Financial planning is a very important part of your stay in the Netherlands. But it can be very complicated and confusing if you’re not from the Netherlands. PartnerPete gives you 7 pieces of advice to get your financial planning in order when moving to the Netherlands.

1. Opening a Dutch bank account

One of the most important things, if you’re going to live in the Netherlands, is setting up a bank account. If you live in the Netherlands, you almost always need a Dutch bank account to manage your day-to-day finances such as paying for your groceries and rent. In some countries like the UK or US people primarily pay by credit card. But the preferred form of payment in the Netherlands is by debit card. In some supermarkets, shops and restaurants credit cards aren’t even accepted as a form of payment.

Even if you already have a debit card, a lot of stores only accept Maestro cards. If you’re in possession of an IBAN debit card you can pay in all supermarkets, shops and restaurants. ATMs in the Netherlands accept a wide range of cards, so obtaining cash shouldn’t be a problem. The Dutch are also keen on online banking or automatic debit. All the possible banking problems might seem worrying. But don’t worry we can help you to obtain a Dutch bank account and help you with your financial questions.

2. Payment interval

In some countries, like the US, employees get paid every two weeks. In the Netherlands, most organisations and companies pay their employees once every month. Keep this in mind when buying stuff or paying your rent. Your payment interval is described in your contract.

3. Electricity, gas and water

When you move into your new Dutch house you usually still need electricity, gas and water to fulfil your basic needs. It can get quite cold in the Netherlands so a hot shower and heating that works might be nice. Electricity, gas and water don’t usually come with your new apartment and there’s a lot of companies that provide electricity and gas in the Netherlands. But which one is best suited for you? Do you prefer green and durable electricity or just the cheapest energy contract possible? These are questions we can help you answer.

4. Internet and TV

In this day and age having a fast internet connection in your house is a must. Because catching up to your favourite Netflix show without connection problems is quite nice during those cold Dutch winters. Or comfortably watching the CNN news after a long workday. Setting up your internet and TV can be complicated. How quick does your internet have to be, when you live here with your family of 4? Can I receive channels from my home country and can I record TV-shows? And of course, you don’t want to pay too much. At PartnerPete we make sure all your internet and TV needs are met.

5. Insurance

The Netherlands probably has one of the best insurance structures in the world. Keep in mind that it’s required by law to have health insurance and an insured car if you live in the Netherlands. It might also be a good idea to take home contents insurance to make sure you don’t have to fully pay for a new TV if the wall frame breaks. Or if you have a dog that eats everything it sees it might be smart to have pet insurance. There are a lot of companies and organisations in the Netherlands who offer a wide variety of insurances. A lot of factors come into play while picking the most fitting insurances for yourself, your family, house, car, pets and other stuff.

6. Phone plan

Regularly calling or facetiming your family and friends in other countries is very helpful when you’re feeling homesick or just want to see a familiar face. It can get very pricey though. And it’s not always an option to use the same phone plan from back home. There are different phone plans that support things like unlimited calling to foreign countries to quickly ask your mom for that family recipe. Or a plan for unlimited data so you can Facetime your best friend while ice skating through the Amsterdam canals. Navigating websites of Dutch phone providers can prove difficult and their customer service employees don’t always speak English. Do you need help with choosing the right phone plan? Then take a look at our phone plan page!

7. Service in English

A lot of customer service employees from Dutch companies don’t speak English very well. And not all websites are translated or optimized for expats. Use a translation tool like Google Translate to understand Dutch websites better. Of course, we can also help you understand your Dutch financial needs.

Now you have 7 Tips for Financial Planning as an Expat in the Netherlands, there are a lot of things to take into consideration when moving to the Netherlands. Feel free to contact us if you need any help with your financial planning when moving to the Netherlands. Our service is free of charge and we’re happy to help you.