Nearly 9 in 10 parents say money causes stress at home, Wealthsimple survey finds

The findings suggest many families aren’t necessarily struggling with whether they can afford something outright, but with how to balance competing priorities at a time when everything feels more expensive. “Our clients’ financial lives are more complex than ever, with partners, kids, side businesses, and aging parents,” said Brett Huneycutt, co-founder and chief product officer at Wealthsimple, in a statement.

Rising costs are making financial planning harder

According to the survey, nearly half of couples with children say cost-of-living pressures have forced them to make financial trade-offs, while 39% say it has become harder to plan ahead financially.

The pressure appears even sharper among solo parents. More than half reported making financial trade-offs, and 41% said rising costs have made long-term planning more difficult.

The survey also points to a disconnect between shared finances and shared financial clarity. While two-thirds of Canadian couples say they combine at least some of their finances, many still struggle to communicate openly about spending decisions and household priorities.

In some cases, respondents admitted downplaying purchases or avoiding certain conversations altogether to sidestep tension at home.

Household finances are becoming more complicated

The findings also highlight how financial life has become increasingly layered for many Canadians.

Families are often balancing mortgages, childcare costs, investments, side income, shared expenses and multiple financial accounts all at once. Keeping track of it all — especially during periods of economic uncertainty — can become difficult even for households with stable incomes.

Wealthsimple says that growing complexity is part of the reason it is expanding further into family-focused financial tools, including shared household account tracking and products aimed at children and teens.