Youth Fair Gains

Program Outline

Youth Fair Gains is a free program. The program offers youth living in low-income situations the opportunity to save towards an asset and gain money management skills. It is a 1-year program with the option of cashing out up to 2 years after program completion.

How It Works

• You open and hold a bank account in your name and have total control over the account.
• You deposit between $15-$50 per month for one year, saving up to a total of $600.
• You attend regular workshops, peer group meetings and one-on-one consultation sessions learning how to manage your money.
• After one year, your savings are matched at a 3:1 ratio ($3 for every $1 saved).
• You decide on and purchase your asset within 2 years of finishing the program using your saved dollars and the matching dollars.
• You gain money management skills for life!

Assets you can purchase include:

• Training or education toward a career
• Education for a child
• Starting or expanding a business
• Tools for work

Benefits to You

If you save the full $50 every month, you will have $600 in savings at the end of the program and $1,800 in matched savings from Momentum - a total of $2,400 to put towards the purchase of one of the specified assets.

You will learn money management skills for life!

Who Can Apply?

You can apply if:

• You are 16 to 21 years old.
• You have minimal savings and assets.

Your total household income is at or below the following guidelines:

Program Dates

Classes start in the March and October every year. If you are interested in participating, call as soon as possible to get your name on the waiting list

How to Apply?

Contact Chris, the program facilitator, at 204-2686, or email youthfairgains@momentum.org for further information.

Financial Partners

This program is made possible by: