MISTAKES NEW IMMIGRANTS MAY AVOID AND SOME SUGGESTIONS:-
Housing:
1. Try not to get any residential accommodation on long term basis. This can hamper your job search. Remain on month to month rent. Advance should not be more than one month rent.
2. Try to pay rent by cheque or take receipt of the payment as you may get good tax refund in the 1st year.
3. Do not overspend on housing till you have stable job. Sharing accommodation, basement apartment saves $$$.
4. Do not buy a property on the rosy picture shown by realtor (price increase assurance, rental income etc).
5. Never sign a document of retention (agreement) produced by a realtor for rental as well buying property.
CAR :
1. Bring your old driving licence along with the verification letter ( on letter head of issuing authority)
2. Get your driving licence as soon as possible, even when you have no plan to buy car in coming 2-3 years. As your DL will become old, after few years you would get low insurance quotes, will save $$$.
3. If one can afford, one should buy car as soon as possible. If looking to buy a used car try to buy a car which is in better running condition as the maintenance of vehicle is very very expensive. Normally old cars above $ 6-7000 are ok, any car having run not more than 125000 kms is good.
4. One has to pay tax upto 10 % on even the second hand cars, so it adds up to the cost. Insurance is also paid for 2 months at the beginning.
5. While getting a car insurance tell that you will be just using it for shopping and family entertainment, no regular commuting to workplace, it will decrease ur premium, Ins Co will say you can drive upto 12000km in a year.
6. If possible buy a car that saves gas, in winter your car may give a mileage of 3-4 kms in a lit of gas. One is not allowed to go over 120 ( officially 100 ), 4 cylinder is good. Mini van is handy in carrying large stuff, longdrive, big family.
JOB : ( initial preparation, resume, applying , interview )
1. While in the process of getting immigration start looking for requirements in your own profession, search the job sites, look for the job duties and focus on the duties you have been performing. As Canadian employers look for specialized employees narrow down to a particular job category.
2. Also look for up gradation programe, OSAP is available for new immigrants landing in Ontario and similar program would be available in other provinces also. Under OSAP not only college fee is paid but books expense, home expense is also given.
3. In case of not able to see the job in your own specific category look for a alternate job.
4. Upgrading your communication skills would always help. Start rolling your tongue as Canadians do. Visa waiting time is the best time to do it.
5. Go through the job interview questions and make up the answers. This is valuable time and by doing these steps while in the process of application would help later on. Search the net for the potential job interview questions.
6. Co Op program may help, so one can go for it.
NETWORKING :-
1. Networking always helps in getting any kind of job is Canada. Stay connected with friends, relatives, known and unknowns.
BANKING PRODUCTS :
1. Get a Credit card as soon as possible, if unable to get unsecured, get secured. Always pay before the due date. Credit limit of CC does not mean anything for the credit score.
2. Do not get credit card ( store cards or any other CC ) unless you really need it. Each time your credit report is pulled and it affects the score by about 30 points. You may come across agents, billing clerks offering or insisting CC to save money, my recommendation always say “NO”. Credit product is a debit history and should be avoided. Increasing limit of CC also means pulling fresh credit report, so be cautious about it. Pre approved increase of limit by FI is ok.
3. Do not invest money in Mutual Funds, RRSP and RESP on just the asking of sales person, go through the benefits first which you will get, till that time say NO. Till you are well settled I will suggest do not invest. One may have to pay 10-21 % charges on withdrawing money from RRSP.
4. In Canada you may come across salesman who will befriend you just to sell their products and after selling it, you would never see them again. Beware of these people.
5. Cheques are very expensive in Canada, one may end up paying $ 30-45 for 50-100 cheques. New immigrants may have to move, so do not print your address and phone number on the cheques.
BUSINESS :
1. You can come with a business plan but Canada is difficult place for small business. Stay in Canada for some time, do research and then start it. Business loan is not available till the business is shown in tax returns as a profit venture; Line of credit without disclosing it real purpose can be used for this purpose.
2. Canadians like to go to franchises be it pizza, gym, retail outlet. It is in their mindset.
CONTRACTS :
Always think twice to enter into any kind of contract in Canada, like cell phone, cable, internet connection, rental residential as well as commercial , car lease, energy company, gas co etc etc. It is very difficult to get out of contract. Non payment means that your credit score will go down for the next 3 years and even after that whenever you approach a lender, you will be said to first clear it resultant you may end up paying 1000's for 100's.
CHILDREN :
1. Schools have no books, they rely on worksheets and one need do a lot of project works / presentations. Board site, school site and class site is a useful place.
2. Neighborhood services are mostly good, like public library, gym, basketball, swimming, ice skating. It is membership based and except for library rest is paid.
3. For kids cycle- wallmart, Canadian tire is good. Cycle store are expensive although they claim that their products are of better quality.
4. Toys – wallmart.
5. Money spent on kids sports activities can be deducted from gross income for tax purposes.
AVOID :
1. Expensive stores like metro, loblaws , bay.
2. Cell phone companies like Rogers, Bell.
3. Shoppers drug mart
4. Monthly bus pass, as it a lot of times cost more than a regular ticket
VISIT :
1. Dollar stores for petty things. I like Dollarama.
2. Fresh Co, food basics, Chinese groceries store.
3. Tiger direct, fortune computes for electronics.
4. Wallmart- for everything.
5. On line sites those offer good bargain.
6. Costco-it is membership based, if you have big family only then go there.
7. IKEA- for furniture and home décor, avoid paper furniture.
8. Bed , bath and beyond is good place to buy .
9. Flyers sites.
Note : Most of these suggestions do not apply to people who have oil well in their home country. This is not end of list, I am looking for other landed immigrants to write here some useful tips / suggestion which may benefit new immigrants.
