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Hey there, Happy New Year! Here's a few important personal finance housekeeping that I do at the start of each year that you might want to consider: Contribute and invest using my TFSA account as early as possible. The limit for 2024 is $7,000, you can read up on it here. Contribute and invest using my First Home Savings Account (FHSA) account for a maximum of $8,000.Determine how much I will want to contribute to my RRSPGo over all income and expenses of the previous year, and see what my tax obligations are. Set my monthly budget for the year. Even though I used to own a home in Calgary, I still qualify for an FHSA account because I sold it over four years ago. You can read more about the FHSA rules here and see if you qualify. Not sure what to invest in your TFSA, FHSA, or RRSP? Interest rates are high, so a great option is still those high-interest GICs. I just invested $8,000 into a 5.10% 1-Year GIC at EQ Bank to my FHSA, you can also get this great rate here. Some popular articles published on Wealthawesome.com: 9 Best Contest Websites In Canada: Win Free Stuff30 Best Product Testing Sites In Canada That Will Pay You CashHow To Make Money On YouTube In Canada: 6 Simple Ways INVEST 12 Top AI Companies in Canada That Are Growing RapidlyBest S&P 500 ETFs in Canada: Invest in America40 Best Stocks In Canada: The Ultimate List RETIRE How To Retire In Hawaii From Canada: 6 Steps To A Tropical ParadiseBest Age to Retire in Canada: 55, 65, or Never?How To Retire In Canada With No Money: Is It Possible? DEALS & OFFERS PolicyMe - Quick and Free Term Life insurance Quotes5.10% 1-Year GIC at EQ Bank Regards, |
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