More Albertans struggling with money stress: survey

EDMONTON – More people in Alberta are dealing with money-related mental health issues than in any other province, a new survey suggests.

Data from Credit Counselling Canada (CCC) shows Alberta dwarfs the country when it comes to mental health struggles.

The CCC says housing, unemployment, income, and educational challenges all play a role in the low quality of mental health in the province.

Over half of Alberta (53 per cent) told the CCC their mental health has worsened since the beginning of the pandemic as a direct result of their financial situation. Nationally, 40 per cent of Canadians said the same.

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About a third of people polled said their mental state has deteriorated because of housing insecurity. The CCC says Alberta is also the highest in the country in this category.

Fifty-five per cent say household expenses have impacted their mental health, and 42 per cent said the same of consumer debt payments.

Parents have also reported concerns about how the familial financial situation will impact their kids, with 81 per cent saying they’ve tried to shield their kids from any financial or mental stress brought on by COVID-19.