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5 Ways to Optimally Use Your Pay Raise

Wondering how to use a pay raise wisely? This practical and self-aware guide offers six smart ways to manage your extra income. Whether it’s crushing debt, increasing RRSP or RESP contributions, or investing in your health or education, these tips are designed to help you avoid lifestyle creep and build long-term financial stability. Ideal for anyone who wants to enjoy their raise without regretting it later, this guide also includes a bonus tip on how to trade cash for more time the most valuable currency of all.

It's a Wonderful Life

It’s A Wonderful Life (Financially?)

Is there a story of redemption like It’s a Wonderful Life for your finances? That remains to be seen, you’ll need to plan it!

It is in you to give

Black Friday is Here, Advent, and #BestThisWeek

Black Friday is Here, Advent, and #BestThisWeek speaks of the blessed Black Friday and associated sales, but also includes a Fanfare for the Common Man.

Ballet

RRSP to TFSA Grand Jeté

I like to call it a “Grand Jeté”—that elegant leap from an RRSP to a TFSA. It’s not a ballet move in the financial world, but it sure feels like one when executed well. The idea is simple: use your RRSP tax refund as a funding source for your TFSA.

Here’s how it works: You contribute to your RRSP (say $5,000), get a tax refund (maybe around $1,300), and then—gracefully—you “leap” that refund into your TFSA. Assuming you have room in both accounts, it’s a smart way to double down on your savings without stretching your budget.

For me, this is one of the more elegant moves in personal finance. If you’re debt-free and planning for retirement, this strategy lets you leverage the tax-deferral benefits of the RRSP and the tax-free growth of the TFSA—a financial choreography that builds long-term wealth.

Keywords: TFSA, RRSP, tax refund strategy, Canadian personal finance, retirement savings, tax-efficient investing, RRSP to TFSA strategy

Financial Despair

TFSA Retirement Welfare Bums

Remember when the TFSA limit was $10,000 for a while, those were happy times, even when we thought it was for Rich Folk’s benefit.

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