Short answer

In your first year in Canada, budget from what you actually spend: track every account you have in both countries for two or three months, then set limits from those numbers, put fixed bills first and build a cash buffer before anything else. Finman imports statements from the big Canadian banks, connects monobank directly and keeps hryvnia and dollar accounts in their own currencies, so the whole picture fits in one app.

Start free, no card The 6 steps Budget in CAD and UAH

Why the first-year budget is different

The first months after a move break the usual budgeting advice. You do not yet know what a normal month costs, income may start late or change, some money still sits in your home country, and setup costs (a deposit, furniture, a phone plan) arrive once and then never again. A rule like 50/30/20 assumes a stable income and stable bills; in year one it helps more to measure first and set limits second.

The first-year plan in 6 steps

  1. 01
    List every account in both countries. Canadian chequing and savings, a credit card, monobank or another home bank, Wise or Revolut, cash. Each goes into Finman as its own account, in its own currency.
  2. 02
    Bring the history in. Download CSV, OFX or QFX statements from RBC, TD, Scotiabank, BMO, CIBC, Tangerine, Wealthsimple Cash or EQ Bank and import them; no bank password is handed to Finman. monobank connects with a personal token.
  3. 03
    Mark the one-off setup costs. Give deposits, furniture and moving costs their own category, so they do not inflate what you think a normal month costs.
  4. 04
    Set budgets from two or three real months. Start with fixed bills (rent, phone, transit, insurance), then groceries and the rest. Budgets warn you at 80% of a limit by default.
  5. 05
    Build a buffer as a goal. A savings goal shows how much is saved and how much is left; see how to build an emergency fund for how big it should be.
  6. 06
    Review once a month in one currency. Pick CAD as the base currency once your income is Canadian; net worth and reports then show both countries in dollars.
Line drawing of a glass jar, two envelopes and a notebook on a chart-water background
Fixed bills, a buffer and a notebook of real numbers: the first-year kit.

Categories that matter in year one

CategoryWhy it gets its own line
Setup (one-off)Keeps deposits and furniture out of your normal monthly average.
HousingUsually the largest fixed bill; see how much to spend on rent.
Family supportMoney sent home is a real monthly expense; a budget makes it planned.
FeesAccount, card conversion and transfer fees add up quietly across two countries.
SubscriptionsOld services from home and new Canadian ones overlap for a while.

Imported rows are sorted by merchant code where the bank provides one (monobank does) and by keywords in the description, for Canadian merchants (Loblaws, Tim Hortons, Interac e-Transfer) and Ukrainian ones alike. Your own rules sort whatever is left in Other.

Start your first Canadian budget

Import a Canadian bank file, connect monobank, see both countries in one total. Free during the open beta, no card.

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What an app will not do for you

  1. 01
    It does not build a credit history. That comes from Canadian credit products used and repaid on time; a budget only helps you pay on time.
  2. 02
    It is not tax or immigration advice. Income, savings and accounts in two countries can have tax consequences; ask a professional.
  3. 03
    Converted totals are estimates. They use stored rates for planning and are not a quote for moving money.
  4. 04
    Plans after the beta. Everything is free during the open beta. After it, the Free plan stays at $0 with accounts and transactions, budgets and goals, and CSV import, and Pro ($9 a month) adds the AI finance assistant, bank sync and anomaly detection. See pricing.

Finman is built in Ottawa, and its interface is in English, Ukrainian and Russian. For the two-currency setup in detail, see budgeting in CAD and UAH; for Canadian bank imports, see Finman in Canada.

Frequently asked questions

How should a newcomer to Canada start a budget?

Track every account you have in both countries for two or three months, then set limits from those real numbers, starting with fixed bills, and build a cash buffer as a savings goal.

Can I import statements from Canadian banks?

Yes. Finman imports CSV, OFX or QFX statement files from RBC, TD, Scotiabank, BMO, CIBC, Tangerine, Wealthsimple Cash and EQ Bank, plus Revolut and Wise.

Can I keep my Ukrainian bank in the same app?

Yes. monobank connects directly with a read-only personal token, and its accounts stay in their own currency next to your Canadian ones.

Should I use the 50/30/20 rule in my first year?

It assumes a stable income and stable bills. In the first months it works better to measure what you spend first and set limits after two or three months.

Will a budgeting app help my Canadian credit history?

Not directly. Credit history comes from Canadian credit products used and repaid on time; a budget helps you have the money ready when payments are due.

Is Finman free for newcomers?

Everything is free during the open beta. After it, the Free plan stays at $0 with accounts, transactions, budgets, goals and CSV import.

Your first year, in real numbers

Both countries' accounts in one app, budgets from real months. Free during the open beta, no card.

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Related reading: Budget in CAD and UAH · Monobank budget app · How to make a budget · Build an emergency fund · Finman in Canada