Losing sleep over your finances? You’re not alone.
We’re living in a 24/7 world. With access to all the time zones all the time, it’s like things never stop or slow down. Add some stress and anxiety on top of that and you have a recipe for unrested, unhappy people.
According to Statistics Canada, one-third of Canadian adults do not get enough sleep. The study found that participants with higher income and education were more likely to sleep for the optimal seven to nine hours per night than those in lower-income and education households.
In a 2021 online poll, Research Co. found that 43% of Canadians said worrying about finances makes it more difficult to fall asleep and that 53% of millennials reported losing sleep over money matters.
Long-term stress over things like finances can contribute to a range of health problems – heart disease, alcohol and substance abuse, weight instability, and mental health issues to name a few. And it’s not surprising that money is a significant stressor for many Canadians – it dictates our access to resources, entertainment, and social mobility. It seems our whole life is wrapped up in our finances.
If you’re losing sleep over money, here are two helpful tips:
Don’t backburner your financial worries. Avoiding the problem is a common stress response, but rather than making it go away, your brain works harder to resolve the issue, which can lead to greater anxiety and more stress. Confronting the problem head-on allows you to skip the panic loop and work toward resolving the stressor.
Talk to a professional. Information can be a stress reliever. Whether you need help with debt reduction, retirement savings, or investment advice, a financial advisor will explain all your options based on your current situation and future needs. The more you know, the better you can plan. And with a comprehensive plan in place, you don’t have to worry if you have enough. We’d love to help you get a good night’s sleep.