Your new life in Canada is full of opportunity. You may decide to go back to school, build a new career, or start your own business. Living in Canada is exciting, but it can also be expensive. Whatever you plan to do, you will need to manage your money carefully. We are here to help.
To manage your day-to-day costs, you will need a bank account. With a CIBC chequing account you can:
- Pay for goods and services using your bank card or by writing a cheque
- Pay your bills online or by telephone
- Get cash from a bank machine or from a CIBC branch: find the one nearest you
In addition to day-to-day expenses, you may find you suddenly have to pay for something you were not expecting, like a new pair of eyeglasses or car repairs. If you earn more money than you spend, you will have money left over once you have paid all of your expenses. If you put this extra money away safely in a CIBC savings account, you will earn interest on your money and be better prepared for unexpected costs.
Understand where your money goes
Even if you think you are managing your money carefully, you may find you have less in the bank than you thought. That is why it is important to create and follow a budget. A budget is designed to make sure you do not spend more money than you make. You can learn a lot about the money you spend and what you spend it on by using our online Budget Calculator.