Articles and resources to help plan your finances and prepare for life in Canada.
Globally, Canada is rated very high for having an excellent quality of life, a well-developed public education system, and access to healthcare. In 2020, Canada was ranked second as the best country (overall) in the world by the U.S. News., dominating the rankings with high scores in the quality [...]
Newcomers often dream of buying a home in Canada someday. Property purchase requires a large financial commitment and the willingness to take on the responsibilities of a homeowner. In Mortgages 101: How to finance your first home in Canada, we outlined the details of financing your first home. In [...]
As a newcomer, your financial needs will be different from those of established Canadian residents who’ve lived here longer. For this reason, some of Canada’s largest banks, such as RBC, offer newcomer-specific products that are designed with the financial requirements of newcomers in mind. During your first year [...]
When newcomers move to Canada, it usually takes them a few months to settle in and figure out the local way of life. Many are unaware of standard government processes or authentic ways of sharing their banking or personal information with organizations, making them easy targets for various frauds [...]
One of the most common reasons newcomers from various parts of the world choose to move to Canada is to ensure a better future for their children. As a result, for newcomers moving to Canada with families, saving for your kids’ education is often a top financial priority. [...]
As a newcomer, you may want to begin investing and saving for your future shortly after moving to Canada. You might be in a position to set aside a portion of your income every month or have savings that you brought from home. Opening a Tax-Free Savings Account (TFSA) [...]
As a newcomer, integrating into your new financial environment in Canada will be crucial for your long-term success. Often, this means learning about new financial products, how to use them, and incorporating certain best practices into the way you manage money. Canada is a credit-based economy, and people [...]
You may have plans to buy your own home in Canada after initially renting accommodation for a few years. Although homeownership is the ultimate goal for many newcomers, the ever-increasing cost of purchasing property in Canada has made many of the country’s newer residents defer their dream of buying [...]
As a newcomer to Canada, it’s important you’re aware of Canadian taxation rules to file your tax returns accurately and take advantage of benefits and credits you’re entitled to. The Government of Canada introduced several new tax measures and modified some existing guidelines which you should know about for [...]
Pursuing a university or college education in Canada can open many career doors, but unfortunately tuition usually doesn’t come cheap. Tuition fees alone can cost tens of thousands of dollars per year, depending on your school and program of choice. In addition, international students in Canada spend anywhere between [...]
As you settle down in Canada, you may need a loan or mortgage to achieve some of your financial goals, such as buying a car or house or pursuing higher education. When you get a loan or mortgage, you tend to base your repayment schedule and terms on your affordability [...]
Watch the Webinar Duration: 1 Hour As a newcomer to Canada, you can set the foundation for a secure financial future by learning how banking and finances work in your new home. You’ll need to understand the types of financial institutions and bank accounts in Canada and choose [...]