April 17, 2024

Taylor Daily Press

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What will change for your finances in April?

What will change for your finances in April?

Just like in recent months, some things will change in April which could have an impact on your finances. As always, we'll shed some light on the major changes.

High minimum wage

The minimum wage will increase by 35.7 euros to 2,029.88 euros on April 1. This increase was agreed upon during the professional negotiations for the period 2021-2022.

  • According to the Christian trade union ACV, employees will net a little extra, namely 50 euros. This is because the tax work bonus is also increased.
  • On April 1, 2026, the minimum wage will increase by another 35.7 euros.
  • According to Labor Minister Pierre-Yves Dermany (PS), the minimum wage has increased net by around €400 since October 2020, including automatic wage indicators.

The spindle pointer may have been exceeded

The inflation report from Belgian statistics agency Statbel shows that consumer prices rose by 3.18 percent in March. Economists and the Federal Planning Office expect the central index to be exceeded in April. If that happens, unemployment benefits and government wages will rise in subsequent months.

  • Social benefits will then be adjusted for 2% inflation in May 2024 and government employee salaries in June 2024.
  • When wages are indexed in the private sector depends on which joint committee you belong to.

More clarity on the cost of charging an electric vehicle

The European regulation – the Alternative Fuels Infrastructure Regulation – will come into force on April 13. This legislation, among other things, ensures that electric vehicle owners have more clarity on the cost of charging in a public column.

  • This way, they will be able to know the cost before they start the charging process.
  • In addition, there will be more customized payment options. For example, it will also be possible to pay using Bancontact.
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Low interest on CKV term accounts

The European Central Bank is expected to cut interest rates later this year. Some banks are not waiting for this decision and are already reducing interest on some savings products. For example, on April 8, CKV will reduce returns from some time deposit accounts.

  • Interest on the 3-year account drops from 2.75 to 2.65 percent total.
  • Interest rates on 5-, 7-, 8- and 10-year accounts will fall from 3.05 to 2.75 percent of their total.

The KBC Plus account becomes more expensive

Main bank KBC is raising the price of the so-called Plus account from 3.25 to 3.75 euros per month.

  • Thanks to this current account package, you can withdraw unlimited funds from any banking device. With many other (free) formats, you have to pay to withdraw cash from a competing bank's ATM.
  • Since 2021, KBC has raised the cost of the bill. It's free for teens up to 24 years old.
  • Also this: On July 1, KBC's basic account, which remains free today, will become feeable. It will then cost 2 euros per month.

More flexible jobs

In Flanders, flexible jobs are becoming possible in some additional sectors. This includes the following sectors: childcare, education, sports and general culture.

  • Other sectors, such as agriculture and horticulture, are excluded.

Do you want to stay up to date with everything happening in the financial world? Niels Silence, a journalist with a passion for finance, follows everything closely. during this link You can subscribe to his daily newsletter.

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