Increase your financial well-being with the power of financial literacy

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Financial Literacy
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Saving and Investing

Financial literacy is having the skills, knowledge and behaviours that allow you to make informed decisions about money. Think of it as having a strong foundation for a smart relationship with money.

Today’s world is financially complex. Economic landscapes are growing more complicated with geopolitical conflicts, national budget deficits and rising inflation. And Canadians have more financial products and services available to them than ever before – credit, cryptocurrency, budgeting apps, robo-advisors, and DIY investing, to name a few. In today’s world, being financially literate isn’t just useful – it's vital.

The ability to manage finances effectively, including budgeting, investing, and handling debt, can help change financial stress to financial success. But you don’t have to go at it alone. Enlisting the support of a financial advisor can help as you navigate today’s complex financial world and embark on your journey towards financial literacy.

Financial stress: A hidden epidemic

Money is the number one stressor for Canadians. According to the 2025 Financial Stress Index from FP Canada, 40% of Canadians say money is what causes the most stress in their lives. In fact, 48% report losing sleep over financial worries.1 This towers over other concerns, including personal health, work and relationships.

Canadians’ stress about money is rooted in worries over bill payments (37%), saving enough for retirement (34%), preparing for major purchases (31%), and managing debt (30%).1 Even more alarming, this financial strain often impacts other areas of life, with 55% of respondents reporting that their financial stress causes an overall negative emotional impact in their lives. On top of this, 38% report it causes anxiety and depression, 17% say it strains their marriage or relationship, and 18% say it reduces their productivity at work.1 These figures show the far-reaching consequences that could occur when you lack financial know-how.

Why engage a financial advisor?

With financial stress so prevalent for so many Canadians, a financial advisor can be an important and necessary ally. A professional advisor offers more than investment tips — they provide a holistic approach to financial planning that ensures all the pieces of your financial puzzle fit together seamlessly, developing a strategy tailored to your unique circumstances and financial goals.

Here are a few of the ways an advisor can help:

  • Customized financial planning. Advisors tailor plans to embrace each client's unique financial situation, current lifestyle needs, and future goals.
  • Combating financial illiteracy. Advisors educate and empower clients, transforming financial jargon into clear, actionable strategies.
  • Navigating through market volatility. Advisors have the experience to help guide clients through market ups and downs, helping them stay focused on their long-term strategy and goals.
  • Supporting financial, emotional and mental well-being. Advisors can act as a sounding board, coach and partner in financial decision-making, helping to relieve some of the stress that comes with it. This can help improve the negative mental health and emotional impacts of financial stress. In fact, in the 2025 Financial Stress Index, Canadians who work with a financial professional are more likely to feel hopeful about their financial futures (60% feeling hopeful), compared to those who don’t (48% feeling hopeful).2
     

Next steps: Building financial literacy with the help of a financial advisor

Doing your own research, taking a course or reading a personal finance book are all great first steps in taking control of your financial literacy. An advisor can help you go further and reach new heights. They have knowledge and experience that can help you become more confident in your financial journey and help you with a variety of things, including:

  • Budgeting and smart money management. Advisors can help you create a budget that balances needs and wants, as well as your current expenses with future goals.
  • Using credit wisely. Whether it’s a credit card, line of credit, a mortgage, car loan or other type of loan, an advisor can help you learn the ins and outs of each. They also have the knowledge to help you use them effectively, without getting trapped in a bad cycle of credit.
  • Strategic investing. Advisors mitigate risks while maximizing growth potential across investment portfolios.
  • Using insurance to mitigate risk. Get an understanding of how you can use insurance to protect your financial assets. Advisors understand how insurance can be a flexible part of different wealth management strategies, and how it can help your financial situation today, and in the future.
  • Estate planning. Secure your legacy and protect your loved ones with the foresight and expertise of an advisor.
     

Financial literacy is an important skill to have in today’s complex world. Being financially literate can combat stress and anxiety about money and help you create a positive financial future with confidence.

If you’re ready to take the first step towards improving your financial literacy, reach out today. Together, we'll develop a financial plan that works for you.

Sources

FP Canada 2025 Financial Stress Index. March 18, 2025. FP Canada. https://www.fpcanada.ca/docs/professionalsitelibraries/fsi/fsi-2025-results-deck---fp-canada.pdf?sfvrsn=6dcbedee_2.  

FP Canada 2025 Financial Stress Index: Key Findings. March 18, 2025. FP Canada. https://www.fpcanada.ca/2025-financial-stress-index.  

The information provided is based on current laws, regulations and other rules applicable to Canadian residents. It is accurate to the best of our knowledge as of the date of publication. Rules and their interpretation may change, affecting the accuracy of the information. The information provided is general in nature and should not be relied upon as a substitute for advice in any specific situation. For specific situations, advice should be obtained from the appropriate legal, accounting, tax or other professional advisors.