Pencils, Backpacks and Their Future

Back-to-school isn’t just about pencils and pencil cases. It’s about whether your kid(s) or grandkid(s) head toward opportunity… or debt.

Let’s rip off the Band-Aid: doing nothing is still a choice. And when it comes to education savings? It’s the kind of choice that echoes for decades.

The $7,200 Gift You Might Be Ignoring

Meet the RESP—the most underused financial cheat code in Canada.
For every $2,500 you contribute to a Registered Education Savings Plan each year, the government hands you $500. No strings. No catch. Just free money.

Over 14 years, that’s $7,200 in grants—plus tax-sheltered investment growth. When your child withdraws the funds for school, they’re usually taxed at their (very low) income rate. Translation? More money stays in their pocket and yours.

Meanwhile, the cost of a four-year degree in 2030 is projected to cross $130,000. RESPs don’t just help—they can be the reason your kid(s) or grandkid(s) graduate without a debt monkey clinging to their back.

“But What If They Don’t Go to School?”

Great question. The RESP still has your back.

You get to keep your contributions. You can even transfer up to $50,000 of investment earnings into your RRSP (if you have the room). The only thing you give back is the grant money—aka the “bonus”.

So, let’s do some real talk:
Can you find $96 every two weeks? That’s the sweet spot to max out annual grants. Maybe it’s skipping Uber Eats once. Cancelling a streaming service. Packing lunch instead of buying.

Because school supplies run out. Opportunities? They don’t come back.

Start their RESP today or send this to someone if you think they might need a friendly nudge.

Future-you (and future-them) will thank you.

“An investment in knowledge pays the best interest." — Benjamin Franklin