Moneywehave.com View Learning

5 Ways to Save for Your Child's Education

Details: As soon as Scarlett was born, I took immediate steps to set up her Registered Education Savings Account (RESP). I knew that this was the best way to save for her post-secondary education since the Canadian Education Savings Grant (CESG) would match my contributions by 20% up to a maximum of $500 a year. There’s honestly no better guaranteed

› Verified 9 days ago

› Url: https://www.moneywehave.com/5-ways-to-save-for-your-childs-education/ Go Now

› Get more:  EducationGo Now

Everything you Need to Know About the Canada …

Details: The Canada Education Savings Grant is a government grant that contributes to a child’s RESP to help families save for post-secondary education. The program is run by Employment Social Development Canada and is an incentive program. Essentially, when a parent, family member or friend makes a contribution to a child’s RESP then the government

› Verified 9 days ago

› Url: https://www.moneywehave.com/canada-education-savings-grant/ Go Now

› Get more:  EducationGo Now

What is a Student Line of Credit

Details: A student line of credit is a line of credit meant for student use. A line of credit is a loan that allows you to borrow money and pay it back repeatedly, up to a set limit. So, for example, if you have a line of credit with a spending limit of $10,000 and use $3,000 of that value, you only have to pay back the $3,000 (plus applicable interest

› Verified 1 days ago

› Url: https://www.moneywehave.com/what-is-a-student-line-of-credit/ Go Now

› Get more:  EducationGo Now

Financial Aid for Canadians Looking to Study Abroad in …

Details: While Canada has a fantastic higher education system, many Canadian students may choose to go to the United States to attend college. Of course, American colleges and universities can be prohibitively expensive, making it difficult to finance a college degree in the U.S. With tuition costing as much as $40,000 per year at some private universities in the United States, funding …

› Verified 3 days ago

› Url: https://www.moneywehave.com/financial-aid-opportunities-canadians-looking-american-education/ Go Now

› Get more:  EducationGo Now

Canadian Student Loan Options

Details: The cost of a post-secondary education seems to be increasing every year; fortunately getting a Canadian student loan is a pretty straight forward process through the Government of Canada. The federal government essentially offers 2 Canadian student loan programs to help with your education costs. They of course don't just give loans away, you …

› Verified 8 days ago

› Url: https://www.moneywehave.com/canadian-student-loan-options/ Go Now

› Get more:  EducationGo Now

What Happens to Unused RESP

Details: Collapse the RESP. Depending on the situation, it may make more sense to withdraw any unused RESP right away so you might as well get on with it. Any unused government grant money such as the CESG, CLB and provincial grants must be repaid to the government. This seems unfair to some people, but that grant money was meant for the …

› Verified 6 days ago

› Url: https://www.moneywehave.com/what-happens-to-unused-resp/ Go Now

› Get more:  EducationGo Now

Understanding Credit and Credit Cards as a Student

Details: *This is a sponsored post written by me on behalf of RBC. All opinions are my own. The financial literacy gap is widening between high school and post-secondary students - but not in the direction you might think. According to a new poll from RBC, 82% of high school students knew that paying the minimum balance on a credit card would require them to still …

› Verified 9 days ago

› Url: https://www.moneywehave.com/understanding-credit-and-credit-cards-as-a-student/ Go Now

› Get more:  High schoolGo Now

How to Manage Your Money as a New Parent

Details: We both value education so we wanted to make sure she had some money available to her if she decided to pursue a post-secondary education. The great thing about RESPs is that you can get a 20% match up to $500 every year from the government thanks to the Canadian Education Savings Grant. This is essentially free money!

› Verified 9 days ago

› Url: https://www.moneywehave.com/how-to-manage-your-money-as-a-new-parent/ Go Now

› Get more:  EducationGo Now

The Cost of Raising a Child in Canada

Details: Registered Education Savings Plan. Setting up an RESP isn’t mandatory, but I would consider it a cost of raising a child in Canada. You can get $500 free every year through the Canadian Education Savings Grant. The grant gives you a 20% match on the first $2,500 you save every year until your child turns 17 with a lifetime maximum benefit of

› Verified 6 days ago

› Url: https://www.moneywehave.com/the-cost-of-raising-a-child-in-canada/ Go Now

› Get more:  EducationGo Now

TD Rewards Guide How to maximize your points

Details: How to redeem TD points for higher education. A few different bank rewards programs allow you to use points on investments, but TD gives you the option to use your points on higher education. It can be a bit complicated since you have to buy HigherEdPoints Education Credits with your points first. HigherEdPoints is an organization that has

