Financial stress is impacting the mental health of Canadians: Survey

Canadians are increasingly stressed about their financial situations, as the cost of living weighs on many people’s mental health, according to a new report.

FP Canada released its 2023 Financial Stress Index Thursday highlighting that for the sixth consecutive year, money continues to be the main source of stress for Canadians, impacting 40 per cent of respondents. 

Results come amid elevated levels of inflation coupled with high prices for gas and groceries, the report said.

“Canadians continue to struggle with their financial picture, and financial stress can have a significant impact not only on financial well-being but also on mental health,” Tashia Batstone, the president and chief executive officer of FP Canada, said in a news release.