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hey guys for trip for money after graduation here to explain the RESP in three minutes I know these videos are always popular so if you want to check out the RRSP explained in three minutes or the TFSA explained in three minutes they'll be linked at the end of this video let's jump right into it the registered education savings plan is an awesome tool to save for your child's future post-secondary education like the TSA or the RSP this is a tax sheltered account to help your wealth grow furthermore the Government of Canada offers a number of incentives to encourage you to stay within it the main one is the Canada education savings grant or the C ESG this matches up to 20% of your contributions to a maximum of $500 extra per year if you put away twenty five hundred dollars or about two hundred dollars a month into your child's RESP the government will give you an additional $500 top-up for that year the lifetime maximum of the CFC grant is 72 hundred dollars but that is seventy two hund

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