Over the last few years, with a lot of work, I’ve managed to build up my savings quite a bit. Initially, I kept all the money in a basic savings account at my regular bank. I didn’t even realize how foolish that was until a friend suggested I look into banks that paid a higher interest rate on savings accounts. I found Tangerine and opened a Tangerine Savings Account. When I saw how much interest I earned on my money the next month, I was shocked!
A few months later, I decided to move some of my money into a Tangerine Tax-Free Savings Account, so that I wouldn’t have to pay taxes on the interest I was earning. Since then I’ve built up both accounts and when the end of the year rolls around, it’s so nice to not have to pay anything extra for my savings.
If you haven’t started a TFSA yet, you’re not alone. In fact, a recent survey by Tangerine found that up to 74% of Canadians don’t fully understand TFSA accounts. But there’s no better time to look into starting one because Tangerine has a very special promotion that can help you maximize your savings even more!