Category: Money Management

How to invest in your child’s future

What if you could change the conversation about your child’s future? Would you? Recently, the federal government announced a payment increase to the Canada Child Benefit (CCB). You can use this increase to create some seed money to put towards your child’s education. If you open an Registered Education Savings Plan, and contribute to it, you could make a real difference in your child’s life…. Read more

Following her heart to financial wellness

“You usually start from square one. I started from a minus,” says Amy, a Blackfoot Siksika woman. Amy grew up in Fort McMurray. The legacy of intergeneration trauma that her family faced in the residential school system impacted her own experiences and as a result, she didn’t finish high school. Despite the challenges of becoming a single parent at the age of 20, and later… Read more

Momentum Webinars

Momentum Webinars are weekly webinars, featuring keynote speakers about money management and employment readiness. Every week we pick a topic that is most helpful to our community.  Upcoming June 30, 2020 @ 3:00PM MST Money Talks: Basic Needs Fund Information This webinar welcomes Taylor Johnson, Community Advocate from Sunrise Community Link Resource Centre, to learn the update on the Basic Needs Fund. Join us:… Read more

Finding a way forward in uncertainty

When Harold came to Canada in 2007, his wife was pregnant with their second child and their first child was 8 months old. A friend had told them about Calgary, so they landed in the prairies to begin their new life. Harold had left his job as a dentist in Colombia and did not speak English, so the family was starting from the beginning. “It… Read more

3 tips to get out of debt

Canadian households have a debt problem. Last year Canadians filled the most insolvencies since 2009 at 140,585 filings and this number is up 9.3% from 2018. Getting a handle of debt can be overwhelming, but here are 3 tips to get you started on tackling your debt. Step 1. Know your debt details This includes all the facts that you know about who you owe… Read more

10 Tips to Save Money at the Grocery Store

The Canada Food Price Report predicts that the average family will pay an extra $487 more on groceries in 2020 than they did last year. The report outlines a 4-6% increase in the cost of meat, a 2-4% increase for seafood, vegetables and restaurant meals, a 1.5-3.5% rise in the cost of fruit and a 1-3% increase to dairy products. This may seem like a… Read more

Power of Savings

  Now that we have finished the holiday season it is a good time to think about our personal savings. The spirit of generosity and gift giving in the holiday season is wonderful though it can often create stress by draining our bank accounts. The start of the new year is a good time to develop a budget and confirm your savings plan – plus… Read more

Financial Fitness for the New Year

A new year brings new opportunities to set goals and create resolutions. While some commit to hitting the gym more often, breaking a bad habit, or creating more work-life balance, getting in better financial shape can be one of the best goals to bring you peace of mind in the year ahead. Getting your finances “in shape” is important, and there’s no better time to… Read more

3 Ways to save when you’re between jobs

  When you are unemployed, saving money can seem impossible. Fortunately, there are still ways that you can (and should!) save every month. Each week in our free Money Management workshops we see people who are unemployed, students, or on some form of government support (e.g. AISH, EI, etc.). With a bit of learning and encouragement, they always seem to find new tools and tricks… Read more

Study: The impact of Group RESPs on families

  Momentum is working to improve investor protection for families living on a low-income – specifically around Group Plan RESPs. These products are unsuitable for families living a low-income due to the risk of unaffordability, plan cancellation, and losing one’s investment and government grants. We have seen far too many families lose their money through a Group RESP. We are asking the Alberta Securities Commission… Read more