Weekly insights
Small, consistent steps that build stronger money habits.
Each week we share a short note you can read quickly and apply right away, with a focus on what matters most.
Insight of the week
Your TFSA contribution room has been building since you turned 18, whether you've used it or not.
Most students assume they missed out on TFSA room by not opening one earlier. They didn't. The CRA banks your room automatically every January 1st from the year you turn 18, even if you've never had an account. The 2026 annual limit is $7,000, and if you turned 18 in 2024, you're already sitting on $14,000 in lifetime room. Turned 18 in 2023? $21,000. It's been accumulating the whole time.
- - Check your exact number in CRA My Account, your real contribution room is sitting there waiting
- - Withdrawals add room back, but not until January 1 of the following year, re-contribute too soon and you get hit with a 1% monthly penalty
- - If you've never contributed and turned 18 in 2024 or earlier, your cumulative room in 2026 is $21,000