Are You Saving Enough For Your Child’s Education?

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Within a few weeks of our son being born, we started saving for his education. I set up an RESP for him along with a separate savings account that he could use when he moves away from home. Just the thought of him moving away makes my eyes fill up with tears! I have money automatically set to come out of my bank account each month so that it’s one less thing I have to remember to do. Although I’ve done the math several times, I often worry that what I’m saving for him won’t be enough.

I know the cost of education will rise by the time my son is old enough to enter post-secondary education. There is an excellent tool by the Canadian Centre for Policy Alternatives that gives some insight into the rising costs of education. This tool allows you to search by province or by degree. It’s actually quite surprising to see how much the costs of education have increased over the last 35+ years.

giraffe & friends

Have you started an RESP (Registered Education Savings Plan) for your child? Are you confused about what it all means? Are you holding back because you don’t want to drag your little ones into the bank for a formal appointment? Are you procrastinating because you think you still have lots of time to save before your child is ready to use it? Well, no need to worry because I have information that will help you put all those worries aside.

What if I told you that there was a company that offered a 100% growth guarantee without any fees, explained in terminology you can understand and you can do it all while sitting on the couch. I know, I know, it sounds too good to be true, right? Let me introduce you to giraffe & friends.

giraffe & friends is a family-owned and operated education savings and insurance company. What makes them different from their competitors? giraffe & friends was built by Canadian parents, for Canadian parents. They use simple, friendly, and easy to understand language. Not sure if giraffe & friends is in your area? They may be closer than you think… like in your own home. Now how’s that for close! Simply visit the giraffe & friends website to easily purchase an RESP online with a quick application process. Have questions that you want to talk to someone about? They’ll talk you through it like a friend and not a banker or broker. They care about their clients and want to communicate with you in a simple, honest and direct way without the nonsense and confusing banking terminology.

What makes giraffe & friends different?

No Risk: When I put money into an account to save for my son’s future, I want to know that it will still be there when he needs it. I don’t gamble in Las Vegas so why would I gamble with my son’s RESP?

100% Guarantee: You won’t be subject to stock market fluctuations and your personal savings are 100% guaranteed to grow at a rate of about 2%.

Making The Most Of Your Money: Not interested in reading through pages and pages of banking terminology to figure out how to make the most of your money? I don’t blame you! At giraffe & friends, they handle all government grant applications so you get every cent you’re entitled to. There are no fees of any kind so you can put more of your money towards your little future graduate.

Convenience: As any parent knows, the last place you want to take your child for a play date is the bank. If your kids are anything like mine, my son would be “helping” the banker file her paperwork while I tried to hear about my options and choose the right plan. With crying babies and energetic toddlers running around the room, I can’t focus on banking terminology. With giraffe & friends, there’s no reason to leave your home while setting up or managing your RESP.

Insurance: I know none of us wants to think of our own death or the possibility of being off work due to a permanent disability. Unfortunately, we had a very close scare with my husband just six months ago and it was a real wake-up call for us as we were not prepared for such a serious event. With giraffe & friends, you can also insure yourself (the parents) so that if the unthinkable happens, they will complete the RESP for you.

Set It & Forget It: As a busy work-at-home mother and wife, I don’t need additional items on my to-do list each month. At giraffe & friends, you can set your contributions to come out of your bank account automatically each month.

We’ve all heard the saying “If I knew then what I know now” —here are some of the things I’ve learned about RESPs that I wish I knew three years ago:

  • RESPs can be used to cover most living costs if a child is enrolled in an approved post-secondary institution (tuition, books, rent, food). Here is a great resource for understanding RESPs.
  • There isn’t pressure for my son to go from high school straight into post-secondary education. Maybe he wants to take a year off for some work experience before he decides on a career path. Perhaps he wants to travel before starting another educational program. You can put an RESP on hold as long as the money is used by the 35th year since it was opened.
  • Globally, Canadians pay the highest fees for their investments. And now there’s an option that charges no fees at all, so you have more money for your child’s education.

Are you ready to cross one more thing off your to-do list? Visit today to get started on your child’s RESP!

Visit giraffe & friends Canada’s first no-fee, worry-free, 100% guaranteed RESP that you can buy online. The process is so simple you can start saving for your children’s future education while they nap. Kids grow out of everything. Give them something to grow into.

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