Budget Calculator
A personal budget is the single most important tool for managing your finances. This calculator helps you compare your net income against your major monthly expenses to see whether you have a surplus or deficit. If the remaining amount is positive, you have money available for savings or extra spending. If it is negative, you are spending more than you earn.
Building a Budget in Denmark
With Danish tax rates among the highest in Europe, your net income after tax (netto) is what matters for budgeting. The average Danish net salary is around 25,000-35,000 kr per month. Housing, food, and transport are typically the three largest expense categories. Loan payments and insurance also take a significant share. The goal is to have at least 10-20% of your net income left for savings.
What to Do with Your Surplus
If you have money left over, consider building an emergency fund of 3-6 months of expenses first. Then look into pension contributions, investments, or paying down debt faster. If you have a deficit, start by reviewing your largest expenses and see where you can cut back. Even small reductions across multiple categories can make a big difference.