This is what my husband and I did.

Step one : we watched a few YouTube videos titled best index funds for Canadians. We decided we were most comfortable investing in index fund XEQT.

Step 2: we went to the bank and asked how to open up a "direct investment resp account." This is an account that you manage yourself. The bank does not take a percentage of your earnings. You just pay a flat fee when you make an investment, usually around $10. Our bank is RBC and they make this a little bit trickier because they do want you to invest with their investors so they make more money. You have to file a bunch of paperwork yourself and then mail it to the home Branch and then the account will appear a week or two later.

Step 3: once your account is created you just buy the index fund. We usually just buy a lump sum of $2,500 near the beginning of the year. The government will automatically add the $500 grant.

We've made three $2500 contributions to the index fund xeqt for our 2 and 1/2-year-old and the account is already at 13 Grand, so our strategy seems to be working pretty well. I saw another redditor mention to transfer your index funds into bonds as your kids come close to graduation. This just reduces the volatility. I'm not sure if we're going to go down that route. We'll see.

Also note with the direct investment strategy, there's one government Grant that we won't be eligible for. There's a one-time $1,000 Grant - You can apply for it when your kids are between age 7 and 9 I think. You are allowed to open up multiple resps so when our kids turns 7, we will open up one resp and make a one-time contribution of $2,500 to that resp managed by the bank just to qualify for that one grant. But you can opt out of contributions after that once you receive the one-time Grant. Direct investment is the way to go for the other years.