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Understanding Your TFSA Contribution Room in 2026

A Tax‑Free Savings Account (TFSA) is one of Canada’s most flexible and powerful savings tools, but figuring out your exact contribution room can feel like solving a puzzle. A clear breakdown makes it much easier. How TFSA Contribution Room Works Your available room is made up of three parts: Annual TFSA limit for the current year Unused contribution room from previous years Withdrawals from previous years (added back the following January) For 2026, the annual TFSA limit is $7,000 . Step‑by‑Step: How to Calculate Your Room Use this simple formula: [ \text{TFSA Room} = \text{Unused Room from Prior Years} + \text{Current Year Limit} + \text{Withdrawals from Last Year} ] A quick example: Unused room from past years: $18,000 2026 limit: $7,000 Withdrawals made in 2025: $4,000 [ \text{Total Room} = 18,000 + 7,000 + 4,000 = 29,000 ] That means you could contribute $29,000 in 2026 without penalty. A Few Helpful Notes Over‑contributions lead to penalties, so it’s worth...
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14 Easy Tips to Always Find Cheap Flights in 2024

 

For most travelers, airfare is the most significant expense when planning a trip. Whether you’re a budget-conscious solo traveler or a family looking to vacation abroad, finding a cheap flight deal can make or break your travel plans. Fear not! I’ve got you covered with these tried-and-true tips to help you score affordable flights:

  1. Ignore the Myths: There’s no magic day of the week to buy airfare, and browsing incognito won’t necessarily get you a better deal. Airlines use sophisticated algorithms to set prices, so those old “tricks” don’t work anymore. 

  2. Be Flexible with Your Travel Dates and Times: If you can adjust your schedule, you’ll have more options. Midweek flights are often cheaper, and red-eye flights can save you money. Play around with different departure and return dates to find the sweet spot.

  3. Be Flexible with Your Destinations: Sometimes the best deals surprise you. Use tools like Google Flights or Skyscanner to explore various destinations from your home city. You might discover an unexpected gem!

  4. Keep an Eye on Special Deals: Airlines frequently release promotions, flash sales, and mistake fares. Sign up for fare alerts and follow airlines on social media to stay in the loop.

  5. Fly Budget Carriers: Low-cost airlines offer competitive prices. Be open to flying with carriers like Southwest, Ryanair, or AirAsia. Just pack light, as they often charge for extras.

  6. Don’t Always Fly Direct: Connecting flights can be cheaper. Plus, you get to explore an extra city during your layover. Win-win!

  7. Remember Not All Search Engines Are Equal: While I start my flight searches with Skyscanner, it’s essential to check multiple platforms. Google Flights, Kayak, and Momondo are also great options.

  8. Take Advantage of Student Discounts: If you’re a student, use your status to score discounts. Websites like StudentUniverse offer exclusive deals.

  9. Mix and Match Airlines: Sometimes booking separate one-way tickets with different airlines can save you money. Compare prices for round-trip versus one-way options.

  10. Use Points and Miles: If you’re part of a frequent flyer program, redeem your points for flights. Credit card rewards can also come in handy.

  11. Search Ticket Prices for Individual Travelers: Some booking sites show higher prices for group bookings. Search for tickets as if you’re traveling alone to find better rates.

  12. Look for Tickets in Other Currencies: Occasionally, booking in a different currency can lead to cost savings. Check prices in euros, pounds, or other currencies.

  13. Book Early (But Not Too Early): Generally, booking 6-8 weeks in advance yields better prices. However, don’t book too far ahead, as prices can fluctuate.

  14. Book Hidden City Fares: Sometimes booking a flight with a layover in your desired destination (the “hidden city”) is cheaper than a direct flight. Just be aware of the risks and limitations.


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