Tax Free Savings Account (TFSA) limits explained

I often receive questions from readers and I answer these in my "Money Questions? Answered!" video series. This week I answer a question about the annual and lifetime contribution limits of a Tax Free Savings Account or TFSA. Also, keep in mind that the financial calendar for TFSA contributions starts on 1 March, not 1 January.

Subscribe to my newsletter on this link:

#financialeducation #tfsa #taxfree #savings #moneyquestions

[ZoeYT-dot]

I would really like some specific advice on which TFSA to invest in

[hugoswanepoel]

If you are able to, then you can deposit the R36000 as a lump sum as soon as possible, right?
Then you can start earning that monthly interest from the the largest possible amount.
There's no rule that says it has to be monthly contributions, so if you do a once-off deposit of R36000 in January, then the rest of the year you don't contribute anything, but still earn interest?