The question to ask yourself before any big financial move this year

Perhaps you’ve noticed that people are kind of cranky these days.

A theory on why this is so: too much change, coming too fast.

Adapting on the fly to unprecedented events, many people have made decisive life changes that bring stress as well as joy. Some insight on these changes can be found in a poll commissioned by Canadian Imperial Bank of Commerce. Some highlights:

• 17 per cent of the 1,522 people surveyed changed employment in the past two years.
• 12 per cent moved to a new home.
• 11 per cent acquired a new pet.

A lot of good can come out of moves like this. In the CIBC poll, the top reasons for changing jobs were better pay, better benefits, the need for a change and better work-life balance. But a new job, house or pet requires a period of adjustment at a time when we’re continually being called upon to be flexible and open to change in other aspects of our lives. Pandemic rules keep shifting, people are being called back to the office, inflation is making people poorer and rising interest rates make it more expensive to be in debt.

The CIBC poll found that close to half of participants are still looking to make a major life change. In many ways, this is an ideal time to make a bold move. The job market is as inviting as it’s been in years for people to improve their careers, and it’s possible that housing affordability will improve if house prices keep falling.

But you have to know your limits on change, especially where your finances are involved. Between rising rates, stubborn inflation and a growing recession risk, the economy is as precarious as we’ve seen in decades. A handy measuring stick for making a change in the months ahead: with all that’s going on, will it make you calmer or more stressed?