E Point Perfect

Earning, saving and spending money in Canada: A guide for new immigrants


Getting started

To get started, here’s an overview of what you need to know about moving to Canada, working in Canada and building a good credit history. 

The more you know about Canadian money, savings and housing, the better prepared you’ll be. You can even do certain steps—such as opening a bank account—before you arrive. Learn about this and other personal finance topics, including key details about preparing to buy a home in anywhere in Canada.

Finding a job and earning an income soon after arriving in Canada can contribute to your success. We explain who can legally work here, how to apply for a work permit, how to find credible job postings and what details to look for in a job offer. We also tell you about non-profit organizations that help immigrants find work, sign up for free English classes and more.

Once you move to Canada, it’s important to start building a good credit history—it will have a big impact on your future here. If you plan to borrow money to buy a home or a car, for example, lenders will look at your credit report to decide if they’ll loan you money and how much interest to charge you. Employers, landlords and even cellphone companies may check your credit report. We explain how to build your credit history and how to improve your credit score.

We’ve rounded up 15 more MoneySense articles that provide personal finance tips for different life stages—from your first steps in Canada to getting established to planning for retirement.

1. Just moved to Canada

Starting life in a new country includes learning how its banking and financial systems work. Learn about credit cards and credit ratings, what the Bank of Canada’s benchmark interest rate is, and the steps you need to take to become a home owner.

Read more about banking, credit cards and real estate.


Source link

Related posts

6 things you didn’t know could be hurting your credit rating

Making sense of the markets this week: September 18

Rising rates are good news for near-retirees seeking longevity insurance

Can you gift a farm to your kids to avoid taxes?

Will you make money on your rental property?

Tennis star Vasek Pospisil on seizing investment opportunities and living without regrets