New survey shows money is still the leading stressor, with younger Canadians hit hardest
Canadians continue to experience financial stress, with money remaining their primary source of concern, according to the eighth Financial Stress Index conducted by Leger on behalf of FP Canada.
The national survey highlights how financial barriers, goals, and mindsets have evolved over time.
The findings show that individuals working with a CFP professional or QAFP professional consistently demonstrate greater financial resilience and optimism compared to those who do not.
The 2025 Financial Stress Index reports that 42 percent of Canadians rank money as their top stressor, ahead of health (21 percent), relationships (17 percent), and work (17 percent).
While slightly lower than 2024 (44 percent), financial stress has been trending upward over the past five years (40 percent in 2023, 38 percent in 2022 and 2021).
External economic factors affect generations differently. Rising grocery prices (64 percent) and inflation (54 percent) are the top concerns for all age groups, but those aged 35-54 feel the most impact (69 percent and 59 percent, respectively).
Meanwhile, younger Canadians (18-34) struggle more with housing costs, with 45 percent pointing to home prices and 43 percent citing rent costs as major stressors.
In contrast, fewer respondents aged 35-54 (26 percent and 28 percent) and 55+ (15 percent and 18 percent) report these as significant concerns.
Ravi Chhabra, a CFP professional at Cigfin Corp. in Vaughan, Ontario, notes that Canadians experience financial stress in unique ways depending on their individual circumstances.
He acknowledges that managing finances can feel overwhelming but emphasizes that “there are steps Canadians can take to feel better about their financial situation, including partnering with a professional financial planner who can help them build a personalized plan to achieve their goals.”
Despite ongoing financial stress, 88 percent of Canadians recognize that actions such as budgeting and saving could help alleviate their concerns.
The most frequently mentioned steps include saving more (48 percent), paying down debt (40 percent), and establishing an emergency fund (37 percent).
However, many Canadians struggle to take these steps due to financial constraints.
The most cited barrier is the high cost of living (68 percent), followed by the fear of making the wrong financial decision (52 percent) and not having enough money left after paying necessary expenses (51 percent).
Younger Canadians face additional challenges related to financial education.
Among those aged 18-34, 49 percent report struggling to find reliable financial advice, 49 percent say they do not know how to start improving their finances, and 37 percent cite difficulty understanding financial concepts.
These challenges appear less frequently among 35-54-year-olds (36 percent, 41 percent, and 23 percent, respectively), emphasizing an educational gap that limits financial progress for younger individuals.
Managing personal finances is complex, with both internal and external forces influencing financial well-being. The survey findings highlight the benefits of working with a financial professional.
Among those who seek guidance from a CFP professional or QAFP professional, only 34 percent rank money as their top stressor, compared to 48 percent of those without professional financial help.
Additionally, 27 percent of those working with a financial planner believe their efforts will not impact their financial situation, while 41 percent of those without professional support share this belief.
Long-term data from the Financial Stress Index reveals a clear trend: Canadians who work with financial professionals are significantly more optimistic about their financial future.
Their confidence increased from 50 percent in 2023 to 60 percent in 2025, whereas those without professional help remained at 44 percent in 2023 and 48 percent in 2024 and 2025.
Tashia Batstone, president and CEO at FP Canada, says she is encouraged by the financial progress made by Canadians who work with professional financial planners.
She acknowledges that “money is a significant source of stress for many Canadians year after year” but highlights that the Financial Stress Index also “demonstrates the positive impacts that CFP professionals and QAFP professionals are having on the well-being of the Canadians who partner with them.”
