New to Canada? Biggest Money Mistakes, Expenses & Lessons | Get This Ep. 5

What does it actually cost to uproot your life and move to Canada, and what money mistakes do almost every newcomer make along the way? In the New to Canada edition of #GetThis, we break down how much it costs to move to a new country, the cost of living in Canada, and the financial surprises nobody warns you about when rebuilding your financial foundation from scratch.1. The cost of relocating your life to CanadaInternational students pay 10% more in monthly rent (and temporary workers pay 21% more) than Canadian-born renters—but finding a place to live is only one part of the puzzle. We get honest about international student tuition fees, phone bills, and whether working with an immigration agency is worth it. 2. The biggest mistakes newcomers to Canada makeWe’re all afraid of making financial missteps, but this is especially true for immigrants. From choosing the wrong financial institution and overpaying in fees to having no understanding of how credit works, we recount the biggest money mistakes we made after the big move.3. Finding success as a Canadian immigrantLinkedIn top voice and founder of Redefined, Ritika Saraswat, is rewriting the immigrant playbook. Here, she shares how she broke out of survival mode as an international student in Canada and built a community for fellow newcomers. We talk about emergency funds, the importance of investing in your skills, and why unlearning bad advice matters. _⏱️ Chapters:0:00 Meet the hosts of Get This0:48 Our immigrant stories: moving to Canada3:53 What shocked us: rent, banking fees & phone bills in Canada6:48 No credit history? Prepare to pay six months of rent upfront10:24 Immigration agency vs. DIY: Is it worth the cost?13:12 Most newcomers don’t understand the Canadian financial system15:39 Our biggest money mistakes as immigrants19:57 Guest intro: Ritika Saraswat, founder of Redefined20:16 Escaping the international student to PR survival mindset27:14 What does an emergency fund look like for a newcomer?30:14 Building a community for fellow newcomers31:38 Wrap-up_🔗 Resources & links:What does it cost to move to DIY your move to Canada? https://www.neofinancial.com/the-get/diy-canada-immigrationInternational students and temporary workers pay more to rent in Canada: https://www150.statcan.gc.ca/n1/pub/36-28-0001/2024010/article/00004-eng.htmDoes your credit score follow you to Canada? https://www.neofinancial.com/the-get/does-your-credit-score-follow-you-to-canadaBuilding credit from scratch as a Canadian immigrant: https://neofinancial.com/blog/how-to-build-your-credit-from-scratch-as-a-canadian-immigrant76% of newcomers are afraid of making financial mistakes: https://stories.td.com/ca/en/news/2025-07-28-new-td-survey-reveals-76-25-of-newcomers-polled-fear-making-fiHow to budget in Canada: https://www.neofinancial.com/the-get/how-to-budgetRitika Saraswat on LinkedIn: https://ca.linkedin.com/in/ritika-saraswatRe-Defined, a community for immigrants in Canada: https://www.instagram.com/redefinedcommunity/_📧 Submit your question to The Get: [email protected]📩 Subscribe to The Get newsletter: https://www.neofinancial.com/the-get📲 Follow Neo Financial: YouTube: https://www.youtube.com/channel/UCgnr3DFTnaFfCYRQN5r6ZjwInstagram: https://www.instagram.com/neofinancial/ Tiktok: Facebook: https://www.facebook.com/neofinancial/ X: https://x.com/Neofinancial LinkedIn: https://www.linkedin.com/company/neo-financial/#CostOfLivingCanada #MovingToCanada #NewcomertoCanada #PersonalFinanceCanada #GetThisPodcast Hosted on Acast. See acast.com/privacy for more information.