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Matched Savings

Earn while you learn! Save $1 in your bank account and earn $3 more. 

It can be challenging to navigate the world of personal finances, especially when you’re working with a limited income. 

Carya’s Matched Savings Program is a free six-month program to improve money management skills and build good saving habits. Our facilitators believe in supporting participants to build financial habits that help make the possibilities of financial stability and strong natural supports a reality.   

You’ll save $5-50 each month while you’re in the program, and you can put this extra money towards something that will help you move forward in your life – like tuition, tools for work and education, household goods, health care costs, or a contribution to your Emergency Fund. 

What to expect?

The Matched Savings Program encourages participants to set financial goals and teaches the skills needed to achieve those goals. You’ll learn about money management and good saving habits from a trained facilitator, and for every dollar that you save, you will earn an extra $3 in matching funds (up to a maximum of $900).  

During the six-month program, participants get together for a 2-hour session once every two weeks. In each session, you will learn skills and strategies related to the topic of the session and participate group discussions and reflection activities.  At the end of the program, a successful participant will have:

Is the Matched Savings program for me?

This program is for lower income adults (18+) who are looking to improve their basic money management skills and strengthen their ability to save. Please note that Carya’s Matched Savings program has age, residency and household income level requirements, and a three-step application process.

Participants must have a stable source of income, the ability to save within their budget, no debt greater than 50% of their annual income, and their low income status must not be short-term.

  • Have a Canadian Level Benchmark (English) level 5 or above. 
  • Are 18+ , a Canadian citizen, permanent resident, or has refugee status (a SIN that does not begin with 9) 
  • Can attend a 2-hour session every other week for 6 months 
  • Are able to save between $5 and $50 per month 
  • Have an Annual Household income within these ranges: 
Size of Family UnitMonthly LICO + 20%Annual LICO + 20%
1 person$3,052.60$36,631.23
2 people$3,800.32$45,603.89
3 people$4,672.04$56,064.50
4 people$5,672.43$68,069.19
5 people$6,433.62$77,203.43
6 people$7,255.96$87,071.55
7 or more people$8,078.49$96,941.92
LICO – Low income cut-off and 20% has already been added)

Is there a cost?

There is no cost associated to participating in this program.   

How do I access this program?

The Matched Savings program is offered virtually. If you’re interested in joining a Matched Savings group, please fill in the form below to begin your application process.  

I learned money management and turned my $350 in savings into $1250!

-Carya Participant

Start your application process by filling out the form below 

Please enable JavaScript in your browser to complete this form.
E.g. Citizen, PR
E.g. Married, Divorced, Single, etc.
If you are living with others, who are they?
The combined income from all earning members in the household.
Do you have current or past credit problems?
E.g. Bankruptcy, Collection Notices
If yes, please share whether payment agreements have been made
If yes, please share whether agreements are being paid as required
Have you or any family members in your household (parents, sibilings, spouse, children) previously participated in a Matched Savings program through any organization?
Do you have access to technology?
How comfortable do you feel using technology?
What are your preferences for attending the program? Select all that apply.
What program format would you prefer? Select all that apply.
How did you hear about this program? Select all that apply.
I understand that submitting this form does not guarantee acceptance into the Matched Savings program. I understand that as this program has to align with CRA guidelines, I will have to provide Carya with the required documents and speak with a Carya team member regarding the application process.