RESP with RBC

It is that time of year again where we are back to school and back to sports. We save all year to register our kids in their favorite sports, whether it is soccer, hockey, dance or more. We save for back to school clothes, back to school supplies, and all those field trips we have to fund.

But what about your child’s RESP? Have you saved for that?

I know, post secondary education seems so far away depending on how old your child is, and all the other financial pressures are here and now.

I really believe that those RESP’s are just as important as the here and now financial pressures and demands. I know that when the times comes that my Little One is applying to post secondary education, that those financial pressures will be significant. I also know that I do not want my Little One to graduate from post secondary education already in debt with those horrible student loans.

I know just as much as everyone else how hard it is to find that extra money to put away. But the reality is, that if you can find even a little bit, that it adds up over time. Take a look at what $25 a week can add up to.

I love how the government also invests in our children if we, as parents are investing in our own children through an RESP. This to me, is one of the coolest things and best reasons to try to put even a few dollars into an RESP.

RBC wants to help you understand the importance about an RESP and all the details around them. To research more about an RESP with RBC, you can check out all the information that they provide on the RBC RESP page. RBC also has a guide to RESP’s that you can check out.

I graduated from post secondary education with school loans and hated it. Although the banks work with the students to help make repayment easier, it is still hard and disheartening to be looking for your career and paying a huge debt load back. It feels like a struggle before even getting into the workforce.

For me, not having a coffee out at $3 to $5 a day makes sure that I have the funds to go into an RESP for my Little One. Also, having the RESP contribution come off your pay cheque so you never really see or have the money in hands really helps a lot. Saving for the RESP while saving up for the registrations fees for sports is also a great way to plan ahead. Adjusting your contributions based on the time of year can help a lot. Maybe the summer is tough to get those contributions done and when you get a Christmas bonus is a better time of year. How about those grandparents, instead of handing the kids cash to spoil them, ask them to put it into their RESP.

To help answer all your RESP questions, RBC is having a Twitter party on October 1. The hashtag will be #RESPwithRBC and participants can win one of 6 $100 gift cards.

RBC is also hosting a Grow Your RESP with RBC contest. With 4 prizes of $500 (towards an RESP) to be won, winners can get a head start in saving for their child’s dreams.

Who are you saving for?

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.