It is important to have an insurance policy that protects you and your possessions. In Sweden 95% of all households have home insurance. A home insurance policy is a fundamental means of protection which can pay you compensation if your possessions are stolen or damaged by fire or water. A home insurance policy also covers anyone who is named in the policy and lives in the same home. All home insurance policies also include travel insurance.
An accident insurance policy can pay you compensation if you become injured in an accident. Accident insurance is often added to a home insurance policy, or can be a separate insurance policy taken out by private individuals.
The money you earn has to cover all your costs. It is often a good idea to make a simple budget. Begin by collecting all the information about your expenses and income during one month, and then use this information as a basis for planning the following month. Sometimes you can lower your costs by choosing cheaper alternatives, and on other occasions you can save money by choosing a higher-quality alternative which will last longer.
Contact a bank to open a bank account and get a bank card. On the Internet you can see how much money you have in your bank account and pay bills.
If you have children, you are entitled to apply for housing allowance. You must live and be registered in the population register in Sweden to get a housing allowance. How much housing allowance you get depends on how many people there are in your family. It also depends on how high your rent is and how much money you earn. It is Försäkringskassan (the Swedish Social Insurance Agency) that decides whether you get housing allowance.
It is important that you pay your bills on time. If you delay in paying your bills and debts, you will receive letters reminding you to pay. If you still don't pay your bill, it will be sent to a debt collection company. This means you may get a record of non-payment attached to your name. If you don't pay your bill at this stage, the matter will be passed on to the Enforcement Authority.
A record of non-payment of debt is a sign that you have not managed you payments properly in the past, and may mean that you have difficulties getting a bank loan, renting a flat, getting a job or even a telephone subscription in the future.
If you do not have any money
Income support is also called social assistance or financial assistance. It is help for a person who does not have any money. If a person who applies for income support is able to work, they must look for work at the same time. They must also take part in other activities arranged by the social services.
If you do not take part in activities arranged by the social services, you can have your application refused and not get any money. Generally you are not entitled to money from the social services if you have money in the bank or own something expensive, a car for instance.
Contact your municipality for more information about income support.