Newcomer Hub
Simple money guides for people new to Canada.
Welcome! This page has free guides and tools. Learn about money, banking, credit, and housing in Canada. No pressure. No sales.
What You'll Learn Here
Before You Arrive
Your ultimate pre-arrival checklist
This information is designed to help you prepare with confidence before you arrive in Canada.
Start Here: First Steps
These are the most important things to do first
Get Your SIN
You need a SIN to work in Canada. It is a 9-digit number. Apply at Service Canada.
Read guide →Open a Bank Account
A bank account keeps your money safe. You can receive payments. Most banks have plans for newcomers.
Read guide →How Credit Works
Credit is your money history. It shows if you pay on time. You need credit to rent or borrow.
Read guide →Avoid Scams
Some people try to steal money. Never share your SIN or bank PIN. Be careful with strangers.
Read guide →Benefits for Newcomers
The government gives money to some people. You may get money for rent, children, or taxes.
Read guide →Build Financial Trust
Pay your bills on time. Use a credit card carefully. This helps you get loans later.
Read guide →Tools for Newcomers
Free tools to help you
Newcomer Readiness Tool
Check if you are ready for Canada.
Use tool →Budget Planner
Track your money. See how much you spend.
Use tool →Credit Score Simulator
See how your credit can change.
Use tool →Document Checklist
List of papers you need to bring.
Use tool →Currency Converter
Change money from your country to CAD.
Use tool →Family and Youth
Guides for families and young people
RESP (Education Savings)
Save money for your child's school. The government adds free money.
Read guide →Teen Money Guide
Help young people learn about money.
Read guide →School Basics
Public school is free in Canada. Learn about the school system.
Read guide →Child Benefits
The government gives money to families with children.
Read guide →Family Budgeting
Plan how your family will spend and save money.
Read guide →Housing and Renting
Find a place to live in Canada
Credit and Banking
Learn how money works in Canada
Credit Score Basics
What is a credit score? Why does it matter?
Read guide →Secured Credit Cards
A safe way to build credit. You give a deposit first.
Read guide →Avoiding Payday Loans
Payday loans cost a lot. Learn safer options.
Read guide →Reading Your Credit Report
How to check your credit report for free.
Read guide →Credit Reports and Disputes
Fix problems with your credit. Improve your score.
Read guide →Benefits and Rebates
Get money back from the government
Canada Groceries and Essentials Benefit (CGEB)
Money back from the government every few months. This replaced the GST/HST credit.
Read guide →Canada Child Benefit
Monthly money for families with children.
Read guide →Provincial Programs
Each province has its own benefits. Check your province.
Read guide →Cash-back Apps
Get money back when you shop. Many apps are free.
Read guide →Earn & Save Hub
All ways to save money in one place.
Read guide →Glossary for Newcomers
Simple words explained
Credit Score
A number from 300 to 900. It shows if you pay money back on time. Higher is better.
TFSA
Tax-Free Savings Account. You save money here. You pay no tax on what you earn.
RRSP
Retirement Savings Plan. Save money for when you are old. You pay less tax now.
Amortization
How long you take to pay off a loan. Often 25 years for a home.
Prime Rate
The main interest rate in Canada. Banks use it to set their rates.
GIC
Guaranteed Investment Certificate. Your money is safe. You earn a fixed amount.
CRA
Canada Revenue Agency. The government office for taxes.
CMHC
Canada Mortgage and Housing Corporation. They help people buy homes.
Pre-Approval
A bank checks if you can borrow. It does not hurt your credit.
Hard Check
When someone checks your credit. It can lower your score a little.
Soft Check
When you check your own credit. It does not hurt your score.
Search Resources
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Common Questions
Answers to questions newcomers ask
Financial Glossary
A simple, plain-language glossary of 300+ Canadian financial terms. Learn the meaning of common banking, credit, mortgage, investing, insurance, and government terms — all explained in clear, everyday language.