Housing:
1. Try not to get any residential accommodation on long term basis. This can hamper your job search. Remain on month to month rent. Advance should not be more than one month rent.
2. Try to pay rent by cheque or take receipt of the payment as you may get good tax refund in the 1st year.
3. Do not overspend on housing till you have stable job. Sharing accommodation, basement apartment saves $$$.
4. Do not buy a property on the rosy picture shown by realtor (price increase assurance, rental income etc).
5. Never sign a document of retention (agreement) produced by a realtor for rental as well buying property.
CAR :
1. Bring your old driving licence along with the verification letter ( on letter head of issuing authority)
2. Get your driving licence as soon as possible, even when you have no plan to buy car in coming 2-3 years. As your DL will become old, after few years you would get low insurance quotes, will save $$$.
3. If one can afford, one should buy car as soon as possible. If looking to buy a used car try to buy a car which is in better running condition as the maintenance of vehicle is very very expensive. Normally old cars above $ 6-7000 are ok, any car having run not more than 125000 kms is good.
4. One has to pay tax upto 10 % on even the second hand cars, so it adds up to the cost. Insurance is also paid for 2 months at the beginning.
5. While getting a car insurance tell that you will be just using it for shopping and family entertainment, no regular commuting to workplace, it will decrease ur premium, Ins Co will say you can drive upto 12000km in a year.
6. If possible buy a car that saves gas, in winter your car may give a mileage of 3-4 kms in a lit of gas. One is not allowed to go over 120 ( officially 100 ), 4 cylinder is good. Mini van is handy in carrying large stuff, longdrive, big family.
JOB : ( initial preparation, resume, applying , interview )
1. While in the process of getting immigration start looking for requirements in your own profession, search the job sites, look for the job duties and focus on the duties you have been performing. As Canadian employers look for specialized employees narrow down to a particular job category.
2. Also look for up gradation programe, OSAP is available for new immigrants landing in Ontario and similar program would be available in other provinces also. Under OSAP not only college fee is paid but books expense, home expense is also given.
3. In case of not able to see the job in your own specific category look for a alternate job.
4. Upgrading your communication skills would always help. Start rolling your tongue as Canadians do. Visa waiting time is the best time to do it.
5. Go through the job interview questions and make up the answers. This is valuable time and by doing these steps while in the process of application would help later on. Search the net for the potential job interview questions.
6. Co Op program may help, so one can go for it.
NETWORKING :-
1. Networking always helps in getting any kind of job is Canada. Stay connected with friends, relatives, known and unknowns.
BANKING PRODUCTS :
1. Get a Credit card as soon as possible, if unable to get unsecured, get secured. Always pay before the due date. Credit limit of CC does not mean anything for the credit score.
2. Do not get credit card ( store cards or any other CC ) unless you really need it. Each time your credit report is pulled and it affects the score by about 30 points. You may come across agents, billing clerks offering or insisting CC to save money, my recommendation always say “NO”. Credit product is a debit history and should be avoided. Increasing limit of CC also means pulling fresh credit report, so be cautious about it. Pre approved increase of limit by FI is ok.
3. Do not invest money in Mutual Funds, RRSP and RESP on just the asking of sales person, go through the benefits first which you will get, till that time say NO. Till you are well settled I will suggest do not invest. One may have to pay 10-21 % charges on withdrawing money from RRSP.
4. In Canada you may come across salesman who will befriend you just to sell their products and after selling it, you would never see them again. Beware of these people.
5. Cheques are very expensive in Canada, one may end up paying $ 30-45 for 50-100 cheques. New immigrants may have to move, so do not print your address and phone number on the cheques.
BUSINESS :
1. You can come with a business plan but Canada is difficult place for small business. Stay in Canada for some time, do research and then start it. Business loan is not available till the business is shown in tax returns as a profit venture; Line of credit without disclosing it real purpose can be used for this purpose.
2. Canadians like to go to franchises be it pizza, gym, retail outlet. It is in their mindset.
CONTRACTS :
Always think twice to enter into any kind of contract in Canada, like cell phone, cable, internet connection, rental residential as well as commercial , car lease, energy company, gas co etc etc. It is very difficult to get out of contract. Non payment means that your credit score will go down for the next 3 years and even after that whenever you approach a lender, you will be said to first clear it resultant you may end up paying 1000's for 100's.
CHILDREN :
1. Schools have no books, they rely on worksheets and one need do a lot of project works / presentations. Board site, school site and class site is a useful place.
2. Neighborhood services are mostly good, like public library, gym, basketball, swimming, ice skating. It is membership based and except for library rest is paid.
3. For kids cycle- wallmart, Canadian tire is good. Cycle store are expensive although they claim that their products are of better quality.
4. Toys – wallmart.
5. Money spent on kids sports activities can be deducted from gross income for tax purposes.
AVOID :
1. Expensive stores like metro, loblaws , bay.
2. Cell phone companies like Rogers, Bell.
3. Shoppers drug mart
4. Monthly bus pass, as it a lot of times cost more than a regular ticket
VISIT :
1. Dollar stores for petty things. I like Dollarama.
2. Fresh Co, food basics, Chinese groceries store.
3. Tiger direct, fortune computes for electronics.
4. Wallmart- for everything.
5. On line sites those offer good bargain.
6. Costco-it is membership based, if you have big family only then go there.
7. IKEA- for furniture and home décor, avoid paper furniture.
8. Bed , bath and beyond is good place to buy .
9. Flyers sites.
Note : Most of these suggestions do not apply to people who have oil well in their home country. This is not end of list, I am looking for other landed immigrants to write here some useful tips / suggestion which may benefit new immigrants.
