Two young children upset as parents fight at home.
It’s 2026, and most Canadian households aren’t asking how to get ahead — they’re asking how to avoid falling further behind. Fuelled by a quiet frustration and the common refrain behind this anxiety: If I’m doing everything right, why does it still feel like I’m losing ground?
For Stacy Yanchuk Oleksy, CEO of Money Mentors, that sentiment shows up daily in conversations she and her colleagues have with Canadians. These aren’t people who spend wildly; these are Canadians who have already cut spending, already tightened their budget and already done all the tasks required for responsible money management.
As Yanchuk Oleksy pointed out during an interview with Money.ca, the anxiety illustrates a subtle shift in how Canadians are handling the ongoing pressure of higher living costs, where families once talked about budgeting, now the discussion is brinkmanship — deciding what can’t be paid this month, not what should be paid.
These are the households already living lean — and still slipping.
For years, personal finance advice centred on discipline: Track your spending, pay down debt, avoid lifestyle creep.
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But many families have reached a point where discipline alone no longer moves the needle.
“For households already stretched, stability just means the pressure isn’t getting worse — not that it’s getting better,” explains Yanchuk Oleksy.
With interest rates staying elevated longer than expected and everyday costs still stubbornly high, the margin for error has disappeared. Even small disruptions — a car repair, dental bill or temporary loss of overtime — can tip a household from “managing” to “making trade-offs.”
That’s when budgeting turns into triage.
Read more: Canadians spent $183B on dining and clothes in 2024. Prioritize these 4 critical investments instead and watch your net worth skyrocket
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In practice, financial triage means deciding which obligations get paid first — and which get deferred.
“Families cut out anything non-essential — less food in the grocery cart, no dining out, pulling kids from activities, postponing travel — while still relying on credit to cover basics like utilities, school costs, or transportation,” says Yanchuk Oleksy. “Further down the line,” she said, “it looks like parents deciding which credit card or line of credit gets paid — and which one doesn’t.”
These choices are not made lightly. They’re tactical responses to a cash-flow problem, not signs of financial recklessness.
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But over time, this juggling act becomes exhausting — mentally and emotionally — especially when progress never seems to materialize.
Financial triage doesn’t just strain bank accounts. It strains relationships.
Parents describe guilt over what their kids are missing, anxiety about unopened bills and rising conflict between partners about money decisions that feel impossible to “win.” Even when households agree on priorities, the constant pressure takes a toll.
“Inaction tends to be our default choice when it comes to money,” explains Yanchuk Oleksy. “We’re afraid to make the wrong decision, and the discomfort and shame only grow over time.”
This is often the stage where people stop talking about money with friends or family altogether — not out of secrecy, but shame.
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What makes 2026 especially difficult is the disconnect between expectations and reality.
Many Canadians expected rate stability — or early cuts — to ease pressure. Instead, they’re facing a prolonged period where costs remain high, wages haven’t fully caught up and debt relief feels out of reach.
Stability, as Yanchuk Oleksy often points out, doesn’t equal affordability.
And when families do everything they’re “supposed” to do but still fall behind, the psychological impact can be as heavy as the financial one.
As Yanchuk Oleksy explains, there are a few red flags that can be used as alerts — as a signal for when the household has moved beyond short-term stress and into dangerous territory:
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Credit cards are consistently maxed out, with no ability to pay more than the minimum
Using payday loans or high-cost instalment loans to cover everyday expenses
Missing or delaying payments on utilities, rent or credit products
Increasing tension or conflict at home is tied directly to money decisions
None of these indicates failure. They indicate a system under strain.
“These are early indicators that stress is turning into a crisis,” Yanchuk Oleksy said. “And the earlier people reach out for help, the more options they have.”
Financial triage isn’t a long-term solution — but it is a signal.
It’s a sign that households may need more than budgeting tweaks. That could mean professional credit counselling, restructuring debt or getting outside help to assess options before the situation worsens.
Most importantly, it means recognizing that falling behind in this environment isn’t a personal failure. It’s a reflection of sustained economic pressure hitting household balance sheets in very real, very human ways.
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For many, the goal isn’t about getting ahead but holding on — and knowing when to ask for help before holding on becomes impossible.
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
My spreadsheet reviewed a WalletHub ranking of financial distress for the residents of 100 U.S. cities, including 17 in California. The analysis compared local credit scores, late bill payments, bankruptcy filings and online searches for debt or loans to quantify where individuals had the largest money challenges.
When California cities were divided into three geographic regions – Southern California, the Bay Area, and anything inland – the most challenges were often found far from the coast.
The average national ranking of the six inland cities was 39th worst for distress, the most troubled grade among the state’s slices.
Bakersfield received the inland region’s worst score, ranking No. 24 highest nationally for financial distress. That was followed by Sacramento (30th), San Bernardino (39th), Stockton (43rd), Fresno (45th), and Riverside (52nd).
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Southern California’s seven cities overall fared better, with an average national ranking of 56th largest financial problems.
However, Los Angeles had the state’s ugliest grade, ranking fifth-worst nationally for monetary distress. Then came San Diego at 22nd-worst, then Long Beach (48th), Irvine (70th), Anaheim (71st), Santa Ana (85th), and Chula Vista (89th).
Monetary challenges were limited in the Bay Area. Its four cities average rank was 69th worst nationally.
