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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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Heat Wave Continues: Record-Breaking Highs and Global Impact

 

The scorching heat wave gripping much of the United States shows no signs of relenting. As forecasters issue warnings about record-breaking temperatures, millions of Americans find themselves under heat advisories. Here’s what you need to know:

U.S. Heat Wave Highlights

  • Affected Regions: The extreme heat has shifted from the Midwest and Ohio Valley into the Mid-Atlantic states. Approximately 100 million people, particularly along the I-95 corridor on the East Coast, are feeling the heat.
  • Temperature Projections: While parts of the Northeast may experience cooler temperatures in the 70s and 80s, the mid-Atlantic region is forecasted to reach the mid-90s and possibly even the 100s. New York City’s heat index could reach 103, Philadelphia’s 110, and Washington, D.C.'s 110.
  • Southwestern U.S.: Southern California, Arizona, and Nevada are also bracing for temperatures above 100°F. Meteorologists predict “monsoon-like” conditions in the region.
  • Health Impact: Emergency room visits related to heat have surged in the hardest-hit U.S. regions. Reliable air conditioning is crucial for coping with this prolonged heat.

Global Heat Trends

  • Europe: Serbia recorded temperatures of 104°F, while forest fires raged in Greece and Portugal. The European Union’s climate change monitoring service reports 12 consecutive months of record warmth.
  • Southeast Asia: The heat wave triggered school closures and health warnings.

Stay safe, stay hydrated, and seek shelter from the scorching sun. Let’s all work together to beat the heat! 


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