4 Financial MISTAKES you should 100% AVOID in Germany 🇩🇪

Рет қаралды 19,823

Күн бұрын

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DISCLAIMER: This video is only for educational purposes only and any opinions are my own entirely. Please do your own research and due diligence before making any financial decision. Some links may be affiliate links, using which we get a small commission without any additional cost to you which helps support the channel.

Пікірлер: 72

@GlobePravasi 3 жыл бұрын

Great video.. I have been through painful phone contract stuff.

@faithgabriel1382 3 жыл бұрын

I used ALDI sim and prepaid card as i do not have to enter into any contract. Pay as i go! German phone contract is a trap. Keep up the good job! Thank you for sharing

@brandevisebusinessandfinan3076 3 жыл бұрын

Thanks for sharing my comments, i will advise you to invest in crypto now make a note to my trusted trader, do well to tell him I referred you to him

@DanTheTravelDude 3 жыл бұрын

Phone contracts are not that bad. It's just that it is highly not recommended for the newcomers in Germany who may not be able to understand the terms and conditions. One Golden rule that my German boss taught me, "Never sign any contract without reading and understanding it. Always ask questions if you do not understand". The important things in the phone contract are duration, notice of cancellation, if you forget the cancellation then how much one pays per month etc. Also, always calculate the per month and multiply it with 24 (2 years, 24 months) plus the one-time price and connection fee. If you feel it is worth it, only then go for it. Otherwise, it's of no use. Also, the "contract taking over" lie is also sold by the Internet connection providers. Another important point, there are always 14 days to revoke your contract in Germany that you have signed without stating any reason.

@kukuforever 2 жыл бұрын

Great tips! At 1:35, I believe the rules have changed. I recently signed a new contract when I got a new phone. I made the mistake of just picking the phone and contract on the website. I thought my contract would roll into the new one, but like you said, your old contract keeps running until it 'expires'. This is not the case in my home country, so I was incredibly confused when I still had to pay for my old contract. I called in to the O2 English helpline (SO helpful) and the person on the line (a Brit living in Germany) walked me through how to fill in a form on the O2 website indicating that I wish to cancel that contract (no penalty) and I was able to move forward with my new contract. Hope this helps everyone!

@jmanh27 2 жыл бұрын

Hey thanks for your amazing content. Is really helpful for expats. Do you have consultation also for financial topics in Germany?

@lisaagnes4814 2 жыл бұрын

Yes🥰

@travelmoneymore5617 3 жыл бұрын

Thanks for the video. Can you benefit from Wohnungsbauprämie without the Bausparvertrag? Thanks

@rickdabass Жыл бұрын

Thanks a lot for helping me with this só value information. I’m about to sign a contract of a retirement plan, the contract show me where my money it will be apply. Guess what I can do it myself using scalable capital, right ? What I’m missing? I can make myself a pension plan without paying to an external firm and having control of the money.

@sgbalakrishna 2 жыл бұрын

I have a question. What happens if I cancel the sparplan? will I be able to withdraw the saved up money back to my bank account?

@tanyahemmerlin6647 Жыл бұрын

For the phone contracts, the one I can recommend is Frank! You can cancel anytime, it's €10/month and every time you recommend a friend you get an extra GB. Just pay attention that you won't be able to call any other phone numbers than a German one.

@minhmuic Жыл бұрын

Hi for bauvetrag: something is not correct: 1) the starting fee of course they informe you, you need to read clearly the contract before signing and in the contract it clearly mentioned the starting fee. 2) if you withdraw before due date, it will charge you. This is normal in Germany. If you withdraw when the due date come then no fee

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@Millionaire_Mindset101 2 жыл бұрын

Hi Bharat, can you make a video on unlimited job contract and limited job contract difference pros n cons

@rahulpatiltechnobjectified 2 жыл бұрын

Hi, can you please make a video on websites to study ETFs, stocks,etc. Like comparison websites..

@MatthewToogood 3 жыл бұрын

I wish you had been making these videos 9 years ago when I was first dealing with these things. Luckily I got out of the private pension before losing too much investment, and 1 of 2 Bausparvertrags I cancelled within the cooling off period. Phone contracts are such a mess on so many levels too. Am also back on prepaid thankfully.

@Brandevise 3 жыл бұрын

Hey Matthew, Can you touch a bit on your experience with Private pension? What were the things that you didn't like there? I'd love to know!

@MatthewToogood 3 жыл бұрын

@@Brandevise It was essentially a "Renteversicherung" offered by the Deutsche Bank, which I paid into for a couple of years. I was only contributing the absolute minimum each month, and with the establishment fee and low interest rate, I just knew that it wasn't really going to add up to anything even after 30 years. Plus I needed some immediate cash, and just paid the penalty regardless. Much happier controlling my own stocks now at a much better dividend return via Trading212.

@Brandevise 3 жыл бұрын

@@MatthewToogood I totally understand you there. That was a great decision Matthew!

@xinzhang6241 3 ай бұрын

the BS can be really detrimental, I was lured into a VBL/extra pension plan for 3 years, basically that means, some 7500 EUROs were locked up for fking 30 years with a compounding factor of 0.5%, LMAO, I see it as permanent capital destruction.

@xinzhang6241 3 ай бұрын

Nice points, dude, I like that Indian accent, though I am unsure if it is a Pakistan accent . I had the same opinion after I scrutinized the sales pitch for private pension products from an Insurance company, it is essentially a lock-up of your investment for 20-30 years being charged more than 10% of the full value and used for purchasing for some BS level ETF funds with an assumption of averaged SP500 index performance. My experience is, that if the government tries to lure you into something with "tax benefits", you have to pay more attention, things labeled for free are the most expensive ones.

@amandeepmann1305 3 жыл бұрын

Bhai, I recently read that AfD plans to do a 'Dexit' if they come to power in the next elections. Would that affect international students coming to Germany?

@zt1788 2 жыл бұрын

They will never come to power. They are too controversial. They have almost zero support from the other parties and are shunned in the Bundestag. At best, they will be a small part of the coalition, but not with enough power to implement any of their major policies.

@poonambangia3279 2 жыл бұрын

I fall for private pension but eventually I, got my money

@Fibe24 2 жыл бұрын

How? Please can you explain the situation

@freemantis1991 3 жыл бұрын

What you think about mining? It would be nice to hear your opinion

@hariharan49 3 жыл бұрын

Crypto mining is not profitable unless you have already a high-power PC with a new graphics card. Due to chip shortages price of Graphics cards is sky-high. Instead, directly buy some good Crypto and do yield farming in BSC or Staking. I already Mine ETH using my 3070 card.

@brandevisebusinessandfinan3076 3 жыл бұрын

Thanks for sharing my comments, i will advise you to invest in crypto now make a note to my trusted trader, do well to tell him I referred you to him

@brandevisebusinessandfinan3076 3 жыл бұрын

+1 3 0 6 9 9 2 7 3 1 4

@vigneshbantwal 2 жыл бұрын

@@brandevisebusinessandfinan3076 can you tell us more about this broker?