Mina Ahangar Seddigh

Canada has only five biweekly paydays before Black Friday, giving households a short window to review current balances before holiday spending pressures build.
Carrying a balance already in current weeks, then layering holiday spending on top, can add more interest before repayment even begins to reduce principal.
Back-to-school costs of $600 to $750 per child, plus travel, repairs, and living costs, can leave less room for holiday purchases ahead.
One in 4 consumers expected to make only minimum payments in coming months, a sign many households were preparing for a tighter stretch.
A practical next step: total existing debt, cap holiday spending, target highest-interest balances first, use cash when possible, and reserve funds for Early-Q1 bills.

Canada’s Credit Card Debt Hits $134.2B

Canada’s supplement is a monthly, tax-free payment for people 65+ who also qualify for the federal seniors pension, helping support lower-income older adults.
In many cases, the federal service can enroll eligible people automatically and mail notice. If no letter arrives 1 mo after turning 64, apply.
Maximum monthly support reaches $1.1K for single, widowed, divorced, or uncovered partners, and up to $676 when a spouse receives the federal pension or allowance.
Payments may stop or shrink if 2025 taxes are not filed. To avoid interruptions, file soon or report income directly to the federal service.
Related support includes options for spouses and widowed adults ages 60 to 64. People under 70 can keep contributing while receiving retirement benefits.