{"id":66745,"date":"2025-11-19T13:00:24","date_gmt":"2025-11-19T13:00:24","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2025\/11\/19\/posthaste-would-a-sudden-emergency-put-you-into-debt\/"},"modified":"2025-11-19T13:00:24","modified_gmt":"2025-11-19T13:00:24","slug":"posthaste-would-a-sudden-emergency-put-you-into-debt","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2025\/11\/19\/posthaste-would-a-sudden-emergency-put-you-into-debt\/","title":{"rendered":"Posthaste: Would a sudden emergency put you into debt?"},"content":{"rendered":"<p> \n<br \/><br \/>\n<iframe loading=\"lazy\" height=\"100%\" src=\"https:\/\/cdn.jwplayer.com\/videos\/LqJGiOLg.mp4\" width=\"100%\"><\/iframe><br \/>\n<img decoding=\"async\" alt=\"\" data-has-syndication-rights=\"1\" data-license-id=\"\" data-portal-copyright=\"\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg\" title=\"\" \/><\/p>\n<p> It\u2019s no secret that many Canadians are living on the financial razor\u2019s edge, but nearly half of them are just one emergency expense away from falling into debt. <\/p>\n<p> A single unexpected expense would throw off 45 per cent of Canadians\u2019 finances, but that rises to 57 per cent of millennials who risk financial harm with a surprise expense, according to a recent report by online loan provider Fig Financial Inc. <\/p>\n<p> To make matters worse, 47 per cent of Canadians say a $10,000 emergency outlay would throw them into debt, while 32 per cent would take on debt with a $5,000 emergency spend. <\/p>\n<p> A single missed paycheque is all it would take for 51 per cent of Canadians to fall behind on their bills, according to software company <\/p>\n<p>                        Employment Hero<\/p>\n<p>                        . <\/p>\n<p> Meanwhile, 43 per cent of Ontario residents are just $200 or less away from financial insolvency, according to a report by accounting firm MNP Ltd. in July. <\/p>\n<p> \u201cMany households are feeling caught between persistent economic pressures and global volatility, with little flexibility to manage any disruptions in income or unexpected expenses,\u201d Caryl Newbery-Mitchell, a licensed insolvency trustee at MNP, said <\/p>\n<p>                        in a news release<\/p>\n<p>                         at the time. \u201cSome are hesitating to move forward with major financial or life decisions as a result.\u201d <\/p>\n<p> This level of financial stress keeps many Canadians awake at night, with 39 per cent saying it impacts their sleep and 34 per cent saying they have felt helpless about their finances in the past year. <\/p>\n<p> The issue is even bigger among younger Canadians, with 59 per cent of those aged 18 to 34 and 49 per cent of those aged 35 to 54 struggling to manage the constant flow of financial decisions. <\/p>\n<p> The anxiety has 51 per cent of Canadians feeling guilty about spending on themselves, even when it comes to small discretionary purchases. <\/p>\n<p> Fig Financial recommends those struggling with their finances normalize conversations around money, plan and budget for unexpected emergencies and check on their finances regularly to make sure they\u2019re on the right track. <\/p>\n<p> \u201cAt Fig, we\u2019re urging Canadians to break the silence around debt,\u201d Francois Cot\u00e9, chief executive of Fig Financial, said in a news release. \u201cOpen, honest conversations are the foundation for financial confidence.\u201d <\/p>\n<hr \/>\n<h2>The Last Toy Stores<\/h2>\n<p> <em><strong>Have you noticed that your neighourhood Toys \u201cR\u201d Us location has closed, or maybe that it\u2019s up for sale? Well, the team at the Financial Post Western Bureau did, too. They\u2019ve put together a five-part series called The Last Toy Stores exploring the changing landscape of toy retail in Canada as the country\u2019s largest chain shrinks its footprint. You can read the first part, detailing the changes at Toys \u201cR\u201d Us, here, and visit the series home page at Financialpost.com every day this week for a new instalment.<\/strong><\/em> <\/p>\n<hr \/>\n<p> <em><strong>\u00a0Sign up here to get Posthaste delivered straight to your inbox.<\/strong><\/em> <\/p>\n<hr \/>\n<p> <strong><br \/> <img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"aligncenter size-full wp-image-1758646\" height=\"114\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png\" width=\"838\" \/><\/strong> <\/p>\n<p> Some challenging days on Wall Street have investors questioning whether U.S. stocks can rally over the holiday season \u2014 a time when typically stocks are at their strongest. <\/p>\n<p> The Magnificent Seven tech stocks have supported a 34 per cent climb in the S&amp;P 500, but their run has slowed and left growth to companies that are more exposed to the trouble facing the global economy. <\/p>\n<p> Overall, big tech is off five per cent for the month, with only Alphabet Inc. seeing growth in November. <\/p>\n<p> Nvidia Corp., Walmart Inc. and Target Corp. are each expected to report quarterly earnings this week and should offer a glimpse into the economy. <\/p>\n<p> Read more here. <\/p>\n<hr \/>\n<p><img decoding=\"async\" alt=\"\" data-has-syndication-rights=\"1\" data-license-id=\"\" data-portal-copyright=\"\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/07\/subhead-1.jpg\" title=\"\" \/><\/p>\n<ul>\n<li><strong>12:30 p.m.:<\/strong> Bank of Canada deputy governor Nicolas Vincent to speak in Quebec City<\/li>\n<li><strong>2:00 p.m.:<\/strong> U.S. Federal Open Market Committee releases minutes from Oct. 29 interest rate announcement<\/li>\n<li><strong>Today\u2019s Data:<\/strong> Construction investment for September, U.S. housing starts and building permits for October<\/li>\n<li><strong>Earnings: <\/strong>Nvidia Corp., Lowe\u2019s Co. Inc., Target Corp., Metro Inc.