PROSPER CANADA LAUNCHES FINANCIAL SELF-HELP PORTAL FOR VULNERABLE CANADIANS

Trove will offer free tools and resources on money management, tax filing and debt reduction  

TORONTO, September 15, 2021 – Today, national charity Prosper Canada announced the launch of Trove, a bilingual online portal providing free financial tools, worksheets, and educational resources to help financially vulnerable Canadians take control of their finances.  

The COVID-19 pandemic has taken a financial toll on many Canadians, but people with low incomes most of all. According to Statistics Canada, low-wage workers were more severely impacted by the COVID-19 lockdowns than by the 2008/2009 recession and paid employment for those in the bottom wage decile was 39 per cent lower in December 2020 than in December 2019, while it was 16 per cent higher in the top wage decile. Low- and moderate-income households were challenged to save in 2020 with both groups experiencing respectively negative savings rates of -61 per cent and -4 per cent. Unemployment and financial stressors have been disproportionately felt by women, youth, Indigenous people, and minority groups. Prosper Canada is launching Trove to empower people with low incomes to take independent action to build their financial health, using tools and resources specifically tailored to their financial context and needs.  

“There are a plethora of financial tools, apps, and information out there, however finding resources that are credible, easy to understand and tailored for people living on low incomes can be extremely challenging,” said Elizabeth Mulholland, CEO, Prosper Canada. “We saw a need to provide a single portal with a comprehensive suite of financial resources that meet people where they are at, that are in plain language and simple to use.” 

Accessible at yourtrove.org, the site provides tools, tips and worksheets to help individuals:  

• Budget and save for their goals  
• Learn about tax filing and government benefits  
• Tackle debt through debt action planning and support.  

Trove also provides individuals with access to:  

• My money in Canada – a website offering individuals simple, easy-to-use, learning modules on a range of topics to help them effectively navigate money matters.  
• The Financial Relief Navigator – an online search tool that enables users to search for and learn about emergency benefits and financial relief they may be eligible for  
• The RDSP Calculator for Canadians – a calculator enabling individuals to explore the benefits of opening and contributing to a Registered Disability Savings Plan.  

Visit yourtrove.org to explore financial tools and resources. Visit prospercanada.org to learn how Prosper Canada is working with partners in all sectors to develop and promote financial policies, programs and resources to transform lives and help Canadians to prosper. 

Prosper Canada 

Prosper Canada is a national charity dedicated to expanding economic opportunity for Canadians living in poverty through program and policy innovation. Prosper Canada works with government, business, and community partners to develop and promote financial policies, programs and resources that remove barriers and help more Canadians to prosper. Learn more at www.prospercanada.org  

Media contact 
Wendy Abbott-Serroul 
Tel: 416-993-6409 
Email: wabbottserroul@prospercanada.org