Over 60 per cent of Canadians worry about money before bed as cost-of-living stress intensifies
A new survey by Harris & Partners reveals that six in ten Canadians go to bed worrying about money, highlighting the emotional toll of personal finance struggles and debt.
Joshua Harris, licensed insolvency trustee at Harris & Partners, says, “Many Canadians feel trapped in a cycle of financial worry, where concerns about debt, bills, and future stability follow them throughout the day and into the night.”
He notes that financial stress reaches beyond money and affects sleep, mental health, and overall well-being.
Experts warn that financial pressure can contribute to anxiety, depression, and physical health issues.
Sleep deprivation caused by money concerns may impair cognitive function, weaken the immune system, and lead to long-term health conditions.
The survey findings also point to emotional strain in personal relationships. Many Canadians find it difficult to discuss finances with family or partners, which contributes to isolation and distress.
“The financial challenges Canadians face today are more pressing than ever,” said Harris. He noted that despite working hard, many still struggle with everyday expenses—an alarming trend that signals the need for stronger financial support systems.
Canadians cite several key financial challenges:
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Rising cost of living: Inflation has increased the price of basic necessities, making household budgeting more difficult.
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Debt pressures: Many carry significant credit card, personal loan, or payday loan debt, increasing their financial burden.
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Lack of safety nets: Without emergency savings, many rely on borrowing to manage unexpected costs.
The survey also reports that:
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45.1 percent have taken on additional work—such as overtime or side jobs—to meet regular expenses.
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52.6 percent say they have less than $200 remaining after paying monthly bills and debt, making them highly vulnerable to financial shocks.
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56.6 percent have hidden their financial situation from a friend, partner, or family member, which reflects the stigma and emotional weight of financial difficulties.
Harris says, “Taking control of your finances starts with small, manageable steps. Creating a budget, even a simple one, helps individuals track their spending and make informed financial decisions.”
Experts recommend the following actions:
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Create a financial plan: Knowing how much money comes in and goes out supports better decisions.
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Build an emergency fund: Regularly saving even small amounts can reduce reliance on credit during emergencies.
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Seek professional help: Licensed Insolvency Trustees and financial advisors can guide people through debt management and recovery.
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Address mental health: Since financial stress affects emotional well-being, support through therapy, counselling, or financial literacy programs can help people rebuild confidence.
With over 60 percent of Canadians going to bed under financial stress, Harris says the issue requires attention at both the personal and systemic levels.
The survey highlights the need for increased financial literacy, more accessible debt relief programs, and stronger consumer protections.
“Financial struggles don’t just affect bank accounts; they affect lives, relationships, and health,” says Harris. “It’s important for those struggling to know they’re not alone, and that help is available.”
Seeking professional guidance remains a key step for those who feel overwhelmed by debt, as they work toward financial stability and peace of mind.
