How to find peace of mind when it comes to your finances

If you’re a Millennial, you’re probably used to the stereotype: Endless student debt and no chance of home ownership (if you want your avocado toast, too). But this generation is becoming more and more financially savvy. Rising living costs, shifts in work cultures and the ability to grow investments have encouraged them to start looking at their finances more closely—and Scotiabank wants to help Canadians ease their financial worries with their new suite of investment tools, Sleep Advisor by Scotia Advice+.

A recent Scotiabank Worry Poll revealed that 3 out of 4 Canadians find themselves lying awake at night worrying about growing their investments, affording their day-to-day expenses, and paying off debt. This group spends around 10 hours a week worrying about their money—that’s equivalent to three weeks a year. Imagine what you could do with that time if you felt more at peace and in control of your money. It’s time to put your financial worries to bed—here’s how Sleep Advisor by Scotia Advice+ can help.

Get the rest you deserve

 Find yourself lying awake at night, worrying about the state of your investments or wondering how you’re going to put a down payment on your dream home? Scotiabank’s new Sleep Advisor Hotline (1-833-SLE-EEEP) can help you connect with a financial advisor to receive customized advice and financial planning personalized to your life and goals. If you’re nervous before even making the call, Scotiabank has already thought of it. The call-in experience has been made as peaceful as possible with unique daytime and nighttime meditations to help calm your mind before and after your chat.

Prefer finding information on your own? Consult the online Sleep Advisor Hub by Scotia Advice+ for answers to your questions about RRSPs, TFSAs, mutual funds, GICs and more. The Advice+ Centre has been updated to be organized based on your life stage, making navigating information as easy and stress-free as possible. Remember: There are plenty of things to consider when it comes to finances, regardless of your life stage. Avoid inadequate advice and get answers from a trusted financial advisor.

Getting started

About 75% of Canadians are actively worrying about their finances, and the pandemic has only expedited how young Canadians are looking at their short and long-term goals: Retirement, down payments, the rising cost of living and even education for their children. While the majority have basic investment knowledge, only half can explain the difference between a Registered Retirement Savings Plan (RRSP) and a Tax-Free Savings Account (TFSA) to their friends. Truth be told, the financial world can be overwhelming—but it doesn’t have to be. Getting started means reaching out to an expert and bypassing bad advice. The resources on the Sleep Advisor Hub by Scotia Advice+ can help you to plan ahead with step-by-step guides to financial planning, investing, budgeting and more. 

Seeing the difference

Ontarians spend an average of nine hours a week worrying about their finances. While less than other provinces, that’s still a decent chunk of a week that they could spend in more financially fulfilling ways. Despite these worries, 63% say they haven’t worked with a financial advisor in the last year, but Canadians who have don’t worry about their finances as much. Even if they do, they’re focused on growing and protecting their investments instead of fretting about the day-to-day expenses or paying off debt. Working with a financial advisor has an impact not only on your financial future but your mental health, too.

 Click here to explore Sleep Advisor by Scotia Advice+.