Matched Savings for Adults
Next session: Mon Dec 2, 2024
Save Money. Manage Your Finances. Reach Your Goals!
We know that managing and saving money can be hard, especially while living on a low income. Momentum has been supporting Calgarians to manage their money and build ongoing saving habits for more than 20 years. We can support you to start saving your money and working towards your financial goals.
Matched Savings programs are asset-building programs that support you to learn financial literacy skills and for every dollar you save in the program, Momentum matches it at a ratio of 3-1.
How does it work?
Save money and build a habit
- Build the habit of saving by depositing up to $50 each month in your own bank account.
- We support you to achieve your savings goals and keep you accountable.
Learn in class and manage your money
- Come to interactive and non-judgmental financial literacy workshops with people in similar situations as yourself.
- Together, learn about budgeting, credit, debt management, assets, and other important topics.
Earn matched savings and put it towards your future
- For every one dollar you save, Momentum matches it times three!
- Use your combined savings to improve your future through assets like education, tools for work, RESP, RDSP, housing, and more.
In a five-year reach back survey, 92% of our program graduates said they are still saving money on a regular basis. On average, participants walk away saving $110 every month.
If you are 24 or under you may be eligible for our Youth Matched Savings program! Learn more.
Matched Savings Program Success
Income Criteria
To qualify for this program, your household must be living on a low income, below the following cut-off chart (before tax).
Household Size
1 person
Monthly:
$3,052.60
Yearly:
$36,631.23
2 people
Monthly:
$3,800.32
Yearly:
$45,603.89
3 people
Monthly:
$4,672.04
Yearly:
$56,064.50
4 people
Monthly:
$5,672.43
Yearly:
$68,069.19
5 people
Monthly:
$6,433.62
Yearly:
$77,203.43
6 people
Monthly:
$7,255.96
Yearly:
$87,071.55
7 or more people
Monthly:
$8,078.49
Yearly:
$96,941.92
Frequently asked questions
When does the Matched Savings program start and how long are they?
What can I spend the matched money on?
Am I guaranteed a spot in the program if I apply?
What do I have to do to participate?
I don't have a job right now. Can I still apply?
I receive government benefits. Can I still apply?
My money is limited right now (eg: no money to save or have some debts). Can I still participate in the program?
Is this a scam? Where does the matched savings come from?
Can I take the program more than once? Can my partner/spouse take the program too?
What you will get from this course
Take-home resources
You will be provided with planning tools, worksheets, and other resources to support you on your journey.
Is this program right for you?
Do you qualify?
You are over 18 years of age
You are a permanent resident or citizen of Canada
You live in Calgary and area (or if you are Indigenous, Inuit or Metis living in surrounding Treaty 7 territory)
You are not full-time student (some exceptions apply for: English language courses, upgrading, employment training programs, etc.)
Your household is living on a low income, and it is below the income cut off in the chart above (before tax)
You have a net worth no greater than 50% of the Income Criteria stated above (some exceptions apply)
You carry debts amounting to no more than 50% of your total gross annual income (some exceptions apply)
If you have questions about these qualifications, scroll down to contact our Welcome Team
Next available info sessions
Contact our Welcome Team
Our knowledgeable Welcome Team is happy to support you. Please contact us by clicking below or by calling 403-272-9323. Inquiries and messages will receive a response within 3 business days.
Matched Savings for Adults
Save Money. Manage Your Finances. Reach Your Goals!
Dates vary
Part time
Daytime evening
Lower income, Indigenous, Program graduates, Women
Free
In person, Online
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