Don't forget your simple chequing account!
Ok, seriously hear me out... My bank charges me $3.50 a month for a chequing account plus $0.65 for every transaction over 15. If I maintain $1,500 these fees are waived. $42 saved annually from an investment of $1,500 is 2.8% and a better return than most major banks "high interest" savings accounts. So before you go ahead with a high interest savings account make sure you at least carry your minimum balance in your chequing account!
Edit: I should add, that 2.8% is an after tax return so in reality it's like having a "high interest" account paying 5.6%...
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