I’ve been seeing a lot of talk about RESP accounts as if they’re only for families with extra cash to invest. But for low-income newcomers, the Canada Learning Bond (CLB) might be the real game-changer. It’s not about how much you can put in—it’s about who qualifies.

The CLB gives eligible children up to $2,000 in government money, starting with $500 in the first year and $100 annually after that. And here’s the big part: you don’t need to contribute a single dollar to get it. As long as your family income is below a certain threshold and the child is under 18, you can apply.

I’ve seen families miss out on this because they assumed RESP = high-income only. But for newcomers, especially those with low or no income, this is a real opportunity. It’s not just a savings account—it’s free money from the government that can grow over time.

So, if you’re a low-income parent or guardian in Canada, have you checked if your child qualifies for the CLB? Does your family even know it exists? And if you’ve opened an RESP, did you also apply for the CLB at the same time?

Would you open an RESP for your child even if you couldn’t contribute much? What’s your biggest concern—timing, paperwork, or not knowing where to start?