Every parent wants to give their child the best possible start — in Canada, that often means supporting them while they attend college or university without being overwhelmed by student debt. One of the smartest tools out there is known as the Registered Education Savings Plan Canada (RESP) — and it could potentially help your … Read more
RESP – What is it? Parents are always looking into the future for our children, and nothing says this more clearly than planning for our children’s education. But what happens when the person who opened and managed that RESP — known as the subscriber — dies? It’s the sort of question few families want to … Read more
Millions of Canadians get tax refunds every year. And yet most of it vanishes into short-term consumption — new gadgets, home renovations, perhaps a vacation. But what if that refund could fatten your child’s future, rather than merely deflating your wish list? The average federal tax refund in 2024 was $2,093, according to Statistics Canada. … Read more
When it comes to saving for post-secondary education, Canada’s RESP system is still a potent tool. In 2024, Canadians withdrew approximately CAD 6.7 billion from RESPs and benefited over 583,000.RESP payouts reached in and out from s.brij@gmail.com+1 Maybe — but this was not my understanding, especially for a TFSA, etc. It’s another reminder of just … Read more
It can feel like aiming at a moving target when you’re trying to save for a child’s education down the road. Tuition continues to climb, living expenses ebb and flow, and families must make difficult choices about their budgets. But Canadians have a handy weapon in their arsenal: the Registered Education Savings Plan (RESP). With … Read more
We have ten things in the air all the time, raising children in Canada today. Food costs are up, housing is a burden the likes of which we’ve never seen, and the biggest number you face when pondering your child’s future is the cost of higher education. Post-secondary tuition, books, and the cost of living … Read more
Parents save for years to give their kids the freedom to choose the right school. Sometimes that involves studying across the country, sometimes it means crossing borders. Going the distance. What many families may not realize is that the RESP can go with you, and the government grants that come with it can also be … Read more
A new life in Canada is exciting and full of opportunities, but also challenges — for instance, finding a good school for your kids. Like most immigrant families, one of their highest wishes is for their children to have access to quality post-secondary education without the burden of heavy student debts. And this is where … Read more
Let’s be honest — saving for your child’s future feels overwhelming. Bills, groceries, and the never-ending list of school needs. Then someone tells you about an RESP, and you’re like, “One more thing I’m behind on.” But here’s the thing — it’s not about perfection. It’s about starting. Even $20 a month says, “I’m showing … Read more
A Registered Education Savings Plan (RESP) is an important financial tool in Canada that allows parents, grandparents, or other relatives to save money for a child’s post-secondary education. With the depreciation of the dollar, an RESP gives the chance to save on the cost of education, including tax exemptions. In this blog, we will explore the … Read more