Financial stress and its impacts

From: Financial Consumer Agency of Canada

Mental, physical and financial wellness are three pillars of good health.

But for many Canadians, money worries are the greatest source of stress, more than work, personal health and relationships. In fact, research shows:

  • 48% of Canadians say they’ve lost sleep because of financial worriesFootnote 1 
  • 44% say it would be difficult to meet their financial obligations if their pay is lateFootnote 2

There are many sources of financial stress, including:

  • Managing household expenses
  • Dealing with high levels of debt
  • Living pay cheque to pay cheque
  • Struggling to save money for short and long-term goals
  • Dealing with unexpected expenses

If you feel this way, remember: you’re not alone. Financial stress affects working Canadians of all income levels and age groups.

Impact of financial stress on your physical and mental health

Did you know?

If you are dealing with financial stress, you are:

  • Twice as likely to report poor overall health
  • Four times as likely to suffer from sleep problems, headaches and other illnessesFootnote 3 
  • More likely to experience strain in your personal relationshipsFootnote 4

Financial stress can also lead to more serious health problems, such as:

  • Heart disease
  • High blood pressure
  • Mental health conditions such as depression and anxietyFootnote 5

Impact of financial stress on your work

Financial stress doesn’t only affect you personally. Almost half of working Canadians admit that stress related to personal finances has had an impact on their performance at work.Footnote 6  

It doesn’t have to be this way. Learn about the benefits of investing in your financial well-being.

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