By Nestor de Quiroz
There are lots of things you need to do when you move to a new country and you need to make sure every choice is well researched. You don’t want to fall for a Novacredit Scam or do anything that will put your finances into question. This is why we’ve prepared the following tips for you to look into.
1. SECURE a Manitoba Health Card and Social Insurance Number (SIN)??? Don’t give your personal information easily to anybody without verification. Consider this as your prized possession and protect it from IDENTITY THEFT… They can buy a house, a car, get a credit card using ur name & without you knowing….
2. FILL UP application for gov’t / provincial credits and benefits (GST,CTB,UCB, MCB etc.) Enjoy these benefits while it last, pag tumaas na income mo pakabig naman ang Canada. Wala kana nito, bayad kapa…lol.. Declare reasonable “WORLD INCOME” which would be the basis of the above benefits. Madami ill-advised to declare zero income but ended up in a messy situation with Canada Revenue Agency
3. FIND a Church / spiritual family, family doctor, a school for your kids, and groups that you can share your hobbies like playing sports, leisure activities, baking etc. Winnipeg is NOT the paradise that most of us have dreamed of, malungkot pag christmas, new year at ang mga magkapit bahay nde magkakakilala kaya madami ang may DEPRESSION and to make it worst, the weather is really brutal.. you just have to find ways to keep you busy
4. CHOOSE a Canadian bank / credit unions:
a. OPEN a Chequing account, preferably JOINT with spouse. Ask for Void
Cheque / Pre- Authorize Deposit (for employment purposes)
b. OPEN– Tax-Free Savings Account (TFSA), Registered Educational Savings Plan (RESP). Ipasok mo dito ung Child Tax benefit… This can be managed by Investment Companies through Financial Advisors. Get a pre-authorized payment plan. If you need to know how TFSAs work, you can check out helpful websites such as qualiacredit.com for more details.
c. DEPOSIT ALL your settlement funds for paper trails. We have an Anti-Money Laundering Law. Kung ilalagay mo lang sa ilalim ng carpet, mahihirapan ka when it is about time for you to use it, say down payment for a house. Government will NOT tax you on that kung ilalagay mo sa bank other than the interest income it incurred..
5. APPLY for a Credit Card: preferably JOINT with a spouse. If you don’t have a credit history then click here to find the best credit cards for no credit.
a. Utilize MAXIMUM of 50% of limit (ex. $1,000 limit, keep it to $500
balance). Contrary to common beliefs, you DO NOT need to use ur cards to build up ur credit. It doesn’t really matter whether you are paying in FULL or not. Basta lumampas ka bagsak ang credit score mo.
b. Once you are employed for 6mos, apply for 2 more REVOLVING
ACCOUNTS (another Credit Card and/or Line of Credit), as long as the
total limit of ALL is at least $5,000.
c. REMEMBER: Discipline your self to use just 1 credit card. DO NOT Buy
things MORE than what you can afford. Bago ka pa lang para mabaon agad sa utang. Majority of new immigrants fall into this trap… some never really recovered…
d. NEVER MISS A PAYMENT for even 1 day – Financial
Institutions can see late payments in your credit reports for 7 years, making it difficult to apply for bigger loans. Kung sa $500 sira kana, what more sa $30k n car loan or $180k na bahay… yun ang interpretation nila sayo…
6. REGISTER with MANITOBA START / Get your credentials assessed / Apply for a Driver’s License. Familiarize the bus routes, maging independent at wag umasang mag pahatid-sundo sa kamag anak na nde na masyado natutulog… hehehe
7. JOB HUNTING– Find a job (kahit ano basta mag karoon ng employment history & reference).
– LEARN how to make a Canadian resume na fit sa ina applyan mo, kung ilalagay mo ung, MBA, PhD, Manager, VP etc. sabit ka kase over qualified ka & possible k pang maging threat sa position ng boss mo hehehe
8. LIFE INSURANCE.. Kahit term lang to protect your family. Hindi tayo naniniwala dito, kase sa atin isang malaking SCAM. It is a NECESSITY here in Canada!!! Lahat ng bagay naka insured….This can also be a MORTGAGE LIFE INSURANCE pag bili ng bahay. Walang may gusto n mkita ang kanyang family na imbes n magluksa eh mag isip kung saan kukuha ng pera to
Cover funeral expenses or gastos pagpapabalik sa pinas. Nkakalungkot isipin pero madami ng ganito experience mga kababayan natin at nag sign up na lang sa GO FUND ME or Fund Raising para makalikom ng salapi.
