Articles and resources to help plan your finances and prepare for life in Canada.
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 [...]
Moving to Canada to study can unlock exciting new opportunities for international students. For many, it’s also their first time living in a new country and taking responsibility for their finances. If you’ve been accepted to a Canadian designated learning institution, the next step on your agenda is to apply [...]
The Canadian economy is credit-based and financial institutions offer a wide range of credit products that people can use for different financial needs. As a newcomer, your first credit product will likely be a credit card, which gives you access to a relatively small credit limit and allows you to [...]
As a newcomer settling into a new life in Canada, your expenses can quickly add up, sometimes making it harder to save for longer term financial goals. Customer loyalty programs can be a useful tool to help you save money, stick to a budget, and enjoy perks at the places [...]
For the first few months or even a couple of years, most newcomers moving to Canada consider renting accommodation versus buying property. As an essential and high-priority task, this often turns out to be challenging as in addition to the rent deposit, landlords usually ask for an employment letter, a [...]
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 basics [...]
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 Canada, your credit history [...]
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 [...]
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 [...]
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, [...]