Saving a chunk of the money that you earn for your child’s education is something that most people do not even think of because they are too busy dealing with the basic expenses of their living, healthcare, clothing and food. However, most parents don’t pay much attention to the education savings until it is too late and they have to work extra hard to save up and cut back on their own necessities to help their child out in getting the education plan. However, if you are someone who has no idea whatsoever about these things but want to learn so as to provide your children with a more secure and stable future then you should consider signing up for an RESP i.e.
Registered Education Saving Plan, it is what the name states, you are setting aside money for your child’s future education expenses so that you do not have to worry about it when the time comes for your child to start college. These are also known as college funds. If you are looking for a good plan or company that is offering education plans or college funds then you should consider Knowledge First Financial. With that said, following are all the things that you need to know about Knowledge First Financial and Registered Education Saving Plan, check them out below.
You can start this plan at any point in time without a problem. However, it is best if you do it while your child is still a toddler because it will give you plenty of time to set aside money. Some people do not even wait for the child to arrive in this world and start saving up for their college education way before and that is great because it is a sign of good parents who want their child to have the best of everything.