<\/li>\n<\/ul>\n<hr \/>\n<p> <strong><img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"aligncenter size-full wp-image-3080180\" height=\"114\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg\" width=\"838\" \/><\/strong> <\/p>\n<p><img decoding=\"async\" alt=\"\" data-has-syndication-rights=\"1\" data-license-id=\"\" data-portal-copyright=\"\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/11\/chart-1119-ph.jpg\" title=\"\" \/><\/p>\n<p> \u00a0 <\/p>\n<figure class=\"embedded-image\"><\/figure>\n<hr \/>\n<p> <strong><img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"aligncenter size-full wp-image-3080181\" height=\"114\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg\" width=\"838\" \/><\/strong> <\/p>\n<ul>\n<li>\u2018Shine light on dirt\u2019 \u2014 Zekelman\u2019s Buy Canadian steel snitch line pays out $10K so far<\/li>\n<li>Scotiabank moves chief risk officer into new role as it shuffles executive deck<\/li>\n<li>Ottawa urged to pause its EV sales mandate until auto sector emerges from turmoil<\/li>\n<li>Can you make a living selling vintage clothing on Poshmark? This millennial Canadian has found a way<\/li>\n<li>Canada\u2019s oilsands make their comeback as U.S. shale plateaus<\/li>\n<\/ul>\n<p> <img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"aligncenter size-full wp-image-2059284\" height=\"114\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png\" width=\"838\" \/> <\/p>\n<p> In the wake of the sudden demise of the short-term rental company Sonder Holdings Inc., where guests were abruptly stranded without accommodations, Financial Post columnist Garry Marr looks at the pitfalls of short-term rentals. The fiasco, he writes, was a stark reminder that the flexible world of alternative accommodations comes with significantly less stability than the hotel industry it aims to disrupt. <\/p>\n<p> Read more here. <\/p>\n<hr \/>\n<div class=\"x_elementToProof\"><span>Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at\u00a0<\/span>wealth@postmedia.com<span><\/span><span>\u00a0with your contact info and the gist of your problem and we\u2019ll find some experts to help you out while writing a Family Finance story about it (we\u2019ll keep your name out of it, of course).<\/span><\/div>\n<hr \/>\n<h2>McLister on mortgages<\/h2>\n<p> Want to learn more about mortgages? Mortgage strategist Robert McLister\u2019s <\/p>\n<p>                        Financial Post column <\/p>\n<p>                        can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Plus check his <\/p>\n<p>                        mortgage rate page<\/p>\n<p>                         for Canada\u2019s lowest national mortgage rates, updated daily. <\/p>\n<hr \/>\n<h2>Financial Post on YouTube<\/h2>\n<p> Visit the Financial Post\u2019s <\/p>\n<p>                        YouTube channel<\/p>\n<p>                         for interviews with Canada\u2019s leading experts in business, economics, housing, the energy sector and more. <\/p>\n<hr \/>\n<p> <em>Today\u2019s Posthaste was written by Ben Cousins\u00a0with additional reporting from Financial Post staff, Canadian Press and Bloomberg.<\/em> <\/p>\n<p> Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0<\/p>\n<p>                        posthaste@postmedia.com<\/p>\n<p>                        . <\/p>\n<hr \/>\n<ul class=\"related_links\">\n<li>What to do with TFSAs, RRSPs and assets when divorce hits<\/li>\n<li>Spooked by financial fears like outliving your money?<\/li>\n<\/ul>\n<p> <em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here<\/em> <\/p>\n\n<br \/>Posthaste: Would a sudden emergency put you into debt?<\/a><br \/>\n<br \/>2025-11-19 13:00:24<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s no secret that many Canadians are living on the financial razor\u2019s edge, but nearly half of them are just one emergency expense away from falling into debt. A single&#8230;<\/p>\n","protected":false},"author":2,"featured_media":66746,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-66745","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/66745","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=66745"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/66745\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/66746"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=66745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=66745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=66745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}