stressed young couple worries about their finances

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.