I've decided to start a new experiment. I currently have my baby efund in a tax free mutual fund account. I add $50 a pay check to it (I'm at $1000 as of now! Yay!). The challenge with this is that it takes a few days before I can access the money, so if there was ever a real emergency, I woudl have to use the CC's and pay them off (something that I am not keen on).
I also have an empty tax free savings account attached to my chequing account (it was opened when they first came out so I was all gung ho about it). This account will give me access to my money in one business day.
I've decided I'm going to take the extral dollar here and dollar there that I have left over at the end of each pay period and instead of just floating them forward, I will put them in this account. In addition, anytime I do a debt purchase (bad me, I should be using cash) I am going to round up and put the reminder in the efund. I want to see first hand how those dollars and cents really add up!
So far, I'm at $4.23 and counting!