Published on: June 24, 2021 | Last Updated: June 24, 2021 1:20 PM EDT The basis for this couple's financial success will have been frugal spending, persistent saving and the wisdom of using their TFSAs to the max. Gigi Suhanic/National Post Illustration In Ontario, a couple we’ll call Eric, 41, and Breeze, 38, are struggling to rebuild financial lives devastated by COVID-19. Their take-home income has shrivelled from a pre-virus level of $10,833 per month to a present level of $6,250 per month. They have a child, Emma, age 7. They have been selling assets to raise cash. They downsized their house, thereby reducing their mortgage debt by $200,000. They also sold a cottage for a profit of $80,000 used to pay down other debt. Breeze continues her personal-care business, making $3,000 per month after tax, a fraction of pre-COVID income. Eric has downsized his hospitality business to yield $3,250 per month after tax. They want to retire when Eric is 60.