Money is an essential part of your experience as an international student. From your pre-arrival expenses to your daily living expenses, becoming familiar with the currency, banking procedures and taxation laws of Canada will make your adjustment to life in Canada much easier. Whether you will rely on the financial resources you already have or you intend to supplement your income while studying in Canada, competently managing your money will draw on some expert advice and solid strategies.
Introduction to Currency (Bills and Coins)
Living in a new country comes with many new lessons and adjustments. One very important area to adapt to quickly is the currency. In Canada, the bills and coins used to make purchases are very different from what you use in your country of origin and it will help if you get to know them before you even arrive. For an introduction to the Loonie, Toonie and the colourful banknotes of Canada, please visit this page.
Debit Cards: Most financial institutions offer you an electronic card, usually called a debit card or bank card, that lets you do transactions at a cash machine. Read more here.
Credit Cards: An electronic card that lets you borrow money from the bank each time you use it. When you use a credit card to buy things now, you will need to repay the loan each month.