MOST PEOPLE DON'T KNOW THE PURPOSE OF HAVING THESE ACCOUNTS ➡️ FHSA - Helps First-Time Home Buyers to save for Down Payment - Contributions are TAX-DEDUCTIBLE & Withdrawals are TAX-FREE ➡️ TFSA - Helps you grow your investments TAX-FREE - Contributions are NOT Tax-Deductible. ➡️ RRSP - Helps you save for retirement - Contributions are TAX-DEDUCTIBLE Withdrawals are NOT Tax-Free (Except HOME BUYERS PLAN & LLP) ➡️ RESP -Helps you save for kids education -Contributions are NOT Tax-Deductible.