You may be wondering why RESPs are important. In fact, for those that went off to school themselves without any financial readiness, the idea of contributing to an RESP for your child can seem unnecessary. I am telling you, however, that it is not unnecessary at all. In fact, it’s quite important.
As a mother of two, I have learned that life doesn’t have to be so serious! I play and learn with the best of them and love to learn and discover new things. Despite my new found love for the simpler things, I also know when it’s time to take things seriously. To me, my children receiving a great post-secondary education is important and nothing to scoff at. In fact, for me, it has always been an important aspect of parenting. Having a Registered Education Savings plan (RESP) has allowed me to relax a bit about the future. I know I am providing my children with an opportunity to chase their dreams!
We have had an RESP for both our children for a very long time. We aren’t the only ones that contribute to them either. Grandparents and friends have contributed to the RESP as gifts for birthdays too.
RESPs are important because they can help to ensure your child has the ability to receive a post-secondary education. What more do we want for our children above and beyond their happiness? We want them to chase their dreams. We want them to be successful in life. We want them to set goals and reach them. With an RESP, I won’t have to re-mortgage my house to provide that to them in the long run. Government grants can also be obtained with an RESP, and these can help contribute even further to your child’s future.
*Disclosure: NinjaMommers has received compensation to facilitate this post. All opinions are of her own and not influenced in any way.