{"id":89134,"date":"2024-08-29T10:44:52","date_gmt":"2024-08-29T14:44:52","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/?post_type=rbc_my_money_matter&#038;p=89134"},"modified":"2024-08-29T10:44:54","modified_gmt":"2024-08-29T14:44:54","slug":"back-to-school-checklist","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/back-to-school-checklist\/","title":{"rendered":"Bookbags and Budgets: Back to School Tips for Parents and Students"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/budgeting\/\">\n\t\t\t\t\t\t\t<span>Budgeting<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">Bookbags and Budgets: Back to School Tips for Parents and Students<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By Sonya Bell<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"674\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/08\/Zz04YmRlYWQyZTYxNzYxMWVmOWZlYWRhNWQ2M2JiNmFjZA.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"Happy family taking a picture together outside\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/08\/Zz04YmRlYWQyZTYxNzYxMWVmOWZlYWRhNWQ2M2JiNmFjZA.jpg 3043w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/08\/Zz04YmRlYWQyZTYxNzYxMWVmOWZlYWRhNWQ2M2JiNmFjZA.jpg?resize=300,197 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/08\/Zz04YmRlYWQyZTYxNzYxMWVmOWZlYWRhNWQ2M2JiNmFjZA.jpg?resize=768,506 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/08\/Zz04YmRlYWQyZTYxNzYxMWVmOWZlYWRhNWQ2M2JiNmFjZA.jpg?resize=1024,674 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/08\/Zz04YmRlYWQyZTYxNzYxMWVmOWZlYWRhNWQ2M2JiNmFjZA.jpg?resize=1536,1011 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/08\/Zz04YmRlYWQyZTYxNzYxMWVmOWZlYWRhNWQ2M2JiNmFjZA.jpg?resize=2048,1348 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=Bookbags and Budgets: Back to School Tips for Parents and Students &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/back-to-school-checklist\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/back-to-school-checklist\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published August 29, 2024 \u2022 6 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<div class=\"wp-block-rbc-rbc-block drop-shadow pos-rel top-line-blue block-wpr  mar-b-hlf\">\n<div class=\"wp-block-rbc-rbc-block-inner-block block-inner\">\n<h4 class=\"wp-block-heading\" id=\"h-tldr\">TLDR<\/h4>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>A new school year introduces new opportunities for parents and teachers \u2014 but those opportunities often cost money.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>From encouraging financial literacy to taking advantage of tax-free savings plans, these educational tips can help students and parents build an financial plan.&nbsp;<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>As a new year in educational begins, parents can ensure their kids are set up to cover their educational expenses, both now and in the future.<\/p>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n\n\n\n<p>A new school year is on the horizon, and it\u2019s not just kids who are facing math problems. Canadian parents are trying to navigate today\u2019s higher cost of living, while still putting money aside for their children\u2019s postsecondary education. Tuition at a Canadian university, college or trade school is higher than ever before:&nbsp;<a href=\"https:\/\/www.canada.ca\/en\/immigration-refugees-citizenship\/services\/new-immigrants\/new-life-canada\/education\/types-school\/post-secondary.html\" target=\"_blank\" data-dig-id=\"LP-89134-41e29139\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"between $2,500 and $11,400 a year\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">between $2,500 and $11,400 a year<\/a>, depending on the school and program.<\/p>\n\n\n\n<p>Doing some financial planning now can help ensure your child will be able to proudly walk across a graduation stage in a cap and gown. Involving them in the process will give them a deeper appreciation for the opportunity to attend postsecondary school and set them up to manage their own finances as independent young adults.&nbsp;<\/p>\n\n\n\n<p>Here are four tips for parents and students.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Encourage financial literacy&nbsp;&nbsp;<\/h2>\n\n\n\n<p>Starting&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/how-young-is-too-young-to-teach-kids-the-truth-about-money\/\" data-dig-id=\"LP-89134-aa7d90ec\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"conversations about money with your children\" class=\"rbc-link-format\">conversations about money with your children<\/a>&nbsp;early on can help them to build an understanding of finances and make the subject less daunting for both of you. The start of a new school year is a natural opportunity to begin or continue these conversations. And if you haven\u2019t started talking to your kids about financial planning, you\u2019re not behind; it\u2019s never too late to start the conversation.<\/p>\n\n\n\n<p>When you cruise the aisles together during your back-to-school shopping trips, try integrating money into casual conversations, like pointing out why some products cost more or less than others, and asking them to imagine the reasons why. Set a budget for a desired purchase, like a new backpack, and invite them to find one they like within that range. When money and budgets are introduced early on, in a low-pressure situation, they seem manageable, rather than something to be feared.<\/p>\n\n\n\n<p>If your child has earned any money over the summer, like from a garage sale or mowing a neighbour\u2019s lawn, take them to a bank to&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/accounts\/youth-student-banking.html\" data-dig-id=\"LP-89134-05ee1ba5\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"open their first savings account\" class=\"rbc-link-format\">open their first savings account<\/a>\u2014it\u2019s an exciting milestone they can take pride in.