Education is the great opportunity opener in my mind.

I went to University AND College. I know to some it seems a bit extreme. I can honestly say I am one of those people who really liked being in school. It was fun, and I am not just talking about the parties and the friends. I LOVED learning ( still do to be honest)!

University allowed me to get the book learning. College was the hands-on part of my education. So after six years of post-secondary education I had a B.A in English and a Post-Grad Certificate, School of Journalism. I felt ready for the world…O.K., at least I felt ready to work!

Here is the thing, though, I left post-secondary education with debt. Student loan debt. I was one of five children and while my parents took care of us, gave us all a great life, did some financial planning for our future, RESP’s weren’t really part of that generation’s financial landscape. So, the solution was student loans and lots and lots of part-time jobs on my part. My student loan debt was not huge and in the end my parents helped me pay it off.

I will admit I am no financial wizard but I recognize the need to save a few pennies ( well, now that there is no longer any Canadian pennies I guess I should be saying a few nickles!). Very early on in my working career I started stashing money away in RRSP’s but the idea of kids and RESP’s was not even on my radar.  Fast forward a few (O.K., many) years and now I am a parent to two smart daughters.  Life and balancing all that work and family threw at me kept me busy and I took my eyes off the financial future ball. But kids grow up quick. I, like many parents, would say they are growing up quicker than I like and the days of University and College are fast approaching so I got my act together and opened an RESP account for both my girls.

Registered Education Savings Plan (RESP)
RBC Registered Education Savings Plan

Small Sacrifices, Big Payoffs

Here is the beauty of what I set up. Sure, I can drop a big chunk of change in there when I have it. Grandma and Grampa can even top up the education fund when they have a gift. The best part is I set up regular automatic contributions. I don’t have to think about it and the money keeps building.

Even small contributions add up quickly with an RESP-Matic: Set up regular contributions and see your savings add up! $25/week can add up to $50,911 in 18 years. Imagine, for the cost of your daily fancy coffee you could be saving for your child’s University or College education.

Questions? Answers!

In the beginning, I had lots of questions. I am sure you have a few.

What is an RESP?

Why is it important to set up?

RBC can help with all the information you need, including FAQs and benefits of an RESP. Just click the link for all the info:

Be sure to join in the fun at the RBC RESP Twitter Party. Seriously, who doesn’t love a good party! A party where you can win prizes is even better! You could have a chance to win one of six $150 Visa gift cards! The party is September 17th @ 9:00 pm EST.  Be sure to follow #RESPwithRBC


Saving For Future Dreams, Someday Dreams


My Someday Dream Girls

I think every parent wants to provide a great life for their children. It is all about creating opportunities for those big SOMEDAY Dreams. I want my girls to dream big and know their dad and I have their backs and support them (with love and money!) no matter what they decide to do.

I want my girls to know I love them enough to plan for their future, no matter what that is.

Dream big girls!



“Disclosure: I am part of a campaign with Influence Central and I receive special perks as part of my affiliation with this group. The opinions on this blog are my own.”


Author: imfreckles