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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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Ontario Braces for a Sloppy Winter Mix as Boxing Day Storm Rolls In

A pedestrian make their way through Toronto's downtown core as a winter storm starts to hit the city.

Ontario is facing a messy blend of winter weather today as a sprawling storm system sweeps across the province, bringing snow, ice pellets, and hazardous travel conditions during one of the busiest shopping days of the year.

The Greater Toronto Area is expected to see light snow develop through the afternoon before transitioning to ice pellets and freezing drizzle in the evening. While accumulations in the GTA may stay modest, the mix of precipitation is creating slick roads and reduced visibility, prompting caution for drivers heading to Boxing Day sales or returning from holiday gatherings.

Further north, communities across Central and Northern Ontario are dealing with heavier snowfall, with totals ranging from 5 to 20 centimetres depending on the region. Environment Canada has issued multiple weather advisories, warning of rapidly changing conditions and the potential for difficult travel on major highways.

Airports in Toronto, Ottawa, and Hamilton are also reporting delays as crews work to keep runways clear and manage the influx of holiday travelers.

With temperatures hovering around the freezing mark, forecasters say the precipitation type may continue to shift throughout the day, making conditions unpredictable. Residents are encouraged to monitor local alerts, allow extra time for travel, and prepare for a slippery evening commute.

Despite the storm, many Ontarians are still venturing out — but today, winter is reminding everyone who’s really in charge.


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