investing in your child's future with RBC RESPs #SaveWithRBC

Once you start a family, it's easy to get caught up with the present - the everyday chaos, new additions, sport activities and work - and it's also just as easy to forget about planning for the future.

When Lil J was first born, we wanted to make sure he had a head start in life with an educational fund that he can use towards his post-secondary education, so we ended up opening up an RESP account a few days after he was born.  It was something we could do for him to encourage his future and open up a world of endless opportunities.  A few years later, we repeated the same process for Baby Z.

For myself, I didn't have the luxury of an educational savings account and I remember feeling like I didn't have very many options because of my minimal financial situation.  My husband and I believe that education is a very important part of our children's lives, as well as into their early adult life.  Plus we figure the earlier we save, the faster the RESP grows and the easier it is to contribute over the years.

Honestly, it should be a no-brainer to start saving for your child's future.  I mean, when the government is giving you free money, you take it!  And by free, we mean the government will contribute 20% towards the first $2,500 deposited annually {that equals up to $500 a year to a lifetime maximum of $7,200!}.  Plus RESPs are flexible in which you can use it for college, university, apprenticeships and more!  And if your child doesn't use their fund, you can use it to fund your RRSP.  It's a win-win, right?

Need advice?  Do RESPs intimidate you?  RBC is here to calm your fears and answer any questions you may have. Plus with RESP-Matic feature, you can have your RESP contributions automatically debited from your bank account - one less thing for you to worry about {trust me - automatic anything is a lifesaver!}.


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.