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Financial Advisor Mona Dhawan, Thiessen Crescent, Ottawa, ON (2026)

10/24/2026

Day 18 of 90 — Financial Learning
🎓 RESP: Invest Today for Their Tomorrow
Your child may be young today, but university, college or skilled-trades education can arrive faster than you think. An RESP (Registered Education Savings Plan) can help Canadian families start preparing early while potentially benefiting from government education incentives.
💰 How the Basic CESG Works
For eligible children, the Canada Education Savings Grant (CESG) generally adds 20% on the first $2,500 contributed to an RESP each year.
That means:
You contribute $2,500 → CESG can add $500 → $3,000 goes toward education savings.
And if you can't contribute $2,500? Starting smaller can still make a difference.
$1,000 contribution → $200 basic CESG
$500 contribution → $100 basic CESG
Eligibility and grant amounts depend on applicable government rules, and unused CESG room may allow additional grants in later years.
📚 Why Consider an RESP?
An RESP can help you build money for your child's future education while investments inside the plan can grow tax-deferred. When qualifying educational withdrawals are made, certain amounts are generally taxable to the student, who may have relatively little taxable income.
The money can potentially support eligible university, college, CEGEP, trade school, apprenticeship and other qualifying post-secondary programs.
💡 Don't Make This Mistake
Many parents think:
“I'll start saving when my child is older.”
But waiting can mean losing valuable years of potential investment growth and making it harder to maximize available government grants.
You don't necessarily need a huge contribution to begin. Consistency matters.
✅ Today's Action Step
If you have children, check whether they already have an RESP. If they do, review how much you're contributing and whether you're taking advantage of the CESG available to them.
If they don't, learn about the available RESP options before choosing a provider and investment strategy.
🔑 Key Message:
Your child doesn't need you to fund their entire education today. They need you to start planning for it today.
Follow my 90 Days of Financial Learning for simple financial education designed for Canadian families.
Mona Dhawan
📞 343-254-1116
Call to discuss education savings and your family's financial goals.
For educational purposes only. RESP grants, contribution rules, investment options, taxation and eligibility are subject to Government of Canada rules and individual circumstances.

10/24/2026

*Secure Your Future with Mona Dhawan – Financial Advisor, Ottawa** ⚪

Are you planning for a stronger financial future for yourself and your family? Let Mona Dhawan guide you with trusted, personalized financial solutions.

💼 **Our Services Include:**

✔️ **RRSP (Registered Retirement Savings Plan)**
Save for retirement while reducing your taxes today.

✔️ **RESP (Registered Education Savings Plan)**
Invest in your child’s education and benefit from government grants.

✔️ **TFSA (Tax-Free Savings Account)**
Grow your savings tax-free—perfect for short- and long-term goals.

✔️ **FHSA (First Home Savings Account)**
Save smarter for your first home with tax advantages.

✔️ **Estate Planning**
Protect your legacy and ensure your loved ones are financially secure.

✔️ **Investments**
Build wealth with customized investment strategies.

🛡️ **Insurance Solutions:**
• Life Insurance
• Critical Illness Insurance
• Disability Insurance
• Health & Dental Insurance
• Visitor & Super Visa Insurance

