Savings Account Guide 2024

Mohamed Konate

Mohamed Konate is a personal finance expert, blogger, and marketing consultant based out of Toronto. He is a former financial services professional who worked for many years at major Canadian financial institutions where he managed the marketing strategy around various financial products ranging from credit cards to lines of credit. Mohamed is passionate about personal finance and holds a Bachelor in Business Administration from the University of Quebec (Montreal) and a Master in International Business from the University of Sherbrooke (Quebec).He is also the author of the Canadian Credit Card Guidebook. Read his full author bio

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Published by Mohamed Konate | Updated Jan 11, 2024

Savings Account Guide 2024

Reading Time: 6 Min Savings Account Guide: What You Need to Know Learn the basics of savings accounts and how they can help you reach your short-term financial goals. What is a Savings Account? A savings account is a bank account that pays interest on your deposits. They’re available through the Big 5 banks and online-only self-serve banks.… Continue reading

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Published by Mohamed Konate | Updated Jan 11, 2024

TFSA Withdrawals Rules

Reading Time: 6 Min A TFSA, or tax-free savings account, is one of the most powerful saving and investing tools available to Canadians. At some point, you may need to access the money within your TFSA for a home down payment, tuition, emergency or virtually any other reason. Thankfully, making a withdrawal from a TFSA is quite simple, but… Continue reading

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Published by Mohamed Konate | Updated Jan 11, 2024

RRSP Withdrawals Rules

Reading Time: 6 Min RRSP Withdrawals Rules In 1957, the Government of Canada introduced RRSPs to Canadians as a way to motivate them to save for retirement. Today, RRSPs continue to be one of the most powerful retirement savings tools available to Canadians. In general, withdrawing from an RRSP should be avoided because of all the severe consequences. However,… Continue reading

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Published by Mohamed Konate | Updated Jan 11, 2024

TFSA Contribution Limit 2024

Reading Time: 5 Min TFSA, short for tax free savings account, is a savings and investment tool introduced to Canadians in 2009. A TFSA is one of the most powerful financial tools available to Canadians because all investment income is tax free. However, before you begin to save and invest, there are some very important contribution rules to understand.… Continue reading

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Published by Mohamed Konate | Updated Dec 25, 2023

Best TFSA Savings Accounts in Canada in 2024

Reading Time: 8 Min The Best Tax Free Savings Accounts (TFSA) in Canada for 2024 At some point in time, someone probably told you to save your money. Actually… scratch that, someone has definitely told you to save! Although, what people may not have told you is what to do with those savings exactly. Setting money aside is a… Continue reading

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Published by Mohamed Konate | Updated Mar 20, 2024

Mortgage Payment Frequency Explained

Reading Time: 2 Min Mortgage Payment Frequency When taking out a mortgage, you have the option of choosing the payment frequency that suits you the most. Canadians have five different mortgage payment frequencies to choose from: monthly, bi-weekly, accelerated bi-weekly, weekly and accelerated weekly. While monthly payments are the most common, you can opt for more frequent payments… Continue reading

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