Welcome to Canada Pinoys

In the Philippines, there is usually no finance to manage. For those whose financial lives have changed for the better in Canada, managing money presents a new challenge. Below is a gist of the more important aspects of managing your finances in Canada.

RRSP is a kind of savings that you use for your retirement. It is encouraged by the Canadian government because the government does not want you to be its liability in your old age.

Whatever you keep aside for your RRSP is deducted from your taxable income for the year. The limit of your RRSP savings for the year is 18% of your income (maximum $13,500). If you do not maximize your RRSP savings for the year, you can make up for it in the future.

One strategy for managing your RRSP is to put more in it as your income grows. This way, you end up in a lower income bracket. When you withdraw your RRSP savings after twenty years or so, it becomes taxable income. However, since you will be retired and probably will not have any other income, you will be in a low, if not the lowest tax bracket. More importantly, your savings would have grown substantially by then because of the power of compound interest (your interest earning interest).

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Looking for work in Canada can be a challenge, especially if you are a newcomer. Job seekers, especially those with non-specialized skills (eg. doctors, nurses, and accountants) compete with hundreds of other applicants. The best way to get employed is through networking. Knowing somebody employed for a company that you want to get into is always helpful. Start with your network of friends and family and let them know you are looking for a job. Then gradually expand to other groups. More often, it is WHO you know (not WHAT you know) that will open the door. Roughly only 20% of available jobs get advertised. While you are developing your network, use the sites below to help you with your job hunting.

The other thing to remember is your skills get you the interview, but it is the "fit" that gets you the job offer after the interview. Not only should you be perceived as a hardworking and competent worker, but one with the personality to blend with your co-workers (especially your boss).

Good luck!

BASIC SITES - This is where you can begin your job search.

HRDC Job Bank - Canada - lots of listings here by small companies, if you don't mind some of the pay that borders on exploitation.

Workopolis - lots of good listings, many by big companies. You can also post your resume.

Monster - features almost same as Workopolis.

Job Shark

Canada Wide Employment Finder

Canadian Career Page

Canadian Federal Government Jobs

AGENCY SITES

They'll get you the job based on the employers they represent. They are motivated to fill the position of their customer (the employer) with the best person to fill the job. Employment agencies usually get a one-time fee (in the form of a commission) for a permanent job placement. If the job opening is for temporary work, the agency represents the candidate (that's you) as a contractor. In this situation, the agency becomes the employer, and the their customer (the company who needs temporary help) pays the agency an hourly rate which is higher than what the contractor receives. Agencies can be your friend, but be careful of agencies that solicit fees or try and guarantee you a placement.

OTHER SOURCES

Employment News

Hot Jobs

On-site Source - experience for the new graduate

Canadian Centre/Occupational Health and Safety

Worksearch - evaluate your work options

Job Search Workshop - for those humble enough to admit that they need help to make better resumes and impressive interviews.

Microskills Job Connect - a multi-cultural, non-profit, community-based organization committed to assisting the unemployed, with priority to women, youth, racial minorities and immigrants.

Possibilities - an Employment Resource Centre for Torontonians

The Career Foundation - another employment resource for those from the Greater Toronto Area.

HELP FOR NEWCOMERS

COSTI Settlement.org - Welcome to Ontario!

Skills for Change

World Education Services/ Foreign Credentials Assessment - makes sure that your international academic credentials are recognized.

FOR SENIOR WORKERS

One of the great advantages in Canada is that you can still be employed even in your senior years. It is illegal for employers to discriminate based on a person's age.

Fifty Plus

Senior Link

Senior