How to Financially Plan Your Move to Canada

LIVING
How to Financially Plan Your Move to Canada

Deciding to make Canada your new home is a wonderful choice! It’s crucial to prepare your finances before your plane even takes off. Here’s a guide to help you plan effectively:

Before Your Move

1. Organize Your Paperwork: Gather all your financial records and ensure they are accessible. Simplify your banking by consolidating accounts, and have documentation ready for investments or properties.

2. Understand the Canadian Banking System: Research local banks and consider opening an account before you arrive.

3. Show Proof of Funds: Some immigration programs require proof of funds. Ensure these are in your name and readily available. A letter from your bank can serve as proof.

4. Bring Money with You: Have a mix of cash, traveler’s cheques, bank drafts, and a major credit card. Declare any amount over $10,000 to the border officer upon arrival.

5. Consider the Costs:

   🏘️ Housing: Research rental or buying costs in your new community. If renting, be prepared for a security deposit.

   💲 Cost of Living: Account for utilities, groceries, transportation, and other living expenses.

   💰 Additional Expenses: International students may need private health insurance before provincial coverage kicks in.

Once You Arrive

Meet with a Financial Advisor: Schedule an appointment with a representative to discuss your banking options and create a personalized financial plan.

Start Banking and Prepare for Taxes: Open a savings and chequing account. Save for an emergency fund and get a rewards credit card. Understand your tax obligations and consider consulting an accountant.

Build Credit: Your credit history doesn’t transfer from your home country, so start building it by using a credit card responsibly and making timely payments.

By following these steps, you’ll set yourself up for financial success in Canada.

CANADA EH?
Things To Do Around You:

Join the YMCA Newcomer Information Centre on Saturday, June 22, for an unforgettable Multiculturalism Day celebration at the Taggart Family Y in Ottawa. The exhibit opens at 11:00 AM. 👉 Register here 👈

Join the Museum of Surrey in Vancouver on Sunday, June 16th, for Father's Day Stay & Play. Enjoy oversized board games, a scavenger hunt.

Catch the Sam Roberts Band live at the Wildhorse Saloon in Calgary on Thursday, July 4th. Enjoy an unforgettable night of rock music with one of Canada's favorite bands!

Toronto is hosting the beloved Taste of Little Italy returning from June 14th to 16th. Enjoy three days of delicious food, live music, and shopping on College Street, Toronto.

Celebrate the 44th Festival International de Jazz de Montréal with nearly 1,000 concerts by global musicians on indoor and outdoor stages. Events from June 27th into July.

Enjoy the Summer Showcase at Pigeon Lake Music Festival Grounds on June 29 -30th with music, food vendors, family-friendly activities, and unbeatable happy hour specials.

SPONSOR OF THE WEEK

Explore your path to success in Canada with True North coaching and career newsletter! Discover valuable insights, career tips, and heartwarming stories for newcomers. Join our supportive community and subscribe below for success at your fingertips!! Your journey to a fulfilling career starts here.

TRAVEL
12 Canadian Attractions You’ve Never Heard Of

Think you've seen everything Canada has to offer? Think again! These hidden gems, from natural wonders to unique accommodations, are must-adds to your travel bucket list.

The World’s Smallest Desert
Carcross Desert, Yukon

Believe it or not, Canada is home to a desert—the world’s smallest. The 540-acre Carcross Desert in Yukon boasts sand dunes formed from an ancient glacial lake. These dunes stretch to the picturesque shores of Bennett Lake, perfect for a sunny beach day.

An Underground Slide Ride
Horne Lake Caves, British Columbia

Vancouver Island hosts over 1,400 caves, and Horne Lake Caves offer an exhilarating subterranean adventure. Spelunk through the darkness and experience Canada’s only underground slide and a waterfall rappel.

Medieval Glamping
Good Knights Medieval Encampment, Alberta

Step into medieval times at the Good Knights Medieval Encampment in the Canadian Badlands. Stay in lavish tents with queen beds, wooden floors, and ensuite bathrooms. Enjoy royal treatment with in-tent breakfasts, archery lessons, and medieval feasts.

A Bird’s-Eye View of Icebergs
Iceberg Nest, Quirpon Island, Newfoundland

See Newfoundland’s icebergs from a unique perspective at the Iceberg Nest. This glass box offers panoramic views of icebergs, whales, and dolphins as they pass beneath you in Iceberg Alley.

These attractions showcase Canada’s diverse and lesser-known wonders, perfect for your next adventure.

FOOD FOR THOUGHT
Canada’s Best Breweries and Pubs

Canada is home to some of the world's most remarkable breweries and pubs, each offering unique experiences and exceptional brews. Here's a look at some of the best places to raise a glass across the country.

33 Acres Brewing Company - Vancouver
After a day of exploring Vancouver’s bustling food scene and natural wonders, unwind at 33 Acres Brewing Company in the vibrant Mount Pleasant neighborhood. This brewery is known for its minimalist design and exceptional beer.

Stubborn Goat Gastropub & Beer Garden - Halifax
Halifax’s Stubborn Goat Gastropub offers gourmet food and craft beer with stunning views of the Halifax Harbour. The waterfront beer garden location is a local favorite, providing a perfect spot to enjoy local craft brews while soaking in the historic charm of Halifax.

Picaroons - Fredericton
In Fredericton, known as Atlantic Canada's Craft Brewing Capital, Picaroons Brewing Company has been crafting English-style ales for over 25 years using traditional open-air fermentation. Highlights include the organic Dooryard summer ale and maple cream ale. 

Granite Brewery - Toronto
Family-owned Granite Brewery has been a Toronto favorite for over 30 years, offering English-style ales and a cozy atmosphere. Enjoy one of their 15 seasonal and rotating drafts on either of their two patios for a quintessential big-city craft beer experience.

Quidi Vidi Brewery - St. John’s
No visit to St. John’s is complete without a stop at Quidi Vidi Brewery in the picturesque fishing village of Quidi Vidi. Known for their unique iceberg beer made from icebergs off the Newfoundland coast.

NEWCOMER SPOTLIGHT
Meet ItsMeADee!

Meet our featured newcomer Angelo, who moved to Canada in 2020 and now calls Edmonton, Alberta home. As a dedicated content creator, they explore Canadian culture and lifestyle with a unique blend of humor and relatability. Their engaging videos and posts resonate deeply with newcomers and fellow immigrants, highlighting the shared experience and journey of moving abroad. 

By adding a light-hearted touch to the challenges and adventures of adapting to a new country, they provide comfort and connection to those feeling the pangs of loneliness. Their content is a home for anyone looking to feel more at home in Canada. Follow Angelo on Instagram and TikTok.

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