Welcome to Kamloops: 5 Banking and Everyday Life Planning Tips for living in Kamloops

Tip 1: Get organized with the Newcomers to Canada Day Planner 

Newcomers to Canada Day Planner goal is to give a quick and easy access to things one needs to know as one builds a new life in Canada, such as: buying or renting a home, finding a job, checking out your qualifications and credentials, information about Canada’s health care system, education systems, and government programs, learning more about house prices, credit card rates, car leasing, dentists, taxes, your rights and responsibilities in Canada, training programs, employers, starting a business, and common business practices.

Tip 2: Review workbooks, checklist and handbooks to plan your first month living in Kamloops

Citizenship and Immigration Canada developed a Handbook: Planning to work in Canada? An essential workbook for newcomers. The handbook provides a good overview how one can start building employment history in Canada and strengthen their income. The workbook was created for internationally trained individuals who are considering moving to Canada or who have recently arrived.  Using this workbook will allow newcomer to Canada to obtain the greatest benefit from their experience and education. In addition to workbook, complete the newcomer checklist where one can learn the key things to do once the person arrives at the new city (all data is for Manitoba but easily applicable to Kamloops). Sponsorship Handbook provides information on how to sponsor a refugee to Canada with information on how to satisfy needs of refugee. The sponsorship guide is written in Toronto for Syrian refugee, it can be easily adapted for Kamloops for any refugee.

Tip 3: Strengthen financial literacy and find your bank in Kamloops

The city of North Bay develop a guide that can be helpful to anyone who is new to Canada: Financial literacy guide for newcomers to Canada.  Canadian Bankers Association have a designated page that a great resource with links to major banks information for newcomers/ new Canadians. One can find all banking questions answered on Canadian Bankers Association questions and answers section of the website. The list of all banks and ATMs in Kamloops can be found here.

Tip 4: Get familiar with banking terminology to save and build credit in Canada

Some topics that are relevant to banking include Chequing vs. Savings; Accounts / Types of Savings; Accounts / RRSP, RESP, RDSP, TFSA / Affordable Banking Services / Credit and Banking Services / How to protect yourself financially / Starting your own Business. They are covered in two modules: How to Bank and Save In Canada and How to Build Credit in Canada. The other documents are available on ABC Money Matters website to include Independent Workbooks: A Place to Start: Spending Plans; RESPs and Other Ways to Save and Financial Literacy for the Family; Tip Sheets: Celebrate Holiday Cheer and Financial Education with Your Family and Tips to Keep on Budget During the Holidays.

Tip 5: Find out your credit score

7 Common Credit Score Myths is an excellent article to learn about credit score through debunking common myths. Please review How to Get Your Free Credit Report & Check Your Credit Score and do it once a year. Monesysense provides some good tips on how to build a credit score for newcomers. You can also estimate your credit score online  If you have debts, then get debt help.

If you have additional banking and everyday life planning resources to share please e-mail okondrashov@tru.ca