Save money for your child’s fu­ture – Learn how!

Stanstead Journal - - NEWS - Vis­to­ria Vanier

Inan ex­cit­ing project for the English-speak­ing com­mu­ni­ties of Québec, Ac­tions in­ter­cul­turelles de développe­ment et d’ed­u­ca­tion (AIDE) is of­fer­ing free in­for­ma­tion ses­sions on Reg­is­tered Ed­u­ca­tion Sav­ings Plans (RESPs): what they are, how to ac­cess free govern­ment money and how to make sure you find the right plan for your fam­ily while pro­tect­ing your money.

We all love our chil­dren and want them to be suc­cess­ful but it can seem im­pos­si­ble to ever af­ford col­lege, univer­sity or ap­pren­tice­ship pro­grams. How­ever, you don’t have to be rich to open an ed­u­ca­tional sav­ings ac­count called an RESP: there is up to $2000 in govern­ment money for low-in­come fam­i­lies to use to open an RESP! At all in­come lev­els, the govern­ment matches any con­tri­bu­tions you make. For ex­am­ple: for ev­ery $10 you put into an RESP, the govern­ment will put in be­tween $3 and $5.

The ses­sions, tak­ing place in towns big and small, will give ob­jec­tive in­for­ma­tion about all types of plans, the free govern­ment money avail­able to help you save and tips for pro­tect­ing your­self when you meet with some­one who sells RESPs. Did you know that grand­par­ents, aunts and un­cles and fam­ily friends can open RESPs for a child too? Plus, any­one who comes to an info ses­sion and then opens an RESP will be en­tered into a draw to win $500 with which to start their sav­ing!

On Satur­day, Oc­to­ber 29th, from 4:00 to 5:00, a free ses­sion will take place at the Haskell Free Li­brary, in Stanstead. There are also ses­sions com­ing up next month, in Len­noxville, at the Women’s Cen­tre and at Town­ship­pers’ As­so­ci­a­tion.

“In­vest­ing in an RESP can be com­pli­cated. I’ll ex­plain it in easy to un­der­stand terms, keep it ba­sic. It’s about help­ing peo­ple to take ad­van­tage of the pro­gram and not let them­selves be taken ad­van­tage of when it comes to in­vest­ing in RESP’s,” com­ment-

Photo cour­tesy

Claire Holt, of AIDE, will present the RESP in­for­ma­tion at the free in­for­ma­tion ses­sions.

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