The Future is Financial
Lose the guilt. We’ve all thought it. Sometimes you look just a little bit forward to the day when your kid is off to university.
As far away as that may seem (2000 more diaper changes?), guaranteed your bank account might require a bit more preparation than you do.
No time like the present to start saving for your child’s education, and we got the scoop from Mark Farrell, CEO of KidsFutures, on how. Here are his top tips:
• Try not to be lulled into thinking that having young kids means you have many years to go before you need to worry about education costs. It’s a lot easier to start saving now.
• Thinking about saving just a few dollars a day makes reaching that goal much more manageable.
Good to Know
• The Federal government will GIVE you up to $500 per child through the Canada Education Savings Grant program but they won’t give it to you unless you save in an RESP account (Registered Education Savings Program) first. So don’t throw that money away!
• The money in a RESP grows tax-free until the child becomes a full-time student at a university or other eligible post-secondary educational institution.
• A birth certificate and a Canadian social insurance number are required to open an RESP so get those forms filled out now!
Still a little overwhelmed? KidsFutures® can help. It’s an innovative rewards program helping Canadian families save money to prepare for their child’s college or university education costs. You’ll earn cash rewards simply by purchasing everyday products and services that you’re buying already.
Your KidsFutures Rewards can be directed into any existing or new education savings plan at any financial institution to help pay for a child’s future education. It’s FREE and it’s easy!
For the Greater Good
The really good news? You can help save for your child’s education AND help SickKids Foundation too. Use SavvyMom’s special referral code, 1092856, when you join KidsFutures and KidsFutures will donate $5 to our campaign for SickKids Foundation. Plus they will match 5% of your KidsFutures earnings with an additional contribution for SickKids.
Now there’s something to look forward to. Talk about mutually rewarding.
For more information or to join for free, please visit www.kidsfutures.ca or call 1-866-728-3454 (416-408-2156 in the Toronto area).
®Registered trademark of KidsFutures Inc.