Ah, money! You never have enough of, it and everyone always wants what you have.
Meanwhile, we’re throwing 2022 out the window and rushing into 2023 at turbo-speed. With the new year comes new (likely to be failed) resolutions — and seven new changes that will impact your bottom line.
If you’re wondering what the changes are and what they mean for you and your precious geldje (money), then we’ve got something to help: a guide to the changes to your wallet in 2023. 💸
1. The minimum wage jumps up
Good news, minimum wage earners: from January 1, the government will implement an additional statutory minimum wage increase of 10.15%.
READ MORE | 9 major changes coming to the Netherlands in 2023
The minimum hourly wages for employees will increase to:
- €12.40 for employees working 36 hours
- €11.75 for employees working 38 hours
- €11.16 for employees working 40 hours
As such, the monthly wage is predicted to be €1,934.40 for adults over the age of 21. Not earning minimum wage? Sounds like you should be fighting for a 10% raise. 😉
2. Rising energy prices will be capped (somewhat)
Households and small businesses will be given a price cap on gas, power, and heating costs from January 1, 2023 — hoera! 🎉
Yes, those paying energy bills — rejoice! The price cap means that any energy consumption below a certain price will be discounted by the government.
READ MORE | All you need to know about the Dutch energy subsidy and price cap
The price ceilings for 2023 apply to:
- 1200m³ of gas at €1.45 per m³
- 2900kWh of electricity at €0.40 per kWh
- 37GJ of heat at €47.38 per GJ
Of course, don’t go too wild and install a hot tub — anything over those price ceilings will be charged at your energy provider’s standard rates.
3. First-bracket taxes fall, and tax credits rise
Taxation for the first bracket (with annual earnings from €0 to €35,472) sees a small drop from 37.07% to 36.93%. Alright, it’s not much — but a win is a win, right? 🏆
Meanwhile, tax credits (a reduction in the income tax that you owe the government) will rise from €2,888 in 2022 to €3,070 in 2023.
4. The child budget, child benefits, and the price of childcare all increase
The amount of money that parents and guardians receive as child benefits (kinderbijslag) is also rising. The figures, paid per quarter, for 2023 are:
- €269.76 for children up to the age of 5
- €327.56 for children aged 6 to 11
- €385.37 for children aged 12 to 17
The hourly price of childcare is also on the rise, with the current rates for 2023 set at:
- €9.06 for daycare
- €7.79 for after-school care
- €6.80 for a childminder
The Dutch child budget (kindgebondenbudget) for children who have special needs is also set to increase in 2023, with the maximum amount parents receive for a first and second child increasing by €356 per year.
The maximum amount for a third child is increasing by €468, whilst the amount for single parents is also increasing by €356.
READ MORE | The ultimate guide to applying for child benefits in the Netherlands
If it’s still all double Dutch to you, the government has a handy child budget calculator to help you calculate how much money you may be entitled to. Let op (take note): you may need to brush up on your Nederlands, as it’s all in Dutch. 🇳🇱
4. Applications for STAP budgets put on pause
Keen to upskill? The STAP budget is money you can receive from the government (up to €1000 per year!) to put towards formal training. Nice right?
Just one problem: the application period for the next round of STAP subsidies in January 2023 is being skipped, as the government announced that it requires time to implement measures against abuse.
READ MORE | Applications postponed for STAP budget to tighten rules
This means that the STAP budget will be divided over five periods in 2023 instead of six, though the budget itself will remain unchanged.
The next application period will open on February 28, 2023.
5. Health insurance is going up, up, up
Health insurance is one of those necessary evils in the Netherlands and is kinda ridiculously expensive. Every year, the price of the basic health insurance package increases — and 2023 is no exception.
READ MORE | This is how much more you’ll pay for health insurance next year
Meanwhile, if your workplace offers health insurance at a discount, you may see an even more significant cost increase. The “collectivity discount” that allowed workplaces to offer this is being phased out from January 1.
READ MORE | Dutch health insurance in 2023: what’s new and how to switch
6. Basic scholarships make a grand return
Basic scholarships (basisbeurs) used to be money given by the government to people who are studying — however, they’ve been put on hold for years.
These were ultra handy because, while it was technically a loan from DUO, the entire amount was forgiven if you graduated within 10 years of commencing your degree. Free money! 🤑
Loving the idea? You’ll love this more: DUO recently announced that the basisbeurs will likely be reintroduced for the 2023/2024 school year.
The amounts proposed are:
- €110.30 for students living at home
- €274.90 for students with their own accommodation
These grants are expected to come into effect in September 2023, if both chambers agree on the decision.
7. Low-income households get an energy allowance
An energy allowance of €1,300 will be gifted to low-income households in 2023. If you’re jumping up and down saying, “Pick me!” you’ll need to take that energy to your local municipality, where you can apply for the allowance.
What do you think of the latest changes planned for 2023? Tell us all about it in the comments below!