The survey, done by Léger, showed that once again this year, money worries were the biggest cause of stress for a majority of Canadians, ahead of health (26%), work (20%) and relationships (15%). Fewer Canadians this year than last reported that they feel confident about their financial futures (49% vs. 57%), and stock market volatility and rising interest rates were both cited as significant sources of stress.
The survey revealed that good planning is still an effective safeguard against financial insecurity: the percentage of Canadians who say that money is their main source of stress is significantly lower among those who work with a financial planner (15% vs. 40%). These people are also much less likely than the average Canadian to develop money-related mental health challenges (16% vs. 36%).
The following sources were used to prepare this article:
FP Canada, “FP Canada™ 2022 Financial Stress Index.”