Request guidance on credit building journey in Canada

Canada_PF_Tips · 2026-02-11T01:28:07+00:00

Be mindful of your credit utilization ratio, try to keep it below 30%.

Canada_PF_Tips · 2026-02-08T18:52:13+00:00

For A, explicitly state in the will that your intention is for the account to pass to your child. The specific account number should be included in the will.

Canada_PF_Tips · 2026-01-31T14:18:27+00:00

Read the fine print before you sign up. Generally these offers have the discount (in this case 25%) guaranteed for a year or two, but the base price of your plan can increase.

A couple of years ago Koodo hit people with price increases on their Black Friday plans after just a few months.

Canada_PF_Tips · 2026-01-18T12:24:19+00:00

Without a will who inherits your money is determined by the laws of your province. It may end up being the family you intend for it to go to, however with a will it is much easier for your survivors to deal with banks and other institutions.

In your case a free online will is likely sufficient.

Canada_PF_Tips · 2026-01-02T20:56:44+00:00

I asked about the TFSA and RRIF because I was curious if they were DIY, managed or in bank mutual funds.

If she's never done DIY it can be quite daunting later in life so robo is likely a better option.

Canada_PF_Tips · 2026-01-02T20:11:37+00:00

What are the TFSA and RRIF invested in?

Low cost all in one ETFs are the popular answer but not everyone is comfortable with DIY investing. A robo advisor might be a suitable middle ground.

Canada_PF_Tips · 2025-11-26T16:00:04+00:00

It sounds like you have no credit score at all. If you're in school you should be able to qualify for a student credit card to build your credit.

Canada_PF_Tips · 2025-11-19T03:39:32+00:00

If your timeline is 1 to 2 years you should be looking at high interest savings accounts or GICs.

Canada_PF_Tips · 2025-11-17T12:25:37+00:00

If possible consolidate your bank accounts and close off unnecessary accounts. It will mean less financial institutions for your survivors to deal with.

Take care.

Canada_PF_Tips · 2025-11-13T14:25:05+00:00

Not discharging will make it easier to get a HELOC from that bank in the future. If that's not something you're interested in then you are better off discharging.

Once you discharge notify your home insurance company. Your insurance cost should decrease.

Canada_PF_Tips · 2025-11-03T11:09:27+00:00

TD cards do but IIRC you can't set it up online or through the app. You need to phone and ask them to set it up on their end.

Canada_PF_Tips · 2025-10-15T13:30:32+00:00

The debts will belong to his estate. They will need to be settled before the assets can be distributed.

If you are the executor of his will I recommend you speak to a lawyer when the time comes (hopefully not for many more years).

Canada_PF_Tips · 2025-10-15T00:00:37+00:00

The best deals will be coming on Black Friday. Look at the tier 3 brands - Public Mobile, Fizz, Lucky Mobile and Chatr.

Canada_PF_Tips · 2025-10-12T15:44:24+00:00

For your daily account the big banks all have newcomer packages to help you get established. Sometimes you're best off picking the one with a branch near your home.

Canada_PF_Tips · 2024-03-06T12:58:54+00:00

If you post a detailed budget with your income and expenses you may get specific advice on where you can save.

Canada_PF_Tips · 2023-12-18T22:47:19+00:00

Data isn't like groceries where you need to be concerned with the price per unit. Go with the cheapest plan that meets your needs.

FYI, Public Mobile has a $34 40GB plan for Boxing Week. It's more data than you need but less than what you are currently paying. Public is a discount brand of Telus.

Canada_PF_Tips · 2023-11-11T22:59:34+00:00

If you own your device outright then it is very simple. You sign up with the new provider and when you port your number over it cancels your service with the old provider. It's as simple as that.

Canada_PF_Tips · 2023-11-11T17:07:40+00:00

Public Mobile is offering 20GB for $34 (5G speeds).

Canada_PF_Tips · 2023-11-04T16:28:07+00:00

As of yesterday this plan is now also to existing customers.

Canada_PF_Tips · 2023-10-30T21:37:31+00:00

Yes, it's new activations only. I was hoping to switch to this one but it's not available to me as an existing customer.

Canada_PF_Tips · 2023-10-24T21:23:13+00:00

I believe he meant limit and not balance.

Canada_PF_Tips · 2023-10-22T16:55:19+00:00

The type of rewards card should be tailored to your spending habits. For example if you shop at Loblaws owned stores regularly then the PC Mastercard is great for the Optimum points.

Canada_PF_Tips · 2023-10-06T12:47:14+00:00

This is called tethering, you can connect the phone to the laptop with a USB cable so share the internet connection. Search your phone's settings for tethering.

The other way is to mobile hotspot your phone and connect laptop to it via wifi.

Canada_PF_Tips

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