Your kids may be missing out: what money are you leaving on the table?

​Many people see raising kids as one of life’s most fulfilling jobs, but in today’s world, raising a family doesn’t just take love, patience and nurturing – it also takes money.

The cost to raise a Canadian child from birth to adulthood is estimated to range from $193,000 to $250,000.

There are a range of tools and resources to help you make money plans for the future. These range from child tax benefits to programs that may help cover some of the high costs of your child’s post-secondary education like a Registered Education Savings Plan (RESP).

6 government resources that can put money on your table

Taking advantage of any of these programs can make a big difference to your family’s finances in the long run. Find out which programs you qualify for and make a plan to get started.

Fast facts

  • The average debtDebt Money that you have borrowed. You must repay the loan, with interest, by a set date.+ read full definition load per household is now $103,000. (Source: Vanier Institute of the Family)
  • Debt-to-income ratios have increased by 57% in the past 20 years. (Source: Vanier Institute of the Family)
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