Guy Patterson, a second-year student at the University of Alberta, is cautiously optimistic. Patterson has been working part-time since he was 16 and, on the advice of some friends who were dabbling in self-directed investing, opened a high-interest Tax-Free Savings Account (TFSA) shortly after turning 18. Patterson knows he is one of the lucky ones. He is able to live at home while attending university, his tuition is covered by the RESP his parents started when he was a baby, and they now want to help him set up a First Home Savings Account (FHSA) through their financial advisor. The FHSA, introduced by the Government of Canada in April 2023, allows Canadians to save up to $8,000 annually, with a maximum of $40,000, in a tax-deductible and tax-free account for home buying or building expenses.