If you have become unemployed, contact us. You can seek an instalment-free period for your housing loan or other loans, allowing you to use the money otherwise spent on principal repayment. This way you will only have to deal with the interest of the loan and, for example, the maintenance fee for your home.

Even though you may have money put aside, we recommend that you utilise the instalment-free period before spending the savings that you have accumulated with your hard work. The savings may still grow, which means that they should remain untouched as long as possible.

In addition, you may be entitled to an earnings-related daily allowance, which, together with the instalment-free period, guarantees a reasonable income level. In case of extended unemployment and the end of earnings-related daily allowance, you can then start using the savings you have accumulated to maintain your income level.

Immediately notify Kela and the unemployment fund or trade union about the unemployment to ensure that you will get your earnings-related daily allowance as soon as possible.

Notify Kela: kela.fi

With decreased income, also your tax rate decreases. Revise your tax rate according to your new income and inform Kela of the new, lower tax rate or give them your tax card without delay.

Calculate a new tax rate for yourself: www.vero.fi

There are always two sides to economy: in addition to your income, make sure to keep your expenses in check. So be cautious when you are adjusting your new life to your new income. As an unemployed person or as a student, you may also be entitled to discounts on various services and fees. Remember to make use of these according to your situation.

There are many useful tools for planning and monitoring your finances, such as the budget calculator and income–expenses view, which follows you everywhere in the Mobile Banking application. Subscribe to an alert message for your phone if your account balance falls below a specific amount, and have your invoices delivered directly as e-invoices. Schedule the most important expenses to be debited on the desired day from your account. If you are struggling with invoices, contact us and we will be happy to help you. Together, we can sort it out.

During your working life, it is increasingly important to maintain your mental capacity so that you continuously remain useful to the employment market. It is advisable to prepare for career changes and development of professional skills in advance by saving and retraining. Although society will support you in these changes, your personal savings will provide you with greater flexibility to take action even in surprising situations the way you want.

We recommend that you save 10% of your income starting from the beginning of your working life. This way, you will accumulate a nest egg that you can, when necessary, spend when changing jobs, while preparing for retirement. A long time period will support you when you choose an investment where your savings can grow.