If you're like me, banking is like German. I get the basics and compound interest and whatever else, none of it is really crystal clear. RRSP have always sounded like a bit of a confusing mess, especially when you listen to your parents talk about paying off debt before saving for the long term. This short clip from Canada's Citizen's Bank lays it out plain and simple. Check it out:

Thanks to Darren Barefoot for the link.