Boyish Charm

RESP: The Greatest Gift

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My Dad was the first person in his immediate family to attend university. I was always aware that post- secondary education was a priority for him – and so it became so for me.  Ever since I can remember, I knew my Dad was making contributions to my university savings. As I look back now, that means even more to me—my Dad was a teacher and a single father. We were by no means rich.

Saving for Child's Education

When I turned 18, I attended a university that was far from home. That meant I needed money for rent, food, living expenses, as well as tuition and books. Fortunately, my Dad gave me the greatest gift by having it all paid for through an RESP.

Coupled with Dad’s savings for me, I worked at a PR job all though university. That meant that I had no student loan when I finished my degree. What an advantage! I even had enough money left over for six weeks of backpacking in Europe and a move to Toronto to start my new life and career.

When I was pregnant with Sam, one of the first things I did was investigate RESP options. As soon as I was able to, after Sam was born, I applied for his birth certificate and within the first months of his life we were already making monthly contributions to his RESP. Today, that RESP contribution is a direct deposit, every two weeks, so that we ensure it gets done. We also increase the RESP contribution value by at least 10%, every two months. Even through the financial ups and downs of being self-employed over the past six years, Sam’s RESP is one thing we will not touch. Education is a priority for me, just like it was for my dad.

RESP Savings

Almost 20 years later, I know what my dad gave me the greatest gift he could ever have — an RESP —  even though at the time I really wanted a car!  I want to be able to give the same gift for Sam. I know from experience that it’s prudent to start an RESP for your kids as soon as you can. Companies like Heritage Education Funds are a smart way to take advantage of government incentives. Heritage is one of Canada’s leading group RESP providers, with 50 years of experience in helping families save toward children’s post-secondary education. Their Group RESP plans pool subscriber’s funds so there is a greater investment opportunity, which leads to benefits from compounded interest.

Right now, Heritage Education Funds is conducting a couple of contest campaigns that could make a real difference in the lives of the winners. Read about the details here.

Saving for University

Check out the Annual RESP Draw!
Win! $20,000 in contributions towards RESPs to be given away! It’s back once again! Our Annual RESP Draw offers you a chance to win 1 of 8 contributions of $2,500 towards a Heritage Education Funds RESP plan. Draw date is December 31, 2015.

Join the conversation and win a $100 Mastercard gift card! Simply tweet or share an image of the front cover of any Heritage Education Funds 2014 material with a hashtag #ShareHeritage between Thursday, January 1st and Thursday, December 31st to enter. We will draw one lucky winner every quarter of the year.

Giveaway Time!

Enter to win a $50 Tim Horton’s gift card by using the Rafflecopter from below. Ends September 18 at 11:59pm EST — open to Canada only, where allowed. Good luck!

a Rafflecopter giveaway

Stephanie Keeping

Stephanie is in love with a boy named Sam. He has taught her that it's okay to jump first and look later, to wear a dirty shirt to the park and to decide that today is a good day to take a nap in your rubber boots. She hangs out here blogging at Spaceships and Laser Beams and at our printable party shop on Etsy.