A father helping his son drive a bicycle

June is the month we celebrate Dads, and the major influence they’ve had on making us the people we are today. (Of course, your Mom has also helped shape you too, but this is Dad’s month to shine!) From teaching you valuable life skills, to showing you how to be a good person, to being your biggest fan, your Dad has been behind you (often quite literally) every step of the way. So, just in time for Father’s Day, here’s a reminder of some of the things you might want to thank Dad for.

Tax Refund as an RESP Investment

There’s almost nothing sweeter than finding out you’ll be receiving a tax refund. All that disciplined saving towards your RRSP, those charitable contributions and that meticulous filing is about to pay off in a windfall with your name on it! Well, before visions of spending sprees take over, consider the more responsible ways you could be using those ‘tax refund’ funds. You could start putting aside money towards next year’s RRSP or even put them into a savings account or use those funds to help set your child up for future success.

Coping with financial health in the middle of a crisis

The COVID-19 pandemic is impacting Canadian households, just like the rest of the world. While we’re all trying to stay healthy and safe, many of us have also been impacted financially. In this new reality, even paying for essentials such as groceries, gas and incidentals has become challenging for some. To help Canadians navigate these uncertain times the federal government has announced an $82 billion relief package to help families.

Putting aside money for your child’s Registered Education Savings Plan (RESP) may actually be easier than you may think. With a well thought out plan, putting a little money aside each month can become a part of your everyday routine. If you have grade school kids, you can even turn saving for an RESP into a family project. It’s a great opportunity to start teaching your kids about the value of money!

Start with a few grown-Up “To Dos”
Wondering where and how to start saving? Follow these simple and easy steps to get started on your saving goals.

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| CST Blog | C.S.T. Consultants Inc.

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