@author_matthewflagler: Canadians are drowning in debt. And apparently, according to Carl, it’s because we won’t stop buying avocado toast. 😂 Well, some new Canadian research suggests the problem is considerably bigger than that. According to an analysis from the C.D. Howe Institute, Canadian households are experiencing dramatically different financial realities. 💰 The highest-income 20% of households saved an average of approximately 34% of their disposable income in 2025. 📉 Middle-income households spent approximately 12% MORE than their after-tax income. 🚨 And the lowest-income 20%? They spent MORE THAN TWICE their disposable income. Meanwhile, younger Canadians are reporting extraordinary financial pressure. At the end of 2025, adults aged 18–24 reported an average 50% probability of missing an upcoming debt payment, compared with less than 1% among those over 54. Those are self-reported expectations, not actual default rates. But the contrast is striking. In this episode of Who Gets Left Behind? | Social Justice in Canada, we’re examining Canada’s household debt problem—and why the national averages conceal serious financial stress among younger and lower-income Canadians. We’re talking about the rising cost of housing, groceries, utilities, transportation and other necessities. Why borrowing to cover everyday expenses can create a cycle of debt. And why financial advice about skipping coffee isn’t particularly helpful when someone’s essential expenses already exceed their income. Yes, budgeting matters. Yes, people sometimes make poor financial decisions. But budgeting cannot manufacture income that doesn’t exist. And when millions of Canadians are struggling to cover today’s expenses, how exactly are they supposed to save $35,000 for a down payment on a $600,000 home? That’s where we’re going in our NEXT episode: Housing Affordability in Canada. Because there’s a difference between living beyond your means and having the cost of living move beyond your means. Source: C.D. Howe Institute research by Mawakina Bafale and Peter MacKenzie, as reported by The Globe and Mail, October 2026. Household financial data drawn from Statistics Canada and the Bank of Canada’s consumer survey. Author | I write horror. I speak injustice. Because the real monsters aren’t always fiction. #debt #costofliving #socialjustice #affordabilitycrisis #economy

author_matthewflagler 🇨🇦

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Monday 26 October 2026 14:19:12 GMT