The holidays have come and gone, and now we face three long months of Great Canadian Winter. But that doesn’t mean our housing market has undergone a deep freeze; brokers and lenders continue to introduce rates so hot they rival peak-season summer pricing. Read on for the full story, along with the week’s top headlines.
Surviving on minimum wage is never easy, and is a stark reality for many newcomers to Canada. Pracheer Saran shares how he managed to make ends meet – and even save – all while working for $11 an hour.
It’s a season of change for finances as new mortgage and credit card rules come into play. Here’s what you need to know, along with the week’s top headlines.
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.
Finding the right daycare is like solving the Rubik’s cube: it’s a challenge to find a combination of reliability, safety, convenience and affordability. It’s a struggle MoneyWise writer Pracheer understands all too well, as he and his wife search for a daycare for their three-month-old son. Read on for his tips on accessing government funding for daycare costs.
Establishing a credit and banking history in Canada used to be very challenging for newcomers to the country. However, Canada’s big banks have recognized the opportunity presented by newcomers to create life-long customers – and a new slew of marketing campaigns now target immigrants looking to work, save and invest.
Did you know: Canadians identify their “main bank” as the one where they keep their chequing account. 91% of consumers have one at their primary lender, according to our recent study. But things get foggier when it comes to why they signed up with their bank in the first place – in a recent street poll, many stated they’d been with their banks since childhood. Seems like it’s high time we explored our options for greater value!
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.
Preparing financially for retirement and education can be a challenge for any Canadian – but time is especially of the essence for older immigrants who have not benefited long term from Canada’s RRSP and RESP programs. Pro poster Pracheer Sarah shares the steps some newcomers take to overcome these hurdles.