On the seventh episode of MI$$ FINDEPENDENT, Gloria wraps up Season 1. She is joined by her friend Vickie, they discuss emergency funds, avoiding bank fees, and short to mid-term investing for those financial goals. We will be talking about what an emergency fund is, how to set one up, different types of bank accounts, how to find the right bank account for you, as well as investing for short to medium term and some safe places to put your money.

Homework
Task 1: Set up and optimize your emergency fund
Task 2: Get rid of those pesky monthly bank account fees Task 3: Consider opening a high-interest savings account to save for your short term financial goals

Links/Sources
Canadian Financial Capability Survey 2019
Gov’t of Canada bank account tool
High interest savings accounts
Personal income spending flow chart
Canadian Banking Basics from the Canadian Bankers Association
CDIC – How deposit insurance works

Sign up for no-fee banking with Tangerine or EQ using my referral code!
Tangerine Bank – new accounts get 2.5% interest (first 5 months), use my Orange key: 40411403S1
EQ Bank – all accounts get 1.5% interest:

Thanks so much for tuning in! Catch you on season 2.

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