At any time, many Albertans can face the challenges of making ends meet.
Finances have ranked among the top four stresses in the lives of Canadians. If you’re like 38 per cent of the country, that statistic is probably not very surprising! 55 per cent of Albertan's say that they lose sleep over money. It’s one of the main reasons that income is listed as the number one social determinant of health.
Those who deal with financial stress are:
- 2X as likely to report poor overall health
- 4X as likely to have sleep problems, headaches and other illnesses
- More likely to have strained personal relationships
Many Canadians are struggling with financial strain; but did you know financial strain can also lead to serious health problems? Living in a constant state of unease and anxiety, like living paycheque to paycheque, can increase cortisol levels in the body, putting you at risk for:
- Heart disease
- High blood pressure
- Mental health conditions including depression and anxiety
“It’s mentally straining when you can’t provide the basic necessities... it affects your mental well-being more than anything, but when you are stressed it affects you physically on top of it.” - Primary Care Network Patient
- Government of Canada (2020) Social determinants of health and health inequalities. https://www.canada.ca/en/public-health/services/health-promotion/population-health/what-determines-health.html
- Government of Canada (2019) Financial stress and its impacts. https://www.canada.ca/en/financial-consumer-agency/services/financial-wellness-work/stress-impacts.html
- The Centre for Addiction and Mental Health (2020) https://www.camh.ca/en/health-info/mental-health-and-covid-19/covid-19-national-survey
- Statistics Canada (2020) Canada's Official Poverty Dashboard: Snapshot, February 2020. https://www150.statcan.gc.ca/n1/pub/11-627-m/11-627-m2020019-eng.htm
- Statistics Canada (2020) Canadian Income Survey: Food insecurity and unmet health care needs, 2018 and 2019. https://www150.statcan.gc.ca/n1/pub/75f0002m/75f0002m2021009-eng.htm
- Financial Planning Canada (2021) Financial Stress Index. https://fpcanada.ca/planners/2021-financial-stress-index