Session Objective
Learn about the basics of banking, credit and taxes.
Learning Outcomes
- learn why a bank account is needed and how to choose the right bank and banking services
- understand the advantages and dangers of using debit cards, credit cards and ATMs
- learn how to use effective money management skills to build credit history
- understand the terms used on a pay statement and the purpose of payroll deductions
- understand when, why and how to file an annual income tax return
- know where to go for support and guidance
Session Outline
- overview
- bank accounts and banking services
- ATMs, debit cards and credit cards
- ATM — 24 hour banking
- how a debit card works
- credit cards — temporary loan
- transaction fees can add up
- establishing a credit history
- understanding your pay cheque and your payroll deductions
- filing your income tax return
- when and how to file
- getting the help needed
- resources
- Q&A
Learning Materials
- Canadian Currency — a visual guide for Canadian currency (paper and coin)
- How to Write a Cheque — explains the different parts of a cheque and how to write one
- Debit Card & Credit Card — explains the different parts of a debit card and a credit card
- Sample T4 Slip — a sample income tax slip
- Sample Pay Cheque Stub — explains the different the parts of a pay cheque stub
- Glossary of Terms — defines various financial terms and items
Photo credit: Getty Images
Session Level
Basic
Topics Covered
Tax
Financial Planning
Managing Finances
Personal Finances
Credit
Who Should Attend
New Canadian immigrants who have been in Canada less than two years