Starting from scratch
Millions of immigrants come to Canada and quickly discover that getting established financially isn’t easy
Advertisement
Millions of immigrants come to Canada and quickly discover that getting established financially isn’t easy
This article was updated on June 27, 2017.
Last year, Canada welcomed more than half a million newcomers to our country as immigrants, international students and temporary foreign workers. In the last five years, most of the new permanent residents came from Asia and the Middle East, although a large proportion of new immigrants also came from Africa, the Caribbean, as well as Central and South America.
Canada may be the best country in the world to live in, but that doesn’t mean that it’s easy to get established. People come to Canada dreaming of obtaining greater financial security and opportunities for themselves and their families, but they often spend years struggling to build up credit, find a decent job and grow their wealth.
As Canada’s personal finance magazine, MoneySense wants to help newcomers get established as quickly and painlessly as possible. In the article that follows, we provide a quick overview of the most important things you need to know in order to build a strong financial future in Canada. We’ll tell you the essential things to do during your first days in the country, and show you how to get a head start on getting a job, building credit, taking care of your family, buying a home and investing. Along the way, you’ll meet people who have been through the immigration process already, who share their tips for making the transition easier.
Even if you’re a long-time citizen, if you’re new to investing, or buying insurance, or you’re trying to establish a strong credit history for the first time, this report is for you. When it comes to our finances, we’re all beginners at one time or another, and every beginner can use a helping hand.
Getting started
MoneySense offers tips on what newcomers should do when they first arrive to Canada
What to do during your first few weeks in Canada:
THE COMPLETE GUIDE FOR NEW CANADIANS:
1. Overview
2. Get job experience
3. Build a credit score fast
4. Property buying tips
5. Pay less tax
6. Invest wisely
7. Insurance to buy
8. Finding childcare
9. Avoid scams
10. Free resources
11. Getting started checklist
Share this article Share on Facebook Share on Twitter Share on Linkedin Share on Reddit Share on Email