Staying financially resilient has become more challenging for many households in recent years. Across the country, Canadians are feeling the effects of rising interest rates, inflation, and ongoing economic uncertainty. Groceries cost more, borrowing is more expensive, and long-term goals—like saving for a home, planning for retirement, or supporting children—can feel increasingly out of reach.
If you’ve been feeling stressed about your finances lately, you’re not alone. The good news is, being adaptable and taking small steps can help you regain a sense of control over your financial life. Here’s what you should know.
Money is about more than just numbers — it’s tied to our sense of security, our hopes for the future, and (often) our identity. That’s why economic uncertainty can trigger strong emotional responses, including worry, guilt, frustration, or shame. Recognizing your emotions is a key part of building financial knowledge and confidence that can help you weather any storm.
Here are a few ways to regain clarity when things feel overwhelming:
Uncertain times invite us to take another look at what matters most. For some, that might mean postponing a big purchase or adjusting savings goals. For others, it’s about getting back to the basics: protecting what you have and creating flexibility for whatever comes next.
Ask yourself the following questions:
Financial resilience looks different for everyone, and your approach will naturally shift depending on what life stage you’re in. But no matter your age—and what the economy looks like—it pays to take steps to prepare for the future.
This stage is about building habits, not attaining perfection. Start with small, consistent actions:
This stage often comes with competing priorities—mortgages, raising children, saving for retirement, and (sometimes) caring for aging parents. Resilience means finding balance between protecting what you’ve built while continuing to make progress towards retirement. Here are a few things to keep in mind:
For those in or nearing retirement, stability and sustainability take priority. Consider the following:
Regardless of age, resilience means knowing your plan, understanding your options, and adapting as life changes. You don’t need to predict the future—just be prepared to adapt when it does.
In a world where information is everywhere and not always reliable, it can be hard to sort through the noise. Trusted guidance can help you cut through the confusion and turn information into meaningful action.
That’s where a CFP® professional or QAFP® professional can make a difference. Financial planners are more than strategists—they’re partners and confidants who can help with the following:
Many clients work with their planner for years or even decades. A strong partnership with a planner can help you feel informed, supported, and confident—all essential ingredients for resilience.
Challenging times will come and go, but with knowledge, planning, and the right support, you can move forward feeling more secure and empowered.
To find a CFP professional or QAFP professional who can help you ensure that you’re finances are on track, visit the Find Your Financial Planner tool.
Ryan Lee is a CFP professional and the owner of Twain Financial in Vancouver, B.C.
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