Series - Editorial Fellowship: Social Finance in Canada Suncor Energy Foundation 2023/24

Financial literacy as an antidote to stress

Author Diane Berard
Financial stress affects our sleep, behaviour, relationships and performance. Financial literacy is critical to reducing this pressure and increasing general wellbeing.

Why It Matters

Money is the most significant source of stress for many Canadiansโ€”more than work, personal health and relationships. Most Canadians cannot access an employer retirement plan, making retirement planning their responsibility. However, financial literacy can help reduce this tension for many Canadian households, increasing their wellbeing.

Last November, the team from Deuil Jeunesse, a Quebec City charity, sat together to learn how to budget for their personal lives. This 19-employee organization offers training to its workforce four times a year, focused on the non-profitโ€™s mission of supporting the public in the face of sudden death, accident, suicide, homicide, serious illness, medical aid in dying, perinatal bereavement, and pet bereavement.

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