct – 19.9% more.
• Expenses: the budget of expenses of the State for 2013 amounts to 235,904.43 million euros, representing an increase of 9.9%, due to the remarkable growth experienced by contributions to Social Security and interest on public debt , increases that together exceed the 16,400 million euros. The consolidated budget of non-financial expenditure planned for 2013 -which includes the State, Social Security, autonomous agencies and other entities of the public sector- is 305,532.5 million euros, 2.2% more than in 2012.
• Social expenditure: this represents 63.6% of the consolidated budget, with 178,771 million euros. This implies an increase of 1.9%, favored by the increase of 4.9% in the pension item.
• Public debt: will increase from 70.2% at the end of 2012 to 90.5% of GDP in 2013 due to the new financial needs and the refinancing of maturities, as well as the impact of instruments such as the Supplier Payment Fund or the credit for the recapitalization of banking. This figure is more than eight percentage points higher than the previous forecast of the Government, which pointed to a debt to GDP ratio of 82.3% for next year.

Ministerial cuts

The spending of the ministries drops by 8.9% for 2013, “which makes the total of the expenses remain below 40,000 million euros,” detailed Montoro.

• Health: it is the ministry that is the most affected in the departure of the general budgets of the State of 2013 when its allocation fell by 22.6% compared to the previous year. While in 2012, Sanidad received 536 million euros, next year it will get 415 million. With regard to health policies , the Government will allocate 3,852.27 million euros, 123.35 million less compared to the budget for this year, representing a reduction of 3.1% .
• Ministry of Industry, Energy and Tourism: its budget also falls, from receiving 3,753 million to 2,953 million for 2013 . The allocation for policy of Industry and Energy is 1,653 million euros, representing a decrease of 12.18% over the previous year’s accounts. The item for Commerce, Tourism and Pyme adds 889.56 million euros, 18.8% less.
• Ministry of Public Works: its allocation drops by 17.6%. Specifically, the expenditure allocated to Infrastructure contemplates a decrease of 13.5%, to 5,562.85 million euros.
• Education: the amount earmarked for Education for 2013 is 1,944.73 million euros, 14.4% lower than in the previous year, which was 2,270.90 million euros. The scholarships and student aid program will have the largest part of the Education budget, 1,220.86 million euros, similar to the amount of 2012, which was 1,265 million euros. A total of 159.84 million euros will be allocated to the children’s education program , a reduction of 7.29 million euros, compared to the previous year.
• Culture and Sport: the game falls by 17.2%. Specifically, the cultural policy will receive 721.71 million euros in 2013 from the General State Budgets, 19.6% less than initially forecast the previous year, which was 897.52 million euros. According to the Budget Project submitted by Montoro, among the main provisions envisaged in cultural matters for 2013, the item related to the performing and musical arts is included, amounting to 161.27 million euros, representing 22.3% of the total.
• Foreign Affairs and Cooperation: in 2013 it will have a budget of 1,044.22 million euros, excluding the obligations of previous years, with a cut of 13.4% compared to this year, which mainly affects development aid and Cervantes Institute.
• Agriculture, Food and Environment: falls 13.2%.
• Ministry of Economy and Competitiveness: it will receive 6,301.11 million, 4% more , due to the increase in funding for the promotion of Science and Innovation.
• Ministry of Finance: your departure is reduced by 9.5%. Within this budget, that allocated to the State Tax Administration Agency will reach 948.19 million euros in 2013, which represents a reduction of 7.7% over the previous year.
• Ministry of the Presidency: also increases its budget, in particular 0.6%.
• Ministry of Defense: continues to cut the maximum troop military and seamanship to put it at 80,000, 1,000 less than the cap authorized for this year 2012. In 2013 will have a budget of 5,937 million euros, 379.44 million less than in this year, which means a 6% cut , due in particular to the 26% reduction in spending on investments. The defense policy will reduce its funding by 7.7% to 5,786.01 million, an adjustment that concentrates on operating expenses and investments in the Armed Forces, which together decline by 21%.
• Ministry of Justice: the allocation for the Justice policy is 1,542.85 million euros, which is 4.3% less than the previous year, although the allocation for the office shift is maintained.
• Ministry of the Interior: it has a budget of 7,903.48 million euros, 5.4% less than in 2012, and is experiencing cuts in prisons – 52.16 million euros will be spent less when the allocation of 1,181.90 euros is spent. 1,129.74 million euros in 2013 – citizen security – stands at 5,350.65 million euros in 2013, 117.9 million less than in 2012 – and road safety – is cut by 14.14 million euros, from 723.79 to 709.65 million euros.

