Canadians brace for holiday financial strain: Concerns rise over managing seasonal expenses

The findings underscore a prevalent concern gripping many families as the holiday season approaches, revealing heightened anxiety surrounding financial matters, as well as the following major findings:

• Nearly one in four Canadians (23%) navigate ongoing struggles with food and housing security, heightening anxiety over meeting rent or mortgage obligations.

• Financial concerns continue to be a predominant factor of mental health with two in five Canadians (41%) indicating the economic downturn has negatively impacted their mental health.

•  Canadians report record high access to mental health care (15%) – these are the highest levels since moving into the COVID-19 pandemic “recovery period”.

Additional major findings of concern from Poll 18 include:

• The prevalence of suicide ideation is alarmingly elevated among individuals experiencing financial challenges with a staggering 42% reporting having thought about suicide in the past year.

• Nearly half of Canadians have experienced a chronic pain issue – with half of those (27% of all Canadians) currently experiencing it. Notably, one-in-ten (11%) Canadians aged 16-34 report currently being affected by chronic pain.

• Reported use of opioid medications for chronic pain management has doubled over the last five years from 5% to 10%.

• In-person mental health support is preferred by Canadians (46%), followed by hybrid approaches (26%), encompassing both virtual and in-person elements.

The above are just some of the key findings of MHRC’s eighteenth poll, part of a multi-year effort to track the mental health challenges of COVID-19 and beyond.