9. HELP your close relatives (SPONSORS) –
a. FINANCIAL: Huwag maging pabigat sa kamag anak…hehehehe. Kung
kumukita na tayo mag kusa na tayo na tulungan natin sila. Huwag sasama
ang loob kung parang sa tingin mo eh sinisingil ka. Hindi nag bago ugali ng kamag anak mo, gipit lang talaga sila.hehehe.. kase malaki ung
monthly mortgage, property tax, fire insurance, Autopac, tv, internet,
gas & electicity, water, grocery, masyado malaki. MAX OUT n rin ung Line
of Credit nila na ginamit mo pang SHOW MONEY mo. Mayaman lang sila tingnan s Facebook, ang totoo inutang lang nila yun ….LOL. Ibahin
natin dito compared sa Pinas, sa atin TABO lang dito kahit ung pamunas
ng pwet mo n tissue may bayad…. LOL… MINIMUM: $400 ($200 sa
utilities & $200 sa groceries) ang i share mo, depende sa laki ng family. Pag nagbigay ka i break down mo kung para sa GROCERY or sa BILLS, mas gusto nila na separate yun. Para maka pag DIMSUM nmn sila paminsan minsan. Ma realize mo lang ang mga ganito pag nag SOLO ka na. So habang nakatira ka sa
kanila makaka ipon ka pa dapat makaipon din sila. Wag magtatago sa kwarto para lang nde mkita ng sponsor na bumii k ng sarili mong ulam. nde magandang ipakita ang ganito ugali sa taong nag bukas ng tahanan nila para sau… hehehe
b. SNOW CLEARING / GRASS CUTTING/ GARBAGE DISPOSAL/ HOUSEHOLD CHORES: Kamag anak natin double job na may under the table pa. Kaya sa pagod nde n nila magagawa mga ito. Malaking bagay na matulungan mo cla lalo na kung maalagaan mo anak nila habang wala ka pa work… ayos ka…
c. COMMUNICATE: Hindi nababayaran ang UTANG NA LOOB, atleast, let
us make them feel na very thankful tayo na natulungan nila tayo (kahit
ayaw mo..hehehe), keep in touch with them often kung nakalipat n kayo. Usually, Parehong balat sibuyas, SPONSOR at NEW IMMIGRANT. Common na sa cultura natin yan. Matutong mkisama habang nkikitira kung nakakdama n ng differences lipad na agad pag nakapagwork BUT open ur lines of communication…. Things always go sour kase both sides have their version against each other… minsan KSP lang c sponsor… kaya konting lambing lang…hehehe
d. KEEP YOUR PROMISE to live and settle in Manitoba – Wag muna tayo magmadali, antayin mo muna dumating ung huling inisponsoran bago mag paalam. Pag OK naman ang sponsor mo, pede ka na lumayas ng Winnipeg..
10. RENT – Get the contract under your name and your spouse’s. Pay rent ON TIME!!!. Don’t pay cash, use your own cheques and ask for receipts…….
11. UTILITIES – Get gas/ electric, cable, water, cellphone bills under BOTH names. Pag lipat kau ng cable company between SHAW and MTS, make sure na isoli nyo ung complete devices. Sirain nyan ang credit history mo BIG TIME pag binale wala mo. mahilig kase tau sa promo… hehehe
12. Pre-owned / New vehicle – Eventually, you will be planning to have one of the biggest investments of your life, a house. More often than not, huge car loans get in the way of Mortgage Approvals. So kung pre-owned na maliit ang monthly mas maganda. Careful planning is very important.
13. INVEST – Take advantage of Government REGISTERED investment vehicles like TFSA, RRSP, RESP. Consult your Financial Advisor to assess your INVESTMENT TOLERANCE and understand your investment options. REMEMBER: A Child Tax Benefit eh sa mga bata so ilagay natin sa RESP (educational plan) nila na tatapatan ng Government para lumaki, wag pang monthly payment ng bagong sasakyan
14. BUYING A HOUSE. You can buy a house kahit under a year ka in Canada. However, it is still advisable to wait over 12 months bago mag decide bumili ng bahay kung 5% down payment lang kaya mo. Dahil mataas na ang RENT, it is practical to purchase. If you are renting $1,000 a month. You are losing $12,000 a year, if for ex. nataas ang bahay ng $10,000 every year, you are losing $22,000 in TOTAL every year habang nag aantay ka. SAVE money for DOWN PAYMENT for your house para makakuha ka ng magandang deal sa interest rate. Hanggat maari huwag umutang para pang down sa another utang at huwag bibili ng bahay na hindi kakayanin ng budget, dapat i factor din ung pinapadala sa Pinas. Isipin mo kung ma short ka ng $100 a month in 5 LOOOONG YEARS!!! masakit sa ulo… Need mo na ibahin ang lifestyle mo. mag water therapy k n lang, sandwich at banana na lang diet mo, sabagay mapipilitan ka maging healthy…
15. SOCIAL/ PARTY – All year round, hindi maaring nde ka ma invite sa mga baby shower, birthday, debut, binyag, wedding social, at kung ano ano pa. Basta ginanap sa restaurant or community center, automatic na dapat may pakimkim agad na atleast $20 per head para mabawi ang gastos. nde puede thank you, no such thing as free meal. Nakangiti lang cla pero alam nila kung sino ang nagbigay at nakalibre, meron sila mata sa likod…LOL… Pag bigyan mo lang, kase sa susunod nmn na ikaw mag pa social obligado naman cla na umattend sau, bawian lang . Mhrap maipaliwanag pero ito na nakagawian sa Winnipeg…
Ang mga bagay na ito ay hango sa ibat’ ibang karanasan ng mga pinoy dito Winnipeg, propesyun at malupet na pag sasaliksik ng may akda. Bagamat mayroon halong kalokohan, eto ay may katotohanan
About the author: Nestor de Quiroz is a Mortgage Professional with a background in life Insurance, investments, income tax, home repairs / renovation, sports management. His first few months in Canada was a struggle for him and his family. He failed to re-align his work experience and took menial jobs just to have ends meet. He was a janitor who specialized in cleaning toilet bowls and was a security officer in a local liquor store, where one of his colleagues got stabbed. Got depressed and failed so many times before he got to where he is. He wished to serve as a blessing and an inspiration to his KABABAYANS who are having hard time adjusting in Canada…
About the Author:
Nestor de Quiroz
Finding ways to make you dreams come true
Read my story here: Immigrant Inspiring Story – from Janitor to Realtor