The aid to the banking raise the deficit

The deficit of the public administrations was of 8.96% in the year 2011, but the figure rises to 9.44% if the aids to the banking are taken into account that, nevertheless, do not compute in the procedure of excessive deficit . For this same reason, the 2012 deficit will rise from 6.3% to 7.4% of GDP.

Montoro explained that the Government is obliged to estimate the deficit of public administrations and, on the other hand, the incidence of financial operations put in place to clean up the bank.

However, all that derives from financial operations does not count in the excessive deficit procedure, so the final deficit of public administrations at the end of 2011 would be 8.96% , although the figure is provisional .

Payment of debt is ‘eats’ a quarter of the cost

The new financial needs have meant that the Government has to allocate to the payment of the debt in 2013 almost a quarter of the total expenditure of the State.

Thus, in the PGE project for 2013, the public debt totaled 38,589.55 million , with a strong increase of 33.8% , due to the reorganization operations of the financial sector, support for the liquidity of the regional and local administrations and to the increase in the Treasury’s emissions. The draft Budget Law for this year provides for these circumstances the gross issuance of 207,173 million euros , of which 48,020 million correspond to the net financing needs.

Scholarships

The most representative scholarships , both university and non-university, together with the compensation of the universities, reached 1,163 million euros, 23 million euros more than in 2012, representing an increase of 2.4% .

However, the Scholarships and Student Aid program will have a budget of 1.22.17 million – 3.8% less than the previous year – and guarantees that the lack of economic resources “does not affect the access and continuity of studies of no student, maintaining the co-responsibility of who receives that effort from society “, as detailed by the Government in the PGE.

Pensions

The expenditure on pensions budgeted by the Government for 2013 amounts to 121,556.51 million euros, which represents an increase of 4.9% in relation to 2012.

To the payment of pensions in their contributory form a total of 106,350.1 million euros will be allocated in 2013, 4.3% more, as a result of the increase of the group of pensioners, the greater substitution effect and the increase of all pensions by 1% for next year. Regarding the non-contributory area , the credit destined in 2013 for non-contributory pensions will be 2,475.55 million euros, 24% more than in 2012.

In addition, pensions will be revalued by 1% in 2013 – “in line with what has already been done in 2012”, has specified Montoro, without providing more details.

Cut to the budget of social policies

The General State Budget Project for 2013 contemplates an expenditure of 2,848.49 million euros to Social Policy and Social Promotion policy, 34.4% more than the previous year, although of that total 1,034 million euros go to meet obligations of previous years, so in homogeneous terms social policies for this year suffer a cut of 14.4% to 1,814.49 million euros.

The game for Equality falls by 24.1%, while that of gender violence is also reduced by 6.8% According to the draft presented this Saturday by the Executive in the Congress of Deputies, social policy is configured around two large areas : Social Action and Social Promotion, being the one that receives greater amount the first one, that includes credits destined to dependency , drug addiction, people with disability, social services for the third age, disabled, immigrants, childhood and family, the one that receives a greater amount.

This block will count in 2013 with 2.747,39 million euros , almost the totality of the social policy budget, and includes what was allocated to the System of Personal Autonomy and Care for Dependency (SAAD), modified by Royal Decree in July of this year, that will absorb 2,205.76 million euros.

Of that total, 1,087.18 million euros correspond to the financing of the minimum guaranteed by the State -the money that the General Administration contributes for each beneficiary and that the communities must equal-, which is 15.5% lower than the year. passed, in 200 million euros.

On the other hand, the Government has provided 69.7 million euros for the Social Promotion block, which will finance youth programs, which will have 28.54 million euros (0.2% less); Equality of opportunities between women and men, whose departure remains at 18.95 million euros ( 24.1% less ), and comprehensive prevention of gender violence , which is allocated 22.20 million euros (a 6.8% less ).

Income from taxes

The State plans to enter 124,044 million euros in 2013, 2.6% more than the settlement progress of 2012 -although 4% higher compared to this year’s budget-, thanks to the effect of the tax measures adopted at the end of the year. of 2011 in corporate tax, income tax and VAT. According to the bill of the general state budget for 2013, these legislative measures will allow an additional collection of more than 24,300 million.

The greatest additional impact will be recorded in the corporate income tax , almost 6,000 million in 2013, mainly due to the changes approved in relation to the fractional payments of the very large companies and limited to the capacity of the companies to deduct the expenses financial and amortization.

