“This financial anxiety index developed for Centraide is the first one to examine the close links between financial anxiety, financial literacy, and the overall mental health of Quebecers and the socio-economic factors that affect them. Inflation does not affect everyone equally, and our findings on this point could not be clearer,” added Christian Bourque, Executive Vice-President, Montreal Office, Leger.
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Considering these findings, Centraide emphasized the crucial role community organizations play in helping those who are struggling with financial anxiety in a variety of contexts and areas of their lives, including mental health, financial literacy, housing, and food security.
Financial and family circumstances, financial literacy, and concern about various financial issues (including food and housing expenses, debt repayments, and others) are the three major factors Centraide used to calculate its financial anxiety index.
The survey will be conducted twice a year over the next three years, Centraide said.
