Help your children succeed in life by teaching them to manage money and helping them to get an education after high school.

As a parent, you want to help your children succeed at life. When you think about their future, here are two important questions you need to ask:

• How can I help my child learn how to manage money?
  This includes knowing how to earn, save and spend money wisely. It’s at the heart of what we call financial literacy. Sadly, many young Canadians do not understand money matters well. A recent study shows that less than half of those surveyed know how to create a budget. Less than a third believe they make good spending decisions. Learn more about financial literacy.
   
• How can I help my child get an education after high school?
  Further studies and training means better success in the workplace. In 2005, the median earnings of Canadian university graduates were 92 per cent higher than those without a university degree. Employment rates for Canadians age 20 to 24 were nine percent higher for those with post-secondary education than those without. Learn more about education saving. 

The resources on this page will help you answer both of those questions. You’ll learn about financial literacy and interactive tools to help your child improve their money skills. You’ll also find information on saving for your child’s education.

Building your child’s financial literacy
What is financial literacy?
Why is financial literacy so important? 

Saving for your child’s education
How do I develop a plan to save for a child’s education?
What should I ask before choosing an education savings plan?
What is a Registered Education Savings Plan RESP?
Why is an RESP a good way to save for a child’s education ?
How can the government help me save for a child’s education?

Talking with youth about budgeting, debit card use and spending has been made easier with Make it Count for parents, an interactive money mentoring program and resource from the Canadian Securities Administrators (CSA). This program includes a parent’s guide, and an instructor’s guide to engage youth in discussions about money management.

Make it Count
The best way to instill good money habits in children is to start early. This program provides a parent’s guide, activities, and information to help parents incorporate money management lessons into their daily routine.

• Use a grocery-shopping trip to talk about the importance of planning ahead, as well as pointing out the things that can influence a buying decision.

To Make it Count you need to provide responsible money management lessons as part of your daily routine. You can do this by modeling good spending behaviour, providing financial guidance and ensuring your child practices sound money management.
 

Case studies
The costs of RESPs: Roman and Rory’s story
Finding extra money to save: The Maleks' story 

Tools
Calculator: University cost and debt
Calculator: How much do I need to save for my child’s education?