HOW FINANCIALLY STABLE AM I? YOU’RE DOING BETTER THAN MOST IF YOU CHECK OFF JUST 1 OF THESE 3 BOXES

It’s easy, and fairly common, to feel like you’re lagging behind everyone else when it comes to finances.

According to a 2025 Leger survey for the Financial Consumer Agency of Canada, 52% of Canadians say they feel “behind” where they expected to be financially, while 1 in 4 (25%) say they feel “significantly behind” because of inflation, debt, and housing costs (1).

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Now, with the less-than-rosy picture around job security, stubborn inflation and the nation's sluggish economy it’s easy to see why Canadians are jittery.

But the threshold for the top 50% by certain financial parameters is surprisingly low. It doesn’t take much to put yourself in a better position than around half the country’s adults. In fact, if you can check off just one of the three boxes below, you’re already in the top half or close to it by some measure.

Here’s a closer look.

Not living paycheque-to-paycheque

As of mid-2025, 46% of Canadians report living paycheque-to-paycheque, according to the Canadian Payroll Association’s Annual Survey (2). Among those under 35, that jumps to 61%, with 71% saying they couldn’t handle an unexpected $500 expense without borrowing to cover these costs.

If you’re managing to save even a little each month, you’re already ahead of much of the country. Those savings can come from cutting back on expenses or boosting income — either way you’ll be ahead of the pack and well on your way to financial stability.

Reduce your monthly expenses to get off the cash-flow rollercoaster

A good strategy to help you stop living paycheque-to-paycheque is to reduce your monthly expenses wherever you can.

By using a comparison platform like Rates.ca, you could potentially save $500+ by comparing 20+ quotes from top-rated auto insurance providers to ensure you aren't paying a hidden ‘loyalty tax’ to your current insurer.

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Read more: 3 essential money moves to make once you’ve saved $50,000

You don’t worry about finances daily

It’s perfectly natural to worry about money from time to time. Even billionaires appear to worry about taxes or stock market crashes. But if you’re worrying about finances frequently — like on a daily basis — it could be a bright red flag. So is ignoring your financial situation.

A 2025 FP Canada: Financial Stress Index found that 44% of Canadians say money is their top source of stress — ahead of work, health, or relationships — while 36% say they lose sleep over financial worries (3).

The key is to be concerned, but to let go of the stress of fretting on a daily basis. That means if you're one of the 56% of Canadians who are not constantly worrying about your bank balance, you’re that much closer to living a more financially stable (and mentally serene) life.

Cut down on everyday expenses

If you're feeling the daily squeeze of living expenses, one of the fastest ways to relieve cash-flow anxiety and free up monthly income is by auditing your recurring costs. While major budget overhauls take time, eliminating hidden charges and administrative fees is an easy win.

Beyond traditional budgeting tweaks, another effective way to trim routine expenses is by taking advantage of targeted discounts, special programs, and group rates tailored directly to your lifestyle or career.

For example, you may qualify for profession-specific banking perks that can help reduce everyday banking costs.

National Bank offers specialized banking packages for professionals in fields like healthcare, engineering, IT, finance, law, teaching, public service, administration, architecture, agriculture and more. Depending on eligibility, the offer can include:

• Up to 3 bank accounts with no fixed monthly fees, with an eligible Mastercard rewards credit card (Certain fees apply)
• Personal and home equity lines of credit with preferred terms and conditions
• Preferred value-added services like legal assistance and identity theft protection
• Access to a financial advisor
• An eligible Mastercard rewards credit card (Certain fees apply)

According to National Bank, eligible professionals can unlock up to approximately $1,313 in annual savings with higher savings available for select professions such as healthcare and IT.

The special offer covers more than 150 professions, including a wide range of professionals and specialists — and eligible individuals can enjoy even more savings when you combine specific banking products and services.

Find out if you work in an eligible profession and make an appointment to explore your options.

Saving for retirement

Given that most Canadians live paycheque-to-paycheque, while worrying about their finances on a daily basis, it shouldn’t be surprising that many are also struggling to secure their future financial needs.

According to Statistics Canada, only 53% of Canadians contribute to a registered retirement plan, such as an RRSP, TFSA, or employer pension plan (4), although a much larger percentage of Canadians worry about their ability to save. In an RBC report, more than 3 out of 4 (77%) of Canadians reported feeling "concerned about balancing today's expenses versus building my savings," while more than two-thirds (64%) admitted to worrying about their cash flow (5).

Start by setting up automatic savings

A simple strategy to help you save is to set up automatic deposits into a high-interest account. By directing a portion of your paycheque straight into a dedicated savings vehicle, you can build your nest egg on autopilot without having to think about it daily.

A high interest savings account can help you grow your savings faster. It often pays to shop around because some banks offer special interest rates for new customers.

For example, open a personal account with EQ Bank and in just a few minutes you get access to the best features of a chequing account combined with a high-interest savings rate.

When you fund your account and set up a direct deposit, you can earn 2.75% on every dollar deposited into the account.

The account has $0 monthly fees and no minimum balances. Plus, you can withdraw from any ATM in Canada — for free.

Take the next step: Put your money to work with investing

While building an automated savings routine in a HISA is essential for short-term emergency funds, saving alone often isn't enough to beat inflation over the long haul. To truly grow your retirement nest egg, you’ll want to transition a portion of your savings into an investment portfolio.

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Learning to communicate

One of the toughest tasks when finances are stressful is to communicate honestly and openly with loved ones. Unfortunately, people who feel high financial stress – meaning they feel overwhelmed with spending, are struggling to meet financial obligations, or are worried about managing their money – are less likely to communicate with their partner due to greater anticipated conflict, according to research published in the Journal of Consumer Psychology (6).

What's worse, is that the stress of finances can often lead to the perception that a partner is not supportive. Research published by researchers from Carleton University and the University of Western Ontario found that financial stress in a relationship can affect the perceived support a person receives from their partner. When there are disagreements about money, for example, the research found that people report feeling more neglected or distrustful and say they are less satisfied in their relationship (7).

While it can be hard, the key is to start to communicate.

Just be talking — in a non-judgemental way — you can begin to see where you can make adjustments and develop strategies. This helps you realign your behaviour to your habits — and lets you focus on getting out of the paycheque-to-paycheque cycle, stop fretting daily about money and start saving for the future.

Bottom line

If you can check off even one of these boxes — not living paycheque-to-paycheque, feeling less stressed about money, or saving for retirement — you’re doing better than about half of Canadians. But why stop there? Aim for financial stability that lets you thrive, not just survive.

—with files from Melanie Huddart and Romana King

What To Read Next

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Article sources

We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.

Financial Consumer Agency of Canada (1); National Payroll Institute: Annual Survey of Working Canadians 2025 (2); FP Canada: Money & Milestones Survey 2055 (3); Statistics Canada: Canadian Financial Capability Survey 2024 (4); RBC: Canadians call out their top personal finance concerns (5); Journal of Consumer Psychology (6); Journal of Social and Personal Relationships (7)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

2026-08-05T11:38:14Z