What is the TFSA over-contribution penalty?
CRA charges 1% per month on excess amounts until withdrawn. Tracking room beats guessing.
Behavioral lens: Regret aversion
TFSA Contribution Room Check
Check planned contributions against remaining room and penalty risk. Plus a behavioral lens on regret aversion so the math matches your mindset.
Educational estimates only. Not personalized advice. Data targets 2026 Canadian rules.
2026 contribution
$
$
Room check
Remaining room$57,000
Planned contribution$7,000
Over-contribution$0
Est. CRA penalty (1%/mo)$0
Behavioral lens: Regret aversion
Regret aversion vs unused room
Fear of over-contributing keeps cash idle in chequing. Regret aversion cuts both ways: small over-contribution penalties often beat years of unused tax-free room.
Contribute confidently, not anxiously
PsyFi tracks TFSA room alongside cash flow so you deploy shelter without fear.
Manage registered accountsFAQ
Is this PsyFi calculator free?
Yes. Every PsyFi free tool runs in your browser with no signup. We built them to pair accurate Canadian math with behavioral science, not to gate basic estimates behind an account.
Does PsyFi store what I type?
No. Inputs stay on your device. Nothing you enter is sent to PsyFi servers.
Is this personalized financial advice?
No. These are educational estimates using published Canadian rules for 2026. They are not tax, legal, mortgage, or immigration advice. Confirm current rates and your situation with qualified professionals before acting.
Estimates for education only. Not financial, tax, mortgage, immigration, or legal advice. Canadian rules and rates change. Verify current figures with qualified professionals before making decisions. PsyFi tools add behavioral context; they do not replace personalized planning.