Tank discount, Bafög, minimum wage: These changes will apply to money from August 2022

Created: 08/04/2022, 12:15 p.m

By: Andrea Stettner

Due to legal changes, many people will have more money in their accounts from August.

But elsewhere the belt has to be tightened.

While July brought more money to pensioners, employees and Hartz IV recipients in particular, students and trainees in particular benefit from the legal changes in August.

Certain sectors can also look forward to a higher minimum wage.

However, thanks to rising energy prices and the elimination of rebates, the additional income is likely to bring little financial relief.

1. Industry minimum wage increases

The general minimum wage was already increased in July.

In many sectors, however, separate agreements apply that allow for a higher minimum wage than the statutory one.

This industry-specific minimum wage is now increasing for some employees.

From August 1st, employees in the stonemasonry and sculpting trades will receive an industry minimum wage of 13.35 euros per hour, according to the

.

For comparison: the statutory minimum wage is currently 10.45 euros per hour

Thanks to some changes, many will have more money in their wallets from August 2022.

© Sven Simon/Imago

2. More Bafög for studies and training

Students, trainees and pupils can soon look forward to more money.

At least if they are entitled to student loans.

Thanks to the Bafög reform 2022, the rates will increase by almost 6 percent.

According to the Federal Ministry of Education, the maximum funding amount increases from 861 euros to 934 euros.

In addition, there are higher allowances and higher housing allowances for all those who no longer live with their parents.

3. Gas and electricity prices are rising

According to the comparison portal Check24, almost 700 basic electricity and gas suppliers have announced or already implemented price increases.

Price increases of 200 to 300 percent are expected for gas alone.

A gas surcharge will soon come to many.

Consumer advocates therefore advise putting aside enough money for the next utility bill (2023).

The rule of thumb for your energy reserves is: Take the monthly energy costs from the previous year and multiply the total by 2.5.

If financially possible, you should set aside the difference monthly as a reserve in a call money account – for example by standing order.

also read

Tax relief 2022: Since July, employees have had more net salaries – not everyone benefits

Disability pension: If you are too ill, you can retire earlier

Tax tricks: How to save money on your tax return

View photo gallery

4. End of 9 euro ticket and tank discount

The 9-euro ticket for bus and train ends on August 31st.

Since June 2022, people have been able to use local and regional transport nationwide.

Whether there will be a successor solution is still being discussed.

Refueling will also soon become more expensive again: the tank discount on diesel and petrol is only valid until the end of August.

Consumers should therefore refuel their car towards the end of August.