Europe Calculator Glossary
Simple explanations of key terms used in salary, tax, rent, VAT, budget and cost-of-living calculators. Each term links to related calculators and tools.
All terms
20 terms defined
Gross Salary
Your salary before taxes and deductions are removed.
Read definitionNet Salary
Your salary after all taxes and deductions are removed — the amount you actually receive.
Read definitionIncome Tax
A tax paid on earned income, deducted from your salary or paid on profit.
Read definitionSocial Security
Compulsory contributions paid by employees and employers to fund public welfare programmes.
Read definitionPension Contribution
Money set aside from your salary into a pension fund for retirement.
Read definitionHealth Insurance Contribution
A deduction from salary that funds health or medical cover.
Read definitionEmployer Contribution
Extra costs paid by an employer on top of gross salary — not deducted from your pay.
Read definitionVAT
Value Added Tax — a consumption tax added to goods and services.
Read definitionNet from Gross
Converting a gross salary figure to the estimated take-home net amount.
Read definitionRent-to-Income Ratio
The percentage of monthly income spent on rent.
Read definitionEmergency Fund
Savings set aside to cover essential costs during unexpected events.
Read definitionSavings Runway
How many months your savings would last if income stopped.
Read definitionDebt-to-Income Ratio
The percentage of monthly income used to pay debts.
Read definitionMortgage Affordability
How much mortgage you can safely repay based on income and existing debts.
Read definitionUtility Bills
Monthly costs for electricity, heating, water, internet and related home services.
Read definitionMove-in Cost
Total upfront cost when moving into a new rental apartment.
Read definitionSecurity Deposit
Money paid to a landlord at move-in, refundable if the property is left in good condition.
Read definitionMonthly Budget
A plan showing income, all monthly expenses and money left.
Read definitionSavings Rate
The percentage of income that goes into savings each month.
Read definitionCost of Living
The total monthly amount needed to maintain a given lifestyle in a location.
Read definition