Which Account Should You Use First?
Most Canadian families know they should be saving — but TFSA, RRSP, FHSA, and RESP all have different rules, tax treatments, and ideal use cases. Answer 7 questions and get a clear, personalized priority order based on your actual situation.
How It Works
About your debt, emergency fund, income, home buying plans, kids, and employer benefits. Takes about 2 minutes.
A personalized ranked list — not generic advice. Each priority comes with a plain-English explanation of why it matters for your situation.
The results screen links directly to the right provider for each account type — so you can act on your priority order immediately.
After You Get Your Results
Not sure what to do next? Here’s where to go based on what your priority order showed.
Open a high-interest savings account and automate a monthly transfer. EQ Bank offers one of the best rates in Canada.
Open an EQ Bank account →Wealthsimple makes it easy to open either account in minutes with no fees. Best for most Canadian families starting out.
Open a Wealthsimple account →The FHSA is available through most major banks and Wealthsimple. Read our full guide before opening to understand the rules.
Read the FHSA guide →Embark is Canada’s dedicated RESP provider. The government adds 20% on your first $2,500 per year — free money for your kids’ education.
Open an Embark RESP →