Registered Education Savings Plans (RESPs) come in 2nd place among the non-traditional gift choices for children
MONTREAL, Dec. 3, 2012 /CNW Telbec/ - According to a recent CROP survey
commissioned by Universitas Trust Funds, parents in Quebec are far from
being penny-pinchers when it comes to Christmas shopping. The survey
revealed that 34% of middle-class parents with a family income ranging
from $60,000 to $80,000 spend between $250 and $500 per child on
On the other hand, more than half the parents with a family income equal
to $40,000 or less intend to spend under $100 on Christmas gifts for
each child. It may come also come as a surprise for some, but mothers
seem to be the sensible ones when the time comes to establish a budget
for Christmas gifts. Nearly half of them (46%) declared that they
intend to spend less than $100 per child, compared to a 28% rate for
Cash under a Christmas tree: A gift sure to please!
As many families are struggling to make ends meet, parents-of all age
groups-seem to favour gifts in the form of cash (53%), gift
cards/certificates (45%) and clothing (44%) for their children. Among
the younger parents (18-34 age group), over half of the respondents
would like their relatives or friends to give clothes (53%) or toys
(51%) as gifts, whereas most parents from the 35-54 age group would
prefer their children receive cash (55%) or gift cards/certificates
Trips and RESPs: The most popular non-traditional gifts!
Trips and family activities are the first choice when it comes to
non-traditional gifts, with RESP investments on their trail in second
place. The survey results also revealed that house pets are a rather
unpopular gift choice.
While relatives and family friends are asking themselves which gift to
offer the children they love, six out of ten parents confirm that trips
and family activities are the best non-traditional gifts to offer their
kids. Men, however, favour the RESP as their first choice.
"In order to give a meaningful and lasting gift, it isn't surprising
that some relatives are opting for non-traditional gifts like trips or
RESP investments," says Martyn Huot, founder of the Families d'aujourd'hui network. "A trip will provide the kids with memorable moments they will
never forget. RESPs, on the other hand, can be a great gift idea for
grandparents who wish to contribute to their grandchildren's education,
or for relatives who want to think outside the box and offer an
original gift," concludes Ms. Huot.
Nearly 75% of the respondents added that they would be enthusiastic
about the idea of a family member investing in an RESP for their child
as a Christmas gift. This predilection is most significant among the
parents aged between 18 and 34 years (79%). Interestingly, the survey
revealed that the enthusiasm of Anglophone and Allophone respondents
regarding this type of gift (86%) is greater than that of Francophone
Survey results also reveal that the higher the respondent's level of
completed education, the higher the interest for the RESP as a gift
(62% for college graduates vs. 77% for university graduates).
Methodology behind the survey: The survey was conducted by CROP online via a Web panel (September 12-17, 2012) and was completed
by 1,000 Quebec residents.
About Universitas Trust Funds
Established since 1964, Universitas Trust Funds is an RESP industry
leader at the service of families across the provinces of Quebec and
New Brunswick. The company's not-for-profit structure enables it to
concentrate all efforts on providing the highest possible scholarships.
With the mission to favour the pursuit of post-secondary education
through savings and scholarships or educational assistance payments,
Universitas Trust Funds manages close to $800 million in assets and has
paid out nearly $400 million in scholarships, EAPs and returned savings
to hundreds of thousands of deserving students. To learn more about our
products and services, visit universitas.ca.
SOURCE: Gestion Universitas inc.
For further information:
or to schedule an interview with Ms. Martyne Huot, please contact:
Julie Deschambault or Lydia Juliano
514 891-8645 / 514 949-1446
firstname.lastname@example.org / email@example.com