Well I would be dancing like this! I am self employed so always owe .
Park the cheque into a saving account, not the black hole affectionately known as joint checking .
• RRSP contribution would get you another tax refund next year
• TFSA earns more tax-free investment income.
• Repaying credit card especially high interest ones
• Slim down a line of credit, mortgage or student loan
• Donating to a charity of choice and get a tax receipt
• Making a Registered Education Savings Plan (RESP) contribution get 20 to 30% grant and helps pay for the rising costs of education.
• Registered Disability Savings Plan (RDSP) for a special needs family member often gets dollar for dollar matching
• Leaving it in your saving account but shop for interest rates ( ask me how to get 2% plus)
• Paying an outstanding bill
•Building the emergency account
• Invest in your business
• Lending it at the prescribed rate to the low tax bracket spouse.
• Help an adult child stop paying rent and own a home
• Add to your retirement planning
• Experiences make memories plan a family trip or event
• Renovate home to save energy or increase value
• Investing in yourself , improving your career or education.
• Save it for the next tax bill!
• Start a Christmas gift fund.
20 ..........not so sensible ............take your sweet heart out for coffee and desert . people are more important than money
Park the cheque into a saving account, not the black hole affectionately known as joint checking .
• RRSP contribution would get you another tax refund next year
• TFSA earns more tax-free investment income.
• Repaying credit card especially high interest ones
• Slim down a line of credit, mortgage or student loan
• Donating to a charity of choice and get a tax receipt
• Making a Registered Education Savings Plan (RESP) contribution get 20 to 30% grant and helps pay for the rising costs of education.
• Registered Disability Savings Plan (RDSP) for a special needs family member often gets dollar for dollar matching
• Leaving it in your saving account but shop for interest rates ( ask me how to get 2% plus)
• Paying an outstanding bill
•Building the emergency account
• Invest in your business
• Lending it at the prescribed rate to the low tax bracket spouse.
• Help an adult child stop paying rent and own a home
• Add to your retirement planning
• Experiences make memories plan a family trip or event
• Renovate home to save energy or increase value
• Investing in yourself , improving your career or education.
• Save it for the next tax bill!
• Start a Christmas gift fund.
20 ..........not so sensible ............take your sweet heart out for coffee and desert . people are more important than money
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