Top 6 WORST Money Mistakes in Denmark
ฝัง
- เผยแพร่เมื่อ 2 ก.ค. 2024
- The average expat in Denmark loses between 1.000 to 5.000 kr a month because of bad financial decisions.
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TIMESTAMPS
00:00 - Not Having Insurance
03:34 - Pay Too Much For Housing
05:12 - Not Investing
07:17 - Investing Wrongly
08:20 - Getting a Car
10:23 - Buying A Lot of Stuff in Denmark - แนวปฏิบัติและการใช้ชีวิต
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I'm moving to denmark with my gf in roughly 4 months. your videos are very clear and useful. Thanks for your work
Indbo may also cover travel insurance
another top tip: buy second hand in charity shops.. start there, and se if the have what you need.
11:23 should be legal from other countries in the common market, will perhaps not save as much but still a lot and be less of a hassle.
Amen to #5! 🚴🏻♂
You should watch out with A-Kasse as some of them have a requirement that you are able to start working in Denmark as a condition for paying out. Which, if you're from outside of EU, you technically don't have. So check the rules so you don't end up paying for insurance that you can't use.
Yes agree 100% - check the rules and calculate for yourself if it’s worth it. (In my a-kasse video I go through many of the rules).
Thank God except buying a car i dont fall in another category 🥳but it is a second had car and leasing was costly.
Solid!
top tip: find a job in the country side, and live close to the job. most places need all kinds of skilled labour. and we have cheap housing and lower cost of living.
I've heard a few people be a bit scared/skeptical of interest-only loans. What's your take on the risk/reward there ? What's your plan for once you have to start paying?
I made a video about it: th-cam.com/video/1xp0jigTNos/w-d-xo.html -- I'm saving that "repayment money" instead of spending it all so will see in 5 years what I'll do
Mario, when purchasing a house with a mortgage, do you think it's better to take a fixed interest rate loan or a variable one? I've been checking the loan calculators of a few danish banks and, by the end of the loan, you would pay twice as much if you pick a fixed rate. Which one did you choose for yourself?
It depends on how long is your time-frame -- if you're buying long-term (6-7+ years) it will be good to fix the rate (or part of it). I went with 60% F5 and 40% F30 back in 2017.
With the increased interest rates - the difference between fixed interest rate and F-KORT on a 4 million apartment for 30 years is around 2 million DKK extra in interest and bank charges. My bank suggests me go for F-kort (0.00% interest) when the fixed has gone up to (3%). Historically F-kort has never gone to high but what is your opinion on this?
Thanks Mario! I will suggest also don't come to Denmark if you own a a flat or an house outside. You still have to pay Denmark taxation
Thanks for the tip! But if the property is not too valuable I don’t think this will be a big deal though - better align with an accountant
@@MarioScianHQ can you suggest one?
Not moving to Denmark for this exact reason is a bit extreme tbh. If your foreign flat/house is rented out, ok you'll pay income tax on the rents but you're still in a positive balance while keeping an appreciating asset (the flat/house). But if your plan is not to rent it out and use it as a secondary house, then yes it would be hell of a liability with property tax and maintenance cost. 😓
I don't know any accountant, there's a Facebook Group called Spørg en revisor, you can check there
True many things are cheaper in other countries, but when buying something in Denmark you are legally protected against faulty products for 2 years.
Some companies, like apple, have their own protection/insurance (as an extra cost) that covers worldwide, but if that’s not the case then I would think twice before buying anything expensive elsewhere because that can end up being a very expensive mistake.
Yep, the 2 year protection is great and I talked about it in some of my other videos
The suburbs + car vs. no car in the city argument I don't agree with.
If you rent, you can get a place to live 20-30 minute drive from a major city with a rent that's 3-4000 less and possibly more.
Buy a smaller car with average km/l for 24000 that has a lifespan of let's say 4 years.
That's 500 a month for the lifespan of the car.
Then you might pay 1400-1500 in gas pr month (if you drive 50km pr day on average), 300-400 for insurance and 100 for vægtafgift a month. (Let's be real, with a car that cheap you don't need kasko or any added insurance to pump the price, just ansvarsforsikring)
Then add a few hundred more for small repairs and unseen expences you're still 2000 or more in the green (not counting the cost of the car), but even then you're still in the green.
Yeah the math you share makes sense, though that assumes that someone would like to live that far and drive a cheap car as well, which are two ifs
Inbo insurance is needed when you have children, because the school will ask if rhe kids are on field trip. So yes you need it.
Didn't know good tip!
Hov can you earn to taxes and investments in Denmark?
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Hello pls am Thomas how can i talk to you?
Just leave comments
Hello pls i wont to move from ireland to Danmark
@@MarioScianHQ pls how can I move from ireland to Danmark?
@@MarioScianHQ can you help me for house am UE menber