Here’s how you can get in financial shape this new year, straight from an expert

According to the 2024 Financial Stress Index, the top source of stress for Canadians has remained money for the seventh consecutive year — and for good reason.

With the cost of living frustrating many Canadians and certain American goods getting more expensive, setting yourself up for a strong financial future is more important than ever.

If you’re struggling to keep your goals in order, we spoke with Financial Planner for Desjardins Group Angela Iermieri about how to get serious about your finances, so you can meet your 2025 financial goals and beyond.

Get a fresh perspective on your finances

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While major economic trends may fluctuate and change, Iermieri stresses focusing on financial decisions you can control — like your budget, savings, and reducing debt — and their impact on your financial health.

“There are a lot of unknowns facing us in 2025,” Iermieri tells Daily Hive. “That said, there are a few steps individuals can take to prepare for the unexpected while working toward financial goals.”

The first step is assessing your current financial situation to see how you’re holding up. 

Go through your monthly spending, compare it to your income, and assess your current savings to grab a realistic portrait of your current finances.

Setting your financial goals

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Once you’ve established your baseline, the next step is to set realistic expectations for what you’d like accomplished for the next year.

This looks different for everyone and can include paying down debt, building emergency savings, planning for a large purchase, or investing in your retirement. These goals don’t have to be definitive, and can change as your circumstances do.

“Be careful about taking on too much all at once,” says Iermieri. “For the same reason why crash diets fail, if you try to restrict yourself too much, you’re going to find the plan difficult to stick to. Choose small achievable steps that you can build into daily habits, and make sure you are leaving yourself room to enjoy your day-to-day.”

Using budgeting tools and calculators can help you track your spending and plan for future goals.

Hold yourself accountable

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Obviously, it’s easy to set your goals, but finding someone you can talk to about your finances will help hold you accountable as you work to meet your goals.

“All Canadians should feel comfortable talking about finances, but the approach can differ depending on the context. Being on the same page with budgeting, saving and financial goals with loved ones can look different for everyone, but it’s essential for creating a strong foundation for financial well-being.”

Speaking with a financial advisor can also help alleviate the stress and stigma surrounding finances, as research has shown that Canadians who work with a financial advisor experience less stress and are more optimistic about their financial futures.

“If unexpected financial challenges arise, the key is not to panic … Don’t hesitate to reach out to a financial advisor for guidance since they can help you reevaluate and create a new plan to navigate the situation effectively.”

Get a financial education

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If you’re struggling to start with even discussing your finances, many resources are available to you through trusted financial institutions.

In fact, Iermieri points to online platforms like Desjardins’ financial literacy game, Unforeseen, which can offer an interactive way to enhance financial literacy. 

Or, financial newsletters and influencers can be valuable sources of information, but you have to be careful they’re providing credible information from trustworthy sources. 

“By using these tools, Canadians can improve their financial literacy and make better decisions to secure their financial future.”

Regardless of your goals, Desjardins has tools and resources you can trust, and advisors that’ll put you on the path to success.