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“The program showed me that I could make it.”
Nekesha was a part-time Registered Practical Nursing student juggling two jobs to take care of her mother and siblings. She didn’t know how she could complete the last portion of her studies, which required full-time attendance. One day she saw an ad for the Learn$ave program offered at Family Service Association of Toronto. A government research project, Learn$ave was designed to test whether financial incentives can help low-income people improve their long-term economic prospects. Learn$ave participants got budgeting training, assistance to open savings accounts and were encouraged to save up to $1,500 in order to receive three times the matching funds from the federal government.
"It was hard at the beginning. I knew how much my tuition was going to be and I worked hard to save my part. If I saved $100, I got $400 with government matching. That's an incentive!" With the money from Learn$ave, Nekesha could focus on her studies instead of loans for tuition and books. She graduated in 2004 and got a full-time job immediately. That came with a 60 per cent income increase.
Shortly after, she started saving for a townhouse, which she owns today. "Saving is a fever. It's good to see money growing in your account, so I continue to save. Learn$ave showed me that I could make it if I focus on my goals."
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