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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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Trudeau's Leadership in Question as Conservatives Push for No-Confidence Vote

In a dramatic turn of events, Prime Minister Justin Trudeau's future as the leader of the Liberal Party is increasingly uncertain. Gerald Butts, a former chief adviser and close friend of Trudeau, has publicly stated that he believes Trudeau is unlikely to lead the party into the next election. This sentiment has been echoed by several Liberal MPs, especially following the unexpected resignation of Finance Minister Chrystia Freeland.

The political landscape in Canada is heating up as the Conservative Party, led by MP Jonathan Williamson, has announced plans to initiate a no-confidence vote against Trudeau's government. This motion is set to be introduced at a public accounts committee meeting on January 7, with the potential for a full House of Commons vote by January 30. The Conservatives are not alone in their push for change; NDP Leader Jagmeet Singh has also expressed his intention to support the no-confidence motion.

The resignation of Freeland has dealt a significant blow to Trudeau's leadership, with many political analysts predicting an early election in the spring of 2025. The Liberal Party is now faced with the challenge of either rallying behind Trudeau or preparing for a leadership race to find a new candidate to lead them into the next election.

As the political drama unfolds, Canadians are bracing for what could be a pivotal moment in the nation's political history. The outcome of the no-confidence vote and Trudeau's decision on whether to stay or step down will undoubtedly shape the future of Canadian politics.



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