Personal Finance & Money Management
Learn to measure your financial position, build a working budget, protect yourself with an emergency fund and the right insurance, handle debt, and plan for retirement in Germany.
Self-study course Self-study course: written lessons, videos and downloadable materials for independent learning. There is no supervision, assessment, individual feedback or tutoring. Self-check quizzes are evaluated automatically in your browser — we do not see your results.
All 13 lessons free
Before you start
- Basic arithmetic with percentages
- Access to your own bank statements
- No prior finance knowledge needed
What you will be able to do
- Build a net worth statement and a monthly cash flow overview
- Create a budget using the 50/30/20, zero-based or envelope method
- Calculate an emergency fund target and choose where to hold it
- Convert nominal interest rates into effective annual rates and plan a debt payoff
- Compare German savings accounts and check deposit protection limits
- Estimate your retirement gap and write a one-page personal financial plan
Lessons in this course
Your financial starting point: net worth statement and monthly cash flow
Build a net worth statement and a monthly cash flow overview so you know exactly where you stand before you make any money decisions.
Budgeting methods that work: 50/30/20, zero-based and envelope budgeting
Compare three budgeting methods, apply each to a real-looking income, and choose the one that fits your situation.
The emergency fund: how big, where to keep it and when to use it
Calculate an emergency fund target for your situation, choose a safe place to hold it, and set clear rules for using and refilling it.
Debt: nominal vs effective annual interest rate, and payoff strategies (avalanche vs snowball)
Convert nominal rates into effective annual rates, calculate a loan instalment, and compare the avalanche and snowball methods for paying off several debts.
Bank savings in Germany: current account, Tagesgeld, Festgeld and deposit protection
Understand the main German account types, compare savings offers correctly, and know how statutory deposit protection works.
Insurance basics in Germany: essential, useful and usually unnecessary policies (general orientation)
Use a simple risk rule to sort insurance policies into essential, situation-dependent and usually unnecessary, and judge deductibles with a break-even calculation.
Retirement in Germany: statutory pension, company pension and private provision (three pillars)
Understand how the German statutory pension is calculated, how company and private pensions add to it, and estimate your own monthly retirement gap.
Financial goals and sinking funds: turning goals into monthly amounts
Turn vague wishes and irregular bills into specific goals with a deadline, a price and a monthly saving amount.
Credit reports and SCHUFA: what they contain and how to check yours
Understand what SCHUFA stores, how the credit score works and how to request and check your free data copy.
Income tax basics for employees in Germany: the annual tax return and deductible expenses
Get a general orientation on wage tax, the annual tax return and the most common deductions for employees in Germany.
Spending behaviour: lifestyle inflation, impulse purchases and subscriptions
Recognise the habits that quietly absorb income and use simple rules to keep spending aligned with your goals.
Starting a side income responsibly: registration, records and taxes
Get a general orientation on registering a side business in Germany, keeping records and setting money aside for tax.
Your one-page personal financial plan
Combine net worth, cash flow, safety, goals, retirement and admin into one written page you review on a fixed schedule.
Trading Foundations
Once your personal finances are in order, continue with Trading Foundations to learn how markets work and how to manage risk before you trade.
View course outline