From an interview with Jaspreet Kaur, Banking Advisor, RBC Newcomer Meeting Place.Jaspreet Kaur came to Canada at the age of 19. She knew very little about Canada or how things worked, and had no work experience. She struggled at times, but set out to prove herself. One of the biggest [...]
As a newcomer, applying for a Social Insurance Number (SIN) should be one of the top priorities on your to-do list when you arrive in Canada. Whether you’re a temporary or permanent resident, you’ll need a SIN to work in Canada and access government benefits and services. Newcomers are [...]
As a newcomer couple to Canada, you’ll make many important decisions together as you settle into your new life. While it’s not always easy to agree on every issue, one area of particular importance is how you manage your finances together. This is especially key in your initial years in [...]
When you move to a new country as a permanent resident (PR) or an international student, having access to your savings is not only essential but also critical. Starting (or restarting) your life in a new place is intertwined with your financial journey, making it important to understand the [...]
Many newcomers are surprised by how important credit is in Canada’s financial system. Unlike countries where people generally only take credit when needed and being in debt is often considered bad, the Canadian economy is credit-driven and credit is used even for regular everyday purchases. In [...]
Financial goal-setting is an important step in your journey as a newcomer. As you start to plan for the future, investments can be a good way to put your savings to work and grow your wealth. The money you invest can grow significantly over time and provide you with long-term [...]
From an interview with Kudzai Baloyi, Cards advisor, RBC. In his home city of Harare, Zimbabwe, Kudzai Baloyi was the marketing director for the country’s largest pharmaceutical firm. From that vantage point, Kudzai had a clear view of the opportunities and limitations in Zimbabwe for him and his family. He [...]
As you settle into your new life as a newcomer in Canada, your continued financial security should be a top priority. Many newcomers postpone retirement planning, focusing instead on their immediate financial needs. However, government plans like the Registered Retirement Savings Plan (RRSP) offer tax benefits on contributions so you [...]
As a newcomer, familiarizing yourself with Canadian work culture can give you an advantage from the very start of your job search. If you’re looking for your first job in Canada, employers are more likely to hire you if you demonstrate alignment with the local work culture. Once you start [...]
Newcomers play a huge role in Canada’s continued economic success. In fact, Canada relies on immigration programs to attract foreign talent and bridge gaps in the local labour market. Over the last few years, the government has introduced several new immigration programs, including Provincial Nominee Programs and the Rural [...]
Before you start your first job in Canada as a newcomer, it’s important to keep in mind that the salary you negotiate is not what you get in your bank account at the end of each pay period. Your employer is required to make certain deductions from your gross income, [...]
For many newcomer parents, the primary motivation behind moving to Canada is to ensure greater opportunities and a better life for their children. Children who are born in Canada or raised here from an early age find it easy to embrace Canadian culture and adapt to their new life. However, [...]