📞 **Call Today for a Free Consultation:**
**343-245-1116**

🔷 *Smart Planning. Secure Future. Peace of Mind.*

10/23/2026

Day 17 of 90 — Financial Learning
💰 How to Create a Monthly Budget That Actually Works
A monthly budget isn't about restricting yourself. It's about knowing exactly what comes in, what goes out, and what is left for the future.
If you earn money every month but regularly wonder “Where did it all go?”, budgeting is the place to start.
📝 5 Simple Steps
1️⃣ Calculate your take-home income
Start with the money you actually receive after taxes and deductions.
2️⃣ List your fixed expenses
Rent/mortgage, insurance, loan payments, utilities, phone and other regular bills.
3️⃣ Track your variable expenses
Groceries, transportation, dining out, entertainment, clothing and personal spending.
4️⃣ Pay your future self
Include emergency savings, investments and other financial goals as part of the budget—not simply whatever happens to be left at the end.
5️⃣ Review and adjust
Your budget should change when your income, expenses or priorities change.
🇨🇦 Simple Example
Suppose your take-home income is $4,000/month.
After reviewing your spending, you discover you're spending $300 every month on dining out.
Reducing that to $150 frees up:
$150/month × 12 months = $1,800/year
That $1,800 could instead go toward an emergency fund, debt repayment, investing or another important goal.
Small decisions become meaningful when repeated consistently.
⚠️ Don't Forget Irregular Expenses
One of the biggest budgeting mistakes is planning only for monthly bills.
Car maintenance, holidays, gifts, school expenses, annual subscriptions and other irregular costs still happen.
If you expect a $1,200 annual expense, for example, setting aside $100 per month can make it far easier to handle when the bill arrives.
✅ Today's Challenge
Take 15 minutes and write down:
Monthly Income − Fixed Expenses − Variable Expenses − Savings/Debt Goals = What's Left
If the result is negative, don't ignore it. Find out which expenses can realistically change.
🔑 Key Message:
A good budget doesn't tell you that you can't spend money. It helps you decide what deserves your money.
Follow my 90 Days of Financial Learning for practical financial education for Canadians.
Mona Dhawan
📞 343-254-1116
Call to discuss your personal financial needs.
For educational purposes only. Budgeting and financial strategies should be adapted to your individual circumstances and goals.

10/22/2026

Day 16 of 90 — Financial Learning
💰 Budgeting Basics: Take Control of Your Money
Do you know exactly where your money goes every month?
Many people earn a reasonable income but still struggle to save—not necessarily because they don't earn enough, but because there is no clear plan for their money.
A budget gives every dollar a purpose.
📊 A Simple Starting Point: The 50/30/20 Approach
🏠 50% — Needs
Housing, groceries, utilities, transportation, insurance and other essentials.
🛍️ 30% — Wants
Dining out, shopping, entertainment, vacations and other lifestyle choices.
💰 20% — Savings & Debt Repayment
Emergency savings, investments, future goals and additional debt repayment.
These percentages are guidelines, not strict rules. Your actual budget should reflect your income, housing costs, family responsibilities and priorities.
🇨🇦 Simple Example
Suppose your monthly take-home income is $3,500.
Using 50/30/20 as a starting point:
Needs → $1,750
Wants → $1,050
Savings & Debt → $700
Now imagine you discover you're actually spending $1,400 on wants.
That's $350 more each month than your target.
Redirecting that $350 toward your financial goals would equal $4,200 over one year.
That's why tracking matters.
⚠️ Watch the Small Expenses
A $6 coffee doesn't destroy a financial plan.
But $6 here + $15 there + subscriptions you forgot about + frequent takeout can quietly become hundreds of dollars every month.
The goal isn't to eliminate everything you enjoy. It's to decide whether those purchases are worth what they're costing your bigger goals.
✅ Today's Money Challenge
For the next 7 days, write down every dollar you spend.
At the end of the week, divide everything into:
NEEDS | WANTS | SAVINGS/DEBT
You may be surprised by what you discover.
🔑 Key Message:
A budget isn't about saying “NO” to everything. It's about being able to say “YES” to the things that matter most.
Follow my 90 Days of Financial Learning for simple, practical financial education for Canadians.
Mona Dhawan
📞 343-254-1116
Call to discuss your personal financial needs.
For educational purposes only. Budgeting strategies should be adapted to your individual income, expenses, obligations and financial goals.