› Verified 9 days ago

› Url: https://www.moneywehave.com/td-rewards/ Go Now

› Get more:  EducationGo Now

RRSP Deadline, Contribution Limit, and Tax Deduction

Details: The deadline for contributing RRSPs is 60 days after the end of the year. So, that means the RRSP deadline for 2023 is March 1 st. Note that even though the deadline is in 2023, you can use any contributions made before March 1, 2023, for your 2022 or 2023 tax year. Keep in mind that RRSPS have an age limit. The RRSP deadline is December 31 of

› Verified 9 days ago

› Url: https://www.moneywehave.com/rrsp-deadline-contribution-limit-and-tax-deduction/ Go Now

› Get more:  EducationGo Now

A Year of the Second-Hand Economy

Details: According to Kijiji’s 2018 Second-Hand Economy Index Report, Canadians can save an average of $825 per year buying second-hand vs. new. They can also earn an average of $1,134 by selling their second-hand goods. I actually saved even more than that this year but came up a bit short on the selling end of things.

› Verified 2 days ago

› Url: https://www.moneywehave.com/a-year-of-the-second-hand-economy/ Go Now

› Get more:  EducationGo Now

Live at Home Without Debt

Details: A little while back, a reader of mine (Suzette) commented on how it would be interesting to read a post that’s aimed at Asians. Her point was that many Asians typically live at home rent-free until they’re married and usually their parents would have paid for their education. As someone who fits that description perfectly, I totally understood what she was getting at. …

› Verified 7 days ago

› Url: https://www.moneywehave.com/live-at-home-without-debt-heres-what-to-do-with-your-money/ Go Now

› Get more:  EducationGo Now

Separate RESP & RDSP coverage coming

Details: The Canada Deposit Insurance Corporation (CDIC) is set to change how your eligible deposits are protected come April 30, 2022. But, don’t worry, none of these changes are for the negative. In fact, they address two major concerns that Canadians have had for a few years now. Deposits held in Registered Education Savings Plan (RESP) and Registered …

› Verified 5 days ago

› Url: https://www.moneywehave.com/cdic-coverage-is-expanding/ Go Now

› Get more:  EducationGo Now

When to Switch from Robo Advisor to Discount Brokerage Investing

Details: **Today’s guest post comes from my friend Kyle Prevost over at MillionDollarJourney.com. He’s am editor and writer, in addition to being a personal finance education expert. When my friends used to ask me about how to get started in investing, I used to recommend the online discount broker + ETF(s) route. It’s still the lowest-cost way to build …

› Verified 3 days ago

› Url: https://www.moneywehave.com/when-to-switch-from-robo-advisor-to-discount-brokerage-investing/ Go Now

› Get more:  EducationGo Now

Why Your Overall Financial Health is More Than Just Your RRSP

Details: The Canadian Education Savings Grant (CESG) matches contributions made to your child’s Registered Education Savings Plan (RESP) by 20% (up to $500 per year), which makes it one of the best investments available. As a parent, you would naturally want to help your children with their education, but it should only be done if you’ve got the

› Verified Just Now

› Url: https://www.moneywehave.com/why-your-overall-financial-health-is-more-than-just-your-rrsp/ Go Now

› Get more:  EducationGo Now

6 Things You Should Know About Deposit Insurance in Canada

Details: Not everything is covered. While deposit insurance protects eligible deposits in your own name, joint accounts, trust accounts, TFSAs, RRSPs, RRIFs and more; not everything is covered. CDIC does not protect investment products like stocks, bonds and mutual funds. Here is a full breakdown of what is and isn’t covered.

› Verified 7 days ago

› Url: https://www.moneywehave.com/6-things-you-should-know-about-deposit-insurance-in-canada/ Go Now

› Get more:  EducationGo Now

The Questions You Should be Asking When you First Meet a …

Details: The Canadian Securities Administrators, IIROC, and MFDA all have search tools where you can look up any potential advisor’s registration, disciplinary record, and even a transcript of their relevant education. You’ll also want to Google what designations your potential advisor has and what they actually mean.

› Verified 3 days ago

› Url: https://www.moneywehave.com/the-questions-you-should-be-asking-when-you-first-meet-a-financial-advisor/ Go Now

› Get more:  EducationGo Now

When Should You Consider Using the Services of a

Details: Her net monthly income is $4,000. In addition, Mary receives child tax benefits. She is a single mother of two primary school-aged children. Since the birth of her children, Mary has saved for her children’s education and has contributed to RESPs in the amount of $3,500, net of the available government grants. Mary also has a TFSA valued at

› Verified 5 days ago

› Url: https://www.moneywehave.com/when-should-you-consider-using-the-services-of-a-licensed-insolvency-trustee/ Go Now

› Get more:  EducationGo Now