First Home Savings Account (FHSA)
Here is a fantastic savings plan that the government has created. It's a hybrid of an RRSP and a TFSA, for the purpose of home ownership. What is it... here are the details... -As of April 1, 2023, financial institutions have the ability to offer the new First Time Home Buyers Tax Free Savings Account -Under the new plan, prospective first-time home buyers have the ability to save $40,000.00 on a tax-free basis -Similar to a Registered Retirement Savings Plan (RRSP), any contributions will be tax deductible -Withdrawals' from the FHSA to purchase a home are non-taxable, similar to a TFSA -The Plan includes an $8,000.00……
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Graduation
Graduation is such a special time in ones life. The 1st accomplishment for many. A minimum of 12 years of perseverance, determination and hopefully some fun in the mix. For some of the Grads in Red Deer, I have had the pleasure of meeting them, being in their classrooms (or on zoom), doing a presentation on credit. The do's and the don't of applying for credit, of maintaining credit and how to keep a good credit score. Each presentation I give them 3 take a-ways, take a-ways to go home with, to tell their parents about what they should be doing to help……
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