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. You will also learn how to navigate taxation, government benefits, banking, and credit like a pro.
- According to an Ipsos Reid Study, 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. 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.
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You can see more simple English articles here.
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