Feature Story: The Conversation: Escaping the vicious circle of going paycheque to paycheque

Abstract

Many Canadians are stressed out about money and feel it would be difficult to meet their financial obligations if their paycheque was delayed by even one week.

A new Statistics Canada study has found that most of us are struggling to make ends meet.

The situation is similar in other countries, including the United States, Australia and New Zealand.

Stressing about money creates all kind of problems. It makes people pessimistic and causes them to feel bad about themselves. It leads to declining physical health and mental health], alcohol consumption, relationship problems and poorer parenting, among other problems.