For Canadians who work for themselves, income does not always arrive on schedule — but bills do. A new report released on 3 November 2026, at the start of Financial Literacy Month in Canada, finds that 53% of surveyed self-employed Canadians used a credit card or line of credit in the past year to cover groceries, bills or other everyday expenses because their income was lower or less predictable than needed.
Shortfalls are common, not occasional
The Money Mentors 2026 Self-Employment Report, conducted with Angus Reid, found 51% of respondents experienced an income shortfall at least once in the past year, with 23% falling short most months or every month. The trade-offs that followed were stark: 54% reduced or stopped saving, 47% cut back on groceries or household essentials, 45% dipped into savings or emergency funds, 23% delayed or missed a bill payment, and 22% borrowed from family or friends. One in five avoided taking time off, including sick days or holidays, because they could not afford the lost income.
Women face greater pressure
Three in five women surveyed (60%) experienced an income shortfall at least once in the past year, compared with 43% of men, according to the report. Money Mentors chief executive Stacy Yanchuk-Oleksy said the findings underline why fluctuating earners need a plan for the lean months, not just the good ones.
A practical buffer for irregular income
The report’s advice is deliberately unglamorous: hold a separate tax pot so a tax bill never becomes a crisis, build an emergency fund in small regular amounts even in good months, and smooth income by averaging the last six months rather than budgeting from the best month. Credit can bridge a genuine gap, the report implies, but when it becomes the monthly plan, the interest cost turns a shortfall into a longer problem.
