Customers
Workplace
Environment
Communities
How We Operate
85
CASE STUDY Spotlight on Money Matters
The Cause Money Matters
The Contribution
An SROI study on the Money Matters program
The Reason To determine the social return on investment of financial literacy and the benefit it can bring individuals.
Money Matters is a financial education savings program developed by ABC Life Literacy Canada. This free program teaches adult learners about budgeting, savings, credit and other financial topics in communities across Canada. In 2013, TD commissioned an SROI study (social return on investment) through SiMPACT Strategy Group to help assess the impact of the Money Matters program. The study found that every dollar invested in Money Matters financial literacy workshops for adult learners creates $2.21 SROI.
People with low literacy skills and low incomes are especially vulnerable to financial crisis: they have difficulty saving, are more likely to use high-fee outlets for payday loans and cheque cashing and miss out on opportunities for government contributions to their children’s education. Adult learners who participate in Money Matters workshops develop important financial literacy skills, decrease their anxiety about working with financial institutions and increase their knowledge and confidence about managing money.
The research found the following:
• Through debt management, an estimated $96,000 can be saved across all participants in reduced interest payments on debts paid down.
• Money Matters participants are more likely to open and contribute to RESPs. Even $10 in an RESP creates an expectation that a child will attend post-secondary education in some form.
• In 2012, 202 TD volunteer tutors contributed more than 2,000 volunteer hours; 97% said they were eager to teach another Money Matters session.
• In 2012, 683 adult learners participated in Money Matters workshops; 9 out of 10 said Money Matters helped them feel more confident and comfortable about managing their money.
+ Read the full SROI study on the Money Matters program
TD 2013 Corporate Responsibility Report
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118