|By PR Newswire||
|August 19, 2014 06:00 AM EDT||
TORONTO, Aug.19, 2014 /CNW/ - Parents are getting the message to stop spending and start saving for their kids. According to a survey conducted by C.S.T Consultants (CST), one of Canada's largest RESP providers, parents are focused on long-term savings and won't be spending the big bucks on fancy technology, gadgets or school supplies this back-to-school season.
Almost half (47%) of Canadian parents surveyed with children under 18 say they expect to spend less than $200 on back-to-school items, with one-third of moms (33%) planning to spend less than $100. Despite all the hype from retailers, more than three-quarters (79%) of parents say they don't feel any pressure to buy new things.
Spending on summer entertainment and activities was also low this year with most families staying on budget. In general, 64% of Canadians 18+ and 65% of parents surveyed expect to have spent less than $3,000 overall on summer fun, with only 24% of parents saying they spent more than they budgeted.
Instead, parents are focusing on building their savings – education savings, to be precise. 85% believe it's more important to contribute to their child's education savings plan before buying the latest gadgets and accessories this back-to-school season, and only 28% say they aren't planning on putting money into an RESP. Similarly, only a small portion of parents say they'll spend more on after-school activities (24%), the latest technology and gadgets (12%) and back-to-school supplies (25%) than RESPs.
"Families are clearly sticking to their budgets and focusing on the future. The average cost of a year's tuition at a Canadian university in 2013/2014 was $5,772. It's only going to get higher, so every little bit you can put aside now will make a big difference," says Peter Lewis, Vice President at CST. "If you don't have an RESP set up for your child already, the back-to-school season is a great time to start. You'd be surprised by how much even the smallest contributions can grow over time. Making a firm budget to map out your spending will also help you keep costs down at this time of year and prioritize your savings."
1Statistics Canada – Budget for student life: How much will your post-secondary education really cost? April 17, 2014
Other survey findings:
- 81% of parents say they didn't have to borrow money to pay for summer fun this year
- Only 24% of parents say they know someone who isn't contributing to an education savings plan this back-to-school season
- 87% of parents say it's important to help pay for their child's post-secondary education
The Leger survey of 1,502 Canadians 18+ (with a sample size of 436 parents with children under the age of 18) was conducted between August 11-14, 2014 using Leger's online panel, LegerWeb. A probability sample of the same size would yield a margin of error of +/- 2.6%, 19 times out of 20.
The Canadian Scholarship Trust Foundation is a not-for-profit organization that has been helping families save for post-secondary education for over fifty years. As a wholly-owned subsidiary of the Foundation, C.S.T. Consultants Inc. (CST) is the distributor and fund manager of the Canadian Scholarship Trust Plans.
Focused exclusively on growing and protecting its planholders' savings, CST currently manages $4 billion in assets for over 280,000 Canadian families. CST boasts a sales force of 590 located across the country. The Canadian Scholarship Trust Foundation offers its own awards for academic achievement and community engagement to those students in their Group Plans who are pursuing graduate studies.
SOURCE CST Consultants
Eighty-five percent of companies store information in some sort of unstructured manner. In this demo at 15th Cloud Expo, Mark Fronczak, Product Manager at Solgenia, discussed their enterprise content management solution, which was created to help companies organize and take control of their digital assets.
Jan. 31, 2015 11:30 AM EST Reads: 1,754
The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
Jan. 31, 2015 11:30 AM EST Reads: 2,351
Fundamentally, SDN is still mostly about network plumbing. While plumbing may be useful to tinker with, what you can do with your plumbing is far more intriguing. A rigid interpretation of SDN confines it to Layers 2 and 3, and that's reasonable. But SDN opens opportunities for novel constructions in Layers 4 to 7 that solve real operational problems in data centers. "Data center," in fact, might become anachronistic - data is everywhere, constantly on the move, seemingly always overflowing. Net...
Jan. 31, 2015 11:15 AM EST Reads: 2,897
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
Jan. 31, 2015 11:15 AM EST Reads: 2,775
ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ -- IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's
DevOps is all about agility. However, you don't want to be on a high-speed bus to nowhere. The right DevOps approach controls velocity with a tight feedback loop that not only consists of operational data but also incorporates business context. With a business context in the decision making, the right business priorities are incorporated, which results in a higher value creation. In his session at DevOps Summit, Todd Rader, Solutions Architect at AppDynamics, discussed key monitoring techniques...
Jan. 31, 2015 11:00 AM EST Reads: 2,726
Building low-cost wearable devices can enhance the quality of our lives. In his session at Internet of @ThingsExpo, Sai Yamanoor, Embedded Software Engineer at Altschool, provided an example of putting together a small keychain within a $50 budget that educates the user about the air quality in their surroundings. He also provided examples such as building a wearable device that provides transit or recreational information. He then reviewed the resources available to build wearable devices at ...
Jan. 31, 2015 11:00 AM EST Reads: 2,480
IBM has announced software that allows people to hide or anonymize their personal information on the Web, ensuring protection from identity theft and other misuse. Developed by researchers at IBM's laboratory in Zurich, Switzerland, the software – called Identity Mixer – will enable consumers to purchase goods and services on the Internet without disclosing personal information. As consumers hand over personal details in exchange for downloading music or subscribing to online newsletters, they...
Jan. 31, 2015 11:00 AM EST Reads: 922
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
Jan. 31, 2015 11:00 AM EST Reads: 3,562
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and asse...
Jan. 31, 2015 11:00 AM EST Reads: 3,396
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
Jan. 31, 2015 10:45 AM EST Reads: 3,269
Mobile commerce traffic is surpassing desktop, yet less than 20% of sales in the U.S. are mobile commerce sales. In his session at 15th Cloud Expo, Dan Franklin, Segment Manager, Commerce, at Verizon Digital Media Services, defined mobile devices and discussed how next generation means simplification. It means taking your digital content and turning it into instantly gratifying experiences.
Jan. 31, 2015 10:45 AM EST Reads: 2,246
The Internet of Things promises to transform businesses (and lives), but navigating the business and technical path to success can be difficult to understand. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, demonstrated how to approach creating broadly successful connected customer solutions using real world business transformation studies including New England BioLabs and more.
Jan. 31, 2015 10:45 AM EST Reads: 2,726
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 31, 2015 10:45 AM EST Reads: 3,670
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core...
Jan. 31, 2015 10:30 AM EST Reads: 2,588