How much time does your client spend worrying about money?

Millennials spend more time worrying about finances than older Canadians, according to a poll commissioned by Scotiabank.

The Financial Worry poll found that Canadians spend an average of two hours a day worrying about finances — and the amount of time spent worrying decreases with age. 

Canadians aged 18 to 34 worried the most — 2.4 hours a day, on average. They were followed by people 35 to 54, who worried for two hours a day. People aged 55 and over worried for 1.4 hours a day.

The poll also found that Canadians with lower household incomes spent more time worrying than those with higher household incomes.

Households making less than $50,000 a year worried an average of 2.25 hours a day — considerably more than households making at least $100,000, who spent just over an hour a day worrying. 

Regionally, residents in Atlantic Canada spent the most time worrying about finances (3.4 hours a day), followed by Albertans (2.7 hours a day), and people in Saskatchewan and Manitoba (2.4 hours a day).

Quebecers spent the least amount of time worrying about their finances, averaging just five hours a week.

The Financial Worry poll was commissioned by Scotiabank and conducted by Maru Blue on September 20, 2019. The online survey captured the opinions of 1,520 Canadians across the country.

Maddie Johnson

Maddie is a freelance writer and editor who has been reporting for Advisor.ca since 2019.