35,000+ smart investors are already getting financial news, market signals, and macro shifts in the economy that could impact their money next with our FREE weekly newsletter. Get ahead of what the crowd finds out too late. Click Here to Subscribe for FREE.
For a growing share of young Canadians, keeping the lights on and the home warm is no longer something that can always be covered by the monthly budget. New HomeStars research found that 20% of adults aged 18 to 34 have used credit, taken out a loan or borrowed from family or friends to pay an energy bill.
The financial strain extends well beyond that age group. Across all respondents, 14% reported borrowing to cover an energy bill, while nearly one-third worry about being able to afford heating this winter. The findings arrive as Canadians head toward another heating season with household budgets already stretched by elevated prices, housing costs and debt payments.
Borrowing for an Energy Bill Is No Longer Rare
One in Five Young Canadians Has Borrowed Money to Pay an Energy Bill, New Survey Finds
Among Canadians aged 18 to 34, 20% reported using credit, a loan or borrowed money to cover an energy bill. That compares with 14% across respondents overall. Parents were also particularly exposed, with 20% saying they had relied on borrowing or credit for energy costs, while the figure reached 18% among renters.
Those numbers matter because borrowing for an essential expense is different from financing a discretionary purchase. An electricity or heating bill returns every month, meaning households that cannot cover one bill from income may face the same pressure again. Earlier Statistics Canada research identified a similar vulnerability: younger Canadians were among the groups more likely to borrow, take on additional debt or use credit to meet everyday expenses when prices rose. A relatively ordinary household bill can therefore become part of a broader cycle in which future income is committed before it arrives.
Younger Canadians Are Much More Worried About Winter
The age divide becomes even clearer when Canadians are asked about heating. Among people aged 18 to 34, 42% worry about being able to afford to heat their homes this winter. Only 20% of respondents aged 55 and older said the same. Young adults were also twice as likely to report becoming uncomfortably cold at home during winter: 46% compared with 23% among those 55 and older.
That difference fits a wider affordability pattern. Bank of Canada research published in September found that households under 35 faced an estimated $4,249 gap in 2025 between additional income and additional spending relative to pre-pandemic trends. That represented roughly 4% of household income. Older age groups generally performed better by the same measure. For a younger household already balancing rent or mortgage payments, groceries, transportation and debt, a winter utility increase can therefore land on a budget with relatively little room left to absorb it.
Canadians Are Changing Everyday Habits to Cut Energy Use
Households are not simply absorbing higher costs without reacting. Nearly three-quarters of respondents, 73%, said they are watching how much electricity they use, while 59% are monitoring natural gas consumption for heating or cooking. About 21% are taking shorter showers, and 34% plan to heat only the room they are occupying instead of their entire home during winter.
For younger Canadians, that last strategy is even more common: 43% of those aged 18 to 34 said they plan to heat only the room they are using. The focus on heating is understandable in Canada. Natural Resources Canada estimates that space heating accounts for 63.6% of the energy used in an average Canadian home, while water heating represents another 17.2%. Turning down unused rooms or spending less time under a hot shower may look like small behavioural changes, but households are targeting two of the largest sources of residential energy consumption.
Some Households Are Putting Off Home Maintenance
Cost-cutting is also reaching parts of the household budget that can be harder to postpone safely. HomeStars found that 24% of respondents had reduced spending on essential home maintenance because of energy costs. Another 22% said they had delayed an important maintenance job for at least 12 months, while 9% planned to delay servicing their furnace or boiler.
The age gap appears here as well. Seventeen per cent of respondents aged 18 to 34 had delayed a furnace or boiler service, compared with just 3% of people aged 55 and older. Regular maintenance can affect both reliability and efficiency. Natural Resources Canada recommends following manufacturers’ servicing requirements, including annual cleaning and tuning for oil-fired systems and servicing natural-gas and propane equipment at least every two years. It also recommends cleaning or replacing forced-air filters regularly. Saving money by delaying maintenance can therefore trade an immediate expense for the risk of poorer performance or a more expensive repair later.
Financial Pressure Is Colliding With a Desire for More Efficient Homes
The strain goes beyond a single bill. HomeStars found that 62% of respondents worry about money and finances more than ever, while 61% are concerned specifically about the cost of running their homes. Thirty-seven per cent dread opening an energy bill, and 32% worry about affording heat this winter. Statistics Canada, meanwhile, reported that its broader energy price index was 19% higher in September 2026 than a year earlier, driven heavily by gasoline and fuel oil.
Many homeowners see efficiency upgrades as part of the solution, but paying for them presents another challenge. Fifty-three per cent said they want sustainable or environmentally friendly improvements, yet the same proportion said they are confused about available grants and subsidies. Another 43% felt governments were not providing enough financial support for energy-efficient upgrades. That leaves some households in an uncomfortable position: worried about recurring energy costs, but uncertain whether they can afford the investments that could reduce them.
This Options Discord Chat is The Real Deal
While the internet is scoured with trading chat rooms, many of which even charge upwards of thousands of dollars to join, this smaller options trading discord chatroom is the real deal and actually providing valuable trade setups, education, and community without the noise and spam of the larger more expensive rooms. With a incredibly low-cost monthly fee, Options Trading Club (click here to see their reviews) requires an application to join ensuring that every member is dedicated and serious about taking their trading to the next level. If you are looking for a change in your trading strategies, then click here to apply for a membership.