Helping your kid with money? Framework

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Издатель Jul 19, 2026

Helping Your Kid
The order that actually makes sense
Helping your kid with money, in order

A member asked me something honest. They want to help their kid with money. They just don't know where to put it.
Fair enough. There are a dozen good options and they all sound right. Here's the order I'd actually give them.
Emergency fund first. 3 to 6 months in cash. Not really about math. It's what lets a person sleep, and it stops one bad month from turning into debt.
Then kill the high-interest debt. Paying off a 20% credit card is a guaranteed 20% return. Nothing else in this list beats that, so it comes before any investing.
The student loan is the interesting one. The federal portion has charged 0% interest since 2023. Paying it early saves nothing. Autopay the minimum and leave it. Attack the provincial portion instead, the part that still charges.
Now you invest. For someone young, the TFSA usually wins. $10,000 at 25, left alone, can pass $100,000 by retirement. The gift was never the money. It was the decades.
FHSA if a home's actually in sight. RESP if there are grandkids, the government matches 20% on the first $2,500 a year.
Two rules over all of it. Help them buy within their means. And never give past your own retirement and care. Your kid has decades to recover from a slow start. You don't.
The best version of this isn't one big cheque. It's help given over years, while you're still here to watch it land.
Join Circle if you want the full breakdown, sources included.
Educational, not personalized advice.
Calmmoneycoach.ca for more