San Jose had the region’s most distressed finances, with a No. 50 worst ranking. That was followed by Oakland (69th), San Francisco (72nd), and Fremont (83rd).
The results remind us that inland California’s affordability – it’s home to the state’s cheapest housing, for example – doesn’t fully compensate for wages that typically decline the farther one works from the Pacific Ocean.
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A peek inside the scorecard’s grades shows where trouble exists within California.
Credit scores were the lowest inland, with little difference elsewhere. Late payments were also more common inland. Tardy bills were most difficult to find in Northern California.
Bankruptcy problems also were bubbling inland, but grew the slowest in Southern California. And worrisome online searches were more frequent inland, while varying only slightly closer to the Pacific.
Note: Across the state’s 17 cities in the study, the No. 53 average rank is a middle-of-the-pack grade on the 100-city national scale for monetary woes.
Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com
The up-and-coming fintech scored a pair of fourth-quarter beats.
Diversified fintech Chime Financial(CHYM +12.88%) was playing a satisfying tune to investors on Thursday. The company’s stock flew almost 14% higher that trading session, thanks mostly to a fourth quarter that featured notably higher-than-expected revenue guidance.
Sweet music
Chime published its fourth-quarter and full-year 2025 results just after market close on Wednesday. For the former period, the company’s revenue was $596 million, bettering the same quarter of 2024 by 25%. The company’s strongest revenue stream, payments, rose 17% to $396 million. Its take from platform-related activity rose more precipitously, advancing 47% to $200 million.
Image source: Getty Images.
Meanwhile, Chime’s net loss under generally accepted accounting principles (GAAP) more than doubled. It was $45 million, or $0.12 per share, compared with a fourth-quarter 2024 deficit of $19.6 million.
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On average, analysts tracking the stock were modeling revenue below $578 million and a deeper bottom-line loss of $0.20 per share.
In its earnings release, Chime pointed to the take-up of its Chime Card as a particular catalyst for growth. Regarding the product, the company said, “Among new member cohorts, over half are adopting Chime Card, and those members are putting over 70% of their Chime spend on the product, which earns materially higher take rates compared to debit.”
Today’s Change
(12.88%) $2.72
Current Price
$23.83
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Key Data Points
Market Cap
$7.9B
Day’s Range
$22.30 – $24.63
52wk Range
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$16.17 – $44.94
Volume
562K
Avg Vol
3.3M
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Gross Margin
86.34%
Double-digit growth expected
Chime management proffered revenue and non-GAAP (adjusted) earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance for full-year 2026. The company expects to post a top line of $627 million to $637 million, which would represent at least 21% growth over the 2024 result. Adjusted EBITDA should be $380 million to $400 million. No net income forecasts were provided in the earnings release.
It isn’t easy to find a niche in the financial industry, which is crowded with companies offering every imaginable type of service to clients. Yet Chime seems to be achieving that, as the Chime Card is clearly a hit among the company’s target demographic of clientele underserved by mainstream banks. This growth stock is definitely worth considering as a buy.
ROCHESTER, N.Y. — Student athletes are now earning real money thanks to name, image, likeness deals — but with that opportunity comes the need for financial preparation.
Noah Collins Howard and Dayshawn Preston are two high school juniors with Division I offers on the table. Both are chasing their dreams on the field, and both are navigating something brand new off of it — their finances.
“When it comes to NIL, some people just want the money, and they just spend it immediately. Well, you’ve got to know how to take care of your money. And again, you need to know how to grow it because you don’t want to just spend it,” said Collins Howard.
What You Need To Know
High school athletes with Division I prospects are learning to manage NIL money before they even reach college
Glory2Glory Sports Agency and Advantage Federal Credit Union have partnered to give young athletes access to financial literacy tools and credit-building resources
Financial experts warn that starting money habits early is key to long-term stability for student athletes entering the NIL era
Preston said the experience has already been eye-opening.
“It’s very important. Especially my first time having my own card and bank account — so that’s super exciting,” Preston said.
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For many young athletes, the money comes before the knowledge. That’s where Glory2Glory Sports Agency in Rochester comes in — helping athletes prepare for life outside of sports.
“College sports is now pro sports. These kids are going from one extreme to the other financially, and it’s important for them to have the tools necessary to navigate that massive shift,” said Antoine Hyman, CEO of Glory2Glory Sports Agency.
Through their Students for Change program, athletes get access to student checking accounts, financial literacy courses and credit-building tools — all through a partnership with Advantage Federal Credit Union.
“It’s never too early to start. We have youth accounts, student checking accounts — they were all designed specifically for students and the youth,” said Diane Miller, VP of marketing and PR at Advantage Federal Credit Union.
The goal goes beyond what’s in their pocket today. It’s about building habits that will protect them for life.
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“If you don’t start young, you’re always catching up. The younger you start them, the better off they’re going to be on that financial path,” added Nihada Donohew, executive vice president of Advantage Federal Credit Union.
For these athletes, having the right support system makes all the difference.
“It’s really great to have a support system around you. Help you get local deals with the local shops,” Preston added.
Collins-Howard said the program has given him a broader perspective beyond just the game.
“It gives me a better understanding of how to take care of myself and prepare myself for the future of giving back to the community,” Collins-Howard said.
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“These high school kids need someone to legitimately advocate their skills, their character and help them pick the right space. Everything has changed now,” Hyman added.
NIL opened the door. Programs like this one make sure these athletes walk through it — with a plan.
