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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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Energy Shockwaves Ripple Across the Middle East

            Smoke billows from Saudi Aramco's Ras Tanura oil refinery after a reported Iranian drone strike.

A surge of coordinated strikes across the Middle East has forced the shutdown of major oil and gas facilities in Saudi Arabia, Iraqi Kurdistan, and Israel, intensifying global energy concerns. Saudi Arabia closed its largest domestic refinery at Ras Tanura after a drone strike triggered precautionary measures and a limited fire. 

In Iraqi Kurdistan, most oil production has been suspended as regional tensions escalate, while Israel has halted operations at key offshore gas fields—including Leviathan and Karish—to safeguard infrastructure amid ongoing Israeli, U.S., and Iranian military exchanges. 

These disruptions have tightened global supply expectations, contributing to a sharp rise in oil prices and raising fears of broader instability in energy markets. The shutdowns underscore how quickly geopolitical conflict can reverberate through critical energy corridors, affecting everything from regional exports to global fuel costs. 

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