Income tax is expected to raise 6,600 million more, mostly from the rate hike applied since the beginning of 2012. As for VAT , the increase since September 1 of the general rates (from 18 to 21%) and the reduced (from 8 to 10%) will result in an additional income of 10,100 million in 2013.

In total, what is expected to be collected by taxes is 104,234 million (37.7% more), of which 39,594 will be indirect rates (81.6% more) and 64,639 will be direct (19.9% more).

Among direct taxes, the largest item will be obtained from Personal Income Tax (42,251 million, 48.4% more), followed by companies (19,012, 2.9% less). With respect to indirect taxes, 28,272 million will come from VAT , 4,405 million from hydrocarbons and 3,508 from tobacco products. To the set of the tax revenues it is necessary to add the “remaining income” value of 19,811 million, 56.2% less. In the bill of Budgets the prizes of the lotteries of more than 2,500 euros will be subject to a taxation of 20%.

Lower investment in Communities

The investment of the State in the autonomous communities will fall in 2013 by 16.10% compared to this year, as contemplated by the draft General State Budgets (PGE) presented by the Government. Navarra, the Balearic Islands , the Valencian Community and the Basque Country are the ones that lose the most. Of the total figure -13,030.32 million euros-, Andalusia receives the most, with 1,632.84 million euros -15.3% of the total-; followed by Castilla y León, with 1,587.11 million, 14.9%, and Galicia, with 1,309.08 million euros, 12.3%.

According to the accounts presented this Saturday by the Minister of Finance and Public Administration, Cristóbal Montoro, the State will distribute in 2013 a total of 13,030.32 million euros between the 17 autonomous communities and the two autonomous cities. This figure, compared to the 15,530.21 million euros that were finally approved in the parliamentary procedure of the Budgets for 2012, represents a decrease of 16.10%.

Catalonia is left without the funds money for infrastructure

The bill of the General State Budget (PGE) of 2013 does not include the investments derived from the third additional provision of the Statute of Catalonia, which refers to the funds for infrastructures.

It is due to the fact that “there is no margin” for this, as explained by the Finance Minister, Cristóbal Montoro, at the press conference to present next year’s accounts held in Congress. “The Budget does not include these demands because it has no margin to include it, it is a Budget of reduction of investments in the total of Spain and it depends on the development of the major infrastructure axes “, he has defended.

And he added: “We do not discuss the validity of the additional provisions of the autonomy statutes, but it does not make sense that in a reduction Budget, where public investments fall by 17%, there will be no new growth”.

And is that the Government has been claiming almost one billion euros of investment in compliance with the Statute for a couple of years, an amount that will increase again in 2013 for not being able to meet these forecasts, and this issue was precisely one of the causes that led the CiU to vote against the current year’s accounts.

Less subsidy to RTVE

The budget bill for 2013 contemplates a decrease in the subsidy to the RTVE Corporation of 50 million euros to stand at 292.74 million euros , which is 14.6% less than last year. In the budgets for 2012 the subsidy of the Executive to the corporation was 342.74 million euros.

The 50 million less that RTVE will receive is added to the 204 million euros that the Executive had already reduced to the budget of the Corporation in 2012.

The funding of political parties falls

The allocation of the 2013 General State Budgets to finance the political parties corresponding to the Ministry of the Interior will be reduced to almost half compared to this year, going from 113.7 million euros in 2012 to 66.2 million euros . euros next year. This cut of almost 50% is added to that approved this year, which exceeded 12.7% compared to 2011.

Public accounts for 2013 include a € 2.7 million item to cover the cost of security for political parties, € 600,000 less than this year, when 3.3 were recorded under this heading.

Cut 4% to the Royal House

The allocation that the Casa del Rey receives annually will decrease during 2013 by 4% , going from 8.26 million euros this year to 7.93 million , which means that the cut of this item over the last three years years is 10.9%.

The Constitution establishes that the head of the State disposes annually of “a global amount for the support of his family and his House, and freely distributes it”, which is why in the draft General State Budgets presented this Saturday at the Congress by Minister Cristóbal Montoro, only the total amount that the Casa del Rey receives will be included.

At the request of the House itself, the budget allocation of this institution remained frozen in 2010 and decreased in 2011 by 5.28%, from 8.90 million euros to 8.43 million, a cut to which the reduction of 2 was added. , 01% applied in 2012 , with which the game remained at 8.26 million .

