✓Newcomer Checklist
Your First Year Financial Checklist
16 essential tasks to complete in your first year in Canada. Check them off as you go — your progress saves automatically.
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Month 1
Getting startedApply for a Social Insurance Number (SIN)
Open a newcomer bank account
Set up a phone plan
Create a first-month budget
Apply for a provincial health card
Apply for a Social Insurance Number (SIN)
Open a newcomer bank account
Set up a phone plan
Create a first-month budget
Apply for a provincial health card
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Month 2–3
Building foundationsApply for a secured credit card to start building credit
Register for CRA My Account (online tax portal)
File for the Canada Child Benefit (CCB) if applicable
Set up an emergency savings target (3 months of expenses)
Apply for a secured credit card to start building credit
Register for CRA My Account (online tax portal)
File for the Canada Child Benefit (CCB) if applicable
Set up an emergency savings target (3 months of expenses)
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Month 4–6
Growing & savingOpen a TFSA and set up automatic contributions
Compare TFSA vs RRSP for your situation
Understand your tax obligations and key deadlines
Open a TFSA and set up automatic contributions
Compare TFSA vs RRSP for your situation
Understand your tax obligations and key deadlines
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Month 7–12
Looking aheadReview your credit score and report
Evaluate FHSA if planning to buy a home
File your first Canadian tax return
Assess rent vs buy options for the next year
Review your credit score and report
Evaluate FHSA if planning to buy a home
File your first Canadian tax return
Assess rent vs buy options for the next year
🚀
Month 1
Getting startedApply for a Social Insurance Number (SIN)
Open a newcomer bank account
Set up a phone plan
Create a first-month budget
Apply for a provincial health card
Apply for a Social Insurance Number (SIN)
Open a newcomer bank account
Set up a phone plan
Create a first-month budget
Apply for a provincial health card
🧱
Month 2–3
Building foundationsApply for a secured credit card to start building credit
Register for CRA My Account (online tax portal)
File for the Canada Child Benefit (CCB) if applicable
Set up an emergency savings target (3 months of expenses)
Apply for a secured credit card to start building credit
Register for CRA My Account (online tax portal)
File for the Canada Child Benefit (CCB) if applicable
Set up an emergency savings target (3 months of expenses)
📈
Month 4–6
Growing & savingOpen a TFSA and set up automatic contributions
Compare TFSA vs RRSP for your situation
Understand your tax obligations and key deadlines
Open a TFSA and set up automatic contributions
Compare TFSA vs RRSP for your situation
Understand your tax obligations and key deadlines
🏠
Month 7–12
Looking aheadReview your credit score and report
Evaluate FHSA if planning to buy a home
File your first Canadian tax return
Assess rent vs buy options for the next year
Review your credit score and report
Evaluate FHSA if planning to buy a home
File your first Canadian tax return
Assess rent vs buy options for the next year
Need more guidance?
Explore our full newcomer financial roadmap with articles and calculators.
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