According to a 2019 study by the Canadian Payroll Association, 43 percent of workers are financially stressed to the point that their work performance is suffering. Almost 25% of working Canadians spend nearly 40 minutes of each workday distracted from their work by their financial situation.
The distraction is a problem of enormous magnitude, which steals an estimated 16 billion dollars each year from the Canadian economy. Finding solutions to an individual’s financial worries can benefit our economy as a whole.
But what is the solution? At Creditaid, we’re specialists in helping relieve financial stress. There’s no single solution to an individual’s financial worries. However, we’ve found that there is a simple approach that can ease the pressure for many, if not most. We can start by approaching financial literacy as a skill that can be taught and a process that can be coached. It would help remove the stigma that is wrongly attached to people who seek help.
Consider financial planning like your golf swing, or yoga, or anything else you want to learn and improve, and find an expert who can help you. Financial literacy isn’t a mystery – it’s something you can learn, and the more you learn, the more confident you become. A financial coach can help you create a budget and plan for your financial future in both the short and long term. No matter what your present circumstances are, they can be improved.
Many people are intimidated by the thought of sharing their financial situation with a stranger. If you’re experiencing stress over your finances, engaging the services of a knowledgeable financial coach could result in far less stress, not more.