The weather is warm and the sun is shining, and green is on our minds. No, it’s not the colour of grass or leaves, it’s money. With tax season behind us and hopefully refunds in our pockets soon, it’s time to think it through—should we save for a rainy day, or blow it all up on that dream trip to Argentina that my hubby and I have been planning since we were in our early 20s?
The kids are already developing their own perspectives on money, and these are helped along by our extended family. Every year, we visit parents and grandparents in India and the kids get a haul of cash in envelopes. This is not an unusual occurrence in a country where many older relatives not only pull your cheeks when they see you, but also hand over an envelope of money. The more infrequent the meeting, the harder the cheek pulling, and the more the cash. This quirky and under-appreciated part of subcontinent culture is called shagan, which literally means “a blessing.” And since a lot about Indian culture is based on practicality, this tradition also makes complete sense.
So every year, upon our return from India, my hubby and I talk with the kids about budgets and saving, and where the money will go. My 10-year-old usually has a plan—charity in part, and then presents for friends, Freezie Fridays in school, and the rest gets tucked away for that time when the latest Percy Jackson novel is out and her mother (that’s me) is on a “no more books” tirade.
Blessings inside an envelope sure deserve some serious thought. As do our own savings from our blood, sweat and tears money that we put away regularly. RESPs are a great way to make sure our children’s future education is secure. So take the time and do your research, and chose carefully. Here are some tips from the Government of Canada as you go about choosing your RESP provider.
Disclaimer: this post is sponsored by Heritage Education Funds Inc. As always the narrative is entirely mine. If you’d like to find out more about Heritage Group plans, you may contact a Heritage Dealing Rrepresentative here.
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