Funding Your Child’s Post-Secondary Education

If there is one piece of advice that you can give anyone, regardless of whatever their age might be, is that in order to be successful, you need to plan ahead and think of the future. Yes, it is important to live in the present, but at the same time, if we want to ensure that we are ready for whatever life might throw at us, we need to make sure that we are always prepared. Now, your children might not understand this because they are too young right now, but as the adult and the parent, you know you need to take the necessary means to prepare your child for the future.

One such way to ensure that your child is successful in the practical world is to send them for post-secondary education, because regardless of what other people might say, post-secondary education happens to be at a completely different league of its own when compared to high school. A lot of parents fail to realize this too late and are then unable to pay for their child’s college education.

College is not cheap, and you cannot be expected to afford the many fees and costs upfront. In fact, you have to prepare a long time beforehand, and the best way to do that is to get an RESP for your child. You can start out by checking which companies offer RESPs in your area; Knowledge First Financial happens to be amongst the many companies that help provide RESPs to different families all over Canada. Given how RESPs are tax-free, you are able to better invest in your child’s future and save money more quickly as well since no tax deductions have to be made. So, start looking up companies in your area and take the first step.

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Find Out If You Qualify For an IVA or Not

If you want to find out through legal means about IVA or its eligibility then you would need to go to an insolvency practitioner or if you want to search up on your own whether you are eligible for it or not then either go to this website or search online and you would be able to find a calculator that would give you the results. There are a couple of things that will help you decide whether you qualify for IVA or not so let us look at them.

Number of Creditors

One of the most important thing that decides the matter is the number of creditors that you might have so when you are making the list or calculating your eligibility, make sure that you note down the number.

Kinds of Debt

There are different kinds of debts that apply to people so you would need to note down what kinds apply to you particularly; credit card, store card, personal loan, pay day loan, overdraft, catalogue, tax credit or over payment, gas, electric or water arrears and income tax or national insurance.

Amount of Debt

Next step would be noting down the amount of debt that you have, even if you verbally know the exact sum, it is better to write it down with the help of the material that shows the amount of debt that is on you.

Property Type

This is pretty important as the type of property that you live in matters so you would need to write down the type of property whether it is owned, rented, private rent or you live with your parents.


It matters where you live; whether you live in Scotland, England, Wales or Northern Ireland so note that down.

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