How to achieve your savings goals

Did you know that the savings rate in Germany is 11.1%? That means that Private households set aside around 280 euros per month on average. The savings rate indicates what percentage of disposable income is not spent but saved. For comparison, in Italy it is just 0.3%, which corresponds to approximately 6 euros per month. Saving is not only possible in Germany – it is also firmly anchored in everyday life here.

A savings goal is a personal plan for which you are saving money – for example a trip, a major purchase or a financial cushion. If you regularly transfer a fixed amount to a separate savings account, you will get closer to your goal step by step.

Before you get started, get an overview of your income and expenses:

• Fixed costs: Rent, electricity, insurance, food, etc.
• Wishes & lifestyle: Shopping, restaurant visits, subscriptions, etc.

This will help you see where you can save money – and where you might be spending money unnecessarily.

Tip: The BBVA App supports you with an automatic spending analysis that categorizes your spending and shows you where you can save.

First, think about what financial goals you want to achieve. According to a recent Statista survey, the top savings motives among Germans are:

• Pension plan: 61% of respondents
• Homeownership / renovation
• Consumer purposes: e.g. Travel, purchases
• Investment
• Emergency fund / reserve

Source

Determine when you want to achieve the respective savings goal, how often you want to save – monthly, weekly or flexibly – and how high the amount should be.

Important to keep mind: Don’t just save what’s left at the end of the month, but set rules such as:

• Set aside a fixed amount every month
• Round up purchases and save the difference

Depending on income and expenditure structure, a realistic monthly savings amount is often 20% of net income. This orientation comes from the 50/30/20 rule, a proven model for budget planning:

• 50% for fixed costs such as rent, electricity and insurance
• 30% for recreation and personal wishes
• 20% for savings goals and reserves

Even with just 300 to 600 euros per month, you can achieve larger goals in the medium term without restricting your everyday life. It's important that you know your fixed costs and save regularly – even small amounts make a big difference in the long run.

BBVA's digital Savings Box makes saving especially easy – ideal for those who want to remain flexible while still achieving their goals.

• Savings Box: A digital area for your savings, integrated directly into your BBVA current account. You don't need an additional savings account, a new IBAN, or separate login credentials. You simply use your usual online banking or the App, and you can easily deposit money in your Savings Box or move it back to your current account at any time.
• Savings goals: Set up to five individual goals and name them as you wish, e.g. “Vacation in Sri Lanka” or “iPhone 17.” This makes your savings plan tangible and motivating.
• Saving rules: Use automatic features like rounding up purchases or setting aside a fixed percentage of your income. This way you can achieve your goals effortlessly, without even noticing.

With these tools, saving becomes easy, flexible, and transparent – and you get a little closer to your goals every month.

Saving is not a sacrifice, but a path to greater financial freedom. With clear goals, a realistic plan and the right tools, “I should save” quickly becomes “I've achieved my goal.”