Saving for Your Child’s Education #EducationSavingsWeek

Children are expensive little creatures.

Saving for your child’s education is not always easy.

In this day and age saving for your child’s education is a subject that you should research and understand. By the time our children complete high school, post secondary education fees are going to be considerably higher.

There are many ways to invest in your child’s future by saving for your child’s education. Heritage Education Funds will be sharing tips on their blog all week from November 21 – 25 to help you understand your options.

In our family, we have a set amount that comes out of our bank account every month that goes directly into our RESP account. This makes it easy for us as it is set up just like a bill payment. The great thing is that we have full control over this and can change or pause that amount at any moment.

We also truly appreciate it when the family buys less gifts for our kids (they are so fortunate and truly do not need more toys etc.) and give us a cheque that can be added to the RESP account. Every bit helps to grow that account in hopes that it will be at a place to cover a significant portion of our kids’ post secondary education.

This past summer, we helped our children understand first hand how investing your money works by setting up investments into their allowance structure. I can’t wait to share what we did with you in more detail very soon.

Saving for your child's education
Date: Thursday, November 24
Time: 8:00 pm-9:00 pm EST
Hashtag: #SavingWithHeritage

This post has been generously sponsored by Heritage RESP. All opinions are my own an have not been influenced in any way.

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8 Responses to Saving for Your Child’s Education #EducationSavingsWeek

  1. binabug says:

    yep, we had RESP’s for both kids from the time they were born and it sure did help them out!!

  2. kristen visser says:

    Hubby and I do not have an RESP started for our girls yet but I was at that twitter party and because of that party and all the helpful information I learned and read, we know just how important it is to have an RESP in place for our girls and will be starting one this week 🙂

  3. Cheryl Grandy says:

    I agree that having a set amount come out of the bank account every month is a good way to save for RESPs (and for other things). Congratulations on planning ahead!

  4. kathy downey says:

    I wish we had done RESP’s when my kids were young

  5. elizamatt says:

    Thankfully mine are all past this stage. Well one of them has gone back to college but he supports himself. I do think that RESP’s are a good idea, it’s so expensive to get further education these days.

  6. Darlene Schuller says:

    Well, I’m down to 1 left at home, makes it a little easier to save for education. I get so caught up in the day to day of life, sometimes these long term important things escape me.

  7. Jennifer G says:

    Saving for your Child’s education is so important! Starting early is key. Every little bit counts.

  8. Irina Krush says:

    Go to you bank and open an RESP account. Stay away from any group RESP. They have all kind of fees. Heritage calls it “sales fee” and is $100 per each unit you purchase. They claim they will return it “up to” 100% but it’s a scam.

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