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Grow your money&nbsp;&nbsp;<\/h2>\n\n\n\n<p>Back-to-school season is a good reminder to make the time to open a&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/investing-academy\/what-is-an-resp-and-how-does-it-work-key-things-you-need-to-know-about-this-popular-savings-tool\/\" data-dig-id=\"LP-89134-010ae5e8\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Registered Education Savings Plan (RESP)\" class=\"rbc-link-format\">Registered Education Savings Plan (RESP)<\/a>&nbsp;for your child if they don\u2019t already have one. Parents (and other loved ones) can open an&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/investing-academy\/what-is-an-resp-and-how-does-it-work-key-things-you-need-to-know-about-this-popular-savings-tool\/\" data-dig-id=\"LP-89134-a48621c3\" data-dig-label=\"RESP&nbsp;\" data-dig-action=\"link click\" data-dig-category=\"LP\" class=\"rbc-link-format\">RESP<\/a> at no cost as soon as a child is&nbsp;born, provided they have a Social Insurance Number (SIN) for the child . This tax-sheltered plan can help you save for postsecondary education over time, with direct assistance from the federal government: the Canada Education Savings Grant (CESG) matches your contribution by 20 per cent, up to $2,500 a year.<\/p>\n\n\n\n<p>You can open an RESP online or at a branch, and an advisor can help you understand the best investment options for your needs. They can also set up a&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/investing-academy\/what-it-really-means-to-pay-yourself-first\/\" data-dig-id=\"LP-89134-90077f21\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"pre-authorized contribution\" class=\"rbc-link-format\">pre-authorized contribution<\/a>, so you add a little money each month without even thinking about it and maximize the government\u2019s matching funds.&nbsp;The child will have access to RESP savings once they\u2019re enrolled in a postsecondary&nbsp;school.&nbsp;<\/p>\n\n\n\n<p>Canadian residents with a Social Insurance Number (SIN) who have reached the age of majority \u2013 either 18 or 19, depending on the province \u2013 can also open a&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/investments\/tfsa.html\" data-dig-id=\"LP-89134-8ca29258\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Tax-Free Savings Account (TFSA)\" class=\"rbc-link-format\">Tax-Free Savings Account (TFSA)<\/a>. This complementary savings tool may be of interest to both parents and students. Your money grows tax-free in a TFSA and can be withdrawn at any time without penalty, making it appealing for anyone who might be considering how to fund a gap year.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Shop smart&nbsp;&nbsp;<\/h2>\n\n\n\n<p>Families can set a good precedent by sitting down together every fall to make a&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/smart-saving\/back-to-school-shopping-thats-easy-on-your-wallet-and-the-planet\/\" data-dig-id=\"LP-89134-f35727de\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"back-to-school shopping&nbsp;list\" class=\"rbc-link-format\">back-to-school shopping&nbsp;list<\/a>. Creating a detailed list of what you need in advance\u2014 supplies, clothes etc.\u2014can help to avoid impulse purchases while taking stock of what you already have helps to stay away from excess buying. If you\u2019re part of a&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/rbcrewards\/index.html\" data-dig-id=\"LP-89134-dcb1479b\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"loyalty program\" class=\"rbc-link-format\">loyalty program<\/a>, it may be worthwhile to see if there are any relevant offers that might provide some useful perks.<\/p>\n\n\n\n<p>Parents may also consider drafting a budget for the whole school year, to capture the full breadth of upcoming expenses\u2014things like pizza days, class trips, extracurricular activities and birthday parties.&nbsp;You&nbsp;and your child can also&nbsp;<a href=\"https:\/\/www.mydoh.ca\/?shortlink=rbcsite&amp;c=RBC_Internal_Promotion&amp;pid=Landing_Page&amp;af_xp=email&amp;source_caller=ui\" target=\"_blank\" data-dig-id=\"LP-89134-2e57bc18\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"track your spending\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">track your spending<\/a>&nbsp;to see how your expenses add up and to help you stay within your designated budget.&nbsp;<\/p>\n\n\n\n<p>By the time your child is getting ready for college, university or trade school, they\u2019ll be ready to tackle a much more complex version of their school budget.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Do your research&nbsp;&nbsp;<\/h2>\n\n\n\n<p>This September, and throughout the school year, both parents and students have an important role to play in managing the financial costs of education and planning for postsecondary school.<\/p>\n\n\n\n<p>Students should understand the&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/school-and-career\/going-to-college-or-university\/budgeting-for-your-post-secondary-experience-at-home-or-away\/\" data-dig-id=\"LP-89134-f6376497\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"true cost of schooling\" class=\"rbc-link-format\">true cost of schooling<\/a>, and you or your child might want to start thinking about funding postsecondary options. Your child should begin to research schools and programs that interest them, scholarships they might be eligible for and the availability of loans (if needed). They should also look into the off-campus housing markets in different cities\u2014how easy or difficult will it be to find an affordable place to live?