RESPs: The Perfect Birthday Gift!
A Special Occasion
What’s a birthday really about? Sure, it’s a time for traditional parties, cake, candles and shiny wrapped trinkets. But it’s also a rite of passage – a special acknowledgement of your child being one year older, stronger, and perhaps even wiser. For this reason, I decided to take a departure from the usual toy or gadget, and you should too! Consider a Registered Education Savings Plan (RESP).
A Gift That Lasts
Kids are constantly discovering, exploring and examining new things. This wonderful trait also explains why — after the hours we spend tracking down that trendy new doll or toy — a child quickly forgets it and moves on to their next item of fascination. Take away a key learning tool from this experience: Your child, like all children, craves to LEARN. Hint hint, parents and family members!
A Gift with Meaning
While undoubtedly your child’s friends and other family members will gift them with the latest cool toy or item of clothing, your child’s attachment to these material things will be short-lived until he or she outgrows them. Gifting your child with an RESP contribution shows them you are investing in their future. You can express all the reasons why you are proud of your child’s learning and development, and share your excitement for how education will help them achieve their dreams in the future.
A Gift You Can Live With
As a parent, your life is likely full of tales of staying up all night assembling another 60-piece spaceship, while trying to keep the dog from eating another action hero figurine. Or perhaps cleanup time after a tipped-over art kit caused a glitter explosion on the carpet. All the while, you keep planning on starting to put away a little bit here and there, for your child’s post-secondary education. Life is busy, but you know it’s a great idea and have been meaning to get to it. Ease your mind, and your sparkle-covered, spaceship-assembling fingers! Give the gift of education!
A Greater Value
It seems shocking, but children are surrounded by pressure to become consumers. Every TV commercial while they watch cartoons, every fast-food happy meal, every poster for a children’s movie – is encouraging them to want something which can be bought. While toys, clothing, puzzles and books are a part of the pleasures of life, it never hurts to teach kids the value of an experience. Whenever I ask my sister what she wants for her birthday, it’s never a “thing” – it’s always an experience. Going somewhere together with our families, seeing a new place, or trying a new activity. As adults, we know that experiences are more valuable than objects. Showing your child how much you value their future education will teach them to care about it too.
OK, You Are Right
Does what I write make sense? You see my point? Good. I can picture your sigh of relief already, as you realise gift-giving can be simpler than you thought. Open up a Registered Education Savings Plan (RESP) today, or make an additional lump-sum contribution to one you have already created. Then pat yourself on the back, smart parent that you are. You got this!