Financial advisors can help you sleep better, feel better, and plan for a stable future

Financial stress has increasingly become one of the foremost threats to both mental and physical health across Canada. New research from FP Canada and the Financial Consumer Agency of Canada reflects how deeply financial anxiety affects Canadians. Money now ranks as the leading source of stress for 42 per cent of Canadians, up from 38 per cent in 2021, signalling a persistent rise in financial anxiety. Nearly half of Canadians still lose sleep over their financial situation—49 per cent, compared to 51 per cent at the height of the pandemic. This anxiety is fueled by external pressures. Sixty-four percent of Canadians cite grocery prices as the most directly stressful factor, and 54 per cent point to inflation.

Serge Robichaud

For Serge Robichaud, a Canadian financial advisor who regularly works with clients under financial strain, the link between money and well-being is clear. “I often see clients regain their sense of agency once they sketch out a plan that aligns with their financial and wellness goals,” he says. “Having a clear path forward can replace anxiety with focus. Being able to lean on someone to help navigate what feels overwhelming can provide a tangible relief that goes beyond numbers.”

The physical effects of financial stress are substantial. It doubles the chances of reporting poor overall health and quadruples the risk of sleep issues, headaches, or other ailments. It also leads to more severe consequences like heart disease, hypertension, depression, and anxiety. The professional world offers no relief. Over 50 per cent of employed Canadians reported that financial pressure has impacted their job performance. Financial strain is linked to a five-fold rise in workplace distractions and can lead to a loss of more than 7,500 productivity hours each year in large companies, equating to over $200,000 for a 200-employee organization.

The sources of this stress are not abstract. Canadians report being worn down by the high cost of living (68 per cent), fears of making the wrong financial decision (52 per cent), and not having enough left over after paying essentials (51 per cent). Younger Canadians face more hurdles. Nearly 50 per cent of those aged 18 to 34 say they do not know where to find reliable financial advice (49 per cent), how to start improving their finances (49 per cent), or how to understand financial concepts (37 per cent). These are much higher rates than those in the 35 to 54 age group.

In this context, professional guidance can make a measurable difference. Canadians working with financial advisors are less likely to consider money as their primary source of stress (34 per cent compared to 48 per cent for those without) and are less likely to lose sleep over financial issues (42 per cent against 53 per cent). Among individuals who seek assistance, 50 per cent feel optimistic in 2023 compared to 60 per cent in 2025, whereas among those who do not consult a planner, optimism is at 48 per cent.

These observations correspond with wider conclusions that emphasize the strength of financial behaviour. The Financial Consumer Agency of Canada indicates that maintaining active saving habits and steering clear of borrowing for everyday expenses is closely linked to financial wellness, even more so than income level. Behaviours such as setting aside money regularly and resisting using credit for essentials explain a larger share of financial well-being than economic factors like income or employment status.

Robichaud says that guided support can help individuals build these habits. “Encouraging clients to set up even a modest automatic savings plan can be transformative over time. Having someone review your spending patterns together can create small adjustments that reduce the need for short-term borrowing,” he explains.

The link between financial literacy and overall well-being is evident. When people know their options and feel confident in their decisions, they feel more in control. Nearly 88 per cent of Canadians recognize that habits such as budgeting or saving could alleviate financial stress.

Financial advisory is thus a pragmatic support for overall health. By helping clients navigate external pressures, build effective financial habits, and make informed choices, advisors help restore mental clarity and physical stability.

While systemic challenges such as inflation and housing costs persist, accessible professional financial planning can signal hope in an uncertain economy. Through education, planning, and behavioural support, advisors like Robichaud offer a route toward resilience, both financially and holistically.

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