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Please try again“These findings reaffirm that education remains a priority for Canadians across the country, but it also shows that outside factors are preventing them from reaching their savings goals,” CST chief executive Peter Lewis said in a news release. “Canadians are not only worried about affordability in the short term, they’re also unable to invest or save the way they want for the long term.”Canada has several vehicles for education savings, but the best option might be the registered education savings plan (RESP), which allows parents or loved ones of a child to invest up to $50,000 for their education, with the federal government matching 20 per cent of the annual investment up to $500 per year.Royal Bank of Canada estimates a user contributing $50 per week per child to an RESP would save more than $80,000 per child in 18 years.RESPs are a popular way for those looking to save, but only about two-thirds of the parents surveyed said they had heard of the plan and only 50 per cent have opened an account for their child, according to the CST survey.Few parents, grandparents and future parents consider themselves very knowledgeable about RESPs and the other saving mechanisms available to them.“There is a clear need for ongoing education around the savings vehicles available and open conversations with family and professionals around financial priorities and how to start or prioritize education savings,” Lewis said.“With government grants complementing periodic contributions and incentives like the Canada Learning Bond for modest-to-low-income families, there are so many options available to help parents get started or stay on track.”Sign up here to get Posthaste delivered straight to your inbox.Walmart Inc.’s sales in the U.S. have slowed to a rate not seen in years, stoking concern of a slowing economy south of the border.U.S. sales grew 2.6 per cent in the second quarter among stores that have been open for at least a year, the slowest growth rate in six years.The results suggest that it’s becoming harder for the world’s largest retailer to maintain its growth rate with a weakening consumer sentiment in the U.S.Walmart shares fell more than seven per cent on the news.U.S. President Donald Trump’s latest threat of 50-per-cent tariffs on $28 billion worth of Canadian goods is set to take effect just after midnight, unless officials are able to reach a trade agreement.Today’s Data: Retail sales for June, Bank of Canada senior loan officer surveyThe last bastion of pandemic-era mortgage renewals is on the horizon, leaving many homeowners with the prospect of significantly higher housing costs. Still, most homeowners don’t expect to change their living arrangements in the wake of a renewal, but a third are feeling anxious about the prospective changes. Read more here.Interested in energy? The subscriber-only FP West: Energy Insider newsletter brings you exclusive reporting and in-depth analysis on one of the country’s most important sectors.Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@postmedia.com with your contact info and the gist of your problem and we’ll find some experts to help you out while writing a Family Finance story about it (we’ll keep your name out of it, of course).Want to learn more about mortgages? Mortgage strategist Robert McLister’s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won’t want to miss. Plus check his mortgage rate page for Canada’s lowest national mortgage rates, updated daily.Visit the Financial Post’s YouTube channel for interviews with Canada’s leading experts in business, economics, housing, the energy sector and more.Today’s Posthaste was written by Pamela Heaven with additional reporting from Financial Post staff and Bloomberg.Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@postmedia.com.Bookmark our website and support our journalism: Don’t miss the business news you need to know — add financialpost.com to your bookmarks and sign up for our newsletters here Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.