Hi there,
I am a recent graduate with a job paying $36.5k/year right now. I currently have approx. $5,000 in savings and am able to save about $1,200 or so per month.
In 2-3 years my wife and I would like to have enough for a down deposit for a house. I would like to set up a TFSA to do this, what is the best way to do this and have money available in 2-3 years for this?
My original idea was to open up a ING direct account (for their 90 day 2.5% GIC's) to save for this, and if I have extra to open up another TFSA at scotiabank (where all my banking is done) for somewhat longer term savings (maybe mutual funds?).
Is it even worth it? should I just keep everything at Scotiabank?
I am a recent graduate with a job paying $36.5k/year right now. I currently have approx. $5,000 in savings and am able to save about $1,200 or so per month.
In 2-3 years my wife and I would like to have enough for a down deposit for a house. I would like to set up a TFSA to do this, what is the best way to do this and have money available in 2-3 years for this?
My original idea was to open up a ING direct account (for their 90 day 2.5% GIC's) to save for this, and if I have extra to open up another TFSA at scotiabank (where all my banking is done) for somewhat longer term savings (maybe mutual funds?).
Is it even worth it? should I just keep everything at Scotiabank?