Money check at 20

Your financial starter pack at 20 (Germany):

1. Your own current account ✅

• Free at a direct bank (DKB, ING, N26)
• With a debit card and banking app
• No more running things through your parents' account!

2. Liability insurance ✅

• €50–80 per YEAR – the most important insurance
• Check: are you still co-insured through your parents? (Often until the end of your training)

3. Build basic knowledge ✅

• What is an ETF? What's the difference between gross and net?
• 1 hour of Finanzfluss videos is enough to start with
• Or: SaveFoxy learning modules for 11–12-year-olds and adults

4. Know your tax ID ✅

• An 11-digit number you get at birth
• You'll find it on your parents' old tax documents, or ask the tax office

5. Install a budgeting app ✅

• Finanzguru (free) or YNAB
• 5 minutes: download the app, connect accounts, see your spending