[Sylvanfan]

So having recently had my first child about 2 months ago, the government does give you the odd "rebate" to use for child care. I figured I would take this money and put it towards a college fund of some type. As you all know, I'm doomed due to my poor spending habits to have much of a future....so perhaps I should try and let the kid learn from his Dads horrific saving and spending habits.

The kid already has his own Social Insurance number. Now I remember hearing that a RESP wasn't neccessarily the best thing to do since I believe any money put towards that comes off your maximum RRSP contribution allowance. Since the basic personal claim is as high as it is, you were just as well to buy any investments in your kids name. Although truth be told at my pee poor income level, I'm not going to be putting $18,500 into RRSP's annually anytime soon and for the $1200 or so a year I'd put in over the next 18 years...I don't think missing out on $20,000 grand in unused RRSP contributions in the future is going to save me from having to work those extra 10 years.

Anyone else set up a RESP or education savings plan for their kids, and any tips?