In some ways, I feel like the poster child for how not to be a financial success story. I have credit card debt and I tend to operate without a budget much of the time. Impulse purchases? Been there, done that. Just ask my car. (Seriously)
But although I might be a silly spender in some ways, there’s one thing I don’t take lightly, and that’s saving for my retirement and my children’s education. I have RRSPs and a solid pension plan for myself, and RESPs for my kids. We opened the RESPs right after the kids were born, and make sure to contribute every year. Hey, if the government is going to match it, I’m not going to let that go to waste.
But it’s not always easy, and I certainly could do more. And as with all investments, the key is to start early – even small contributions to your baby’s RESP will grow and make a huge difference by the time Junior is ready to head off to university eighteen years later. It’s never too early!
That’s why I was so excited to hear about this awesome contest on the Playtex Mommyville Facebook page. You can enter for a chance to win one of two $2 500 contributions towards an RESP or one of twelve $100 Babies ‘R’ Us gift cards plus a Playtex gift basket. The contest is currently open and runs through December 31, 2012.
With all the recent media focus on the financial status of Canadian families, there’s been a growing trend in companies offering prizes that contribute towards saving for education. And amidst all the financial worries we face every day, post-secondary education is high up on that list. Even if your child is a baby, and eighteen seems a long way away, it’s not something you can ignore.
First day of school 2009 – seems like yesterday – university will be here before I know it!
We all know that the costs of post-secondary education are rising, and none of us wants our children to graduate from university with crippling student debt. But it’s also not always easy to max out every investment you have – between TFSAs, RRSPs and RESPs, it feels like you could put your whole salary away in savings and still not be ahead. Winning a contest like this would be like two prizes: money to invest in education and also peace of mind. I mean, think about it: wouldn’t it be great to know that there’s at least one thing you don’t have to worry about?
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RESP’s let me sleep at night. Just knowing if my kids want to continue their education I have a little something that will help them makes me feel better. Would love to win this contest though, that would be awesome!!!!