Welcome to summer! If there was any way to remind us that we have now started summer, last week’s heat wave definitely got our attention! This summer, the only thing we want you to worry about is if you have enough popsicles in the freezer – your finances shouldn’t be burning you out.
We recommend you enjoy your summer and set aside a time in the fall to review or make financial plans with us. However, if anything does come up – don’t hesitate to get in touch, we’ll be here for you. But for now, let’s plan on keeping it poolside for the season.
The 2021 Financial Stress Index was just released, and while some of the previous year’s trends are continuing, you may be surprised by some of the findings.
Key Findings:
The 2021 Financial Stress Index shows that nearly two-in-five (38%) of Canadians said money was their biggest concern, outranking personal health (26%), work (20%) and relationships (15%). The survey also shows that:
- More than 51% say they have lost sleep over money concerns
- One-in-three (31%) say it has led to health problems, a significant increase from 18% in 2020
However, the survey also shows that Canadians who work with a professional financial advisor were:
- Far less likely to say money was their top concern, compared to those who don’t work with a financial advisor (23% vs. 39%)
- Significantly less likely to have faced health issues due to financial stress, compared to those who don’t work with a financial advisor (20% vs. 31%)
- Much more confident of their financial future compared to those who didn’t have a financial advisor
2021-financial-stress-index-infographic
To check out the full report and get more information, visit FP Canada.
If you’d like to discuss this topic in greater detail or have any questions, please reach out to a
member of your Arbutus Financial Team.