Financial Planning
Building a Strong Financial Foundation
Adjusting to a new life often comes with important financial decisions, and we’re here to guide you through them with care and clarity. Our Financial Planning resources are designed to help you understand budgeting, saving, banking, and managing expenses so you can feel more confident about your future. With the right tools and knowledge, you’ll be better prepared to achieve stability and work towards your long-term goals.
Key Areas of Financial Guidance
We provide a streamlined approach to help you access the support you need most. Our assistance focuses on guiding you through the critical areas of personal finance.
- Banking & Credit: We provide guidance on opening your first bank account, understanding different account types, and taking the crucial first steps to build your credit history in Canada.
- Budgeting & Savings: We connect you with resources that can help you create a realistic budget, understand the cost of living, and develop a savings plan for your goals.
- Taxes & Government Benefits: We provide information on the Canadian tax system, how to file your first tax return, and how to access government benefits and credits you may be eligible for.
- Avoiding Scams: We offer vital tips and resources to help you identify and avoid common financial scams that often target newcomers, ensuring your money is safe.
Secure Your Future
Plan your financial future with expert advice and step-by-step money management
Our Support
Essential Resources to Get You Started
Managing money in a new country can feel overwhelming. These trusted resources will help you get started with banking, budgeting, taxes, credit, savings, and more.
1. Banking Basics & Newcomer Banking Programs
- Opening a Bank Account — Financial Consumer Agency of Canada (FCAC) — How to open an account, ID requirements, and tips for newcomers.
- Account Comparison Tool — FCAC — Compare monthly fees, transactions, and features across Canadian accounts.
Major Bank Newcomer Programs
- Scotiabank StartRight
- BMO Newcomer Banking
- RBC Newcomer Advantage
- TD New to Canada
- CIBC Newcomer Offers
2. Budgeting & Financial Literacy
- Interactive Budget Planner — FCAC — Create a personalized budget and receive tailored tips.
- Financial Literacy for Newcomers — Prosper Canada — Free guides and training resources for individuals and settlement agencies.
- Newcomer Money Guides — Credit Canada — Printable tips for budgeting, banking, and credit management.
3. Taxes, Benefits & Filing Your First Return
- Newcomers to Canada — Canada Revenue Agency (CRA) — Residency rules, registering for benefits, and filing your first return.
- Completing Your Tax Return (Newcomers) — CRA — Step-by-step instructions for your first tax year.
4. Credit Building & Debt Help
- How to Build Credit in Canada — Equifax — Steps to establish your credit history.
- Tips to Build Credit — TransUnion — Guidance on payment history, accounts, and monitoring your credit.
- Credit Counselling — Credit Canada — Free, nonprofit debt and credit counselling services.
5. Savings, Investments & Retirement
- First Home Savings Account (FHSA) — CRA — Save tax-free for your first home.
- Tax-Free Savings Account (TFSA) — CRA — Flexible, tax-free savings for any purpose.
- RRSPs & Retirement Savings — CRA — Overview of retirement savings plans.
6. Finding a Certified Financial Planner
FP Canada Planner Directory — Search and verify Certified Financial Planners (CFP®) and Qualified Associate Financial Planners (QAFP®).
7. Remittances & Sending Money Overseas
Sending Money Abroad — FCAC Guide — Compare fees, transfer times, and safety tips.
8. Mortgages & Home-Buying for Newcomers
- CMHC Newcomer Mortgage Program — Mortgage options for newcomers with limited credit history.
- Buying a Home in Canada — IRCC Guide — Steps to purchase a home, financing, and insurance.
9. Fraud Prevention & Scam Reporting
- Canadian Anti-Fraud Centre — Report scams, learn warning signs, and protect yourself.
- CRA — Protect Your Accounts & Report Tax Scams — CRA’s scam prevention and reporting hub.
Why Choose us
We understand that choosing the right support system is crucial for your success. The Newcomers Success Network is dedicated to providing personalized, comprehensive support to help you thrive in Canada. We are more than just a service; we are your partners in this journey, committed to empowering you with the knowledge and resources needed to build a bright future.
- Empowerment Through Resources
- Strong Community Network
- Personalized Guidance
- Seamless Transition Support
- Expert Knowledge
- Ethical and Transparent Services
- Community-First Approach
- Clear and Simple Processes
- Continuous Learning Programs
- Your Partner in Success
Ready to Start Your Journey? Let’s Make It Easier, Together
Starting fresh in a new place can be challenging, but you don’t have to navigate it by yourself. Whether it’s settling into your community, accessing key services, or finding the right support, we’re here to make the transition smoother and more meaningful.
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