Young families embrace RESPs but still doubt they can fund post-secondary
Most new Canadian parents say they’d rather get $5,000 than a full week of uninterrupted sleep – even though exhaustion ranks among their top struggles.
That choice sums up a cohort that prioritises financial security and education saving, but rarely feels fully confident about the future.
According to the report, 78 percent of expecting parents feel financially prepared overall, but most classify themselves as “somewhat prepared,” not fully ready.
Only 25 percent feel very prepared, while 22 percent feel unprepared to some degree.
Women are more likely to say they feel very financially prepared (29 percent), while men more often fall into the “somewhat prepared” category (62 percent).
Preparedness splits sharply by region.
Saskatchewan and Manitoba report the highest preparedness at 94 percent, followed by Alberta at 90 percent and Quebec at 89 percent.
Ontario sits lowest, with 67 percent feeling prepared and 33 percent feeling unprepared.
Atlantic Canada shows a more polarised picture, with the highest share of parents who feel “very prepared” (38 percent) but also notable uncertainty.
When asked what they would do with an unexpected $2,500, parents mainly choose balance-sheet moves over consumption.
Twenty-two percent say they would save generally, 20 percent would pay down debt, and 18 percent would direct the money to education savings through an RESP.
Another 13 percent would build emergency savings and 13 percent would set it aside for baby essentials.
Eleven percent point to housing expenses, and just 4 percent would spend on baby essentials immediately.
Expecting parents look more future-focused: 20 percent prioritise education savings, compared with 9 percent of new parents.
New parents gravitate toward short-term resilience, with 27 percent choosing emergency savings versus 10 percent of expecting parents.
Both groups align on debt repayment at 18 percent.
Regional patterns matter for plan design.
Quebec stands out with 37 percent prioritising RESPs.
Alberta leads in debt repayment at 27 percent, followed by BC and Atlantic Canada at 25 percent.
Saskatchewan and Manitoba show the strongest tilt to general saving at 41 percent.
On actual balances, parents divide between those who have built a base and those who have not started.
Thirty-six percent report at least $5,000 saved for a child’s future, while 32 percent are “not saving at all.”
Smaller groups fall into the $2,500–$4,999 (11 percent), $500–$2,499 (14 percent) and under-$500 (7 percent) ranges.
Expecting parents often lead in dollar terms: 37 percent have already saved $5,000 or more, versus 18 percent of new parents.
Yet 32 percent of expecting parents, and 27 percent of new parents, have not started saving.
Men are more likely to report $5,000+ saved (44 percent), while women are more likely to say they have not started (39 percent).
Regionally, BC tops the list with 46 percent at $5,000+, followed by Ontario and Atlantic Canada at 38 percent.
Quebec trails at 26 percent.
Saskatchewan and Manitoba show the highest share of non-savers (47 percent), with Alberta at 37 percent and Atlantic Canada at 38 percent.
Embark’s report finds that 73 percent of parents have already opened a savings account such as an RESP.
Eight percent plan to open one within a year, 14 percent want to start but cannot afford to, 5 percent have not started planning and 1 percent are unsure of options.
New parents slightly outpace expecting parents (73 percent versus 68 percent with an account), while 11 percent of expecting parents and 4 percent of new parents have not started at all.
RESP uptake runs high but uneven.
Quebec leads at 80 percent, followed by Ontario at 75 percent, Eastern Canada at 76 percent, BC at 73 percent, Saskatchewan/Manitoba at 71 percent, the West at 70 percent and Alberta at 66 percent.
Atlantic Canada and Alberta have the highest shares of parents who want to start but cannot afford to.
Yet only 33 percent of parents say they can pay for post-secondary education confidently.
Another 26 percent believe they can, but “it will be tight.”
Twenty-seven percent say they will not be able to cover costs, and 14 percent are unsure.
Quebec records the highest confidence at 49 percent, while Atlantic Canada has the highest share who say they cannot cover costs at 48 percent.
For sponsors, that combination – strong RESP use, disciplined saving behaviour and persistent doubt about outcomes – defines the real opportunity and constraint when building education-focused benefits for young Canadian families.
Embark’s Early Parent Readiness Report 2026 polled 579 online respondents across Canada, all parents or future parents aged 18–50, 90 percent of whom were millennials aged 30–45.
