Financial Tips

March 5, 2017 Athlete Session

Presented by RBC Royal Bank
Rob Hotel, Community Manager Winnipeg East
Lyndsey Marshall, Assistant Branch Manager Regent & Rougeau


Click here to access a PDF of the presentation.


When looking at creating a budget, savings plan or applying for a loan, always keep your goals in mind and know you can meet with a Financial Advisor to help you through the process.

Lyndsey Marshall |
Rob Hotel |


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  • Overdraft protection
    • Is like a small loan, designed to be temporary, with an extremely high interest rate
    • This protects you should your spending put your account in the negative
  • How you manage your money, and bank account, can affect your credit score
    • Even before you get your first credit card or loan
  • Online banking is safer than cards
    • RBC accounts are insured – should your online account get hacked (someone accesses it without your password), you will be fully reimbursed
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  • Use of a credit card is the easiest way to build credit, however it is also the easiest way to destroy credit
    • Use your credit card at least once a month, paying it off on time, to build your credit
    • Outstanding payments on credit cards hurt your credit score, regardless of the size
      • ex $10 outstanding is just as bad as $1,000 outstanding
  • Your initial credit card limit is typically set based on your life stage and income/employment
    • You must be 18 + yrs to get a credit card
  • TIP – use your credit card like you would your bank card
    • Avoid spending more than you can pay off
    • Similar to overdraft protection (see point under Did you know?) credit cards are designed for short term and have high interest rates
  • All RBC credit cards have fraud protection and purchase security
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  • Paperless statements – stay in your account for seven years
  • Complimentary credit score check, via TransUnion
    • If you get your credit score checked at a place of business, not only will it cost you money, it will decrease your score
  • RBC Georgia – banking in the USA