Equifax survey finds one in four Canadians expect to make only minimum credit-card payments

The sobering reality when you only make minimum credit card payments

Q: My grocery bill has crept up so much over the past year that I've started doing something I never thought I would do. I’m only paying the minimum amount on my credit cards. I have two kids to feed, I'm not behind on anything, and my job is stable. It happened so gradually that it just feels normal now, and that's what's bothering me. Is this actually a problem, or is this simply what managing money looks like right now? ~Petra

Equifax survey finds one in four Canadians expect to make only minimum credit-card payments

The findings point to growing financial pressure among some households, with 40 per cent of respondents saying they are spending more overall than they were a year ago, compared with 18 per cent who are spending less. The post Equifax survey finds one in four Canadians expect to make only minimum credit-card payments appeared first on Retail Insider.