Photo Credit: Edward Jones

💵 Canadians Feel Grateful About Money, but 88 per cent are Not Financially Fulfilled

Wednesday, 03 June 2026 04:33.PM

- New Edward Jones Canada and Gallup survey introduces new measure for financial well-being and finds short-term goals are taking priority -

A new Edward Jones and Gallup study reveals a paradox in how Canadians feel about money: gratitude is the most commonly reported emotion (48%) when thinking about finances, however, only 1 in 10 (12%) are financially fulfilled. Interestingly, while gratitude tops the list, stress (38%) follows as the second most reported emotion among Canadians.

Released today, Money and Meaning: Understanding Financial Fulfillment looks at how Canadians feel about and manage their finances, and creates a new way to measure financial fulfillment. The study placed Canadians into one of three categories based on their responses to a 37-question assessment: financially fulfilled (12%), conflicted (47%) – neither confident nor in crisis – or financially stressed (41%).

Financial fulfillment, as defined in the study, is a state in which finances feel aligned with what matters most to a person. It reflects not only financial security, but also whether money creates freedom, confidence and forward momentum in one's life rather than ongoing strain.

Short-term priorities overtake long-term goals

The apparent disconnect between how Canadians feel about their finances and their level of financial fulfillment may be better understood in the context of shifting priorities. Many are focusing on more immediate financial needs. For example:

• More than half (52%) say income for a healthy lifestyle is a high priority.
• Nearly half (47%) say increasing household income is a high priority.
• A similar share (46%) say reducing debt is a high priority.

By comparison, saving for retirement (44%) and saving for a home (21%) rank lower on the priority list, as many Canadians focus on more immediate financial goals. In fact, a quarter (26%) of respondents report they are making significant financial sacrifices to reduce expenses.

"What this research makes clear is that even when people feel grateful, many aren't yet experiencing the kind of confidence and freedom they want in their financial lives," said Penny Pennington, Managing Partner, Edward Jones. "For many Canadians, the pressure to focus on today can make it harder to stay connected to what matters most over time. When people have a plan and someone to partner with them, money becomes less about tradeoffs and more about supporting the life they want to live."

Confidence and control increase with financial guidance

As Canadians navigate competing financial priorities, where they turn for guidance is shaping their confidence and control. Self-guided internet research is the top source of financial guidance, with 59 per cent of Canadians turning to it over the past year – compared to 43 per cent who sought guidance from a financial advisor. However, the strongest outcomes are tied to professional advice. In fact:

• Canadians who sought guidance from a financial advisor in the past year are more likely to feel confident managing their current financial needs (90% vs. 70% who did not).
• Similarly, 82 per cent of those who used a financial advisor in the past year say they feel they are in control of their financial future, compared to 60 per cent of those who did not.

While less than half of Canadians turn to financial advisors, they remain the most trusted source of financial guidance. This holds true for Canadians overall, regardless of whether they work with a financial advisor. More than three-quarters (76%) of Canadians report confidence in financial advisors' expertise, compared to 64 per cent for relatives or family members.

"When financial pressures are constant, confidence can wane as decisions feel more focused on the here and now," said David Gunn, Principal, Head of Canada & U.S. Business Units, Edward Jones. "What this data shows is that guidance can make a meaningful difference – helping people better understand their options, build a plan tailored to their short- and long-term goals, and stay on track with greater confidence and control as they navigate economic uncertainty on a path towards financial fulfillment."

To learn more about this research, read the full report here: Money and Meaning: Understanding Financial Fulfillment

Key takeaways:

• A new Edward Jones Canada and Gallup survey reveals a paradox in how Canadians feel about money: Canadians feel grateful (48%) but 9 in 10 (88%) are not financially fulfilled.
• Canadians are focusing on immediate financial goals, including income for a healthy lifestyle (52%), increasing household income (47%) and reducing debt (46%).
• Self-driven internet research is the top source of financial guidance, with 59 per cent of Canadians turning to it over the past year, compared to 43 per cent who sought guidance from a financial advisor.

SOURCE: Edward Jones

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