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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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Getting Kids Ready for Back to School: Tips for a Smooth Transition


As summer winds down, the excitement and anticipation of a new school year begin to build. Preparing your kids for back to school can be a fun and rewarding experience with a bit of planning and organization. Here are some tips to help ensure a smooth transition:

1. Establish a Routine

Start adjusting your child’s sleep schedule a week or two before school begins. Gradually move bedtime earlier and wake them up closer to the time they’ll need to get up for school. This helps their bodies adjust and makes the first week back less of a shock.

2. Organize School Supplies

Make a list of necessary school supplies and involve your child in the shopping process. Letting them choose their notebooks, pens, and backpacks can make them more excited about the new school year. Don’t forget to label everything with their name!

3. Create a Study Space

Set up a dedicated, clutter-free area for homework and studying. Ensure it’s well-lit and stocked with all the supplies they might need. Having a specific spot for schoolwork can help kids focus and develop good study habits.

4. Review and Refresh

Spend some time reviewing last year’s material to refresh their memory. This can be done through fun activities like educational games or reading together. It helps ease them back into the learning mindset.

5. Discuss Expectations

Talk to your child about what to expect in the new school year. Discuss any changes, such as a new teacher or classroom, and address any concerns they might have. Setting clear expectations can reduce anxiety and build confidence.

6. Plan Healthy Meals

Good nutrition is crucial for learning and concentration. Plan balanced breakfasts and pack nutritious lunches. Involve your child in meal planning and preparation to teach them about healthy eating habits.

7. Encourage a Positive Attitude

Help your child approach the new school year with a positive mindset. Encourage them to set goals and talk about the exciting opportunities ahead. Celebrate their achievements, no matter how small, to build their confidence.

8. Stay Involved

Stay engaged with your child’s education by attending school events, meeting their teachers, and keeping track of their progress. Your involvement shows that you value their education and are there to support them.

By following these tips, you can help your child feel prepared and excited for the new school year. Remember, a positive and organized start can set the tone for a successful and enjoyable year ahead. 

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