With a concrete goal in mind, such as a driver's license, vocational training, or a first apartment, saving feels easier. You work backward from the goal to find a monthly rate that fits you.
Why are you saving for your child? The question sounds trivial, but it makes saving noticeably easier. A concrete goal gives the whole thing a direction and a scale.
"Just setting something aside" often fades into nothing. Once you have a picture in mind, say the first driver's license or the first apartment, a vague intention becomes a tangible plan.
Typical goals and rough figures
To give you a sense of the numbers, here are a few rough ballparks. These are not fixed amounts, just reference points:
- Driver's license: depending on region and driving school, often around 2,500 to 3,500 euros (reference figure from ADAC).
- First apartment: deposit plus basic furnishings can quickly add up to several thousand euros.
- Vocational training or college: moving costs, living expenses, maybe a semester abroad, from a few thousand up to five figures.
- Head start at 18: a free lump sum as a cushion for the start of adult life, with no specific purpose attached.
From goal to savings rate
The rough figures help you derive your savings rate without any assumption about growth, just by dividing: if around 5,000 euros should be available in 18 years for a driver's license, that comes to just over 23 euros a month in pure contributions. With less time, the rate goes up accordingly. That way you can quickly see what is realistic.
A goal turns "I should start saving" into "I set aside X each month for Y." That is exactly the step most people skip.
Stay flexible, goals change
At age three, nobody knows whether the child will become a student, a skilled tradesperson, or a world traveler. A goal helps at the start but does not have to last forever. More important than the exact goal is that something builds up that your child can use freely later.
What goal fits your family?
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Start the Family CompassFrequently asked questions
What should I save for when saving for my child?
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What if the goal changes later?
This article is for general information and educational purposes only. It does not constitute individual advice, and no statements are made about future performance. Which path fits your family is something we work out together in a personal conversation.