Heidelberg – Interest rates have been on the decline for years. At least in the interest on savings, a real turnaround is currently not apparent. Therefore, do not let too much money simmer at puny interest rates on the current or overnight money account. But how much money belongs to which account?

Picture: Young couple calculates costs 

First, all incoming payments land on the checking account – from the monthly salary to the tax refund. Credit interest rates are hard to get here. Therefore too much money should not remain here.

Current account should not slip into the downside

Just plan for so much buffer that you do not immediately break an unscheduled charge. Because that can be the banks pay dearly. If at the end of an ordinary month, with normal incoming and outgoing payments, there are around $ 1,000 left, you are in very good shape.

Another savings tip: If your bank charges for the current account, you should think about a change. The account change works quickly and conveniently – especially if the new bank offers a digital exchange service.

To the advisor: Account change – easier change thanks to account change service

Even though more and more banks have recently introduced new fees for their checking account, they still exist – the all-around free offers. When making a selection, do not just make sure that the new bank does not charge any account maintenance fees. The giro and the credit card should not cost anything. As a small treat some banks even reward the change with a new customer bonus, which is credited to the new account.

Simple rule of thumb for the call money account

Your “iron reserve,” which you need to keep running smoothly at all times – for example, in the event that costly repairs to house or car pending. As a rule of thumb: Three net monthly salaries are the perfect investment for the daily allowance.

Again, it is worth the comparison provider. Especially many branch banks pay no more interest on the daily allowance. In the worst case, even negative interest rates threaten. For the best overnight money offers customers currently receive at least 0.6 percent interest (as of March 2018). With an investment amount of 10,000 euros makes the interest income of 60 euros a year. You should not miss it without any trouble.

Deposit no longer than two years

Slightly higher interest rates You can not dispose of your money during the term. Basically, the longer the term, the better the interest rate. Nevertheless, you should not invest your savings for more than two years in the current low-interest phase. Otherwise, you may miss the rally once interest rates rise again.

To the advisor: interest rate development and interest rate forecast for savings and loan interest

The best 2-year fixed-term offers at least almost offset inflation. So you avoid at least a significant loss in value of your savings. As a form of investment, time deposits are particularly suitable for money reserves that you will need again in the medium term – for example, for a new car or a complex house renovation. With current top offers (March 2018) you can look forward to interest income of 260 euros after 2 years (investment amount: 10,000 euros).

For a deposit comparison

Achieve higher returns in the long term

Anyone looking for returns well above the inflation rate can invest part of their assets in investment funds. As a base product for small investors especially cheap index funds (ETF) are well suited. Important here is a long-term investment strategy of at least ten years. You can then simply sit out short-term price losses.

To the guide: funds as investment – how to find the optimal funds

An analysis of the Deutsches Aktieninstitut shows that savings in equities are not an incalculable risk: Anyone who has bought the mix of the defaults of the German stock index DAX and has held for at least 15 years has never been in the black in terms of sales.

Nevertheless, you should never put everything on a map when investing. A solid portfolio always consists of at least two components – one for the return and one equipped with safe investments. Find out more in our guide: