Tag: banking

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

November is Financial Literacy Month

Financial Literacy Month (FLM) starts on November 1st.  It’s worth investing time and effort to improve your financial literacy, and FLM is the perfect time to do so! A great place to start is with your financial well-being. “Achieve financial well-being” is this week’s FLM sub-theme, and having a good understanding of money management is key to achieving financial well-being. People who are in control… Read more

How Much House Can You REALLY Afford?

If you ask your bank or mortgage broker this question, they will do a calculation for you based on your income and (potential) housing costs. The problem with this is it doesn’t take into account all of the expenses that come along with buying a home (things like maintenance), or other expenses like child care or saving for retirement or your children’s education. To give… Read more

Spring Clean Your Finances

Many of us tackle a deep clean of our homes during the spring months. A recent Huffington Post article shared 8 ways to spring clean your finances: Get rid of clutter! Go through your house and get rid of things you aren’t using.  A good rule of thumb is if you haven’t worn or used something in 1 year, it’s gone! Try selling items of… Read more

Enough for All Potluck

Some recipes are simple, like making toast. Some recipes are a bit more complicated, like making croissants. Others are inherently complex, like Enough for All, the city-wide, community-driven poverty reduction strategy guided by Vibrant Communities Calgary. Complex recipes do not follow a step-by-step process. In fact, Enough for All is less a recipe than a series of dishes that can create a banquet of potential… Read more

Staying Financially Healthy on a Single-Income

Many Canadians are faced with the reality of managing a household on one income. A recent Globe and Mail Article highlighted the story of someone who overnight became a single mother. She reached out to a debt counseling service which helped manage her debt load of $20,000, and to curb expensive spending habits she had developed during the course of her 16-year marriage.  Today, she is… Read more

Avoid Interest Charges, Thanks to Grace

Have you ever wondered when your credit card starts to charge you interest after you have made a purchase?  By staying within the “grace period,” or the interest free period, you avoid paying any interest charges. Here’s the basics of what an interest free grace period is: A grace period is typically 21 days long, in which you do not have to pay any credit… Read more

Catalysts for Change: Four Systems-level Initiatives

Momentum is committed to making a meaningful difference in our community. We all want to live in a community where everyone has a sustainable livelihood and a meaningful chance to contribute. We want to inspire the development of local economies with opportunities for all people. Your support helps us to accomplish this, through community economic development programs for individual participants, and your partnership helps us to… Read more

Teaching Your Kids About Money: Start Early, Start Now (part 3 of 4)

**continued from last week’s blog** Putting Money in the Bank Open up a bank account for your child and take them to the bank regularly. This helps kids to understand where money comes from and where it can be stored safely. It is important to have a relationship with your bank or credit union early, to understand that bankers are people just like you and… Read more

Teaching Your Kids About Money: Start Early, Start Now (part 1 of 4)

My dad started teaching me about money when I was only 5 years old. His wisdom of starting so young really paid off, it avoided many arguments and temper tantrums, and helped me understand money at a young age. Over the next four weeks, I will share some lessons I grew up with: Give your kids an allowance and teach them the basics of budgeting… Read more