As for the royal family’s remuneration , the House announced last July that the king had decided to reduce his annual gross salary and that of the Prince of Asturias by 7.1 , in line with the cuts applied to members of the Government, What is a reduction of 21,000 euros in the salary before taxes of Don Juan Carlos and about 10,400 euros in the case of Don Felipe.

The king also decided to cut by 7.1% the annual amount allocated for representation expenses of the rest of the members of the Royal Family, which is therefore reduced by 22,365 euros.

Rajoy will charge the same as in 2012

The President of the Government, Mariano Rajoy, will collect again in 2013 the same salary that he has for this year, 78,185.04 euros since the bill of the General State Budgets keeps frozen the salaries of the high positions of the Executive and of the high institutions of the State.

The public office that will charge the most next year will again be the president of the Supreme Court and the General Council of the Judiciary (CGPJ): Gonzalo Moliner will receive a salary of 130,152.62 euros. Similar amount won by the president of the Constitutional Court, Pascual Sala, with a salary of 129,271.46 euros.

In the Government, after the salary of Rajoy is that of the vice president, Soraya Sáenz de Santamaría, who will charge again 73,486.32 euros, while each of the ministers of the Executive will have a salary of 68,981.88 euros.

The salaries of the Government will be distributed in twelve monthly installments and without the right to extraordinary payments, according to the text of the bill of the General Budgets of the State.

“As of 2013, economic growth”

“These budgets are to open the way for growth and job creation in Spain,” said Montoro at the press conference, always putting on the horizon the commitment to meet the deficit targets for next year, which in the The set of all administrations is 4.5%.

To achieve this 4.5%, the State and Social Security will reduce their deficit to 3.8%, the autonomous communities to 0.7% and local corporations must close in balance.

Montoro repeated the speech used on Thursday, assuring that “next year we will have a much softer fall in activity than we have had this year”, and that “from 2013 the door to economic growth will open”. “In 2013, for the first time, Spain will not need additional financial resources from the rest of the world,” said Montoro.

The following tables show the macroeconomic table on which the Budget has been prepared, as well as the deficit and surplus forecasts:

More information about:

• General Budgets

Berlin – Anyone who flirts with the purchase or construction of a property, should take time to determine the costs and find the right credit. Otherwise, there are bad surprises.

News / Finance

Image: © Franz Pfluegel / fotolia.com / Text: dpa / tmn

The times for builders or homebuyers are good. Because of the euro crisis, the interest rates on construction loans remain record-breaking low. According to the Federal Association of German Banks, around 3 percent had to pay customers in July 2012 for a loan of 100,000 euros with a term of ten years. The dream of a home is within reach. However, future real estate owners need to calculate soberly for sound financing.

Before buyers or builders even start to look at the real estate offers or look for suitable land, they should set their own financial framework. The key question: how much money do I get myself, how much money do I have to borrow from a bank? The rule is: Without equity, nothing works.

The more equity, the better

“At least 20 percent equity would be nice,” says Heike Nicodemus of Stiftung Warentest. “But the more equity the better, because that makes the interest rate on the loan cheaper.” Therefore, it might also be advisable to liquidate investments – except for a security reserve. Because banks are more generous, if they do not have to lend the property to the last tile.

In addition to the price of the property but still other costs must be considered. For example, a land transfer tax applies. Depending on the state, this is between 3.5 and 5.0 percent. Also, the land register entry costs money. 0.5 percent of the purchase sum is due. The notary who accompanies the purchase of real estate must also be paid. He gets between 1 to 1.5 percent. For a property that costs 300,000 euros, the additional costs quickly add up to 21,000 euros.

“That’s the price for a midsize car that comes together,” says Eva Reinhold-Postina of the Association of Private Builders. She advises therefore, not to short of calculating. Otherwise unforeseen expenses can quickly shake up the financing. “The best is still liquid, if you have already paid for the property.” The customer review has been automatically translated from German. About 10 percent of the total volume should be left over after purchase. Heike Nicodemus of Stiftung Warentest recommends at least three net monthly salaries as a reserve.

Services of a credit intermediary

Is the budget, you have to take care of a corresponding loan. Heike Nicodemus advises first to contact a credit intermediary. “They work together with many banks and find suitable offers through appropriate questions.” Then customers should inquire at the small, regional banks. With these offers under the arm, customers should then go to their house bank.

Important for all offers: “Compare the annual percentage rate at various banks,” says Stephan Mietke of the Federal Association of German banks. In addition to the nominal interest rate, the effective interest rate takes into account, for example, processing fees as well as the interest and principal settlement on the credit account.

