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A Registered Education Savings Plan (RESP) is a great way to make sure your children have the funds to pursue higher education after high school. Once you open an RESP, you, as well as your family and friends, can contribute funds to it whenever you’d like—up to $50,000 over the course of your child’s life.

It should not take the filing of a tax return or a death in the family to finally create order out of paper chaos so you are not forced to scramble in those critical circumstances. The chances of making costly errors are too great not to take some very simple, albeit essential, measures to get and stay organized all year long.

Saving versus paying off debt is an age-old quandary that has plagued people since the advent of consumer debt. Pose this question to a group of financial planners and the responses will be split, roughly down the middle.