You'll often hear condensation called a warming process, which can be confusing since condensation has to do with cooling. While condensation does cool the air inside of the air parcel, in order for that cooling to occur, that parcel must release heat into the surrounding environment.
A Tax-Free Savings Account (TFSA), is an account where you can save or invest up to $10,000 a year. 1 Unlike other types of savings, youâre not taxed on the income you earn.Itâs a great way to save for your short or long-term goals; because it lets your savings grow â tax-free. Tax-Free Savings Account (TFSA) is a registered savings account regulated by the federal government. Through a TFSA, you can put your savings into eligible investments and not pay tax on the investment income you earn.
If you're 25, have no savings, and make $40,000 a year, you should be socking between $4,000 and $6,000 away annually. If you're 35 and make $50,000, you should be saving between $10,500 and $17,500 a year. Don't get discouraged. No matter how much your paycheck is, if you want to save money, you can.ost experts say if you're in your 20s, you should be saving at least 10 percent or more of your income, especially if you're single [source: Spiegelman ]. The earlier you start, the more time your investments have to grow [source: Lankford ].