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What financial mistakes to avoid in Canada? - RON JOHNSON (Canadian Personal Finance Session)
Manage episode 299783525 series 2969500
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Key Takeaways: Common financial mistakes Canadian Newcomers Make
- How quickly can you improve and boost your Credit Score?
- How many credit cards and credit accounts should you have?
- What are the common mistakes # international students make with their credit?
- Difference between Line of credit, Loans, Credit cards and RRSPs
Today's guest is our very own #WisenUp co-host Ron Johnson, who has a wealth of personal and professional experience to share about living, working and thriving in Canada.
Ron is an ex-banker who started his career with Morgan Stanley and moved to Canada working at corporates such as American Express, CIBC and BMO. He has helped thousands of Canadians manage their personal and business accounts, investments and mortgages.
Ron understands the specific and unique financial challenges that many students and new immigrants face in Canada, and has spent hundreds of hours educating such groups on efficient strategies to improve their creditworthiness and obtain superior financing opportunities. He coaches newcomers on "How to be a Top 10% income earner in Canada?"
If you have any questions about Canada please email them to:
support@wisenup.ca
Register at https://www.wisenup.ca to enjoy all the other fun episodes, free Ebooks, Live Q&A and 30 minute consultations.
Kapitler
1. Intro (00:00:00)
2. About Ron (00:00:26)
3. Does everyone need a credit card? (00:02:57)
4. How to get a good credit score? (00:05:17)
5. Story: Undergrad student has better credit score than most new Canadians! (00:07:20)
6. How many credit cards should a student own? (00:11:38)
7. Healthy minimum balance limits on credit cards? (00:12:36)
8. Potential downsides of getting a credit card (00:15:10)
9. How is our Credit score generated and impacted? (00:19:22)
10. Popular credit card choices (00:22:00)
11. Amex details (good and catchy info for marketing) (00:22:18)
12. No fee cards vs. Credit cards with fees (00:23:16)
13. Benefits for Canadians to have a US credit card? (00:25:11)
14. Joint credit card: myth buster! (00:27:05)
15. Credit card vs line of credit (00:29:00)
16. RRSP vs. RESP (00:32:55)
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