Sharing Money Experiences
SEED’s Saving Circle Program provides an opportunity for low-income Winnipeggers to save for an asset they need. Their savings are matched at a rate of 3 to 1 towards its purchase. Participants attending the 10-week program learn budgeting skills and other money-related topics, such as credit, through the Money Management Training.
Completion of the Saving Circle Program enabled Kenneth Savage to purchase a new bed, a new computer and an apartment-size freezer.
“It feels good,” says Savage. “I always knew how to budget but with this program I learned how to cut on expenses. It was an eye-opener. I never missed any classes; I was there for all ten of them,” adds Savage, who appreciated the group interaction and the instructor’s clear, and straightforward teaching style.
“This program is obviously a huge benefit to people,” says Jacob Carson, Coordinator with the Asset Building Program. A new bed, which Savage would otherwise have had difficulty purchasing, helped him with his chronic back pain.
I always knew how to budget but with this program I learned how to cut on expenses.
“Our participants get a lot out of being able to share their experiences around money. This sharing of knowledge and tips is beneficial by giving them valuable information but also by valuing the information and experience they bring to the class.
“Since many of our participants have lived on a fixed income for a long time they have all come up with unique and clever ways to cope with living in poverty. The sharing of these stories is of as much benefit to our participants as what the facilitators have to teach,” adds Carson, emphasizing participants’ vast knowledge and experience.
Savage is thankful for the program. “SEED had everything there. Childcare, free coffee and tea, biscuits, fruit; there was always something on the table. The experience was positive and very rewarding. I’d recommend this program to anybody.”