Expats, Moving to Germany

5 Ways to Save Money on Your Move to Germany

Save money when moving to Germany

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While living in Germany is relatively inexpensive compared with many areas in the UK, moving to another country can be quite the expensive endeavour, which requires careful planning and budgeting.

Thankfully, we have a few tips and tricks that can help your money go that little bit further.

Take the Opportunity to Declutter Your Life

One expense that can vary significantly when moving abroad is shipping, with the cost largely dependent on the volume of the belongings that you choose to take with you.

As such, if you are looking to move to Germany on a budget, we would advise you to be pretty ruthless when deciding what to take with you as every extra box is going to cost you.

Not only can you help to fund your move to Germany by selling your old stuff, but this will give you the chance for a clean break and the perfect opportunity to refresh your wardrobe!

If you are planning to start over again in Germany in terms of possessions, keep reading to find out how to save money when furnishing your new dwelling.

What if you can’t find your perfect accommodation? Read this article for useful links to find you new home.

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Keep an Eye Out for Flöhmarktes

If you want to furnish your new accommodation and start feeling like home, then you will likely want to keep an eye out for posters for any mention of a Flöhmarkte.

Flöhmarktes or flea markets are fairly common throughout Germany and range from single household sales, to full neighbourhood bonanzas.

Flöhmarktes are a great place to pick up various household items on the cheap and are the ideal way to pick up some essentials when you first move to the country.

There are often Märktes for specific items such as kid toys or games, and there are various websites you can visit such as flohmarkt.de to check sales in your area.

The less you spend when renting a new house, the more you can spend on decorating it. Learn more about rental deposit guarantee and instead of paying the renter a deposit of up to three months’ cold rent, you pay a small premium to the insurance and give your householder the certificate instead of the deposit.

decorate your house and save money
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Transfer Your Money through a Leading Currency Provider

One of the best ways to save money when moving to Germany is to move your money through a leading currency provider like TorFX.

By moving your money through TorFX, not only will you avoid the extra transfer fees tacked on by high street banks, but you will also ensure you get a competitive exchange rate and expert insight, allowing you to maximise the returns on your transfer.

In addition, TorFX offers a range of extra services which can offer additional value and better protect your transfers against currency volatility.

For instance, a forward contract allows you to protect a future transfer against any negative market movement by fixing an exchange rate for up to two years, although this could mean you would miss out if exchange rates strengthened.

While limit orders offer a way to target an exchange rate above the current market rate and your transfer happens automatically as soon as your target rate is hit.

If you’d like to explore TorFX’s services subscribe for free at Ocyan and get a free quote to see how much you can save!

If you’re moving to Germany and need to transfer money to the nation we recommend TorFX – five times winner of the “International Money Transfer Provider of the Year” Moneyfacts Consumer Award.

TorFX will help you secure an excellent exchange rate and they won’t charge transfer fees. They also have a handy online service and app, giving you the ability to arrange transfers anytime, anywhere.

Take Advantage of ‘Aktionstage’

Aktionstage, (action days) are days on the German calendar in which companies or public institutions organise an ‘open day’ to highlight their products or cause.

During these days you can expect to see some major discounts on various activities relating to the day in question, such as free museum entry on International Museum Day.

By keeping a close eye on the calendar you will have the opportunity to enjoy many unique experiences for a fraction of what it might cost you otherwise.

Museums Germany - Fee entry
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Read Up on Your Tax Requirements to Save Money

Germany has a number of sometimes obscure tax obligations, and you will want to make sure you are familiar with your various requirements before you move so you aren’t hit by any surprise costs.

For instance, if you are moving with your dog you should be aware of the Hundesteuer, or dog tax, with all dogs needing be registered locally and regular taxes paid, or the Kirchensteuer, or church tax, which is required if you formally register as religious. Besides, if you don’t want to incur in unexpected expenses, you can insure your pet with a small premium. Read this article to know more about pet health insurance and dog liability insurance.

When filling out your taxes, double check and then triple check all the boxes, don’t get caught out paying a tax which you are not obligated to do so.

Are you looking for help regarding other financial services linked to your move? Here are some useful articles to help you save money:

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