I look at my kids and really hope that they will choose to go to College or University like I did. I’d be so proud to see my daughter wear a University of Victoria sweater (like her mommy did) or better yet, an NYU hoodie when she grows up. That’s why my husband and I started an RESP with RBC for them when they were just two years old.
When I speak to other parents I find that some are on board and already contributing while many others just don’t think it’s useful.
Here are a few reasons why I suggest you start an RESP for your child:
- You don’t have contribute a huge amount every month. We contribute $50/month per child.
- You can receive FREE money from the Government! The Canada Education Savings Grant will match up to 20% on the first $2,500 contributed annually.
- Your child can use their RESP in many ways. You can use it for university, college, apprenticeship or non-credit courses etc.
- Family members and friends can contribute to your child’s RESP to help it grow faster. (Do most kids really need 20 toys for their birthdays?)
- If you set up an RESP Family Plan (for multiple siblings) and one of the children on the plan does not use their RESP the other child can use the funds.
- There are no fees to start an RESP at RBC.
Starting an RESP with RBC is a great idea. It only takes a few minutes to set up. I was surprised to see how fast my contributions grew and am so happy to be saving for my children’s future. To learn more about RESPs with RBC check out their website today.
{Contest and Twitter Party Alert!}
Grow Your RESP with the RBC Facebook contest on now. With one of 4 prizes of $500 (towards an RESP), winners can get a head start in saving for their child’s dreams. Hurry! To WIN money towards your child’s RESP click here now. (Giveaway ends Oct 4, 2014)
Join @RBC on Oct 1, 2014 at 9PM EST for the #RESPwithRBC Twitter party! We’ll be chatting about saving for your child’s post-secondary education and giving away 6 prizes of $100. 
I’d love to know, do you have an RESP for your child? If not, do you plan on starting one?
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.
