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1 in 4 Canadians Can Only Afford the Minimum Payment on Their Credit Card

  Published August 24, 2026 · Canadian Money Brief A new survey from Equifax Canada puts a hard number on something a lot of us have felt creeping up all year: credit cards are doing more of the heavy lifting in Canadian budgets, and fewer people are paying them off. Of more than 1,500 Canadians surveyed, a quarter said they expect to make only the minimum monthly payment on their credit card, and another 7% think they'll fall behind entirely. That leaves just over half — 56% — who expect to pay their balance in full each month. The survey also found that 40% of respondents are spending more overall than they were a year ago, more than double the 18% who say they're spending less. Nearly 3 in 10 said they're leaning more heavily on credit cards to cover essentials like groceries and utilities, and close to a quarter are dipping into savings to keep up with everyday costs. More than a third have cut back on contributions to savings, investments, or education funds to make ro...
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Canada’s Carbon Price Increases: What You Need to Know


Canada’s carbon price has taken center stage once again as it ramps up despite calls from several provincial leaders for a pause. Prime Minister Justin Trudeau’s minority Liberal government considers the carbon price a cornerstone policy in the fight against climate change. But what does this increase mean for Canadians?

The looming April 1 carbon price hike is not an unexpected surprise. The idea behind it is simple: by putting a price on pollution, people will be incentivized to use fewer fossil fuels, ultimately driving down emissions from our economy. This incremental approach is part of the government’s overall pricing scheme, with planned increases until at least 2030. Provinces and territories can voluntarily adopt the federal pricing system or face the federal backstop plan to ensure consistent carbon pricing across Canada.

The planned increase will be most noticeable at the gas station and on energy bills in provinces and territories where the federal backstop plan applies. While it’s true that the carbon price contributes to energy costs, it remains a smaller factor compared to global oil prices and corporate profitability. So, while you might notice a slight uptick at the pump, it’s essential to recognize that the effects on household affordability are not as dramatic as some might fear.

Canadians will also experience indirect effects, such as transportation costs filtering down into food prices. But remember, this is part of a broader effort to create a more sustainable future for our planet.

In summary, brace yourselves for the carbon price increase, but keep in mind that it’s a step toward a greener, cleaner Canada. 

Sources:

  1. Global News
  2. Global News Video
  3. Global News
  4. Global News
  5. Global News
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