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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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Deadly Cloudbursts Ravage Himalayan Borderlands

 

India's National Disaster Response Force and other security personnel carry out a rescue operation after Thursday's flash floods in Chositi village, Kishtwar district, Indian-controlled Kashmir, on Aug. 15.


Torrential rains unleashed devastating flash floods across parts of India and Pakistan, killing at least 120 people and leaving dozens missing over the past 24 hours. The disaster struck mountainous districts on both sides of the border, where sudden cloudbursts triggered landslides, swept away homes, and stranded thousands.

In India-controlled Kashmir, the remote village of Chositi in Kishtwar district bore the brunt of the deluge, with at least 60 confirmed dead and more than 80 still unaccounted for. Rescue teams, battling mud and debris, evacuated hundreds, though officials warn the toll may rise as search operations continue.

Across the border in Pakistan’s northern regions, flash floods claimed dozens of lives, destroyed homes, and forced the evacuation of over a thousand stranded tourists. Authorities in both countries have suspended local events, including a major Hindu pilgrimage in Kashmir, as forecasts warn of more heavy rain.

Experts say the frequency of such extreme weather events is increasing, fueled in part by climate change and unplanned development in fragile mountain ecosystems.

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