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Financial advisors urge Canadians to save three to six months' expenses due to U.S. tariff tensions.
Amid U.S. tariff tensions and economic uncertainty, financial advisors suggest Canadians set aside three to six months' living expenses in an emergency fund.
This fund should be kept in a high-interest savings account or a cashable GIC for easy access and minimal penalties.
It's important to check for Canada Deposit Insurance Corporation (CDIC) protection, which covers up to $100,000.
Avoid using investment accounts for emergency funds due to potential accessibility issues and tax penalties.
This preparation helps strengthen financial security.
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Los asesores financieros instan a los canadienses a ahorrar de tres a seis meses de gastos debido a las tensiones arancelarias estadounidenses.