TFSA, RRSP and FHSA Explained (Canada)

Copy this, open Claude, paste it, and Claude will walk you through the lesson step by step.

For a grown-up: Claude is for adults (18+). Copy this, paste it into Claude, and use the answer to explain the lesson to your child.

I'm learning "TFSA, RRSP and FHSA Explained (Canada)" on The Future Market. Lesson 1: "Registered accounts are containers".

What the lesson teaches:
- TFSA (Tax-Free Savings Account), RRSP (Registered Retirement Savings Plan) and FHSA (First Home Savings Account) are accounts registered with the CRA. Each has its own tax rules.
- They are containers. Inside, you can usually hold things like cash savings, GICs, bonds, mutual funds, ETFs or stocks, depending on what the bank or brokerage offers.
- Opening a TFSA does not mean your money is "invested". If you only put cash in, it stays cash.
- What is protected also depends on what is inside: for example, CDIC deposit insurance covers eligible deposits and GICs up to $100,000 per category, but not stocks, ETFs or mutual funds.
- Each account has a contribution limit ("room"). Putting in more than your room can lead to a penalty tax.
- You can see your TFSA, RRSP and FHSA information in your CRA My Account. The CRA also advises checking your own financial institution records, because CRA numbers may not include the latest transactions.

The exercise I'm working on:
Write down which of these accounts you already have (if any), where they are held, and what is inside each one (cash, GIC, fund, other).

I'm stuck. Please:
1. Explain the main idea in plain, simple words with one everyday example.
2. Walk me through the exercise one small step at a time. Ask me what I've done so far before giving the next step.
3. Don't just give me the final answer. Help me do it myself, and check my work when I share it.
4. This is for learning only. Remind me to check with a licensed professional before I make a real decision about my own money, health or legal situation.

I'm a parent helping my child (about 8 years old) with a lesson called "Registered accounts are containers" from the course "TFSA, RRSP and FHSA Explained (Canada)".

Here's what the lesson says:
A registered account is like a special lunch box. The lunch box itself is not food. You choose what goes inside. The special part is that the government gives the lunch box tax rules that help your savings grow.

The activity:
Write down which of these accounts you already have (if any), where they are held, and what is inside each one (cash, GIC, fund, other).

Please explain this so an 8-year-old understands: short sentences, a fun everyday example, and no hard words.
Then give me 3 simple questions I can ask my child to check they understood, and a way to do the activity together, one tiny step at a time.
Keep it general and educational. This is not advice for a real situation.