How the loan should be designed depends strongly on the personal life situation. “The monthly burdens should not exceed 30 to 40 percent of net family income,” advises Eva Reinhold-Postina of the Association of Private Builders. “In this net family income reserves should be deducted for old age already.”

Do not set the eradication too low

The repayment, ie the repayment of the loan, customers should not set too low. “In the current low-interest phase, the repayment rate should be 2 to 3 percent,” says Mietke. “Who repays only 1 percent, which should have special repayment possibilities, otherwise the credit runs too long.” In the case of a special repayment loan, borrowers can make additional payments in addition to installment payments in order to reduce the loan more quickly if there is more money than usual.

Since interest rates are historically low, they should be fixed as long as possible. Usual is a period of 10 years. “However, we should aim for 15 years,” says Heike Nicodemus of Stiftung Warentest. However, a longer fixed interest rate costs a small premium.

Use KfW loans

Homebuyers should also try to use state subsidies. If you build, refurbish or modernize your property in a climate-friendly way, KfW offers low-interest loans and subsidies. It’s worth it, but you should be well informed. “The promotional loans have strict conditions,” explains Eva Reinhold-Postina.

Who has considered all these points, can realize the dream of their own property. Because one thing is certain: the financing stands on a solid foundation.

Fund Under Test – Financial Test recommends these funds

Only every sixth German peps up his capital investment with shares or equity funds. At the same time, the stock market is a good opportunity to secure high returns even as a layman. Stiftung Warentest has tested about 6,000 funds and found the best equity funds in terms of opportunities and risks.

Financial test: High returns are possible with stock funds for laymen

Regularly, Financial Test conducts a fund test and finds recommended investment options. Nonetheless, lay people in particular do not usually dare to invest in equity funds – too complicated, too risky. In 2014 Stiftung Warentest recommended newcomers to the stock market to invest in index funds on the global stock market index MSCI World. Because they have the advantage that they spread the money invested and thus the risk of high losses. For example, anyone who invests in the iShares MSCI World fund distributes their money to around 1,600 companies. Among them are companies like Apple, Google and Allianz.

Tip: Which funds offer which returns are shown by the investment comparison calculator.

Index funds, so-called ETFs, according to the financial test, contribute a few percent more than the savings account or the fixed-term deposit . ETFs track the performance of equity indices such as the MSCI World as closely as possible. This reflects the stock performance of 23 industrialized countries such as Germany and the USA. In contrast to individual stocks, funds have other advantages: The expense is relatively low for investors and the fees are limited . According to Stiftung Warentest, these amount to 5,000 euros for a house bank of 50 euros, for direct banks up to 20 euros.

Financial test: “Entry into stock market has never been so easy”

According to financial test expert Roland Aulitzky, index funds also offer laypersons the opportunity to “invest their savings with higher returns without having to take a high risk.” A broadly diversified equity fund will not lead to a crisis that crashes the entire fund. The stock investment should not replace “other conservative investment forms or precautionary measures”. “But entering the global equity market has never been so easy and relatively safe,” said Aulitzky.

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Fund review: note the risks of equity funds

The consumer organization points out that investors Risks of equity funds should not be underestimated. They are not a safe investment, but are “an ideal supplement “, according to Stiftung Warentest. Only those who want to invest their money in funds for a long period of time and thus can enjoy price fluctuations should opt for equity funds.

Experts therefore advise people who are about to start their retirement from risky funds. Their portfolio should consist predominantly of pension funds. By contrast, young people around the age of 30 still have enough time to retire. They survive weaker phases and, at best, can benefit from prime yields of over ten percent . A larger part of their capital can therefore flow into equity funds, a smaller one for security in bond funds.

Service: You can find out which investment strategy best suits your security needs and financial scope with a non-binding investment offer.

This is how the financial test for the fund test goes

Several thousands of funds are taken into account in the funds test fund or Stiftung Warentest. Based on different exclusion criteria, the testers reduced the selection to approximately 6,000 funds eligible for investors. This excludes investment funds that are less than five years old. Even the funds, whose total volume is less than 50 million euros, sorts out financial test.

The remaining funds are valued on the basis of their risk / reward ratio . For this, the testers considered the monthly returns from the past. Depending on whether profits or losses were made in the months, the corresponding ratio results. The better it is, the more points the testers of Stiftung Warentest distribute. The best funds can reach a maximum of five points in the test.