The Harris & Partners Financial Resilience Index has revealed a stark truth: 2025 was the year financial strain in Canada transformed into a nationwide breaking point. Drawing on more than 12,000 survey responses, the Index shows a country pushed to its limits by rising living costs, shrinking savings, and mounting emotional pressure.
You can download the full report here: Harris & Partners Financial Resilience Index 2025
A Nation Under Strain
Across every survey conducted this year, Canadians consistently reported that their income no longer keeps pace with essential expenses. Many described living paycheque-to-paycheque and reducing spending on basics like groceries, heating, and transport.
“Canadians are exhausted, financially overextended, and increasingly unsure how to stay afloat,”
says Joshua Harris, CEO and Licensed Insolvency Trustee.
More detailed affordability statistics are available in the full Index: Download the full report
Borrowing to Get By
A growing number of Canadians turned to borrowing simply to manage everyday expenses, including emergency costs and essential bills. Reliance on credit — including high-risk options such as payday loans — became a key marker of declining financial resilience in 2025.
Emotional Impact and Burnout
The Index shows that financial stress is now deeply intertwined with mental and emotional well-being. Canadians reported increased anxiety, sleeplessness, burnout, and strain within relationships — with many hiding their financial challenges from loved ones.
Students and young adults reported some of the highest stress levels in the Index, citing rising rents, stagnant wages, and long-term debt obligations. Many expressed doubt that current financial systems support their future stability.
Further demographic analysis is included in the full Index: Download the full report
Holiday Pressure and Rising Insolvencies
Results from the Harris & Partners Christmas Spending Report show how year-long financial strain spilled over into the holidays, with most households cutting back for Christmas. National insolvency data also reflects this trend, marking the highest consumer insolvency levels since 2009.
A Critical Turning Point
Despite the challenges, a majority of Canadians still believe their situation could improve in 2026 — a sign of underlying resilience.
Harris & Partners urges Canadians to seek support early and explore regulated debt-relief options, including consumer proposals and licensed insolvency guidance.
