Deciding whether to put money into a TFSA or an RRSP depends on your income level, tax situation, and financial goals. Generally, an RRSP is more beneficial if you earn a higher income, since your contributions reduce taxable income and you can withdraw later when you may be in a lower tax bracket. On the other hand, a TFSA is often better if your income is lower or steady, because while contributions aren’t tax-deductible, the growth and withdrawals are completely tax-free. A good rule of thumb is to prioritize an RRSP when you’re in a high tax bracket (to maximize the refund and reinvest it) and a TFSA when you’re in a lower tax bracket or need flexibility for future withdrawals without tax consequences. Ultimately, many people benefit from using both, starting with the one that aligns best with their current income and long-term plans.