Hi guys!
E don tey o!
I've been away from here since last year. I saw a lot of messages and I tried to respond. If I missed yours, kindly resend

Black Friday loading

The insurance on credit card makes sense mainly for people who leave balances on their credit cards. I canceled mine because I didn't need it. Weigh am wella...if you no need am,
no take am.
I recommend insurance on loans sha...any loan wey you no fit vex pay off if gbege happen, reason insurance ontop am.

einsteino:


I had something like that on my credit card, the monthly premium for the insurance made me prefer risking all that. So, I cancelled the insurance lol. It makes sense for me since I don't have mortgage or loan to service yet.

You go need send me PM, chief.
I am not allowed to post "ads" for RBC

Jbelieve:


Details please

*mic check 1,2*

Canny way people wey go land between now and Jan 31, RBC get some better offer for una o!
If you dey land for Edmonton, na me be your plug.

Holla8)

Make i follow add mouth for this matter.

Get insurance coverage where you can to protect your cash flow. You fall in winter and you're unable to work for 3months. Your work pays you 55-75% of your income but this isn't enough to see you through the month. The amount from work ideally should only cover your feeding and lifestyle.Mortgages and other loans shouldn't be a part of what you pay from short/long term disability income. It is a good idea to take separate insurance on loans so you have one less payment to worry about if stuff happen.

einsteino:


Gbam! Each time I come out to my work's parking lot and see the cars my colleagues drive, I begin to suspect HR is only paying me a quarter of my wage. It is so hard to believe that folks who earn the same hourly rate as me would dare to drive sports cars and fancy trucks. These guys here just put everything on credit and finance option, which isn't exactly a bad thing but they often do this in a very financially irresponsible way. Once they miss one pay cheque, their whole life comes crumbling like a pack of cards. I remember when I called my bank a couple months ago, the call centre rep checked my account and was like "Oh your account looks good, care for a credit limit increase?"... You would think she saw millions in it, money wey dey inside no go even sustain me pass a month without income but because canadians hardly have savings without heavy debt, na beautiful account to her. and the only thing she could think of suggesting was credit limit increase, so that I go come carry gbese wey go wipe the savings

It is true that in this part of the world, credit and finance options are a nice to have and often a necessity, but living within your means is a universal necessity else you would die above your means lol. If you wan dey buga for this Canada, banks go just dey happy on top your matter. People here need to learn how to manage their finances.

Oga mi!
Na the cheat way to save up for first house because you fit draw on your RSP up to 35k under the first home buyer program.
I elected to contribute to TFSA tho because RSP no really give me benefit because of my tax bracket. We go enter RSP when tax bracket climb up

canadaman18:


Sharp guy !

The savings usually end up in an RRSP too which mean temporary tax shelter .

Also when you’re filling tax return your RRSP contribution is deducted from taxable income which means you’ll get a couple thousand refunded. Best thing to then reinvest this refund and keep repeating the process yearly .. You’ll be shocked at how much one can save this way

Heavy greetings to you too!

zohan101:
���..Edmonton they here o!!!..Greetings sir

This!!!
My organization has this matching plan and I have tricked myself to live and budget with what i get paid. I elected to max my contribution for maximum matching from the organization and I've been living ok and debt free. In my subconscious, what I get in my account is my laundry not what I have before deductions. I started in May and i already have some decent change in the plan.

canadaman18:


Well said!!

Another thing to add/emphasize is everyone should get into the habit of saving. No matter how small.

Most companies offer some kind of Savings plan for their employees and a lot of companies will even match your contributions (to a certain limit) . They take off the money before you get your pay cheque and so you dont even really feel it. Before you realized you've saved a few thousands which then encourages you to save more.

My people!
It's your favourite banker back on the hornline
E don tey o! How una dey? How is Canada treating y'all? Edmonton people...tiri gbosa for una

Apologies for the late reply.

It goes without saying that Canada's system is a blessing to Nigerians who are used to paying school fees from day one till university. While i agree that other payments like mortgage and other monthly deductions make it less palatable for us, the structure gives us time to plan for it. Realistically speaking, parents have 18yrs to save up for their kids education.Some people pay down 2 mortgages in this same time frame. The RESP is the most obvious choice of investment for children cos it will set them up for life quicker than their peers who pay student loans for the first 7-10yrs after school. The whole idea of the RESP(Registered Education Savings Plan) is tax shelter and the benefit of drawing on compound interest. Setting aside some funds up to maximum amount allows you get benefits up to a lifetime amount of $7,200 from the government. Put in perspective...setting aside $100 bi-weekly per child(2) over 18yrs at a very conservative interest of 3.5% will amount to about $130,000 at the 18th year. While there is no guarantee, a moderate interest of 3.5 is super doable. Please note that this amount will be taxed when withdrawn but at the tax bracket of the children. For other investments options for them, the obvious option will be mutual funds since you have a fairly long time horizon. For the RESP investment, RBC has some educational target funds that start fairly aggressively and are re-balanced as the child closes in on his/her 18th birthday. The whole idea is: the closer you are to your investment time-frame, the less risk you should take.

