Personal Finance · May 13, 2026
The TFSA mistake costing Canadians thousands
Treating your TFSA like a savings account is the most expensive habit in Canadian personal finance. Here's the fix.
A TFSA is a tax shelter, not a savings account. Holding cash inside it forfeits its primary advantage: tax-free growth on investment returns. Inside your TFSA you should hold growth-oriented assets — equity ETFs, dividend stocks, or balanced portfolios — exactly the assets where tax-free compounding matters most. Cash savings belong in a high-interest account outside of registered space.