123 - Saving for Your Child’s Education

DebtMatters Podcast

English - November 02, 2023 10:02 - 15 minutes - 14.1 MB
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Previous Episode: 122 - The Different Types of Debt Licensed Insolvency Trustee Deal With

Next Episode: 124 - What Happens When You Go Bankrupt in Canada?

With the cost of living consistently increasing, many Canadians are stretched thin and trying to prioritize where their money is going. Saving for your child's education makes good financial sense and starting early means your money has more time to work for you. Canadian parents have a powerful savings tool to help.

In today’s episode, Licensed Insolvency Trustee, Derek Chase, talks about how to save for your child’s education. Derek covers these topics and more:

Benefits of starting a Registered Education Savings Plan (RESP)Family and friends contribution to your child’s RESPSetting up pre-authorized debits to go to savings each monthBenefits of compound interest received through your RESPWhen budgets are maxed out - planning in 5 year increments

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government.You can be assured you are receiving the best unbiased advice from these knowledgeable debt professionals.

About Derek Chase

Derek Chase is a Licensed Insolvency Trustee in British Columbia. He has been helping individuals and corporations restructure their debt since 1997. His areas of practice include personal and corporate insolvency including Consumer Proposals and Bankruptcy. The best part of his work is to be able to witness lives change for the better when the heavy burden of unmanageable debt is lifted.

Additional Resources Chase & Associates Licensed Insolvency Trustee Spring into Savings: Way to Save Money and Reach Your Financial Goals Help With Student Loan Debt