Do you have any questions about money as a newcomer in Canada? Ask away! 👀

I'm based in the US and I'm not even Canadian, but I must say you guys did a great job on explaining basic financial literacy to newcomers 👏🏽

@stephandden

Ай бұрын

Thank you so much! 🙏🏿🙌🏻

I wish this video was available when I immigrated. You guys are doing and awesome job... keep up the good work Steph & Den

@stephandden

Ай бұрын

Thank you so much 😊

Best Canadian Financial content creators! Thanks guys, you are the reason I started investing & having a portfolio of $40K now ❤

@stephandden

Ай бұрын

Thank you so much! + that's AMAZING, we're so happy to hear that! 🙏🏿🙌🏻

one thing that definitely does not transfer from your country of origin to the new country is the financial wisdom!! for example, in Iran you'd have to buy gold coins etc to be smart. here ETFs etc. Keep up the good work. Thanks

Could you guys do a video on the best way to save for children’s future. For school savings or just helping them get a head in life. Thanks

@stephandden

Ай бұрын

We have a video that breaks down the RESP - check that one out. 😊 But we’ll definitely add a more in depth video on children’s futures to our list.

To be honest as an international student who just moved to Canada I learned a lot from this video I didn’t know I wasn’t paying my credit cards right until i watched this video . Thanks for sharing

@stephandden

Ай бұрын

Glad it was helpful - we love to hear that! 😊

Coming next month, grateful for this video ✨🙌

@stephandden

Ай бұрын

Amazing to hear 😊 we hope that the move goes well!

I moved to Canada about 2 years ago and banking system here looks very nuanced. It looks like all digital things are just a wrapper around legacy paper banking system and banking system resists to modern changes. Cons: there is still division between debit and credit cards, people are still using insecure paper cheques, account numbers are legacy (not IBANS), transactions processing inside Canada sometimes takes hours or even days. Some places accept only debits, some - only credits, some even only cash. And when Costco accepts only MasterCards is the cherry on the top 🍰. Pros: mortgages look relatively easy, investing opportunities (TFSA, RRSP, etc) are pretty cool, private property laws are pretty well established and capital accumulation is a relatively easy thing (if not a cost of living).

Thanks for making this... I know I have suggested this topic on many of your videos and finally it's here...

@stephandden

Ай бұрын

We’re happy you suggested it! 😊

We are coming to Canada after 4 days! I saw your video about checking account and decided to go with Simplii. I have some questions. Do I have to have another account for receiving salary or simplii is fine? Can you suggest a credit card which will be the best for newcomer/ student?

You guys always have Great informational tips 🔥❤️‍🔥

@stephandden

Ай бұрын

Thank you so much! 🙏🏿🙌🏻

Great information! I wanted to know if the CPP contributions statement on My Service Canada should show Employee and Employer contributions? I currently see only employee contribution. Any way i can see employee contribution too?

@stephandden

Ай бұрын

Thank you! 😊 Is there a reason that you want to see the employer side as well? They don’t typically show both sides, but it should be the exact same amount.

@siddhantkapadia2904

Ай бұрын

@@stephandden just wanted to see the full amount that's all! Thank you so much for confirming!

Hii guysss! You both are amazing! I love your videos 😊 thank you for all you do ❤ I’m wondering if it makes sense to have a TFSA account for the initial purpose of saving up for a masters program that you plan to begin 2 years from now. What are your thoughts?

Great content guys!

@stephandden

Ай бұрын

Thank you so much! 😊

What an insightful video. Thank you for sharing My Question: with respect to credit utilisation, is it okay to spend over the 30% during your billing cycle as long as you bring the balance back down to 30 or below before your statement prints Do credit card companies report your account activities to credit bureau or just your statement balance at the end of the cycle

@stephandden

Ай бұрын

We’re glad it was helpful. 😊 And yes, you can spend over 30%, but you don’t want to carry that balance throughout the month or into the next month. It’s best practice to make multiple payments throughout your billing cycle so that you can reduce the balance that gets reported. Also, credit companies report your payments based on your billing cycle - the details of what you purchased doesn’t matter. What matters is whether you made the full payment after all of your spending. The total amount (so how much you owe) for each billing cycle is what the credit bureau cares about.

Thank you for this video

@stephandden

Ай бұрын

Of course! 😊

Thank you for this information that’s never talked about for newcomers. Grateful 🙌🏾

@stephandden

Ай бұрын

Of course! 🙏🏿🙌🏻

I love this video!!! Thank you so much for creating this.

@stephandden

Ай бұрын

Yay, we’re happy to hear that! Thank you for watching 😊

Thank you for doing this! I'm coming to canada next year

@stephandden

Ай бұрын

Of course! We hope this was helpful 😊

Great great video . Thank you 👏👏. I got a "medium" credit score knowing that I always pay back before the due date, and I have all bills on authorized payments. My bank even raised my credit limit

@stephandden

Ай бұрын

Thank you! We’re glad you like it 😊

Is it possible for a newcomer to open an investment account ?

@stephandden

Ай бұрын

Yes! For example, you can open up a TFSA as long as you’re 18 years old, have a valid SIN and are a resident of Canada. 😊 You can also open up a taxable account regardless of your status, but you’ll have to pay taxes on your investments. We have a playlist with all of the accounts available - check it out.

The Dennis part sounds like a Boring business class

@stephandden

Ай бұрын

Then it sounds like this isn’t the channel for you 😊 but, we hope you found the information helpful!

@ilikevids91

Ай бұрын

@@stephandden lol, I have a degree in Business; I was really joking. I love y'all.

First

@stephandden

Ай бұрын

So quick 🥳

So simple and great advice as usual! For cars there are also tires to change/store twice a year 🥲

@stephandden

Ай бұрын

Thank you so much 😊 And great point - there are so many ‘small’ car expenses that add up!