You want to move to Germany, but you are worried about the financial aspect of the move. Unsurprisingly, moving to a new country is not cheap. Based on the route you are taking, this can cost anywhere from $4,000 to $20,000. Two cheaper options as outlined in the Pathways to Germany page are vocational training programs and the freelance visa. Neither of these options require a blocked account. Additionally, you can attend university without a blocked account if you get a scholarship or are able to have your parents show proof of funds and a willingness to support you financially. Other options may require a blocked account which can be difficult to save up or get a loan for. Even with these cheaper options, there are several expenses that you will have to pay for.
Plane ticket
First months accommodation
Deposit for permanent accommodation
Furnishing your new living space
Public transit
Food & Toiletries
Health insurance
Phone service
While these costs will be different for everyone, grab some paper and a calculator and go through this guide to find your rough estimate of costs.
Start with your residence permit costs. If you will need a blocked account, write down that amount and it's equivalent in US dollars. The fee for processing most residence permit applications is around $100, so write that down too.
Go on an incognito browser and use Google Flights to check flight costs. Find a date a couple of months in advance, and add $100 buffer in case prices increase or you need to add an additional checked bag. Depending where exactly you are flying from and where you are going, a one way ticket can be as little as $300 when booked in advance.
Budget $1100 per month for your temporary accommodation if you are planning to live in a smaller city as recommended. If not, check AirB&B prices for the area you want to move to. It was possible for me to find my own apartment within a month, but it may not be possible for everyone, especially in larger cities. If you decide it is best for you to move directly into a WG (not reccomended), look up common prices for that in the area you want to live in, multiply it by 4 for Kaution (deposit) and first months rent, then write it down.
For permanent housing, the cost will also differ based on whether you would like a shared apartment or a personal apartment. Look at the prices for what type of apartment you would like near where you are wanting to live. Find the typical price for an apartment in this area. Write down the Warmmiete (warm rent, includes some utilities) and add €100 to this number as a buffer. Kaution (deposit) in Germany can be anywhere from 1-3 times the monthly rent. To be safe, add €100 to the Warmmiete and multiply the number you get by 4 for Kaution and first months rent.
Furnishing your new living space will differ based on if you get a shared or personal apartment. You can furnish your apartment slowly as you get more money either from your blocked account or a job, but you will need some basics. If you are getting your own apartment, you will need a bed, a way to cook, and a way to keep food cold at minimum. Budget at least $500, however the more you have the more comfortable you will be. Add another $150 for setting up utilities. If you plan on renting a shared apartment, the kitchen and common areas typically come furnished but you will have to furnish your own room. Budget $250 for this.
Unlimited public transport costs €63 per month, or around $75 USD.
If you stick to the basics, you can expect to spend around $150 per month per person on food and toiletries. Multiply this by 3 months giving you time to find a job if your visa type does not require a job.
Health insurance costs differ based on the type of visa type you have. Typically around $150 per month.
You can expect to spend less than $20 per month on phone service.
Once you have all of these costs written down, you can add them together to get your estimated cost for moving to Germany. If you go the cheap route (booking your plane ticket in advance, freelance or vocational training visa, moving directly into a WG, smaller city) you are looking at a cost estimate of around $4,000. However, if you are taking one of the more expensive options, this amount can quickly go as high as $20,000.
Now that you have an estimate of your expected costs, you can start strategizing how to finance it. For this section I am assuming you are not rich and you have a job. Saving for an international move happens in 3 parts.
Saving money
Making money
Taking out a loan if absolutely necessary.
Saving money:
If you are serious about moving to Germany, you need to start saving money. If you do not already have a budget made for yourself, now is the time to make one. You can use an online tool, or do it by hand by writing down your monthly income and using your bank statements to subtract your necessary expenses. Once you know how much you have left over each month, see what you can cut out of your budget. This would be anything that you do not require for living such as subscriptions, online purchases, or going out to eat. Calculate how much you will have left over at the end of each month after cutting these items out.
Making money:
To help speed up the process of saving for Germany, you can find opportunities to make extra money. This can look like getting a second job, doing freelance work, selling art, or selling plasma. Any extra amount you can make monthly will help you be able to move quicker. Another way you can make money is by selling the items you will not take with you when you move to Germany. The amount you make from this will differ based on how many things you have. If you plan on selling your car, you can factor this cost in as well. Try to look around at what you have and give yourself a realistic estimate of how much you can make from selling it.
Once you have both of these numbers, take your personal cost estimate for moving to Germany, subtract any savings you have and the amount you expect to make from selling unwanted items. Divide the number you end up with by the amount of money you will have left over each month. This number is how many months you will have to continue saving to afford your move to Germany.
For example:
You have calculate that it will cost you $5000 to move to Germany. You have $2000 in savings.
$5000-$2000=$3000
You have an old car and some items you believe that you could sell for around $2000 total.
$3000-$2000=$1000
By going over your budget, you realize that you can realistically save around $300 per month.
$1000/$300= 3.33 months
This means that you could save up enough to move to Germany in less than 4 months.
Taking out a loan:
If the amount you need to save is unrealistic (for example if you need a blocked account), or if you are feeling extremely concerned about your safety in the US, you can look into taking out a personal loan. For this, you will typically need a good credit score and a stable income. If you take out a loan, you will also have to consider the process of paying it back.