Navigating January Blues and the Holiday Debt Hangover
Why Do We Worry About Money?
January is often called the “season of the credit card bill.” After the joy and generosity of the holidays, many Canadians open their statements and feel a wave of anxiety. Whether it’s the aftermath of Christmas spending or the pressure of New Year’s resolutions, money worries seem to peak this time of year.
But here’s a surprising truth: even the wealthy worry about money. Financial success doesn’t erase fears or insecurities. So, why do we worry - no matter our net worth? And how can we overcome these worries?
1. Fear of the Unknown
Uncertainty is a powerful source of stress. Market volatility, economic downturns, and unexpected life events can make anyone anxious about their financial future. Even those with substantial assets feel uneasy when the world seems unpredictable.
How to overcome it:
A comprehensive financial plan - especially one with contingency strategies - can help reduce anxiety and provide a sense of control. Knowing you have a roadmap for both sunny days and storms makes all the difference.
2. Responsibility to Others
Money isn’t just about personal comfort - it’s about caring for those we love and the causes we support. The obligation to provide for family, help children, support charities, or contribute to your community can feel overwhelming. These responsibilities often grow as your wealth grows.
How to overcome it:
A legacy plan that aligns with your values ensures your wealth is managed wisely and ethically. When your financial decisions reflect what matters most to you, worry gives way to purpose.
3. Maintaining Financial Independence
No matter how much you have, the fear of running out - or becoming a burden - lingers. Concerns about healthcare costs, long-term care, and maintaining your lifestyle are common at every wealth level.
How to overcome it:
Planning for healthcare and considering long-term care insurance can provide peace of mind. Proactive steps today help ensure you remain independent tomorrow.
So, What’s the Solution?
Understanding the roots of money worries is the first step. The next is action:
Build a financial plan that covers both the expected and the unexpected.
Align your wealth with your values and responsibilities.
Prepare for the future with strategies that protect your independence.
And remember: having a trusted advisor by your side makes achieving financial peace of mind possible. You don’t have to navigate these worries alone.
If you’re feeling the January blues or the holiday debt hangover, reach out. Together, we can turn worry into confidence—and make this year your most financially resilient yet.
Inspired by Oechsli’s “Why Do We Worry About Money?”
Any view or opinion expressed in this article are solely those of the Representative and do not necessarily represent those of Harbourfront Wealth Management Inc. The information contained herein was obtained from sources believed to be reliable, however accuracy is not guaranteed. The information transmitted is intended to provide general guidance on matters of interest for the personal use of the viewer, who accepts full responsibility for its use, and is not to be considered a definitive analysis of the law or factual situations of any individual or entity. Any asset classes featured in this presentation are for illustration purposes only and should not be viewed as a solicitation to buy or sell. Past performance does not necessarily predict future performance, and each asset class has its own risks. As such, this content should not be used as a substitute for consultation with a professional tax or legal expert, or professional advisors. Prior to making any decision or taking any action, you should consult with a licensed professional advisor.
Harbourfront Wealth Management Inc is a member of the Canadian Investor Protection Fund and the Canadian Investment Regulatory Organization .