I really can't think of any other investments for the kids. The system here is highly programmed and except one breaks into the crazy salary bracket, the options for wealth accumulation are limited. I'm willing to answer any more questions you might have.

19CannyMum:


How woodcrest, I'm sure all is going well?

Please do you have any info or advise to share on Children's account or investments? Thanks in advance.

Sorry bro. I've been away for a while. I'll send to you before end of day.

Bigdhemmy:
Hello bro, Please I will be glad if you can send me the materials. I am interested.Inbox me: peaceatalltime@gmail.com

You're most welcome brah!
You dont need to open a dom account in naija.Your will move funds via SWIFT at prevailing rate on date of transfer

cychristaa:
Thanks for taking the time to confirm. It's a naira account I have though, but I guess I'll have to sort it all out with my bank if I have to open a dom account or not. I have emailed nbc about the whole USD account thing also. Although I'm quite sure it's me that's just worrying my self. My money no go hang for air abeg

P. S you guys are the best @woodcrestmayor @opeyemmmy @dfanz

Una still dey see snow?

Lmaooooooo

sleekysoft:
Goodmorning from Newfoundland

You will and you can choose to do a lump sum change when you get in and save the rest. Who says you can't get a job in 1month? You don't have to spend all your savings. Your POF can be a good way to start a solid savings/investing portfolio in canada.

Experts at the start of the year also predicted that markets might take a dip this year and cash will remain king as always.

cychristaa:
Thanks alot. One last question please. If I open a USD chequing account and send USD, won't they still have to convert to CAD each time I want to use it?

Flutterwave is reputable but i suggest you do a rate comparison. CAD has been over recent months down against the dollar so you just might be better off sending in USD then convert cos USD>CAD. If you decide to go with wiring USD, get them to open you a basic USD account.

cychristaa:
Thanks alot for your replies. From the information I was given about the account, I don't think it's a specific type of account yet (please see attached pic). So can I just send the money now and deal with the rest when I get there ?
Also, due to bank costs and the fact that I'm not sure if bank can transfer directly to CAD, I was thinking of using rave by flutterwave to transfer instead but I'm a little scared. I've used them for some small transactions but I've also seen some bad reviews about them. What are your thoughts please?

Naija banks regard any currency other than GBP, uSD and Euro as 3rd currencies and usually don't do movements in those currencies. I'll suggest you ask you bank if they can move CAad without converting to UsD. If they cant, get back to Rbc and ask them to open you a high interest E-savings USD account.

cychristaa:
Hi guys, I opened a newcomers account with nbc from Nigeria. I have been given my account details and everything, though I still have to go to the bank personally when I arrive. I'm planning on doing a wire transfer from my nigerian account soon. I just want to know if anyone has done such. If so, are there any drawbacks?

Also, I should be able to do a wire transfer from my (naira) Nigerian bank to my Canadian bank (CAD) right?

Will really appreciate it if someone with such experience could help me out. If there are also better suggestions on how I can send/carry the money, please let me know. Thanks!

Loool

CIBC cards are free for newcomers for one year.

Premium usually have income thresholds tied to them;
minimum 60k annual for single applicant and 120 household.

If you're the travelling type, save yourself stress and headache by getting a premium card...the benefits far outweigh the cost.

hayor2014:


Why pay $120 dollars when i can simply call the bank's customer care and have a card that does not have any charges sent to me and my $120 dollars will be immediately reversed.
I saw the charge barely 4 days ago and i immediately called CIBC, ow can JJC like me that is job searching be paying 120 dollars.
That money will buy me 3 pairs of sneakers during sales/clearance season.

All these listed advantages are useless to me

Hello everyone...it's your favourite "Hornline" banker *flaps flippers*

Just a quick tip for the everyone here...some don't qualify yet but with time, most will.

My tip today is about premium credit cards. When you start paying $120 and above in annual fees for credit cards, know full well that you have a premium credit card in your hands and it's a bargain amount in card fees when you consider everything it covers. A lot of people don't read the certificate of insurance that comes with the cards and I really don't blame them. It is 40 freaking pages for the most part and it's not fun to read.
Here are some tips;(I will speak for RBC cards but it should be similar across the industry)
1.) Baggage loss, flight interruptions/cancelation are covered.
2.) Health insurance is covered for 15 days if you're less than 65 yrs.(find out if your destination is covered before departure and if you'll be away for longer, you'll need to purchase additional insurance)
3.)Car rental insurance is covered.
4.)Extended warranty on goods and 90days theft/damage protection( ALL RBC credit cards have this)
5.) Up to $2,500 loss protection if someone breaks into your hotel room and makes away with your stuff.

