New currency, new rules.  Being financially literate is a big part of your success in your new home. This section has information, tips and hacks to help you handle your finances, as well as learn how to navigate taxation, government benefits, banking, and credit like a pro.

Quick Facts

• According to an Ipsos Reid Study (2001) higher financial literacy affects social, economic and physical well-being; opportunities for social and family interaction; participation in community activities; employability; career advancement; and corporate efficiency.
• The Government of Canada is encouraging people to have bank accounts to save administration costs for mailing cheques. Except for remote locations with no access to a nearby financial institution, the government can send payments through direct deposit. It would be more convenient for anyone receiving benefits such as GST, the Canada Child Tax Benefit, and other payments from provincial or territorial programs to have a bank account.
• People tend to underestimate what they spend. Studies show that incidental expenses (unplanned purchases at the grocery, or mall) take up 20% or higher of a family’s budget.

Money & Finances Resources

• Learning how to manage your finances is an important skill when you get to Manitoba. Here are basic details about Money, Banking and Taxation in Canada.
• The Bank of Canada is the nation’s central bank. Learn more about Canada’s monetary policy in this site.
• Learn more about your filing a tax return, whether for yourself or for a business, benefits and benefit payment dates, and other news and programs at the Canada Revenue Agency site.
• Manitoba’s Credit Unions is a site where you learn more about credit unions and what they can do for you.
• The Royal Canadian Mint is a Crown Corporation of the Government of Canada that produces coins or blanks, not only for Canada but for various foreign governments as well. It has state-of-the art facilities in Ottawa and Winnipeg which you can visit and tour.

Newest Money & Finances Articles

Insurance basics: 5 things you should know about insurance

All of us want financial security for ourselves and for our family. We know that having insurance can help us… Read more »

5 ways insurance can help you when you’re starting out

Life is unpredictable. Some things happen when we least expect them. Examples of events we most fear are illness, accident,… Read more »

Do retirees and seniors need to file tax returns?

Yes. Even if you are not working, you need to file taxes every year. Filing taxes is a way for… Read more »

8 smart ways to save this holiday season

It’s the most wonderful time of the year! Whatever you celebrate, be it Christmas, Hanukkah, Kwanzaa and others, this season… Read more »

Recent Money & Finances Articles, CLB3-4

Do I really need an emergency fund?

Did you know that one of the most important elements of a good financial plan is having an emergency fund?… Read more »

Top 5 scams newcomers should be aware of

Anyone can be a target of fraud. Frauds or scams are “schemes of deception designed to secure unfair or unlawful… Read more »

Tax basics for newcomers

Filing a tax return is one of the most basic things a resident needs to do. As a new resident,… Read more »

Filing your first tax return in 5 steps

Filing for the first time? Here is a quick guide for you in 5 easy steps: Do you really need… Read more »

Related Activities

Know your credit score

Knowing your credit history and how to build it up is essential to financial health. Attend this workshop to learn… Read more »

Money and Finances Workshops

Want to learn more about how to go about money in Canada? This series of workshops will discuss a variety… Read more »