As COVID-19 restrictions ease, international travel remains unwise for many. With holiday pay incoming, here are expert-backed alternatives to make the most of it.
Holiday pay is a statutory allowance for employees in the Netherlands and Belgium, designed to offset vacation costs. It enables affordable holidays, whether domestic or abroad.
In the Netherlands, yes—it's legally required and must appear on payslips. However, high earners (over three times minimum wage) may not qualify. Any exceptions must be clearly documented.
Typically 8% of your gross annual salary, calculated from June 1 to June 1. Full-time employees for a year receive the equivalent of about one month's pay. Note: it's taxed at a higher rate, reducing the net amount.
Most employers pay it annually around late May, just before summer. Agreements can allow flexibility, though rare. During the pandemic, some deferred it by mutual consent, but this isn't standard.
With mass travel risky, consider these financially sound options instead.
Kids are expensive—use part of your holiday pay for clothes, nursery upgrades, school supplies, or a toddler room transition. Or open a savings account for their future.
Working from home? Update furniture, kitchen, or bathroom. A fresh coat of paint works wonders on a budget. Reading tip: 15 Tips to Update Your Kitchen on a Low Budget
Create an outdoor oasis with a garden set, parasol, plants, or veggies. Add a barbecue for summer evenings—perfect for safe, socially distanced relaxation.
Enroll in a course, training, or hobby. Skill-building or leisure pursuits boost well-being, especially now.
Opt for museums, zoos, or amusement parks nearby. Book ahead for timed slots to comply with guidelines.
Treat stress with a haircut, massage, beauty treatment, or new outfit. Self-care is essential.
Prioritize repayment to cut interest costs. Even partial payments prevent rising balances.
Nibud recommends saving 10% of net income. Park your holiday pay for emergencies like appliance repairs or family needs.
What will you do with your holiday pay now that travel is limited?
