This is the second blog post in our Financial Literacy Series, in which we discuss the relationship between your finances and your personal health and wellness—and aim to increase your financial literacy and understanding.

Check out our first blog in the series, Financial Literacy and Wellness 101.

As a quick recap, financial literacy is how well you know and understand finance. Similar to your ability to read, your financial literacy highlights your knowledge, skills, confidence, and ability to make decisions when it comes to money. 

Financial wellness, on the other hand, is just like your own personal health—and does, in fact, have a direct effect on your health. It’s more of a feeling than anything. How well do you feel about your current financial status? Do you feel confident that you can afford your lifestyle and are happily saving for the future? 

Generally speaking, the more financial literacy one has, the greater their financial wellness. 

That is, if someone has ample knowledge of how to make money, budget, save, invest, and so on, they likely feel good about their personal finances. As we mentioned in a past post, a study found that 85% of Canadians with comprehensive financial plans had higher financial wellbeing than those with limited plans. A majority of them also had higher emotional wellbeing.     

So what are the signs that you need help with your finances? 

21 signs that you need help with your finances

Here are 21 tell-tale signs that it’s time to get informed about your personal finances—and to boost your financial literacy and wellness now:

  1. Struggle to pay bills on time
  2. Maxed out credit cards
  3. Monthly minimum payments are unaffordable
  4. Multiple debts and overdue loans
  5. Inability to make a budget or plan 
  6. Lack of understanding when it comes to your income, cost of living, and debt
  7. Feeling like you can’t afford your lifestyle and future plans
  8. Lack of knowledge on how to effectively save and make sound investments
  9. Worrying about debt and finances often
  10. Creditors and collection agencies calling about past dues
  11. Paying bills with lines of credit, credit cards, or other loans
  12. Losing sleep over money stress 
  13. Wondering how your peers can afford their lifestyle and future plans
  14. Avoiding tax season and accounting altogether
  15. Feeling stressed about spending any money
  16. Binge spending and shopping despite being in debt
  17. Worrying that you can’t afford the future you planned for
  18. Inability to set aside emergency and future savings
  19. Avoiding learning more about finances because it’s overwhelming or confusing
  20. Avoiding making investments or contributions because of lack of knowledge
  21. A bad credit score is starting to affect your life

If any of these ring true for you, perhaps it’s time to do some research, get educated about your personal finances, and seek professional financial help. 

There are plenty of online resources, professionals, and businesses, such as Progressa, that offer step-by-step guidance to working your way out of debt, making sustainable and healthy financial plans, and helping you gain the financial literacy necessary to find a place of wellness. Know that help is here if you need it. 

In our next blog post in the Financial Literacy Series, we’ll discuss How to keep of your expenses. Stay tuned!

Tags : financial literacypersonal finance
Sam Milbrath

The author Sam Milbrath

Sam Milbrath is a freelance copywriter and brand marketer. When she isn’t writing for brands or doing her own creative writing, she’s exploring, taking photographs, gardening and doing pottery. Check out her work at