SAVINGS

Tax-Free Savings Account TFSA Definition and Calculation

Tax-Free Savings Account (TFSA) Definition A Tax-Free Savings Account (TFSA) is a type of registered account in Canada that allows individuals to save and invest money without paying taxes on the growth or withdrawals. It was introduced in 2009 by the Canadian government as a way to encourage Canadians to … …

Building an Emergency Fund: Why It’s Important and How to Get Started

The Importance of Having an Emergency Fund An emergency fund is a crucial financial safety net that everyone should have. It is a reserve of money set aside to cover unexpected expenses or financial emergencies. Having an emergency fund provides peace of mind and financial security, allowing you to navigate … …