Helping my Children Plan for their future #ShareHeritage

If you have ever asked your children what they want to be when they grow up, you know the answers will vary. Each one of my kids has wanted to be something different and then they change their mind when something new is introduced to them. My oldest son refuses to have a job where he has a boss. He is independent and very creative so he wants to be his own boss. He is not positive what his career will be but he knows he will be an entrepreneur.

My youngest, who is six, has the funniest ideas still. According to her, she will be a teacher part time and a gymnast the rest. If she has time on the side she will be a veterinarian, or like she calls it an “animal doctor”.

When children are young they have big dreams as they should. The world is a big place and they can do anything they set their minds to. Having one of my children in college, I know finances will be an issue no matter what path they choose. Post-secondary education expenses add up quickly and many are not prepared. As a parent we want to help them financially but are not always able to. Often the young adult has to take on part time employment and loans to get through school, leaving them with debt for years. As you can imagine this can be a stressful situation for all. But it does not have to be if you plan ahead.

Still need to file your taxes?

The deadline to get your taxes in is April 30th for Canadians. If you are expecting a tax return consider using it toward RESPs to help your children with their future.

About RESPs

Did you know your RESPs savings grow tax-sheltered?

The federal government will contribute to your RESPs for children under 17  (Canada Education Savings Grant “CESG”). Your child can take money out of the RESP when they enroll in university or college or another qualifying education program or specified education program.

I know this all seems like a lot to think about. We hear all these terms and see our friends investing and saving, yet we are still unsure what is best for us. I can tell you from experience kids grow up fast and before you know it they will be looking at starting their future. You can start by helping them now. Heritage Education Funds representatives can help you with your goals.



Heritage Education Funds (Heritage) specializes in Registered Education Savings Plans (RESPs).  They are one of Canada’s leading RESP experts with 50 years of experience in helping families save funds for their children’s post-secondary education. Their Group RESPs are pooled funds where your contributions are combined with those of other subscribers, offering you a wider range of investment opportunities as well as benefiting over time from compounded interest.  Heritage manages over $2.3 billion in assets and has already assisted over 460,000 Canadian families in sending their children to post-secondary education.

Heritage Education Funds Inc. has been helping Canadian families since 1965. Their RESP Representatives pride themselves on exceptional personal service, and their over 1200 reps speak your language, including French, Cantonese, Mandarin, Punjabi and Hindi.

I know my children will change their minds many times before they make their final career choice. They may even be midway through post-secondary school by the time that happens. At least with RESPs they will be on the right path and have the time and finances to make the choice that is best for them. As parents we need to do everything possible now to help them with their future and not wait until it sneaks up on us!


Some promotions you may be interested in

Annual RESP Draw

Win! $20,000 in contributions towards RESPs to be given away! Their Annual RESP draw offers you a chance to win 1 of 8 contributions of $2,500 towards a Heritage Education Funds RESP . Draw date is December 31, 2015.

Join The Conversation

Win a $100 Mastercard gift card! Simply tweet or share an image of the front cover of any Heritage Education Funds 2014 material with a hashtag

#ShareHeritage between Thursday, January 1st and Thursday, December 31st to enter. One lucky winner will be drawn every quarter of the year.

Start Early. Save Often. Stay Invested. Embrace the Future.


Disclosure – This has been a sponsored conversation brought to you by Heritage Education Funds. All opinions are my own


  1. mommakoala says

    It's so important to think ahead. My daughter is now 28 and just married. If I didn't start a financial plan for her future I would have been scr***d. Her educational finances and her wedding came easily.

  2. Thanks for this! We have RESPs through our bank for all our 3 kids but I need to look into this as well. Any savings is a good thing and educations are expensive. I love their contests too, what great prizes!

  3. I started RESPs when my kids were born and so glad I did. My daughter is going to school in 2 years and I'd hate to have to try to figure out how I would pay for it.
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  4. cgrandy823 says

    We were able to save for a couple years of education for each of our children, but I wish we had been able to save more. (By the way, when my daughter was in preschool, she wanted to be a teacher, but she said she'd have to live near me so I could drive her to work. She hadn't realized that when she was old enough to be a teacher, she'd also be old enough to drive!)

  5. I need to start very soon. Having three kids is very overwhelming when I think about their futures. Thanks for sharing all this info

  6. kelseyapley says

    I haen't heard of this! We are expecting our first, so it gives me something to think on! Thanks for sharing!

  7. Robin Masshole Mommy says

    I have a savings plan for my kids college, but the fact is – they will still have to take out student loans like we did.

  8. Thanks for this great information! Financial planning has always been a weakness of mine. It makes my head spin!
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  9. i started accounts for my children as soon as they got their first monetary gift. I save even just dollar bills for their accounts.

  10. Marcie W. says

    Each of our children have their own savings account which will eventually become their college fund. I wonder if the US has any type of secondary education plan similar to this.
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  11. I need to start soon! Thanks for sharing this great information!
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  12. jenniferjuro says

    I am so far behind on my kids savings.We have small savings I need to get them rolled into an official plan.
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  13. We have one graduating college so we know the ins and outs of college and it's expenses nowadays first hand. Setting money aside will definitely help if you plan on helping with education costs.

  14. It never ceases to amaze me just how many people will avoid finances just because it seems so daunting to them. They are really not all that hard if you just take a little time to understand how it works!

  15. You should really get a jump on teaching children finances. It really will help them when it comes to important things such as balancing a check book or filing taxes.

  16. I am learning now just how much I wish I would have planned better. But I am starting now to do what I can.
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  17. This is an awesome idea! My children have savings accounts that we contribute to. We set them up ourselves when each was born.
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  18. wasdwriter says

    It's important for parents to help build their child's future as best they can. My mom started a college fund for me when I was born, and that paid for half of my schooling!

  19. Kelly Hutchinson says

    My daughter is a sophomore in high school and we are curently having this conversation. Thanks for the great informaiton.

  20. About RESPs is so very interesting! I so wish I could have taken advantage of this for our son when he was younger – these are some great ideas, really – thank you for sharing 🙂
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  21. I think each child is different in so many ways. My daughter that is 16 already has plans to try to get a scholarship to college while my 18 year still hasn't decided what she wants to do.

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