Now that my daughter is back in school (finally! thank goodness!) it gives me more time to organize our lives and start planning for the future. Although university and college may seem so far away right now, I look at my 8 year old daughter and think – where did that time go?
In 10 years she’ll be ready for higher education and we need to be prepared (especially when her younger brother will be doing the same thing 6 years after her!). I’ve decided to open up RESPs for both of the kids to help save for their future schooling – and the best part? Family and friends can help contribute!
That’s right, instead of birthday presents and too many toys, friends and family can contribute to your child’s RESP and help save for school!
Saving for your children’s future education can be as easy as contributing $25 per week to an RESP and watching the money grow! In 18 years it can add up to $50,911 – if only I had started contributing from the time my children were babies! Investing in our children’s futures is very important, and the Canadian Government also contributes a percentage to your child’s RESP, which I think is brilliant!
Contest & Twitter Party
RBC is currently running a contest, Grow Your RESP with RBC! You can win 1 of 4 prizes of $500 towards an RESP! It’s a great way to start your kids’ education savings or add to an existing RESP!
Join me at the #RESPwithRBC Twitter party on October 1st! Follow @RBC_Canada on twitter and use the hashtag #RESPwithRBC and participants can win 1 of 6 $100 gift cards!
Disclosure: I am part of the RBC RESP blogger program with Mom Central Canada and I receive special perks as part of my affiliation with this group. The opinions on this blog are my own.