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Thrive Pulse: 80% of Thrive Users are using RESPs

Ema Brazdeikyte

Contributing Writer at Thrive Savings

It’s about that time of year where future post-secondary students are accepting their offers to their dream schools, and with that comes questions about financing. Every two weeks, we survey 100 of our users, on all things money-related!

This week we asked our users (with children):

Question;

How are you saving for your child’s education?

Results;

  • 80% of our users are taking advantage of RESPs to finance their child’s education
  • 20% of our users are financing their child’s education on their own

A majority of Canadians (56%) are not taking advantage of the RESP –  this is surprising considering how beneficial opening an RESP is. You essentially get free money for saving for your child’s education! However, we are thrilled to see that our users are optimizing their finances, with a staggering 80% of those surveyed taking advantage of RESPs.  Here at Thrive, we are all about finding opportunities to save in order to make life just a little easier.

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