Financial overview brings peace of mind in everyday life. With a budget account at Grønlandsbanken, you gain control over your income and expenses, so you always know how much you can spend each month. With a budget account, your expenses are evenly distributed throughout the year. When you receive your salary, a fixed amount is automatically deducted from your salary account to the budget account. At the same time, your bills are registered for Payment Service, so they are always paid on time – without you having to lift a finger. You are always welcome to contact your advisor if you need help creating your budget.
How to create a budget
Create a budget and stop worrying about your upcoming bills. With a budget sheet, you gain peace of mind and fewer unpleasant surprises. Once you have entered all your monthly income and expenses, you can see in the top right corner of the sheet how much money you need to transfer to your budget account each month.
How to handle unexpected expenses
Unexpected expenses can hit anyone, and they often come when you least expect them. It can be anything from an expensive dental bill to a broken phone or an unusually high heating bill. If you haven't accounted for these expenses in your budget, it can feel like a financial gut punch. Therefore, it's a good idea to factor them into your financial planning.
Build some flexibility into your budget
Make sure to set aside money each month for unexpected expenses. A realistic amount depends on your finances, but the most important thing is that you save something regularly.
Create a buffer account
Create a separate account solely for unexpected expenses, so the money isn't spent on anything else. This provides clarity and makes it easier to stick to the plan.
Get a handle on your budget
Create or update your budget so you have a complete overview of your fixed and variable expenses. This makes it easier to see where you can find room for a buffer.
Think long-term
Maintenance and repairs will come sooner or later. Plan for it so you aren't caught off guard.
Use your financial flexibility wisely
If you receive excess tax, holiday pay, or any other extras, consider setting some of it aside as a financial safety net.
Peument service
Avoid the hassle - let the Payment service handle the bills.