On the surface, I look like a shopaholic. I overspend on handbags, constantly invest in depreciating assets (ahem, my new Lexus), and collect Disney Pixar Cars. (See that? I’ve stopped pretending they’re for my boys.) So, at first glance, you may shake your head and think, she’s bad with money.
Not true. In the 20 years I’ve had my Visa Card, I’ve never paid a cent of interest. I’ve maxed out my RRSPs for the last few years. And I have a hefty rainy day fund – my trusted Tax Free Savings Account (TFSA). It’s like my best friend.
Wondering if a TFSA is right for you? I daresay it’s right for everyone! Unlike other types of savings, you’re not taxed on the income you earn. It’s a great way to save for your short or long-term goals, because it lets your savings grow – tax-free.
Want to learn more? Join the @TD_Canada #StartSaving Twitter Chat on Friday, May 22nd at 1:00pm EDT. Co-hosted by @LindaMacKay_TD, Senior Vice-President of Retail Savings and Investing at TD, we’ll take you through how easy it is to start saving. Whether you’re putting money aside for a down payment on a house, saving for a major purchase like a car or a vacation, building your rainy day fund or making sure you have enough for a comfortable retirement, a TFSA can help. Of course, what would a chat be without prizes? To help you #StartSaving, we’ll be giving way $500 in cash prizes! I’m hoping it’s the perfect motivation for you to open, or transfer the money to, a TSFA. No RSVP required; see you on Friday afternoon!Keep Reading