besparen

English translation: to put in money the wrong way

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:(Verträge) falsch besparen
English translation:to put in money the wrong way
Entered by: Steffen Walter

13:45 Mar 22, 2007
German to English translations [PRO]
Bus/Financial - Insurance / Pensions
German term or phrase: besparen
This is from an article on Riester pensions.

Die Konsequenz: dem Kuden wereden zuweilen unangemessene Vertragskonstruktionen angeboten, die Vertraege falsch besparet und die staatlichen Foerdermittel verschenkt.

Could you suggest ideas for '...die Vertraege falsch bespart'.

Thanks

Simon
PoveyTrans (X)
Local time: 14:13
to put in money the wrong way
Explanation:
"besparen" is also used in Austrian German. Most commonly used with so called "Bausparverträgen" or "Pensionsvorsorgeverträgen".
You put in a certain amount of money every year or month and up to defined limit you get an extra reward from the government for doing so.
Lets say if you put in 1000 EUR / year you get additional 1.5% from the government.
So, if you want to invest 2000 EUR it is not wise to put the whole amount in in 2007 and nothing in 2008 because you will get those 1.5% only up to 1000.
It's better to put in 1000 this year and 1000 next year so can get a total of 3%.
If you don't do so, you have your contract "falsch bespart".
Selected response from:

Sonja Moser
Local time: 15:13
Grading comment
Wonderschoen! Thanks for all your Bemuehungen.

Simon
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +1to put in money the wrong way
Sonja Moser


Discussion entries: 1





  

Answers


1 hr   confidence: Answerer confidence 5/5 peer agreement (net): +1
to put in money the wrong way


Explanation:
"besparen" is also used in Austrian German. Most commonly used with so called "Bausparverträgen" or "Pensionsvorsorgeverträgen".
You put in a certain amount of money every year or month and up to defined limit you get an extra reward from the government for doing so.
Lets say if you put in 1000 EUR / year you get additional 1.5% from the government.
So, if you want to invest 2000 EUR it is not wise to put the whole amount in in 2007 and nothing in 2008 because you will get those 1.5% only up to 1000.
It's better to put in 1000 this year and 1000 next year so can get a total of 3%.
If you don't do so, you have your contract "falsch bespart".


    Reference: http://www.wuestenrot.at/cms/de/produkte/vorsorgen_versicher...
Sonja Moser
Local time: 15:13
Works in field
Native speaker of: Native in GermanGerman
PRO pts in category: 4
Grading comment
Wonderschoen! Thanks for all your Bemuehungen.

Simon

Peer comments on this answer (and responses from the answerer)
agree  Kcda: Excellent answer!
2 hrs
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