Introduction
It is the first time I have to push myself to learn how to help a new immigrant to adapt and learn Canada in three days. My nephew landed in May 15, 2019 as a new immigrant and left on May 19, 2019 and went back to China.
Case study
I took three days to learn how to help the young Chinese to do all the paper work as a new immigrant. And also I had chance to put together some analysis and figured out how to help him. I am the sponsor, and also I need to learn how to help my nephew and give out my advice on a few areas.
I chose to show how to be frugal and it is hard for me to practice. I made mistakes and then I found the issue, and I asked the chance to fix the problem.
Let me document my experience in the following.
Corrections
After I opened the account for my nephew with my deposit of $3,000 Canadian dollars to his new account, in half an hour, I heard that he talked about purchase of a IPhone in Canada top brand latest version. I noticed that I made mistake. He does not consider what is his need and what is his want. He does not care about anything in Canada.
I have to figure out ways to take fund back. If there is need to pay rent or tuition to adapt Canada, then I should consider to support. Otherwise, I am supporting an impulsive purchaser.
I spent $1859.25 Canadian dollars to cover his airline round trip, three day rents, and other expenses. It is $600 dollar for a day. That is too expensive. My nephew argued that it worth for him, $1,800 dollar for three days. He actually took money from me and his parent both. He is a not-grown-up financially. He does not count the cost for me to file the whole application for his permanent resident.
Actionable Items
I also have to work on my decision making process. I should carefully calculate the expense and make sure that I calculate the risk as well. I should not come out $3,000 dollars from no where. I should add $500 dollars and then go up for another $500 for specific reasons.
I also did write a blog to document that I should have been able to save the airport parking fee waiting outside the airport instead. Here is the blog.
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