By: Bonny Koabel CPA, CGA
For many of us, after paying all of our expenses at the end of the month – rent or mortgage payments, car payments and expenses and groceries, there is very little money remaining. We are left asking the question – how do we make our dollars stretch, how do we get ahead and have money for extra things we want after all of our expenses are paid?
In Canada we are very privileged to enjoy a high quality of life and, while we do pay a considerable amount of taxes, a large portion of tax money we pay is redirected back to funding programs meant to improve the quality of life for each and every Canadian. These funding programs are offered at all levels of Government – Federal, Provincial and Municipal. Types of Government funding includes – grants, subsidies, tax credits, refunds and rebates. All of these types of Government funding programs do the same thing – they put money back into your pocket so that you have more money and can enjoy a better quality of life.
While you may be aware of the larger funding programs such as Ontario Works, Canadian Pension Plan, Employment Insurance and most recently the Canadian Emergency Response Benefit (CERB), many are unaware that there are hundreds of smaller funding programs available to people across Canada.
Offering Government funding programs makes sense, and there are no strings attached. By making Government funding available for programs such as recreational activities for low- income families and seniors, it creates a better quality of life, improves mental health, and a physically healthier population. All of these benefits lead to less financial burden on the health care system. Everyone benefits from Government funding – the Government, people using the funding, and Canada, which receives a greater worldwide stature.
Having worked in Government Funding for the last 20 years, I have noticed that there is a hesitancy in the Caribbean community to use Government funding, and the only reason I can see for this occurring is because Government Funding is not widely available in the Caribbean. Conversely, we see that immigrants who have come from other countries where Government funding is widely available are always looking for Government funding, and they are more likely to use it.
It is time to emancipate yourself from financial hardship, and understand that the life you want wants you. While you do need a plan for success, organization and self-discipline to reach your goals, Government funding programs can also greatly assist you to reach your goals to achieve a better quality of life for you and your family.
Having provided you an overview of Government funding, I am pleased to announce I will be contributing to The Caribbean Camera where I will be writing a series of articles on Government Funding programs available to the general public. I hope that you are all able to take advantage of Government funding to improve your lives today and for years to come.