Canadians show resilience and discipline as they take control of their finances amid uncertainty
Canadians are betting on themselves, not the system, as they navigate a turbulent economic landscape with surprising confidence and discipline, according to the latest IG Wealth Management Financial Confidence Index.
Despite 70 percent of Canadians describing national economic conditions as poor and 60 percent fearing a recession, the 2025 Index score has risen to 52, surpassing the historical average for the first time since 2021.
This paradox—macro pessimism paired with micro resilience—reflects a growing separation between concerns about the broader economy and confidence in personal financial management, as reported by IG Wealth Management and Ipsos Canada.
Personal financial discipline is emerging as a key driver of this resilience.
Canadians are strengthening their financial foundations, with 61 percent enjoying life because of the way they manage their money and 62 percent feeling prepared to meet their financial goals.
Financial literacy is on the rise, and confidence in personal finances is growing, particularly among women, Indigenous peoples, and Quebec residents, all of whom posted notable gains this year.
Cross-border anxiety remains high, with 74 percent expecting the US political situation to worsen and 68 percent anticipating a decline in the American economy.
Concerns over US tariffs are especially pronounced among older Canadians, highlighting the interconnectedness of Canadian and US economic fortunes.
Job market insecurity is also a significant concern.
The youth unemployment rate has climbed to 14.6 percent, the highest in decades, and half of Canadians expect the job market to deteriorate further in 2026.
A quarter of respondents fear for their own employment, with job security worries most acute among younger and lower-income Canadians.
New Canadians face unique challenges as their initial optimism fades over time.
Financial satisfaction and comfort with major purchases have declined, and only a third have sought financial advice in the past year.
Nearly half believe financial institutions could do more to empower them with the knowledge needed to manage their money confidently.
The advisory paradox is clear: while 55 percent of Canadians say human financial advice is more important than ever in the age of AI, only 46 percent currently work with a financial professional.
A third believe traditional advice is not keeping up with market realities, signalling a demand for innovation and modernization in financial services.
Indigenous financial confidence is on the rise, approaching the national average, as new policies and funding initiatives enable a shift from stakeholders to potential equity partners and decision-makers.
The IG Wealth Management Financial Confidence Index is conducted online by Ipsos Canada between August 18 and September 2, 2025, surveyed 2,000 Canadians.
