11 Sep 2024
Recent statistics reported that around 60,000 Filipinos officially live in Germany because of its strong economy. Many Filipino expats in Germany need help handling their finances. Moving to a new country is undoubtedly exciting but comes with multiple challenges. First of all, living in Germany requires learning their national language, German, one of the world's most challenging languages.
Also, it becomes challenging to stay within your budget as you have to manage your expenses and send money to Philippines from Germany. In this guide, you will learn some fantastic and practical tips about cutting down your monthly payments to send a handsome amount back to your home country without facing a dilemma.
Whether you are new to Germany or have been living there for years, following these strategies can help you not only send enough money to your family but also enjoy your life in Germany.
First things first, keep in mind your monthly earnings after the deduction of all taxes. Then check how much money you need to survive in Germany, i.e., housing, transport, groceries, and other basic needs. Also, track the amount you need to send back to your family from your earnings. You can make a realistic budget list using any budgeting app or Excel sheet by specifying all your needs. In this way, you can notice the expenses that can be cut down.
One of the major expenses of being an expat in Germany is the rent of your living place. To ensure you send money online to Philippines from Germany back home regularly, you should stay in economic areas rather than city-center flats. Moreover, try to find shared accommodation to divide the rent.
The public transportation system is well-developed in Germany. Owning a car or hiring a taxi is very expensive there. You have to pay heavy taxes on your vehicles. Also, a huge salary is used for fuel and maintenance expenses. So, for a cost-effective solution, you should use public transport for intercity and intracity travel.
Savings in Household Utilities
To manage your expenses effectively, try to save as much as possible on groceries and other household utilities. There are some discounted markets in Germany, like Penny, LIDL, Netto, etc. You can go there to shop at economical rates. You can also avail of weekly discount offers. Also, you should use PayBack cards. These cards can make you earn loyalty points, and after collecting enough points, you can get discounts on various items. Farmer’s markets allow you to buy organic products at reasonable prices.
Make an organized list of items that you want to buy so that you don’t spend money on unnecessary expenses. Refrain from impulse purchases. Before buying anything, consider whether the respective item is a necessity or a luxury.
You must sell the things you don’t need anymore to make your living space cleaner and to earn some extra money.
It is crucial to connect to your family back in the Philippines, and this connection can be made via calls or emails. Opt for free communication apps like WhatsApp or Viber for calling or messaging, as international calls are costly over mobile networks. These apps are free of charge. They only need WiFi to run. Avail the benefit of free Wi-Fi available in public places like cafes and libraries to stay in touch with your loved ones without paying any charges.
Everyone needs a little escape from his routine life once in a while. Germany offers many ways of budget-friendly outings. You can explore beautiful parks, visit museums, or check out historical sites. Some cultural events and festivals are mostly free of charge. In addition, home cooking is the best option to save money, as ready-made food is very expensive there.
In Germany, choosing the right bank is crucial to avoid extra charges. Compare different banks and their account options, and choose the one with minimal or no monthly fees. Online banks are also worth considering, as they usually offer convenient digital banking features with zero cost.
When you want to make a money transfer from Germany to Philippines, it is essential to assess different money transfer platforms. Comparing money transfer services based on exchange rates and fees can save much of your earnings. Go for a platform that offers secure, fast, and reliable money transfer services with minimum costs and maximum exchange rates.
Consider using the ACE Money Transfer App for your remittance needs. This app offers high exchange rates, low fees, and fast transfer. These specialties make it a reliable choice to send money back home without extra charges
Ways to Transfer Money at ACE
ACE mobile app covers all the following money transfer options:
Unlock Financial Success for Filipino Expats in Germany and Effortless Transfers with ACE
This app also features partnerships with several central banks in more than 128 countries to ensure convenient access to funds. Do you want to make the most of your earnings in Germany as a Filipino expat? Follow these practical tips to manage your budget efficiently. Also, if you are in search of a reliable remittance service provider platform, ACE Money Transfer is the best option. Download the ACE mobile app now and make an online money transfer from Germany to Philippines in just a few clicks.
Use energy-efficient appliances. Turn off lights when not in use, and manage heating wisely.
ACE Money Transfer App is reliable for sending money from Germany to the Philippines. It offers competitive exchange rates, low fees, and fast transfers.
If you can’t afford it, the second-hand furniture market is the best option for buying quality furniture at low prices. You can also check local thrift stores and flea markets for cheaper second-hand furniture.
Yes, health insurance is mandatory in Germany for everyone, including expats. Both public and private health insurance options are available.
The amount an average expat can save in Germany depends on various factors. Most expats save around 10% to 15% of their monthly income.
