Reach your financial goals by saving early
Young parents are juggling many financial priorities – paying down debt; establishing an emergency fund; saving for retirement, a down payment on a home and their child’s postsecondary education.
Understanding your financial situation is the first step to creating a plan that will meet all your financial goals. Save a little, as often as possible, and in the end you will reap the benefits of your commitment.
Compared with retirement, the time you have to save for postsecondary education is much shorter. That’s why it is important to choose a flexible RESP that fits into your family budget today and can change according to your circumstances. With an education savings plan from Knowledge First Financial, you could put a little away every month or a little more every year. Or, you can decide to contribute for a few years and then let your savings grow on their own.
Starting early in a child’s life will help save more in the end, but saving something is the most important thing of all.