Poverty
We all have a life trajectory. Everyone should aim high.
Every path in life is unique, with many variables that can affect how high each of us rises in terms of economic potential. Education, social status, skills, intellect, networks and effort all play a role.
For thousands of Calgarians each year, Momentum plays a role, too.
Through skills training, financial literacy education and business development support, Momentum helps people maximize their economic potential. The results are individuals and families with sustainable livelihoods, who are able to contribute to their community.
The economic costs of poverty
The province of Ontario recently conducted a study on the cost of poverty. Here are some highlights of the study:
- Poverty costs $2,900 per year, per household
- Poverty costs $13 billion per year lost by governments through expenditure
- Poverty costs $13 billion in lost income taxes
Combined, the total public and private costs of poverty were equal to upwards of 6.6% of provincial GDP.
From an Alberta perspective, this represents $19.25 billion per year, equivalent to the value of the entire transportation and utilities sectors in Alberta.
If more people had higher life trajectories, less money would need to be spent on poverty-related programs. Over time, as we free the dollars spent on poverty, there is great opportunity for reinvest in productive assets such as education and infrastructure.
Each time a participant leaves Momentum, they have a higher life trajectory. They will earn more money, have higher self-esteem, and be more active in their community. Visit our results page to view further evidence of our impact.