Your February budget: How to save money in Sweden this month
From maximising your pension to the food that's in season, here's The Local's guide to making your Swedish kronor last through the month of February.
Pensions
Over the next few weeks, orange envelopes will be sent out to people across Sweden with important information about your pension. The good news is that if you’re living and working here, you’ll almost certainly be earning towards a pension, and you’ll be able to get that money even if you move elsewhere.
Exactly how much money goes into your pension pot depends on many factors, including your salary, length of time working in Sweden, your company’s policy, and your own personal decisions (especially if you’re self-employed).
Those who spend only a few years working in Sweden will earn a much smaller pension than people who work here for their whole lives, but that money could still come in useful once you retire so it’s important to know what you’ll be entitled to – and how to potentially maximise the kronor you'll get post-retirement.
Here's an essential guide which explains how pensions work in Sweden.
Vabba
It's that time of the year when children catch colds and you need to keep them home from preschool. Swedish law offers parents 80 percent of their wage up to a maximum limit if they have to stay home from work to look after their ill child, a concept known as VAB or as a verb, vabba. Swedish preschools are strict about not accepting children even when they have the slightest of sniffles, so it could mean that you end up sitting at home with an almost perfectly healthy child.
We would usually recommend leaning into Sweden's work-life balance when you can and just take that time off work (good bosses won't think the worse of you for it). However, the loss of wages could make a dent in your finances when times are tough, so there are a few tricks to make sure you don't lose too much money.
- Vobba – a portmanteau of vabba and jobba, the Swedish word for work. Instead of claiming VAB, if you have a flexible employer and your childcare situation allows, you could work from home with your child. Or you could claim, say, half a day of VAB and work for the rest of the day. That being said, if it's the other way around and your employer urges you to vobba instead of vabba, treat it as a red flag. You always have the right to skip work to look after a sick child.
- If you apply online for VAB before the 10th of the month, and fill out the form correctly, you'll get the money by the 25th.
- In the short term, yes, it usually makes sense for the parent on the lowest income to stay home from work, but keep in mind that your VAB days affect your salary and ultimately your pension, so if you're two parents it may be a better idea in the long run to split the days between you.
- If you're living close to, say, your Swedish in-laws, perhaps a grandparent could look after the child instead? They can claim VAB, too. And it doesn't have to be a family member – if you need a friend to look after the child, they can also claim VAB benefits.
Electricity handouts
Sweden's government is offering two energy subsidies this spring, one which will only be for users in southern Sweden, and one which will be offered to all Swedish residents.
The first subsidy (there aren’t yet a lot of details on the second one) will be available for energy users in zones 3 and 4 (most of southern Sweden), who had their own energy contract on November 17th, 2022. Read more here about Sweden’s energy zones.
If you have BankID and a Swedish bank account, you should register your bank account directly with Swedbank by February 13th to receive whatever money you're eligible for on February 20th. If you can’t register with Swedbank, it will take longer to get the payout.
Here’s a guide to how to register and what to do if you can’t register your account.
Buy seasonal food
Seasonal produce is usually cheaper, tastier and better for the environment.
As we wrote in our January money-saving guide, Swedish-grown fruit and vegetables this time of the year include, according to the Swedish Environmental Protection Agency: Brussels sprouts, green kale, artichokes, swedes, onion, carrots, parsnips, potatoes, celeriac, red beets, red cabbage, white cabbage and apples.
Aubergine, cauliflower, broccoli, fennel, red pepper, spinach, Swiss chard, orange, lemon and kiwi are in season in other parts of Europe in February.
Comments
See Also
Pensions
Over the next few weeks, orange envelopes will be sent out to people across Sweden with important information about your pension. The good news is that if you’re living and working here, you’ll almost certainly be earning towards a pension, and you’ll be able to get that money even if you move elsewhere.
Exactly how much money goes into your pension pot depends on many factors, including your salary, length of time working in Sweden, your company’s policy, and your own personal decisions (especially if you’re self-employed).
Those who spend only a few years working in Sweden will earn a much smaller pension than people who work here for their whole lives, but that money could still come in useful once you retire so it’s important to know what you’ll be entitled to – and how to potentially maximise the kronor you'll get post-retirement.
Here's an essential guide which explains how pensions work in Sweden.
Vabba
It's that time of the year when children catch colds and you need to keep them home from preschool. Swedish law offers parents 80 percent of their wage up to a maximum limit if they have to stay home from work to look after their ill child, a concept known as VAB or as a verb, vabba. Swedish preschools are strict about not accepting children even when they have the slightest of sniffles, so it could mean that you end up sitting at home with an almost perfectly healthy child.
We would usually recommend leaning into Sweden's work-life balance when you can and just take that time off work (good bosses won't think the worse of you for it). However, the loss of wages could make a dent in your finances when times are tough, so there are a few tricks to make sure you don't lose too much money.
- Vobba – a portmanteau of vabba and jobba, the Swedish word for work. Instead of claiming VAB, if you have a flexible employer and your childcare situation allows, you could work from home with your child. Or you could claim, say, half a day of VAB and work for the rest of the day. That being said, if it's the other way around and your employer urges you to vobba instead of vabba, treat it as a red flag. You always have the right to skip work to look after a sick child.
- If you apply online for VAB before the 10th of the month, and fill out the form correctly, you'll get the money by the 25th.
- In the short term, yes, it usually makes sense for the parent on the lowest income to stay home from work, but keep in mind that your VAB days affect your salary and ultimately your pension, so if you're two parents it may be a better idea in the long run to split the days between you.
- If you're living close to, say, your Swedish in-laws, perhaps a grandparent could look after the child instead? They can claim VAB, too. And it doesn't have to be a family member – if you need a friend to look after the child, they can also claim VAB benefits.
Electricity handouts
Sweden's government is offering two energy subsidies this spring, one which will only be for users in southern Sweden, and one which will be offered to all Swedish residents.
The first subsidy (there aren’t yet a lot of details on the second one) will be available for energy users in zones 3 and 4 (most of southern Sweden), who had their own energy contract on November 17th, 2022. Read more here about Sweden’s energy zones.
If you have BankID and a Swedish bank account, you should register your bank account directly with Swedbank by February 13th to receive whatever money you're eligible for on February 20th. If you can’t register with Swedbank, it will take longer to get the payout.
Here’s a guide to how to register and what to do if you can’t register your account.
Buy seasonal food
Seasonal produce is usually cheaper, tastier and better for the environment.
As we wrote in our January money-saving guide, Swedish-grown fruit and vegetables this time of the year include, according to the Swedish Environmental Protection Agency: Brussels sprouts, green kale, artichokes, swedes, onion, carrots, parsnips, potatoes, celeriac, red beets, red cabbage, white cabbage and apples.
Aubergine, cauliflower, broccoli, fennel, red pepper, spinach, Swiss chard, orange, lemon and kiwi are in season in other parts of Europe in February.
Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.
Please log in here to leave a comment.