For the past several years, the strain of financial stress has left Safiya Mayers with depression, anxiety, fatigue, aching muscles, weight fluctuations and chest pains.

The 25-year-old facilities coordinator in Toronto said she experienced considerable stress paying for tuition and rent as a university student in her early 20s, while also taking on student debt. SheB次元官网网址檚 no longer in school, but a significant portion of her income goes towards paying rent, leaving it difficult to repay loans or build sizable savings.

B次元官网网址淚 have to move in December and IB次元官网网址檓 mostly likely going to have to sacrifice either a social life or renting my own place. When I think about my future, I have a lot of anxiety because I donB次元官网网址檛 have a cushion. I donB次元官网网址檛 have that proper foundation to know that IB次元官网网址檓 OK if the ground were to shake,B次元官网网址� she said.

B次元官网网址淚 feel like my early 20s have been taken from me because I was always worried about my finances, which in turn has affected my health.B次元官网网址�

Mayers isnB次元官网网址檛 alone. According to FP CanadaB次元官网网址檚 Financial Stress Index, published in June 2021, 39 per cent of Canadians polled under 35 say that financial stress has led to health issues and 11 per cent of respondents under 35 say that financial stress has led to mental health challenges or substance abuse. Comparatively, 28 per cent of those over 35 say financial stress has impacted their health and 5 per cent say itB次元官网网址檚 led to mental health challenges and substance abuse.

Canadians under 35 are also much more likely (44 per cent) to cite money as their No. 1 source of stress than those 35 and older (36 per cent).

B次元官网网址淲e know that stress, and especially chronic stress, is linked to many different health issues, such as chronic fatigue, gut health, a weakened immune system, headaches and tightness in the body. Eventually, it could lead to heart issues, said Chantel Chapman, a Richmond, B.C.-based financial trauma researcher and co-founder of The Trauma of Money, a financial literacy program.

The body and the brain donB次元官网网址檛 distinguish between financial stress and relationship, work or any other kind of stress, she added.

Younger Canadians are likely more impacted from financial stress because of housing affordability issues, particularly in more populated cities, according to Chapman. B次元官网网址淪ometimes people have overspending stress because theyB次元官网网址檙e trying to spend to survive. Their housing costs might be around 60 per cent of their income. The cost is very high compared to their earnings.B次元官网网址� Chapman said.

Another reason younger Canadians may be experiencing higher financial stress is because of increased time spent on social media, she added. Higher levels of social media engagement can be directly correlated to feelings of inadequacy or stress, which can result in a state of comparison, Chapman explained, which can bring on feelings of scarcity or feelings of pain that people sometimes cope with by spending.

Chapman said the first step to reducing financial stress is to understand whatB次元官网网址檚 going on in your nervous system B次元官网网址� including your body, brain, breath and heart rate B次元官网网址� and then using your breath or another somatic practice to calm down.

Once in a calmer state, you can start questioning the stories you tell yourself and ask whatB次元官网网址檚 in your power as an individual. B次元官网网址淥bviously this doesnB次元官网网址檛 take into consideration the systemic challenges that some folks have around money,B次元官网网址� Chapman added. B次元官网网址淭here are economic barriers that impact peopleB次元官网网址檚 health and financial health that are out of their individual control to an extent.B次元官网网址�

Shannon Lee Simmons, a financial planner and founder of the New School of Finance in Toronto, said her younger clients are able to alleviate some financial stress by mapping out what money is coming in and what money is going out. B次元官网网址淪ometimes doing that is scarier sounding and feeling than it actually is,B次元官网网址� she added.

Even if someoneB次元官网网址檚 entire income is spent on rent, groceries, bills and repaying debt, a financial plan can be advantageous, Simmons added. B次元官网网址淵our goal for this would be to just not go into debt and if you do go into a little bit of debt, stay calm and then work out a short-term plan to pay it back in a sustainable way.B次元官网网址�

Simmons added that practising this skill set creates confidence, which is empowering when it comes to your finances because you can trust that youB次元官网网址檙e capable of managing money, even if youB次元官网网址檙e not saving any. And, when you know you can manage your money, thereB次元官网网址檚 hope.

B次元官网网址淚 think hope is [important] when youB次元官网网址檙e feeling out of control or youB次元官网网址檙e feeling like you donB次元官网网址檛 have a future or youB次元官网网址檙e not sure what the future looks like,B次元官网网址� Simmons said. B次元官网网址淩estoring hope is how you stress less at night.B次元官网网址�

B次元官网网址擫eah Golob, The Canadian Press