10/21/2026

Day 15 of 90 — Financial Learning
📈 Investing Basics: Make Your Money Work for Your Future
Saving money gives you a foundation. Investing gives your money an opportunity to grow over time.
But successful investing isn't about chasing the investment with the highest return. It starts with understanding your goal, timeline and comfort with risk.
💰 Common Investment Options in Canada
🏦 Savings Accounts — Easy access and generally lower risk, but typically lower potential returns.
🔒 GICs — Can provide a guaranteed rate of return when held according to their terms; liquidity varies by product.
📊 Mutual Funds — Pool money across a portfolio of investments. Risk, fees and potential returns depend on the fund.
📈 ETFs — Can provide diversified exposure to stocks, bonds or other assets. Fees and risk vary considerably.
🏢 Stocks — Give you ownership in individual companies. They can offer higher growth potential but also involve greater risk and price fluctuations.
⚖️ Risk & Return Go Together
Generally, investments offering greater potential returns also involve greater uncertainty and risk of loss.
That's why the question shouldn't simply be:
“Which investment makes the most money?”
Instead ask:
“What level of risk makes sense for when I'll need this money?”
💡 The Power of Starting Early
Suppose someone invests $200 every month for 15 years.
They would personally contribute $36,000.
At a hypothetical average annual return of 7%, compounded monthly, the account could grow to approximately $63,000.
That additional growth illustrates the potential power of compounding and consistency.
⚠️ 7% is only an illustration—not a guaranteed return. Actual investment performance can be higher or lower, and investments can lose value.
🇨🇦 Don't Confuse the Account With the Investment
A TFSA, RRSP or FHSA is an account structure—not an investment itself.
Depending on the account and provider, it may hold investments such as GICs, mutual funds, ETFs, stocks and other eligible investments.
Understanding this distinction is important when building your financial plan.
✅ Today's Action Step
Write down your three most important financial goals and beside each one answer:
How much do I need? | When do I need it? | How much risk can I reasonably take?
Only then should you decide which investment strategy may fit.
🔑 Key Message:
Good investing is not about getting rich quickly. It's about investing consistently, understanding risk, controlling costs and giving your money enough time to work toward your goals.
Follow my 90 Days of Financial Learning for practical financial education for Canadians.
Mona Dhawan
📞 343-254-1116
Call to discuss your personal financial needs.
For educational purposes only and not investment advice. Investment values and returns can fluctuate. Past performance does not guarantee future results. Suitability depends on individual goals, risk tolerance, time horizon and circumstances.

10/20/2026

Day 14 of 90 — Financial Learning
🛡️ Insurance Protection: Plan Today for a More Secure Tomorrow
We insure our homes and cars—but one of the biggest financial risks a family can face is the loss of a person's life, health or ability to earn an income.
Insurance is not about fear. It's about having a financial plan for events you hope never happen.
❤️ Life Insurance
Can provide a benefit to your beneficiaries after your death, helping with needs such as income replacement, mortgage or debt obligations, children's education and other family goals.
♿ Disability Insurance
Can replace a portion of your income if a covered illness or injury prevents you from working. For many working Canadians, your ability to earn an income is one of your most valuable financial assets.
🎗️ Critical Illness Insurance
Depending on the policy, it can provide a lump-sum benefit if you're diagnosed with a covered critical illness and satisfy the policy conditions. The benefit can give you greater financial flexibility while you focus on treatment and recovery.
🏥 Health Insurance
Can help cover eligible healthcare expenses that may not be fully covered by provincial health insurance or an employer plan.
💡 Ask Yourself This Question
Suppose your household needs $5,000 every month to cover the mortgage, food, transportation, utilities, childcare and other obligations.
If your income disappeared tomorrow, how long could your family maintain those expenses?
That's a more useful question than simply asking:
“Do I have insurance?”
Because having a policy and having appropriate coverage for your actual needs are two different things.
🔎 Insurance Needs Change With Life
Your protection needs at 25 and single may be very different from your needs at 40 with children and a mortgage.
Marriage, a new baby, buying a home, changing jobs, starting a business, divorce and approaching retirement are all good reasons to review your protection strategy.
✅ Today's Action Step
Review what you already have—including workplace benefits—and write down:
Life Insurance | Disability | Critical Illness | Health Benefits
Then ask:
What am I protecting? How much coverage do I have? How long would it last? Where are the gaps?
🔑 Key Message:
Good insurance planning isn't about buying the largest policy. It's about protecting the right risks with coverage appropriate for your family's needs and budget.
Follow my 90 Days of Financial Learning for practical financial education for Canadians.
Mona Dhawan
📞 343-254-1116
Call to discuss your personal protection and financial needs.
For educational purposes only. Insurance eligibility, premiums, benefits, exclusions and limitations vary by insurer and policy. Review the applicable contract and your individual circumstances before making a decision.

Financial Advisor Mona Dhawan

10/24/2026

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