Celebrate Financial Literacy Month and Education Savings Week with the SmartSAVER Contest

Every parent I know wants his or her child to have the opportunity to pursue an education that will benefit the child's future. However, for many families paying for this education is a serious barrier. There is a simple way to get started! Since RESPs are often misunderstood and awareness of the Canada Learning Bond is very low, over 1.5 million kids are missing out on free education money through the Government of Canada’s Canada Learning Bond. Families are eligible for up to $2,000 from the Canada Learning Bond if their child was born in 2004 or later and their family income is under $45,000.

An Easy Way to Contribute To Your Child’s RESP at Tax Time

I hope all of you have started your taxes for 2014! :) Since the time is approaching to finish filing tax returns, I wanted to mention how easily we can save for our children's future by contributing towards a Registered Education Savings Plan (or RESP) via our tax returns. As a parent, I think it helps if we think about our children's education starting from a young age, instead of waiting for the days when it gets closer for them to go to university or college. This savings will minimize future stresses, and help us be in a position where we can help our children with their schooling.