Self-Employment Report 2026

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More Than Half (53%) of Self-Employed Canadians Used Credit to Cover Everyday Expenses, New Report Finds

New Money Mentors report reveals the financial strain of unpredictable earnings, with 23% facing frequent income shortfalls and one in five unable to afford time off.

Calgary, AB (November 3, 2026) – As Financial Literacy Month begins, Money Mentors’ 2026 Self-Employment Report, conducted in partnership with Angus Reid, finds that more than half (53%) of Canadians surveyed who reported self-employment, gig work, side hustles or other paid work used a credit card or line of credit to cover groceries, bills or other everyday expenses in the past year because their self-employment income was lower or less predictable than needed.

For Canadians who work for themselves, income doesn’t always arrive on schedule, but bills and everyday expenses do. The survey found that more than half (51%) experienced an income shortfall at least once in the past year, with nearly one in four (23%) falling short of what they needed to cover regular living expenses most months or every month.

From groceries to bills, Canadians are making difficult financial trade-offs

For many Canadians earning self-employment income, covering everyday expenses has meant making difficult financial trade-offs. In the past 12 months:

• More than half (54%) reduced or stopped putting money into savings.
• Nearly five in 10 Canadians (47%) cut back on groceries or other household essentials, while 45% used savings or emergency funds to cover regular living expenses.
• About one in four (23%) delayed or missed a bill payment, while 22% borrowed money from family or friends.
• 18% did not set aside enough money to cover the income tax or GST/HST they owed.

Women are also facing greater financial pressure. Three in five (60%) experienced an income shortfall at least once in the past year, significantly higher than 43% of men.

“When more than half of self-employed Canadians used credit to cover everyday expenses, it’s clear this goes beyond budgeting. Financial literacy is important, but it can only go so far when income is unpredictable, and bills keep coming. People need support before cash flow challenges turn into bigger financial problems,” says Stacy Yanchuk Oleksy, CEO of Money Mentors. “Through Money Mentors’ F.R.E.S.H. program, Alberta entrepreneurs and small business owners can access free, one-on-one financial guidance to better understand their options and manage financial challenges. There’s no easy fix for unpredictable income, but knowing where to turn for help is an important first step.”

Unpredictable income is putting financial security and well-being at risk

Many Canadians earning self-employment or other paid work income have limited savings to fall back on, while financial uncertainty is also affecting their long-term goals and well-being. The survey found:

• Nearly half (46%) could cover no more than two months of regular expenses using their savings if all their income stopped today, including 13% who have no savings at all.
• More than two in five (41%) have delayed, stopped or reduced contributions toward investing, while 37% have done the same for retirement savings and 36% for building an emergency fund.
• Nearly half (48%) reported feeling anxious or overwhelmed about their self-employment income or finances, while 28% reported losing sleep.
• One in five (20%) avoided taking time off, including sick days or vacation, because they couldn’t afford to lose the income.

Supporting financial well-being for self-employed Canadians

With November marking Financial Literacy Month, Money Mentors encourages Canadians earning self-employment income to plan for fluctuating earnings, set aside money for taxes and build emergency savings.

To help Alberta entrepreneurs and small business owners navigate these challenges, Money Mentors offers F.R.E.S.H. (Financial Reset Program for Entrepreneurs & Small Business Owners), a free program providing one-on-one financial check-ins, guidance on financial options and referrals to additional resources.

The organization also provides free, confidential credit counselling and serves as Alberta’s exclusive provider of the Orderly Payment of Debts (OPD) program.

For more information, visit www.moneymentors.ca.

For media inquiries, please contact:
Category Communications
Nadira Setianto
nadira@categorycomms.com

About Money Mentors

Money Mentors is the only Alberta-based non-profit credit counselling agency. For more than 25 years, our experienced team of accredited counsellors has been working with Albertans to help them get out of debt, manage their money and plan for the future.

Our mission is to educate Albertans in personal money management and the wise use of credit, and to provide alternatives for families and individuals facing financial crises. For more information, visit www.moneymentors.ca to contact an accredited counsellor.

Methodology

From October 7 to 9, 2026, Money Mentors, in partnership with Angus Reid, surveyed 1,501 Canadian adults as part of its 2026 Self-Employment Survey. Findings related to self-employment are based on a subset of respondents who reported earning income through self-employment, gig work, side hustles or other paid work.