As parents we all want the best for our kids and hope that we can give them more opportunities in life than we had when we were younger. This includes education. I know for my hubby and myself we have been saving for our kids education a little after my daughter was born. This is definitely important. I want my kids to have the option and opportunity to better their future and so when we started investing and saving for when they turn 18 or head to college, they can have a good amount to get them started.
I'm also blessed to have parents and in laws that have a savings account for my kids as well, so not only are we putting up money for them, but so are their grandparents. Which is definitely a blessing. Even with the economy being a bit hard, just a little bit being saved per week, bi-weekly or monthly will help for your kids future.
Since I'm the one that handles all the bills, mortgage and manages our budget, I make sure that each week I put away $20 per child and on the occasion that my budget can spare a bit more, I try and add in a few extra dollars here and there if we don't need it. Right now our kids savings is looking pretty good and that's not just because of what we did either. A good chunk of what we saved came from the monthly Universal Child Care Benefit checks we all get monthly from the government for our kids that are under the age of six. Since that was for our kids we decided to go ahead and save it for them in their accounts. Every little bit counts so even if you can put away five dollars a week it's still money being saved and will definitely add up.
Have you started saving for your kids?
If you haven't, it's never too late. Anything is better then nothing and if you need help with figuring out how to start or where to begin I would suggest talking with a rep from
RBC Canada. With RBC, you have the flexibility to use the RESP for university, college, apprenticeship, non-credit courses etc., and if your child doesn't use the funds, you can use your contributions and earnings to fund your own RRSP!
For tips or more information about learning how you too can save for your kids future you can check out RBC's
RESP-Matic page to find out how you can contribute to your kids future regularly and automatically.
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