Like most families, finances seem to never be too far from our minds. There’s always the everyday expenses to think of as well as the unexpected.
For us, there are always expenses on the farm. Whether it be repairs on equipment or needing to purchase new equipment to replace the ones that we’ve been limping along with, there is always something that needs attention. We’ve been trying to finish renovations on our farm house, but it just seems like it’s taking forever to get the work finished. It’s been six years, to be exact (but, who’s counting?).
If you’re dreaming about taking the family on a much needed vacation or finally getting those home renovations finished, Tangerine Bank is here to help. Whatever it is that you are saving money for, Tangerine Bank can make this process so much easier for you.
For just over half a decade Tangerine Bank has been offering clients the TFSA Kick Start Account with the intent to help Canadians that have reached their TFSA contribution limit to save more.
Starting January 1st, as much as $10K from the TFSA Kick Start Savings Account will be transferred to your Tax-Free Investment Savings Account – where it will continue to increase tax free.
If you’re unsure what a TFSA (Tax-Free Savings Account) is or how to use the TFSA, Tangerine answers some FAQs here. Tangerine conducted a survey and the results showed that 72% of Canadians don’t know “what’s up” when it comes to TFSA.
I recently learned how little it takes to save with Tangerine.
If you have not started a TFSA account yet or are close to reaching your limit, you may be interested in learning more from Tangerine about the TFSA Kick Start Savings Account.
The great benefit is that it is literally TAX FREE! Whether you are taking money from in or out of the account you will not be taxed on it. You can also earn double interest between May 1 and December 31, earn tax-free interest starting in January 2016 up to $10, 000. There is also a New Client Offer – 2.1% (effective mid-May).
What are you saving for? Have you started a TFSA account yet?
You may also be interested in the following:
- What you need to know about TFSA over-contribution
- Can a TFSA be used as an emergency fund?
- TFSA accounts
Disclosure – This is a sponsored post, however all thoughts and opinions expressed on this blog are honest and my own.
I really want to get a TFSA with Tangerine. I was with them when they were ING Direct. 🙂
Great summary! I’ve heard so many good things about Tangerine. from my friends and coworkers.
Thanks for the summary and run down of TFSAs! That infographic was really helpful too.