So you didn’t meet your financial goals in 2025 – here’s how you’ll be able to do higher

Many Canadians missed vital goals

A 12 months ago, in an analogous survey, 51% of respondents said they desired to repay their debt in 2025, but only 26% managed to achieve this. An analogous number, 49%, had a goal of saving for the long run last 12 months, but only 30% of this 12 months’s respondents said that they had achieved that task. At the tip of 2024, 36% of respondents said they planned to create or update their will in 2025, but only 9% actually did so. Of the 18% who were on the lookout for a house in 2025, only 4% bought one.

In fact, the share of the population that has checked major financial tasks off the list could have taken a small step backwards in 2025. 40 percent said that they had a will (up from 41% in 2024), 34% had life insurance (up from 35% the 12 months before), and 24% had an influence of attorney (up from 27% in 2024). Only 30% of respondents said that they had discussed a financial emergency plan with their families and had the suitable planning documents, reminiscent of a will.

The results all come from a web based survey of 1,503 Canadian adults who’re members of the Angus Reid Forum. The survey took place in October. The results are considered accurate with an accuracy of two.5 percentage points in 19 out of 20 cases.

Why the Canadians fell behind

Although the specter of inflation has eased somewhat – 72% of respondents said they were frightened about its impact on their funds, in comparison with 86% a 12 months ago – latest risk aspects reminiscent of tariffs (53%) and unemployment (44%) are at the highest of the list of reasons for failing to fulfill financial goals. More than a 3rd (37%) felt worse off than last 12 months and 46% said that they had to dip into savings to cover their expenses. The proportion of Canadians who’re optimistic about their financial future fell from 53% in 2024 to 46% in 2025.

“All of these factors led Canadians to largely put off these financial to-dos related to their long-term financial health and well-being and instead just worry about day-to-day things,” says Erin Bury, co-founder and CEO of Willful. People’s ability to attain their goals can be compromised by generally low levels of economic literacy and the problem of constructing difficult decisions and delay in gratification within the face of promoting, peer pressure and social media that urge us to do the other.

“That’s where ignorance comes in. It’s really common to avoid thinking or planning for the future, and to avoid thinking or planning for something unpleasant,” says Bury. “Most persons are just focused on ‘How do I get through 2026?’ and never to the query ‘What will my financial situation appear like in 2056?’”

Steps to get back on the right track in 2026

Bury recommends writing down your financial goals as a primary step to moving forward in 2026. Review these and adjust as needed all year long. Add reminders to your calendar. Monthly contributions do not have to be huge to make a difference in the long term.

“I have an RESP for my kids. I don’t invest thousands of dollars a month, just a small amount,” she says. “The greatest asset we have when investing is time.”

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Willful created a month-by-month Checklist to enable you to stay on the right track for estate and other financial goals in 2026. This includes funding your RRSP for the 2025 tax 12 months in February, centralizing your account information in a single place in April, and organising a password manager to your various accounts in October.

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About Michael McCullough

Michael is a financial journalist and editor based in Duncan, BC. He is the previous editor-in-chief of Canadian Business and editorial director of Canada Wide Media. He also writes for The Globe and Mail and BCBusiness.