&nbsp;<\/p>\n\n\n\n<p>It\u2019s important to be honest with kids about what you can afford, the role of student loans, and how costs will be split between yourself and your child. As they are preparing for school, big questions to ask your child include:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Will you be living at home or away during the school year? How about over the summer?&nbsp;<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Will you work part-time during the school year or over school breaks?&nbsp;<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Do you want to consider taking a gap year to have new experiences or to make money?&nbsp;&nbsp;<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>If you have specific questions about how to set your child up for postsecondary success, or how to budget for an upcoming move to a postsecondary school,&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/book-an-appointment\/book-an-appointment.html\" data-dig-id=\"LP-89134-f39e9121\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"an advisor can help guide you\" class=\"rbc-link-format\">an advisor can help guide you<\/a>.<\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapsefd6d24c5\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapsefd6d24c5\" data-dig-id=\"LP-89134-fd6d24c5\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Disclaimer\"><span>Disclaimer<\/span><span>Disclaimer<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapsefd6d24c5\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>Financial planning services and investment advice are provided by Royal Mutual Funds Inc. (RMFI). RMFI, RBC Global Asset Management Inc., Royal Bank of Canada, Royal Trust Corporation of Canada and The Royal Trust Company are separate corporate entities which are affiliated. RMFI is licensed as a financial services firm in the province of Quebec<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-343c892e-3985-44c5-b76c-06021ce73d2f\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=Bookbags and Budgets: Back to School Tips for Parents and Students &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/back-to-school-checklist\/\">\n        <img decoding=\"async\" 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id-fa74d0f8-0e5d-4198-84de-52b55cde308a\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/budgeting\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Budgeting<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/education\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Education<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/paying-for-school\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Paying for School<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/tfsa\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">TFSA<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading mar-b mob-mar-b-dbl mar-t-0\" id=\"h-read-this-next\">Read This Next<\/h2>\n\n\n\t\t\t<div class=\"related-posts-type-2\">\n\t\t\t\t<div class=\"related-post-list\">\n\t\t\t\t\t<ul class=\"grid-wpr eh-wpr\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"584\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/04\/Investing-and-Saving_1856x1058.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"A 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href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/banking-basics\/budgeting\/\">\n\t\t\t\t\t\tBudgeting\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/banking-basics\/budgeting\/2026-financial-roadmap-aligning-your-budget-borrowing-and-investments-to-your-goals\/\" class=\"card-title h4 mar-t-0\">2026 Financial Roadmap: A Guide to Debt, Budgeting and Investing in Canada<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-343c892e-3985-44c5-b76c-06021ce73d2f {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-343c892e-3985-44c5-b76c-06021ce73d2f {\n\t\t\theight: 30px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-fa74d0f8-0e5d-4198-84de-52b55cde308a {\n\t\theight: 60px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-fa74d0f8-0e5d-4198-84de-52b55cde308a {\n\t\t\theight: 30px;\n\t\t}\n\t}\t<\/style>","protected":false},"excerpt":{"rendered":"<p>A new school year means new opportunities for parents and students, which includes building a budget that aligns with educational goals. From tools to encourage financial literacy to tips for shopping smarter, this back-to-school guide cover all the financial basics. <\/p>\n","protected":false},"author":80,"featured_media":89136,"parent":58194,"menu_order":0,"template":"","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[517,81,85,94],"rbc_content_type":[31],"rbc_audience":[],"rbc_lob_group":[71],"rbc_difficulty_level":[33],"rbc_mmm_category":[303,348,395,393,312],"class_list":["post-89134","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-budgeting","tag-education","tag-paying-for-school","tag-tfsa","rbc_content_type-article","rbc_lob_group-investments","rbc_difficulty_level-beginner","rbc_mmm_category-goals-aspirations","rbc_mmm_category-going-to-college-or-university","rbc_mmm_category-ideas-and-motivation","rbc_mmm_category-inspired-investor","rbc_mmm_category-school-and-career"],"acf":{"contently_publication_id":"","custom_author":"Sonya Bell","rbc_video_header":"","rbc_media_duration":"","rbc_video_keywords":"","rbc_video_description":"","rbc_video_upload_date":"","rbc_toc_for_mmm_tag":"h2","rbc_toc_for_mmm_limit":6,"rbc_toc_for_mmm":null,"rbc_toc_for_mmm_action":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<meta name=\"description\" content=\"The start of the school year is a perfect time to introduce concepts like money and budgeting to your kids, and to check in on your savings plans for their postsecondary education.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/ideas-and-motivation\/back-to-school-checklist\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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