Category: Money Management

Financial Coaching at Momentum

Do you need support with: Tracking your spending? Creating a budget? Saving for a specific goal? Creating a debt management plan? If you answered “yes” to any of these questions, you may want to sign up for Financial Coaching at Momentum. Our free Financial Coaching program offers up to five one-on-one coaching sessions. Financial Coaching can help you increase your confidence in managing your money… Read more

Connect More Vulnerable Canadians to Benefits!

On February 27th, Minister of Finance, Hon. Bill Morneau presented the 2018 Federal Budget. The budget is working towards connecting more vulnerable Canadians to Benefits by improving access and expanding programs. Some items that were highlighted are: o   Working Income Tax Benefit: increase benefit amount and accessibility o   Canada Child Benefit: increase benefit amount and accessibility o   Canada Learning Bond: Federal and Ontario government are… Read more

Calgarians risk losing out on thousands in benefits by not filing their taxes

For families living on low incomes, tax filing offers access to tax credits, grants, bonds and subsidies that can ease their financial strains—for example, a family of four with an income of $31,000 could be eligible for up to $16,000 in benefits. Many people living on low incomes mistakenly believe that because they don’t owe taxes back, they don’t need to file. Others face barriers… Read more

Building Financial Resilience for People with Mental Health or Addiction Challenges

Perhaps you’ve heard that money concerns are one of the top sources of stress for most people. In my experience, that’s certainly true. Money problems may in fact be the number-one source of stress for most people. That being said, money problems aren’t the only problems people face. Imagine that, on top of money problems, you are also dealing with depression or other mental health… Read more

RRSP or TFSA?

At this time of year there are a lot of ads out there about getting a Registered Retirement Savings Plan (RRSP) and it can be confusing. Can you imagine laughing and smiling as you learn more about both these RRSPs – and also about Tax Free Savings Accounts (TFSAs)? The “OG” – The Original Granny” may cause you to experience this reaction! Advice from Grandma… Read more

A Study on the Impact of the Changes in Payday Loan Regulation in Alberta on Borrowers

Dear Potential Participant: Have you taken a payday loan in the last three years?  If yes, We would like to invite you to participate in a research being conducted by a team from Mount Royal University in collaboration with Momentum. We are interested in talking to you about your experiences with payday loans to understand whether and how you have been impacted by the changes… Read more

Money and Marriage

We’ve all heard that finances are a major source of stress for couples, in fact, there are many articles and research that says finances are reported to be one of the top 10 reasons people get divorced. But is there really such a thing as financial infidelity? According to entrepreneur and business man Kevin O’Leary, “The biggest problem in marriage … is if one partner… Read more

Extra, Extra, Read All About It!

Momentum’s Financial Literacy Training is now approved for continuing education (Category A) credits for Social Workers! “ACE approval shows that your organization has met rigorous standards and demonstrates the ability to offer high-quality continuing education activities to social workers.” – ACE provider Yes, it’s true! We are excited to be able to offer registered social workers 12 category A credits to use toward their continuing… Read more

Re: Payday lenders down 25% under new law (Calgary Herald)

There is no doubt that new rules have significantly changed the payday loan industry in Alberta. The changes have increased the importance of alternative options for short-term credit, such as products now offered by ATB and First Calgary Financial. However, it is incorrect to assume that the supply of credit provided by these options needs to meet the demand for short-term credit prior to the… Read more

MoneyFit Challenge

Do you want to learn more about financial topics like budgeting and saving, and be entered to win money for doing so? How does $30,000 in prizes sound? The MoneyFit Challenge is a new tool to improve your financial well-being, sponsored in part by the Financial Consumer Agency of Canada and the Economic Club of Canada. You can join this free program by registering at… Read more