Building a Generation That Understands Money
A practical guide for parents, children, and young adults — from the first savings jar to the first Canadian investment
of Canadian parents and guardians of children under 18 were saving for their children's postsecondary education in 2025.
Source: Statistics Canada
Canada Education Savings Grant (CESG) — the government can add 20% on the first $2,500 contributed annually to an RESP, subject to eligibility.
Source: Government of Canada
Choose an Age Group
Content tailored to each stage — practical and immediately applicable
Ages 4–7 — Young Children
At this stage, children learn that money has value and that it is earned and saved. Simple concepts leave a deep impression.
Money is Earned
Teach your child that money doesn't appear from nowhere — link it to simple household tasks in exchange for a small allowance.
Try: Give your child a small weekly task in exchange for $1 or $2.
The Three Jars
Use three jars or boxes: 'Spend', 'Save', and 'Give'. This teaches financial balance from an early age.
Try: Whenever your child gets money, divide it among the three jars.
Need vs. Want
Food and clothes are needs. A new toy is a want. This simple distinction is the foundation of every financial decision.
Try: In the store, ask your child 'Is this a need or a want?'
Practical Activity
Weekly Activity: Take your child to the store with a small amount and let them choose what to buy — then discuss their decision with them.
Parent Tip
Parent Tip: Don't give money on demand only — always link it to the concept of earning and deserving.
Invest in Your Child's Future Today
The Canadian government adds 20% to what you save — this is free money that should not be missed
Canada Education Savings Grant
The government adds 20% on the first $2,500 you contribute annually — meaning $500 free every year per child.
Canada Learning Bond
For lower-income families: $500 at opening + $100/year until age 15 — with no contribution required from you.
Tax-Sheltered Growth
Investments inside RESP grow tax-free. When withdrawn for education, tax is calculated on the student's income — usually zero.
Want to open an RESP for your child or learn more about available investment options?
Talk to an RESP AdvisorFinancial Literacy Articles
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ETFs (Exchange-Traded Funds) — The Complete Guide for Canadian Investors
What ETFs are, how they work, their types, how they compare to mutual funds, and how to choose the right fund for your financial goals in Canada.
Common Questions
Answers to the questions parents ask most
Start Your Family's Financial Planning Journey
From RESP for your children to RRSP for your retirement — we help you build a comprehensive financial plan that fits your family