Empower Yourself to Make Confident Financial Decisions
Freezing winters. Tim Hortons coffee. Love affair with hockey. These are a few of the unique things about Canada that you may have noticed as a newcomer to this country. Add to that: a complicated financial system.
As you begin to call Canada home, you’re busy trying to figure out important decisions including getting a good job, deciding where to live, finding the right schools for your kids and buying a car. One of your other priorities is establishing your finances.
Empowering yourself with the right knowledge is key to making good decisions, whether you are deciding to buy a new or used car, or to rent or buy a home. Education helps you acquire the tools and information you need to be more comfortable in Canada, make your transition smoother and more successful.
There is a lot to learn with the Canadian financial system including chequing and savings accounts, credit cards, income taxes, credit score, insurance, investments, among many other topics. To help you, I’m offering three important points of advice regarding money:
1. Reduce bank fees! Our banks are well-known for charging fees to “take care” of your money. For example, did you know that if you withdraw money from a bank machine not associated with your bank, you could be charged $2 to $5? Ask for the detailed fee schedule for your account as this information is not always easily available.
2. Build a strong credit score. Any time you apply for a mortgage, personal loan or even a cell phone, your credit score plays an important role. Essentially, it tells lenders how likely you are to pay them. As a new Canadian, it’s important to learn a variety of ways to build up your credit score to increase the likelihood of being approved for a loan and getting a good interest rate.
3. Ask questions, understand options and take your time. This one is more like three pieces of advice bundled in to one. Whether you are trying to apply for a credit card or purchase insurance, always ask a lot of questions. There are no silly questions. If a representative is not being helpful, ask to speak the manager. Always understand your options and never make a decision on-the-spot despite aggressive sales tactics that you may encounter. Take your time to “sleep on it,” especially with major decisions.
Remember: No one cares about your money as much as you do!
We provide newcomers with a wealth of knowledge on important financial topics through our seminars and private consultations. Should you have any urgent questions concerning your finances, we offer a free 15-minute telephone consultation. We would be glad to help you!
All the best,
Neil
Prepared for Luis Araque, Progreso Hispano
June 2010
Freezing winters. Tim Hortons coffee. Love affair with hockey. These are a few of the unique things about Canada that you may have noticed as a newcomer to this country. Add to that: a complicated financial system.
As you begin to call Canada home, you’re busy trying to figure out important decisions including getting a good job, deciding where to live, finding the right schools for your kids and buying a car. One of your other priorities is establishing your finances.
Empowering yourself with the right knowledge is key to making good decisions, whether you are deciding to buy a new or used car, or to rent or buy a home. Education helps you acquire the tools and information you need to be more comfortable in Canada, make your transition smoother and more successful.
There is a lot to learn with the Canadian financial system including chequing and savings accounts, credit cards, income taxes, credit score, insurance, investments, among many other topics. To help you, I’m offering three important points of advice regarding money:
1. Reduce bank fees! Our banks are well-known for charging fees to “take care” of your money. For example, did you know that if you withdraw money from a bank machine not associated with your bank, you could be charged $2 to $5? Ask for the detailed fee schedule for your account as this information is not always easily available.
2. Build a strong credit score. Any time you apply for a mortgage, personal loan or even a cell phone, your credit score plays an important role. Essentially, it tells lenders how likely you are to pay them. As a new Canadian, it’s important to learn a variety of ways to build up your credit score to increase the likelihood of being approved for a loan and getting a good interest rate.
3. Ask questions, understand options and take your time. This one is more like three pieces of advice bundled in to one. Whether you are trying to apply for a credit card or purchase insurance, always ask a lot of questions. There are no silly questions. If a representative is not being helpful, ask to speak the manager. Always understand your options and never make a decision on-the-spot despite aggressive sales tactics that you may encounter. Take your time to “sleep on it,” especially with major decisions.
Remember: No one cares about your money as much as you do!
We provide newcomers with a wealth of knowledge on important financial topics through our seminars and private consultations. Should you have any urgent questions concerning your finances, we offer a free 15-minute telephone consultation. We would be glad to help you!
All the best,
Neil
Prepared for Luis Araque, Progreso Hispano
June 2010
Biography
Neil Jain is President & Lead Facilitator of Money Life Skills. He provides private financial consultations and has led seminars on “Financial Survival,” “Top Ten Money Tips for Job Seekers” for new Canadians and educated international students on optimizing their tax returns.
Following recent management roles in Customer Experience, he is especially committed to fostering positive customer interactions. Neil is an Engineering graduate of the University of Toronto, fluent in French and an active volunteer.
About Money Life Skills
Money Life Skills aims to empower people to make confident financial decisions. We offer unbiased financial education seminars and private consultations for key life decisions including getting established in Canada, rent vs. buy, marriage, children’s education, self-employment, optimizing investments and minimizing taxes.
Contact information
Phone: (647) 727-7121
E-mail: info@moneylifeskills.com
Web: www.moneylifeskills.com
Following recent management roles in Customer Experience, he is especially committed to fostering positive customer interactions. Neil is an Engineering graduate of the University of Toronto, fluent in French and an active volunteer.
About Money Life Skills
Money Life Skills aims to empower people to make confident financial decisions. We offer unbiased financial education seminars and private consultations for key life decisions including getting established in Canada, rent vs. buy, marriage, children’s education, self-employment, optimizing investments and minimizing taxes.
Contact information
Phone: (647) 727-7121
E-mail: info@moneylifeskills.com
Web: www.moneylifeskills.com
