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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...
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Wall Street’s Momentum Cools After Its Latest Record-Setting Week

 

Wall Street, fresh from its recent record highs, has taken a step back as the new trading week begins. The S&P 500 dipped by 15.99 points, representing a 0.3% decline, settling at 5,218.19 in a subdued day of trading. Meanwhile, the Dow Jones Industrial Average experienced a 162.26-point drop (equivalent to 0.4%) to reach 39,313.64. The Nasdaq composite also retreated, losing 44.35 points (or 0.3%) to close at 16,384.47.

This cooling momentum comes after a remarkable run for Wall Street, which had been scaling new heights. Investors are closely monitoring the Federal Reserve for any signals regarding potential interest rate cuts. The recent surge in the U.S. dollar against the Japanese yen has also raised concerns, prompting speculation about market intervention. The dollar’s ascent to nearly 152 yen—a significant jump from slightly above 130 yen a year ago—has drawn attention. Meanwhile, the euro stands at $1.0818, up from $1.0810.

In Asia, shares exhibited mixed performance. Japan’s Nikkei 225 declined by 1.2%, reaching 40,414.12, as investors booked profits following the index’s recent record-breaking highs. Hong Kong’s Hang Seng edged up by 0.2% to 16,535.89, while China’s Shanghai Composite gained 0.3%, closing at 3,056.52. The Chinese yuan (renminbi) weakened to a four-month low of 7.2282 against the U.S. dollar. Australia’s S&P/ASX 200 bucked the trend, rising by 0.5% to 7,811.90. South Korea’s Kospi experienced a slight decline, losing 0.2% to settle at 2,743.04.

As the week unfolds, investors remain watchful for further cues from the Federal Reserve and potential market developments. Wall Street’s recent retreat serves as a reminder that even record-setting rallies can encounter moments of moderation.

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