Financial anxiety is hitting
vulnerable populations particularly hard
Since fall 2022, Centraide of Greater Montreal has surveyed Quebeckers twice a year to get a sense of their financial concerns and to track changes in these concerns over time.
Fourth survey – April 2024
The overall anxiety index has risen, with nearly half of Quebeckers (48%) now experiencing significant levels of anxiety, compared to 42% of Quebeckers 18 months ago.
Average score
38.8 in November 2022
Percentage of people experiencing varying degrees of anxiety
85% in November 2022
Percentage of people with high levels of anxiety1
42% in November 2022
Between November 2022 and now, the percentage of people experiencing severe and extreme financial anxiety rose from 12% to 15%, while low anxiety saw a decline at a similar rate, from 43% to 39%.
Since the first survey, significant levels of financial anxiety1 have been on the rise, particularly among vulnerable populations and specific groups:
| April 2024 | November 2022 | |
|---|---|---|
| People who are unemployed | 75% | 55% |
| People with functional impairments | 71% | 62% |
| Racialized people | 67% | 57%2 |
| People living on a low-income | 65% | 49% |
| Young people aged 18 to 34 | 65% | 55% |
| Parents | 63% | 42% |
| Women | 55% | 47% |
| People without a post-secondary diploma | 53% | 51% |
1. Moderate, severe and extreme anxiety levels.
2. Data from April 2023, as the November 2022 data is not available.
On our radar
Do you want to know your own financial anxiety level?
Fill out the survey in a few minutes, get your results and compare them to those of the Quebec population.
About the Centraide Financial Anxiety Index
Given our current economic uncertainty, Centraide of Greater Montreal has partnered with Leger to create the Centraide Financial Anxiety Index. The index identifies Quebecers’ concerns about their financial situation and monitor changes in these concerns over time.
This index measures Quebecers’ level of anxiety based on three variables:
Financial and family situation: their current situation and any expected changes
Financial
literacy
Concerns
about financial issues
Quebeckers’ financial anxiety is measured twice a year. The index is based on the results from an online survey on the LEO platform among respondents aged 18 and over throughout Quebec. Centraide will track this index for three years.
Download the latest report (April 2024)
Survey of 2,002 respondents conducted between February 12 and 27, 2024.
(Available in French only)
In collaboration with:
