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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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Ceasefire Hopes Clash with Renewed Violence in Gaza

 

                           A man covers the body of a Palestinian following an Israeli airstrike, in Gaza City


Israeli forces intensified their bombardment of Gaza City overnight, targeting eastern districts with airstrikes and tank fire that left at least 11 people dead, according to witnesses and medics. The renewed offensive comes amid growing international concern over the humanitarian crisis in the enclave, where widespread destruction and food shortages have displaced millions.

The escalation coincides with a diplomatic push to revive ceasefire negotiations. Senior Hamas leader Khalil Al-Hayya is expected in Cairo for talks aimed at salvaging a U.S.-backed proposal for a 60-day truce and hostage exchange. Previous rounds of indirect negotiations in Qatar ended in deadlock, with both sides blaming each other for the impasse.

Israeli Prime Minister Benjamin Netanyahu has signaled plans to expand military control over Gaza, a move that has drawn criticism from both domestic and international observers. Military officials warn that further incursions could jeopardize the safety of hostages and increase risks for Israeli troops.

Meanwhile, Gaza’s health ministry reported five additional deaths from starvation and malnutrition in the past 24 hours, bringing the total to 227 since the war began, including 103 children. Israel disputes these figures, but the growing toll underscores the urgency of diplomatic efforts to halt the violence.

The situation remains volatile, with both military action and negotiations unfolding simultaneously—each shaping the fate of millions caught in the crossfire.

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