As parents-to-be (no matter how many babies you’ve had), there are so many things going on in our minds and our lives before their arrival. Wondering and worrying, trying to make sure we have everything prepared for when they’re born. Often, because of this, we don’t think beyond those first few days or weeks in our precious new bundle’s life.
When we brought our newest baby Jonathan home, it was not what I expected at all. He was very different than his two older brothers were as babies, and nothing could have prepared me for it. Jonathan was fussy and had a few other things going on, which worried the public health nurse enough to have us rush him to the clinic when he was only three days old and had me in tears.I just wanted my new baby to be normal, and for him to be okay, which he was at that point. But when he was two months old, we had to deal with more worry. He was diagnosed with a fairly rare medical condition and we dealt with consultations and skull surgery, all within a three-week time period. The good thing is, now he’s healthy, healing, and thriving, we can move forward and think about his future.
Save For Their Future with the Alberta Baby Bundle
We’ve always hoped that part of our children’s futures will include post-secondary education of some sort. I have my degree in nursing, and I met my husband at the University of Alberta when he was starting his Crop Sciences in Agriculture degree. It has always been very important to us to help our children save for their future, and you can too with the Alberta Baby Bundle at ATB Financial. By opening up an RESP with ATB Financial for your children under 2 years, and by setting up recurring transfers, ATB Financial will offer a $150 savings booster, some freebies, and the opportunity to start saving at and supporting local businesses such as AMA, Montana’s, Goo Goo Baby and Rocky Mountain Soap.
With potentially three children to get through post-secondary education, we’ll need all the help we can get!
What is an RESP and Why Should You Have One?
RESP stands for Registered Education Savings Plan, which is basically a savings plan that makes it easier to save money for a child’s education. Any money you deposit into an RESP grows tax-free until it’s withdrawn. The student will need to claim the money that comes out of the RESP as income; students will generally be in the lowest tax bracket so this income will likely have minimal impact.
When you invest in an RESP for your child, that RESP may also be eligible for education savings grants. Last year the average post-secondary tuition in Alberta for an undergraduate degree was $5,730, so our children will need as much financial assistance as they can get by the time they get to university, and that doesn’t even include their cost of living while attending post-secondary institutions.
I’ve spent enough time worrying about Jonathan in his first few months of life, I don’t want to worry about paying for his education all at once in the future.
Disclosure: This blog post was sponsored by ATB Financial and I received compensation as a thank you for my participation. This post reflects my personal opinion about the information provided by the sponsors.