Important financial steps for New Immigrants in Canada.MTS - RRSP Home Buyers Plan
The following financial steps will help new immigrants build their financial future: Get a Bank Account Set up a bank account right away, this helps build a credit history as well as save money. It's a simple process; a bank representative can help you. You will need two pieces of identification, one with a photo. Take Health Insurance for the first 90 Days. Since OHIP health coverage does not apply for the first 90 days, it could be a wise decision to tak a health and prescription drugs plan that could take care in case of a health issue during the first 90 days. Buying a Life Insurance policy It would be very important to consider a Universal Life or a Term Insurance for protecting your family. Establish a Credit History This can include: •Paying bills like rent, utilities, phone or cable on time. •Applying for small loans or credit cards and paying off the balances on time. It can take 18 months to establish a good credit score. Your credit score is based on a number of things like: •Your record and length of employment •Owning or renting a home •Owning or leasing a car •Any debt you carry •Credit card and small loan repayment Once credit history is established you can then consider major purchases like home ownership. The Canada Mortgage and Housing Corporation provides information on home ownership. As well, the Ontario government website Settlement.Org offers newcomers personal finance guides. Plan Your Financial Future Once settled, your next step is to build your ...
ไม่มีความคิดเห็น:
แสดงความคิดเห็น