How to Save for Child’s Education (Even if They’re Still in Diapers)
Sometimes, when I’m cutting up strawberries for the tenth time in a day or stepping over scattered toys, I catch myself thinking about something that feels completely out of place in this season of life: my son’s future education.
He’s still just a baby; still learning to say his first words, still figuring out how shoes work. And yet, I’m over here researching RESPs and setting aside savings for school like it’s just around the corner.
It sounds a little wild, I know. But motherhood has this way of shifting your thinking almost overnight. The moment I held him in my arms, I stopped seeing time the same way. Everything started feeling a little more urgent. A little more precious.
And even though school is years away, I want to do what I can now; while the days are long but the years are flying.
Here’s how I’ve started saving for my child’s education; even while juggling naps, snack times, and all the baby chaos in between:
1. I Opened an RESP Sooner Than I Thought I Would
When my son was just 3 months old, I opened a Registered Education Savings Plan (RESP). Honestly, it felt way too early. But then I learned that the government offers something called the Canada Education Savings Grant (CESG)—a grant that gives you 20% back (up to $500 per year) on the first $2,500 you contribute annually.
At the time, we couldn’t afford to max it out. But we started small; $200 a month. That was our number. Just enough to get that full grant and let the money grow slowly over time. We parked it in a long-term investment fund because we won’t need it for at least 15 years.
It’s not about putting in big money. It’s about getting started. So if you’ve got a new baby and even $50 to spare? That’s enough.
(P.S. This isn’t financial advice—just what worked for us.)
2. I Realized School Costs Start Way Before University
I used to think saving for education meant saving for college or university. But then came daycare… and then the supplies. And suddenly, I realized: the spending starts long before post-secondary.
Backpacks. Water bottles. Indoor shoes. And don’t get me started on the outfits I bought for daycare that were stained within a week. I splurged because I wanted him to look cute, feel special. But in hindsight? Most of it was for me.
Now I slow down. I make a list, check what’s really needed, and remind myself that he doesn’t care if his lunch bag matches his boots.
3. I Created a Little “Back-to-School” Fund
It’s just a simple category in my budget sheet; a spot where I toss in $20 here, $30 there. Nothing major.
But my hope is that by the time kindergarten rolls around, I’ll have a few hundred dollars set aside. Not to spoil him, but to be prepared for those little expenses that sneak up; like new shoes when his feet magically grow overnight.
It’s not a big flashy savings plan. Just a quiet little cushion for the everyday stuff.
4. I Got Honest About Needs vs. Nice-to-Haves
This one was hard. Because it turns out a lot of my purchases weren’t really for him—they were for me.
Cute clothes he wore once. Fancy food containers that stayed untouched. I bought them because I wanted to feel like a “good mom.” But good motherhood isn’t measured in how many cute things we buy.
Now, I pause. I ask:
- Do we really need this right now?
- Would that money be better in his RESP or school fund?
- Am I buying this out of love, or out of guilt?
More often than not, I walk away and I feel good about it.
5. I Reflected on What My Parents Did for Me
Growing up, I never truly understood the sacrifices my parents made; especially my mom. She sold her only property just to help me go to grad school in Canada. I didn’t realize the weight of that choice back then. Now, as a mom? I do.
My parents gave up so much, quietly and without complaint, because they believed in my future. That kind of quiet strength and planning? It left a mark on me.
I want to carry that forward for my son; not with big, dramatic moves, but with small, steady ones.
6. I Made Planning a Habit, Not a Stress Spiral
I don’t have everything figured out. Not even close. But I’ve stopped waiting for “the right time” to start planning.
Now, I check in once a month. I look at how much we’ve saved, I adjust the numbers, and I keep things flexible. Some months are better than others. And that’s okay.
It’s not about doing it perfectly; it’s about doing it consistently.
7. I’m Starting the Money Conversations Early (in My Own Way)
Right now, my son’s idea of a financial discussion is pulling cash and cards out of my purse and trying to eat them. But someday, I want him to grow up hearing words like “budget,” “save,” and “education” without fear or confusion.
So I’ve started planting the seeds.
I say things like, “We’re saving for your school,” or “We’re putting money aside for later.” He doesn’t fully get it yet. But one day, he will. And when that day comes, I want money to feel like a tool in his life; not a mystery.
Final Thoughts
Saving for your child’s education isn’t about being perfect. It’s not about having thousands in the bank or knowing every investment trick in the book.
It’s about starting where you are. Being intentional. And choosing, over and over again, to think about their future; even while you’re wiping up spilled milk and dodging Lego pieces.
Because the truth is, love shows up in small ways. In packed lunches and bedtime stories and yes, in RESP contributions too.
So if you’re in the thick of early motherhood and wondering how to start?
Start here.
Start small.
Start now.
We’ve got this, Mama. One tiny step at a time.
P.S. Want a simple way to get started? Download my free checklist: 7 Money Moves to Save for Your Child’s Education Before School Starts. Print it, pin it, or tuck it in your planner—it’s mom brain–friendly and made with love.
FAQ: Saving for Your Child’s Education as a New Mom
1. When should I start saving for my child’s education?
As early as you can, truly! Even small monthly amounts add up over time. If you’re in Canada, starting early means you can maximize government grants through the RESP program.
2. What if I can’t afford to contribute much right now?
That’s okay. It’s not about the amount; it’s about building the habit. Even $20 a month is something. As your finances grow, your contributions can too.
3. How do I balance saving for school with all the current baby expenses?
Prioritize flexibility. Set up a small sinking fund just for school-related needs. Start with what’s manageable and adjust as your family budget changes.
4. Should I involve my child in money conversations?
Yes, in age-appropriate ways. Phrases like “We’re saving for school” or “We don’t need to buy this today” help build healthy money habits early on.
5. What if I didn’t grow up learning about saving—how do I know I’m doing it right?
You don’t need a financial background to make smart choices. If you’re thinking ahead and doing your best to prepare, you’re already doing an amazing job. And remember; your effort is the lesson.
