Canadian immigration has been found to directly impact the health of the import and export industry. Read on to learn more about how newcomers boost Canada’s economy.
Are the children of immigrants financially savvier than those born in Canada? Pracheer Saran explores the phenomenon of greater financial literacy among newcomers – and what everyone can learn from frugal living practices.
When pro poster Pracheer arrived in Canada, he found his banking options to be limited due to his lack of Canadian credit history. However, BMO took a chance on him – and made a loyal customer for life. However, while BMO offered great service, Pracheer took notice of great rates from other lenders… and wasn’t afraid to make the switch.
If you’re new to Canada, your economic challenges can extend beyond getting a mortgage or credit card. Learning the ins and outs of Canada’s financial system – and how to thrive in it – can take time. Many of the big banks have financial literacy programs for newcomers that include perks such as initial free banking. Also be sure to check out programs at the community level for assistance in setting up a small business, and more.