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Mimay.tv Personal Finance & Investment in Canada

05/22/2026

Stop Creating New Debt

One of the first steps toward financial recovery is avoiding additional unnecessary debt.

Many people struggle because while trying to repay old debt, they continue

• Borrowing again

• Overspending

• Using loans for lifestyle maintenance
This creates an endless cycle.

Focus on controlling expenses and living within your current financial ability.

Debt becomes easier to clear when new debt stops increasing.

Most people work hard for money but never truly learn the rules that make money work for them.Financial freedom is rarel...
05/22/2026

Most people work hard for money but never truly learn the rules that make money work for them.

Financial freedom is rarely built from luck. It is built from discipline, patience, wise decisions, and understanding how money behaves over time.

💰 Earn more, but also spend less than you make. Wealth is not just about income — it is about control.

💰 Save first before paying for lifestyle. People who build wealth learn to pay themselves before paying others.

💰 Build an emergency fund. Life is unpredictable, and preparation creates peace of mind during difficult seasons.

💰 Avoid destructive debt. Debt used carelessly steals future opportunities and creates financial pressure.

💰 Invest early and consistently. Time and compound interest reward people who start before they feel “ready.”

💰 Protect your income and assets. Insurance and financial protection are part of smart money management, not weakness.

💰 Track your money. What you monitor improves. Financial awareness creates financial control.

💰 Avoid lifestyle inflation. A higher income should increase freedom, not unnecessary expenses.

💰 Keep learning about money. Financial education can change generations, not just individuals.

💰 Think long-term. Real wealth is usually built slowly through consistency, patience, and smart decisions repeated over time.

Money is not just about survival.
It is about creating options, security, peace, and freedom for your future!

💰 Want to build lasting wealth? Here are the Financial Habits of Successful People 💼✨Successful people don't just get lu...
05/21/2026

💰 Want to build lasting wealth? Here are the Financial Habits of Successful People 💼✨

Successful people don't just get lucky, they build powerful money habits that set them apart. Here's what they do differently:

✅ Emergency fund fully funded — They're prepared for life's surprises, no panic needed.

🤖 Automated savings & investing — They pay themselves first, every single time, without even thinking about it.

👀 They don't ignore or hide from their finances — No more burying your head in the sand! They face their numbers head-on.

📊 They understand their cash flow & have a budget in place — Knowing where every rand goes is their superpower.

🙏 Practice gratitude — A wealthy mindset starts with appreciating what you already have.

📈 Passively grow their wealth — They make their money work FOR them, even while they sleep.

🎉 They still live in the moment & treat themselves from time to time — Balance is everything. Wealth doesn't mean deprivation.

🧠 Continuously improve their money mindset & find new opportunities — They never stop learning and growing.
The best time to start these habits was yesterday. The second best time? RIGHT NOW 🚀

Which of these habits are you already practising? Drop a comment below 👇

05/19/2026

Investing isn’t hard.
It was made to sound hard.

05/15/2026

Most Canadians will work 40 years and retire broke. Not because they earned too little.

Because nobody taught them the 4 accounts that change everything:

TFSA: $109,000 in Tax-Free investing room. Most Canadians hold cash inside it.

RRSP: 25-35 cents back per dollar. Most contribute at the wrong income level.

FHSA: $40,000 Tax-Free toward 1st home. Most haven't opened one.

RESP: $500/year free government money. Most parents never claim it.

Four accounts.
All free to open.
All under-used by the people who need them most.

The system isn't hidden.
It's just never taught.

Let's simplify things. Given the challenges of life in Canada, I prioritize necessities that are within my means. I supp...
05/15/2026

Let's simplify things.

Given the challenges of life in Canada, I prioritize necessities that are within my means. I support that.

No need to exaggerate.

05/04/2026

Did You Know Theae Facts About An RESP?

When saving for your Kids' Education:

• Purpose - To save for a child's post-secondary education.

• Requirements - A valid SIN for Beneficiary

• Lifetime contribution limit - $50K per child

• Annual contribution deadline - Dec 31st

• Govt's contribution - 20% on the first $2,500 contributed annually, up to a maximum of $500 a year.

• Canada Education Savings Grant (CESG) - $7,200 lifetime maximum per child.

• Canada Learning Bond (CLB) - upto $2,000 lifetime maximum per child, if eligible.

$500 the 1st year, and then another $100 each eligible year after that until the age of 15, up to a lifetime maximum of $2,000.

05/01/2026

Prioritizing Extra Funds:

1. Build emergency fund (3-6 months),
2. Pay off high-interest debt (over 7%),
3. Leverage employer RRSP matching,
4. FHSA for first-time homebuyers,
5. Maximize TFSA annually,
6. Contribute to RRSP,
7. Prepay high-interest mortgages (5-6%+).

04/29/2026

DO NOT designate your spouse as a "Beneficiary" in your TFSA,

instead name as a "Successor Holder".

✅️ Successor holder: Your spouse automatically takes over the TFSA after you pass away, keeping the Tax-Free status intact.

❌️ Beneficiary: They receive the funds Tax-Free, but the TFSA stops being a TFSA.

Bottom line:
Successor holder = keeps the TFSA. Beneficiary = only gets the funds.

04/29/2026

When opening an RESP for your kids,

Do Not open an "Individual Plan", choose a "Family Plan" instead. Here’s why:

If you have two children and one decides not to pursue post-secondary education…

The other child under that plan, can still use the grant money and growth.

With separate Individual RESPs, flexibility becomes limited.

Don’t lock yourself into restrictions you don’t need.

04/28/2026

Quick check:

Where is your TFSA right now?

1. Invested (6-8%)
2. GIC (1-3%)
3. Savings (1%)
4. Cash
5. No TFSA

No judgment.

Just awareness.

Comment your number.

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