Trump’s Tariffs Are Making Life More Expensive – Here’s How Canadian Women Can Manage the Mental Toll
By Dr. Easter Yassa, Registered Psychologist
The rising cost of living in Canada has been a growing concern, but with the recent increase in tariffs imposed by Trump, many high-achieving women are feeling the financial strain more than ever. Inflation, skyrocketing grocery bills, and the overall cost of essentials have made it difficult for many women to feel secure. For Canadian women balancing careers, families, and personal goals, this financial stress can be overwhelming, leading to heightened anxiety, difficulty budgeting, and a deep sense of uncertainty about the future.
As a high-achieving woman, you likely take pride in your financial independence, strategic planning, and ability to provide for yourself and your loved ones. But when external factors like economic instability disrupt your carefully structured life, it can trigger deep-seated emotional and psychological challenges. The good news? You don’t have to navigate this alone. Online therapy can provide a structured, compassionate, and expert approach to help you regain control over your emotions and financial stress. Below, we explore the key ways this stress manifests and, more importantly, expert strategies from PhD psychologists to help you cope and thrive.
1. Anxiety About Financial Security And Budgeting Stress
With prices rising on nearly everything—from rent to groceries to transportation—it’s easy to feel like your budget no longer stretches far enough. The fear of slipping into debt, making financial mistakes, or not being able to maintain your lifestyle can feel paralyzing, especially when you're also responsible for supporting a family or planning for one.
Psychologist-recommended strategy:
When financial fears spiral, mindfulness techniques help center you in the present. Setting aside dedicated “money check-in” times helps prevent avoidance and keeps your brain from catastrophizing. Your amygdala—the part of the brain responsible for fear responses—calms down when it knows there’s a structured plan in place. Working with an online therapist can help you develop a personalized financial coping strategy that integrates emotional regulation and logical planning. From an existential perspective, connecting your budgeting to your deeper values—such as providing stability for your family or ensuring financial independence—can help ground your decisions in meaning rather than fear.
2. Perfectionism And Self-Worth Tied To Financial Success
Many high-achieving women equate financial stability with self-worth. When external factors like inflation and tariffs create obstacles, feelings of failure or shame may surface, even though these challenges are beyond your control.
Psychologist-recommended strategy:
Recognize and challenge the inner critic that tells you financial setbacks mean personal failure. Reframe your financial journey through the lens of resilience—a quality deeply ingrained in Canadian culture. Rather than seeing economic hardship as a reflection of your inadequacy, view it as a temporary challenge that you have the strength to overcome.
Seeking support through online therapy can help break unhealthy thought patterns and build a mindset of self-acceptance and flexibility. An existential approach would encourage you to explore how your self-worth is defined beyond finances—perhaps through your contributions to family, your values, and the relationships that bring meaning to your life.
3. Fear Of Losing Control Over Finances And The Future
The unpredictability of tariffs, shifting interest rates, and rising costs can create a sense of powerlessness. High-achieving women often thrive in structured environments, making financial uncertainty feel particularly unsettling, especially when they feel responsible for their family’s well-being.
Psychologist-recommended strategy:
Financial uncertainty is inevitable, but how you approach it matters. Instead of resisting the unknown, practicing radical acceptance allows you to shift from fear to action.
Consider exploring existential therapy, which helps individuals find meaning and purpose in uncertainty. Additionally, having a plan for managing or avoiding debt—such as consolidating loans, cutting unnecessary expenses, or speaking with a financial advisor—can give your amygdala the reassurance it needs to stop triggering chronic stress responses. Online therapy can provide guided exercises and financial stress reduction techniques to help reframe uncertainty in a way that feels empowering. Grounding yourself in values—like ensuring your family's well-being or maintaining integrity in financial decisions—can provide a sense of purpose even in uncertain times.
4. Emotional Exhaustion And Burnout From Financial Worries
Constantly worrying about money, debt accumulation, and future stability can lead to physical and emotional burnout, impacting your well-being and productivity, and sometimes causing strain in family dynamics.
Psychologist-recommended strategy:
If financial stress is consuming your thoughts, consider setting emotional boundaries around money discussions. Engage in conversations that are solution-focused rather than fear-driven. Online therapy can help you process emotions, avoid financial burnout, and set realistic expectations for yourself and those around you. From an existential perspective, reflecting on what truly matters in your life—whether it’s family, professional growth, or community—can help shift the focus from external pressures to internal fulfillment.
Conclusion
As a Canadian woman with a family, I understand the stress and uncertainty that come with rising costs and economic changes. In my work as a PhD Psychologist, I’ve seen firsthand how financial anxiety can impact high-achieving women, both emotionally and practically. But you don’t have to navigate these challenges alone.
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Through online therapy, I provide tailored support to women across Alberta, Nova Scotia, New Brunswick, Quebec, and Nunavut, helping them find resilience, balance, and peace of mind. If you’re feeling overwhelmed by financial stress, I invite you to reach out and explore how online therapy can offer guidance and strategies to help you move forward with confidence. You can start your therapy journey with I Matter by following these steps:
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