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24 comments

  1. September 13, 2013
    Marilyn

    Planning for college is so important! This is a great post…..also, thinking outside the box and applying for scholarships help so much!

    Reply
    • September 13, 2013
      Tara

      You’re so right, Marilyn! Applying for scholarships is a huge help! (And so few people do it, that sometimes the competition isn’t as fierce as you thought it would be!)

      Reply
  2. September 13, 2013
    ChiWei

    I remember thinking I’d go to McGill because it was only a few thousand a year to attend, and now college costs are just INSANE. Every little bit helps!

    Reply
    • September 13, 2013
      Tara

      It IS daunting to think of saving up all of that money. But just like you said – every bit helps.

      Reply
  3. September 13, 2013
    Adrianne at Happy Hour Projects

    We have been saving, but our problem is: we haven’t been investing. I started an account for both kids the first month they were born. But with interest rates being totally abysmal, they are making very close to nothing. They might as well be in my mattress.

    This is a really good reminder, thank you. Now that rates are doing better, I definitely need to re-visit our financial plan for our kids! As in – actually make a plan, and let that compound interest do a little something for them!!

    Reply
    • September 13, 2013
      Tara

      You’re so right, Adrianne! It’s all about that compound interest in the long term. You sound like a savvy saver, lady!

      Reply
  4. September 13, 2013
    Kadie

    Oh my goodness!! College is something that has been on my mind a ton lately! My oldest is already 13 only 6 more years and he will be off to college. 🙁 I need to look over what interest our savings is making, thanks for the reminder!

    Reply
    • September 13, 2013
      Tara

      Kadie – you have a 13 year old?!?! You look WAY too young! 🙂

      Reply
  5. September 13, 2013
    Ephyna

    Does your child have to go to school in Canada to take advantage of this program?

    Reply
    • September 13, 2013
      Tara

      Hi Ephyna,

      No, your child does not have to attend school in Canada; however, they do have to be a Canadian citizen in order to receive the Canadian Education Savings Grant.

      If you live outside of Canada, there are most likely incentive programs in your state/country that can help you save for your child’s tuition.

      Reply
  6. September 14, 2013
    Cynthia @ A Button Tufted Life…

    I really wish we had this information when our son was young… I am very glad to see it here for anyone in this stage of planning… great post!

    Reply
    • September 14, 2013
      Tara

      Thank you so much, Cynthia! I hope that other people read this and consider putting even a small amount away each month. It’s amazing how fast it piles up!

      Reply
  7. September 14, 2013
    Patricia

    You are a very wise Mommy and Daddy…. and your future ..whatever.. will thank you. I know this from experience… oh, yeah, it was with RBC too!!!

    Reply
    • September 14, 2013
      Tara

      Patricia, I’m so happy to hear that your savings plan worked out well for you and YOUR “future whatevers”.

      And “future whatevers” is dead on in this house. Today Lila announced that she was going to grow up to be a party planner. And Lucy? She said she wanted to be a person who lived in the dollhouse.:)

      Reply
  8. September 14, 2013
    Dani @ lifeovereasy

    Such important information! I just sent my oldest off to university, and I wish I had paid more attention to this kind of savings plan. (your girls are sooo cute!)

    Reply
    • September 14, 2013
      Tara

      Awww. thanks, Dani! I think they’re pretty cute too!

      And yeah, it is good information to get out there to Canadian families. There’s money to be had – might as well have it! 🙂

      Reply
  9. September 15, 2013
    Inspire Me Heather

    We are doing this too Tara, and started waayyy back before Kindergarten! Thanks for the information though, I’ll keep it in mind if I come across anyone that is thinking about starting a RESP.

    Reply
    • September 15, 2013
      Tara

      Isn’t it amazing how quickly the funds grow?

      Thanks for keep this post in mind! I appreciate it! 🙂

      Reply
  10. September 15, 2013
    Debbie

    We have been with the Royal Bank for years. They are so helpful and our banker looks after our investments like they are her own. We love what they do for us.
    Debbie 🙂

    Reply
    • September 15, 2013
      Tara

      Oh, I’m so glad to hear that, Debbie! I’m so glad that you’ve found a great advisor! 🙂

      Reply
  11. September 17, 2013
    Kelly @ A Swell Place to Dwell

    It’s amazing what a little money a month can do! It does really add up. And I was with you in that my family was able to pay for my eduction, and having the freedom to chose what I wanted to take without the added stress was such a huge gift.

    Reply
    • September 17, 2013
      Tara

      It was a gift, wasn’t it? It’s amazing how I didn’t quite understand how lucky I was until I really started to understand budgeting and savings. And having seen the struggle that some of our friends have had with their student loans, I’m even more dedicated to ensuring that there’s a decent wad of cash there when the girls are ready to start school.

      Reply
  12. September 17, 2013
    Laurie @ Vin’yet Etc.

    My parents paid for my education, such a gift! This is so important, such a great reminder to parents!

    Reply
    • September 17, 2013
      Tara

      Thank you, Laurie! I hope that if one parent sees that there’s some grant money to be had, that they’ll try to go for it. It’s amazing how free you are, being debt free at the end of your post-secondary career.

      Reply

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