Survey shows newcomers lose financial confidence after coming to Canada [Video]

Packing up and moving to a new country is no easy task, and for many newcomers, the biggest learning curve is Canada’s financial system.

A recent survey by Interac Corp. found that while 61 per cent of newcomers felt financially confident upon their arrival, this confidence dropped by 31 per cent just one month after settling in.

Additionally, 80 per cent of those surveyed reported facing significant financial barriers.

Saskatoon offers a program through World System Builder  — a financial literacy campaign dedicated to helping newcomers find their financial footing.

Global’s Mackenzie Mazankowski provides more details in the video above.