If you're thinking about starting to put money aside for your child's post-secondary education, RESPs are a great way to make the most of your savings. There are a number of reasons these accounts are so widely used, the main two being that your savings are tax-sheltered as they grow, and various government grants become available to you when you invest in an RESP.
Whether your child is a newborn or starting high school, thinking about saving for post-secondary schooling is overwhelming. With so many options on the market designed to help you save for education, choosing the right one can be tricky - especially when sales associates are trying to sell you their products.
Tuition prices are on the rise, leaving many parents wanting to help put their children through post-secondary schooling. A four-year university degree can cost upwards of $60,000, making hefty student debt a reality for many Canadians. Saving for things like a home and family becomes even more difficult for recent graduates. While the price tag is daunting, post-secondary education is still is an investment in your child’s future. If saving for your kids’ education is a goal of yours, we share some advice on how to make it happen.
Being a first-time parent is an exciting time, and the nine months leading up to the birth of your first child are filled with preparations to make sure he or she will have everything they need once they arrive. A large part of this preparation is financial, and it requires some adjustments to your budget.
With the passing of the Victoria Day long weekend, summer is officially here. While your list of activities for the next few months may be growing, and the cost of amusement parks and family vacations can start adding up, there are a number of things you can do to stay on budget. Here are a few ideas for some fun and productive activities that can help you soak up every drop of this summer without breaking the bank.
While one of the most common stressors on a relationship is finances, budgeting as a couple doesn’t have to be complicated if you’re both on the same team. There’s no such thing as a “normal” budget; each couple’s budget is designed specifically for their family’s goals, income, and spending habits. Budgeting for couples requires open communication and the discipline to track your spending. We can help you identify your long and short term goals to find a plan that works for you, starting with these 7 tips on how to create a budget you and your spouse can follow.
This blog by Invisor CEO Pramod Udiaver was originally published on Huffington Post Canada. As a new guest contributor, Pramod will be posting regularly on Huffington Post. Watch for Pramod’s upcoming article on back-to-school financial tips.