I no fit summarize the thing but the kókó is that y'all should maximize the benefits since y'all pay that much yearly for your cards. Insurance is complex and y'all know what I'm talking about. For example, for you to even have a chance claiming ANY of the above, your purchases ( air tickets, hotel accommodation, etc)MUST be put on the credit card. To claim theft in hotel room, it MUST be the hotel you paid for with your credit card and checked into. *Sigh*
If you go bash rented Lotus, Benz, Ferrari or some other luxury brand, insurance go just dey look you

Take your time to study the certificate before your trips so you don't enter one chance.

Journey mercies to our brothers and sisters coming in and speedy positive response from Accra for the expectant ones...*inserts angel smiley*

Enjoy the summer because another winter is just around the corner. Me I started counting summer since March...+2 months for me

See y'all later *peace sign*

Omo, forget the seat o! Be ready to pay top dollar if you want vantage view. Early bird ticket na the way for affordable ticket...you sabi the thing .

No worry, I go rock for two people for wizzy own I don secure 4pm closing from work that day

Fusion23:


loool that snoop Dogg I bought the ticket since December sef so it was cheap ..but not the best of seat ..but still made sense..
not likely going for Wizzy.... I have an appointment that evening...but that one too starts from 70$ gate fee....

I full ground my chairman. That smoking thing ehn...I still dey find way to avoid passive smoking. I bin no get money for Snoop ticket jare
Na to open akant dey save $20-30 per paycheck to fund these shows o!


Wizzy is this friday sha

Fusion23:


lool was up..you live in Edmonton..was also at the snoop dogg concert at rodgers place...same thing..few blacks ..lots of smoking and vaping....me i dont even smoke so wasnt worried.......made sense die..snoop dogg, bone thugs n harmony.. great performance

Snow don go too o!
*Flaps flippers*

Downtown Edmonton

I had my first hockey experience yesterday; Go Oilers!!!
A colleague of mine in the office got free tickets
I only saw 3 black people inside Rogers Place yesterday and there were at least 10k people in there

Omo mehn, these oyinbo pple dey drink beer.Kilode!?
The girl beside me said she was on the 6th cup and she asked why I wasn't drinking. I tell am say me no dey drink beer. She come say na Vodka and some mix dey her cup. She gimme say make I sip and e make sense . If to say na Friday night be yesterday, I for no go house o! She ended up getting two more cups

Me and my guy roll enter casino...e deal $20 me dey make the calls. We double the money come ball out .

This summer ehn...Na outside I go dey sleep

Bros...sorry for the late reply. I actually didn't see the mention. Oil jobs are reducing by the day and people are going back to school to do something that make them retain relevance at their work places. I can't speak for the job experience you have tho.Maybe some of the other seniors can help guide you on that.

LOSKYXANDER:

Wow thanks for sharing your detailed story!!! I am a geologist, I just finished NYSC. I'm thinking of writing IELTS exam very soon so I can start my express entry application. The only experience I have is my 6 months undergraduate IT experience in an oil company and my NYSC work experience. Do you think this is enough to get me to Canada under express entry? And I heard job availability is reducing drastically in the oil sector in Alberta, does it mean it will be difficult to get a job as a geologist in the oil industry in Alberta? Pls reply. Thx

For sure

Mimi1999:


Chai
Thanks sha
Shebi you survive? Me sad will survive

El oh el

You must chop your first winter "carless".
You can not drive until you pass a road test after one year. You can start studying for your class 7 learners so that you can take the test as soon as you land.
You should be driving next year May

Send a pM if you want the study material...Alberta o!

Mimi1999:
Good day people.
So for people that never got a driver's license in Nigeria, what is the procedure like to start driving in Canada? Should I just go ahead and get one done since I am landing in May?
Will I be able to just take the driving test and how soon Will it be possible to start driving?
I am looking to getting a car in winter.
Thank you

Nice area o!

MummyJaygirls:
Good morning all,

Spacious 2 bedroom and one bath for rent at 999.99 monthly, Available from April 1st. Water, heat, Telus and Parking included. Location--Saddleback Road NW. Edmonton. Near Century Park

This located in the South of Edmonton.

Pls PM if interested.

Apologies... I'll do a reply on my way home today.

WCM...MCM

ArabianRose:
Hi WCM, i am still waiting for your response ooooooooooooooo thanks

Edmonton awaits you

Work towards summer landing of convenient. People are more willing to show you around places you need to touch as newcomer. When it's cold, people only wanna go to work and return to their beds

Yuyukoko:
Can't wait! Edmonton is the destination...

Alberta get beautiful natural attractions sha


In other news...I aced my account opening mastery today. Manager who observed said she had no doubts it was gonna be a formality.

New to Edmonton? I'm your plug for your banking needs

Blackbuddy:
Hi guys, winter will soon be over in a matter of weeks but let's enjoy the views while they last. Spring knocking...