Does she have any non-mortgage debt at >5%?

If yes:Pay that off first

If no: Does she own a house or rent?

If she owns:

Is the house paid off:

If yes, TFSA first, RRSP second, claim RRSP deduction over time, non-reg last

If no: Consider the interest rate, the mortgage payment amount and her risk tolerance in determining whether to prepay the mortgage or invest. If she chooses to invest TFSA first, RRSP second, claim RRSP deduction over time, non-reg last

If she rents:

Does she want to buy and the local market favours buying: Decide on downpayment amount based on interest rate, and risk tolerance. This amount should be atleast 20% and can be up to 100%. Invest the rest, TFSA first, RRSP second, claim RRSP deduction over time, non-reg last

Does she want to continue renting or the local market favours renting: Invest TFSA first, RRSP second, claim RRSP deduction over time, non-reg last