Understanding ‘Free’ Money & Navigating RDSPs & RESPs with Alan Whitton

Understanding ‘Free’ Money & Navigating RDSPs & RESPs with Alan Whitton | Debt Free In 30 | Ep 355. When a financial product is more affordable (or even free), banks aren’t too keen on promoting it or helping you access it. Why? Because they want to make money. Banks are also very good at manipulating consumers into thinking they’re getting a ‘deal’ when they’re really paying a hefty price. So, how can you know when it’s truly free money and when it’s a ploy? Enter Alan Whitton (aka Big Cajun Man). On today’s podcast, Alan gives real examples of false ‘free’ financial services and products to help us make more informed banking and investing decisions. Alan also explains how RDSPs and RESPs work and how to access income-based benefits in the two plans. Tune in for lots of practical advice!

Resources:

Canadian Personal Finance Blog: https://www.canajunfinances.com
RESP & University Expenses Page: https://www.canajunfinances.com/RESP/
RDSP Information: https://www.canajunfinances.com/RDSP
Alan Whitton on Twitter (@bigcajunman): https://twitter.com/bigcajunman
Alan Whitton (Canajun Finances) on Facebook: https://www.facebook.com/canajunfinances

3:07 Bank fees you’re not aware of
13:45 Banks upselling investments and understanding investing fees
19:44 RESPs, how they work, and free money
26:24 RDSPs & accessing income-based benefits

#FreeMoney #RDSP #RESP #Money #Banks #GovernmentAssistance #CanadianGovernment

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