November is Financial Literacy Month and the week of November 14-18 is Education Savings Week.
During the month of November there will be several articles promoting Financial Literacy available on-line and in print. It’s a good time to review your financial situation from loans and investments to income and monthly payments.
Visit this site to find a range of financial tools.
Speaking of investments, don’t forget to include your financial planning for post-secondary education for your children. If you are able to put money aside for your children’s RESPs (Registered Education Savings Plan) the federal government will match your contributions with grants, making the RESP a great way to save.
Financial Literacy month is also a good time to review the RESPs you have set up for your children. Check to see if you are eligible for the Canada Learning Bond. Even if you started the RESPs several years ago, it’s a good time to review them, just to be sure that your child has received the money they are eligible for. A recent study suggests that over two thirds of Canadian youth born after 2004 are entitled to at least $500 in Canada Learning Bond grants.
