Skip to main content

Featured

Start Saving Now for September: Your RESP Checklist Before the School Year Hits

  Canadian Money Brief · Family Finance September feels a long way off on July 1. That's exactly why now is the right time to look at your child's RESP — not in late August when the school supply list arrives and the grant math gets rushed. If you have a Registered Education Savings Plan (or you've been meaning to open one), here's what to check right now, and why the calendar year — not the school year — is what actually matters. Why July, Not August The Canada Education Savings Grant (CESG) — the government's 20% match on RESP contributions — runs on the calendar year , not the school year. Grant room for 2026 resets on a January-to-December basis, and it doesn't carry any special "back to school" deadline. But summer is genuinely the best time to check your numbers, for three reasons: You still have six full months left in the year to top up if you're behind. Contributions made now have more time to grow before your child needs the money. You av...
Post a Comment
Read more

article

Labels

How to Save Money on Kids’ Expenses Without Sacrificing Fun

Raising kids can be expensive, but it doesn’t have to be. There are many ways to cut costs on kids’ expenses without compromising their happiness or well-being. Here are some tips to help you save money and still have fun with your kids:

  • Simplify birthday parties: Instead of spending hundreds of dollars on venues, food and entertainment, host a party at home or a nearby park. Kids will enjoy playing games, eating cake and spending time with their friends. You can also ask guests to bring a dish or a gift to share.
  • Postpone the trips: Traveling with kids can be enriching, but also costly and stressful. Wait until your kids are old enough to appreciate and remember the experience. You can also explore local attractions, go camping or visit relatives instead of flying abroad.
  • Reduce the clutter. Kids don’t need a lot of toys and books to be happy. Having too many can overwhelm them and reduce their creativity. Choose quality over quantity and donate or sell the ones they don’t use. You can also borrow books from the library, swap with friends or buy secondhand.
  • Delay the activities: Enrolling your kids in various activities can be beneficial, but also expensive and time-consuming. Consider whether your kids are ready and interested in the activity before signing them up. You can also encourage them to play outdoors, do arts and crafts or learn new skills at home.
  • Dress them smartly: Kids grow fast and their tastes change quickly. Buying them fancy clothes can be a waste of money and closet space. Opt for comfortable, durable and versatile outfits that can be mixed and matched. You can also shop at thrift stores, swap with friends or make your own clothes.
Labels:

Comments

Post a Comment