Schooling
The Schooling piggy bank is used for post secondary education. From a young age children will learn that education is very important and can be very expensive. Each year the money in this piggy bank can be transferred into a Savings Plan for your child’s education.
Do your research when looking for an educational savings plan for your child. If you live in Canada, the Canadian Government has a grant process in place (CESG) where they will contribute 20 % of the annual RESP contribution to a maximum of $500 per child per year and to a lifetime maximum of $7200 per child.
Each year, the money from the Schooling piggy bank can be withdrawn and used to “top up” an already existing RESP for your child’s education.
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First Bank Account « 4piggies.com | money, kids, allowance, finance, Jeanette Ramnarine, Piggy Banks
December 2nd, 2009
[...] received a weekly allowance divided between four piggy banks named SPENDING, SAVING, SHARING and SCHOOLING. We thought a bank account would be a great way to use the money from his SAVING piggy bank as a [...]
4 Piggies Supporting Pennies for Peace « 4piggies.com | money, kids, allowance, finance, Jeanette Ramnarine, Piggy Banks
December 9th, 2009
[...] honour of the SHARING and SCHOOLING piggy banks we are happy to be donating 10% of sales through the month of December to Pennies for [...]