If you can’t decide which type of RESP to subscribe to, talk to an advisor. Saving for education may be difficult to fit into an already tight budget, but an advisor can also guide you on ways to save for post-secondary costs. The government grant portion of RESPs is “free” money, so making regular contributions may be well worth your time.
1 Government of Canada. Information about Registered Education Savings Plans (RESPs) https://www.canada.ca/en/employment-social-development/services/student-financial-aid/education-savings/resp/info.html
2 Employment and Social Development Canada. 2014 Annual CESP Annual Statistical Review https://www.moneytalkgo.com/family-resp-vs-individual-resp/#enref-2316-2
3 CPA Canada. CPA Canada 2014 Canadian Finance Study Report https://www.moneytalkgo.com/family-resp-vs-individual-resp/#enref-2316-3