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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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Europe Ablaze: Wildfires and Record Heat Grip the Continent

 

Burning trees are pictured during a wildfire in Carcastillo, northern Spain, Sunday, Aug. 10, 2025.


As Europe endures one of its most punishing summers in recent history, wildfires have erupted across multiple countries, fueled by relentless heatwaves and dry conditions. Temperatures have soared past 40°C (104°F) in regions from Spain to Turkey, prompting mass evacuations and straining emergency services.

A Continent Under Fire

  • Spain: Fires have ravaged areas near Madrid and across Castile and Leon, Andalusia, and Galicia. A man tragically died from burns sustained in a blaze, and thousands were evacuated from homes and tourist hotspots like Tarifa.
  • Portugal: Over 700 firefighters are battling a major fire in Trancoso, with additional blazes threatening northern regions.
  • Turkey: In Canakkale province, strong winds spread flames from farmland to residential areas, forcing 2,000 evacuations and hospitalizing dozens due to smoke exposure.
  • France: Southern regions are under the highest heat alert, with temperatures exceeding 40°C for consecutive days. Fires continue to smolder in Aude, where a deadly blaze last week scorched thousands of hectares.
  • Greece and the Balkans: Zakynthos island and parts of Albania and Montenegro face evacuations as wildfires intensify amid high winds and extreme heat.

Climate Crisis Intensifies Scientists warn that Europe is warming at twice the global average, making it increasingly vulnerable to extreme weather events. The European Union’s Copernicus Climate Change Service reports that last year was the hottest on record for the continent, and 2025 is on track to be among the top three globally.

Human Toll and Urgency The heatwave has already claimed lives, including a four-year-old boy in Italy and a seasonal worker in Spain. Officials across Europe are issuing red alerts, opening cooling centers, and urging residents to stay indoors. As one Portuguese mayor put it: “We are being cooked alive, this cannot continue”.

This unfolding crisis underscores the urgent need for climate action, infrastructure adaptation, and international cooperation to combat the growing threat of heat-driven disasters.


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