Albertans expect financial strain in 2026

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Albertans are starting the year with their wallets on their minds. Three-quarters expect the cost of living to worsen this year, and concerns about the economy, interest rates, and housing affordability are weighing heavily on households across the province. But there are some glimmers of hope in the data. Here's what's happening this week.

👀 In today's edition:

• Alberta energy workers eye cautious opportunities in Venezuela

• Rocky View County cited for fire hydrant enforcement failures

• Calgary police rule fatal home altercation self-defence

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Albertans expect financial strain in 2026

Despite Tuesday's news about Calgary's unemployment rate dropping to 6.8 per cent, Albertans are heading into 2026 with deep concerns about their financial future. Three-quarters expect the cost of living to worsen this year, among the highest levels of any province, according to the latest MNP Consumer Debt Index.

The pessimism extends beyond prices. Two-thirds of Albertans believe the economy will deteriorate, and three in five expect rising pressure from interest rates and inflation. Transportation costs, healthcare expenses, and housing affordability all top the list of concerns as residents anticipate everyday financial pressures will intensify.

But there are glimmers of hope in the data. The proportion of Albertans living within $200 of not being able to pay their bills each month has fallen to 38 per cent, down 12 points from last quarter and the lowest level measured since the pandemic. The average amount left after monthly expenses has also risen by $306 to reach $1,119, the largest quarterly increase among all provinces.

Lindsay Burchill, a licensed insolvency trustee with MNP, says Albertans are responding to financial stress in starkly different ways. More than half are taking proactive steps like adjusting budgets or consolidating debt, while nearly one-third are avoiding financial discussions or relying more heavily on credit to cover essential expenses. One in 10 feel completely frozen, unsure where to begin.

"When Albertans engage in financial flight behaviours, the concern is that it can create a misleading sense of short-term relief," said Burchill. "Turning a blind eye to bills or financial conversations may reduce stress temporarily, but those behaviours often allow financial problems to intensify quietly."

Interest rates remain a critical pressure point. Nearly two-thirds of Albertans say they urgently need rates to come down, and two in five fear that future increases could push them toward bankruptcy.

Yet despite widespread financial anxiety, fewer than one in 10 Albertans have sought advice from a financial professional. Burchill emphasized that licensed insolvency trustees are the only federally regulated professionals authorized to administer government debt solutions and assess all available options.

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Need to know

🚧 Calgary officials expect 16th Avenue NW to fully reopen Wednesday morning as crews continue work on the Bearspaw feeder main, though daily water use remains about 20 million litres above sustainable levels.

💰 Some city councillors voiced concern about potential water rate hikes as council reviewed the Bearspaw feeder main report, with warnings the next budget cycle could bring sharp increases.

⚖️ Calgary police ruled a fatal northwest home altercation a non-culpable homicide after a woman killed a man in self-defence when he attacked her during what investigators say was a fake property showing.

🛢️ Some Alberta energy workers and companies are cautiously eyeing opportunities in Venezuela following the U.S. intervention, though government instability, security concerns, and competition with Canadian heavy oil exports temper the excitement.

🚒 Rocky View County was cited for failing to enforce fire hydrant testing after a resident's campaign revealed nine out-of-service hydrants, prompting an order to inspect all 1,100 county hydrants by year's end.

🔥 Nine people evacuated a northeast Calgary home early Wednesday morning when fire broke out, with no injuries reported and investigators working to determine the cause.

🏥 Ward 14 councillor Landon Johnston introduced a motion asking council to support closure of the Sheldon Chumir supervised consumption site, though the province is already moving forward with shutdown plans.

🧑‍🍳 Tasty, Low Salt Cooking (Meal Ideas) Jan 28 - Learn how to cook delicious meals that focus on less salt in this free ONLINE cooking demo with AHS registered dietitians. Recipes included.*

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Calgary Opera reimagines Hansel and Gretel with puppet magic

Calgary Opera brings Engelbert Humperdinck's beloved fairy tale Hansel and Gretel to life with help from The Old Trout Puppet Workshop, transforming the stage into an enchanted storybook world where handcrafted puppets and set pieces bring whimsy and theatrical imagination to the classic opera.

Stage director Brenna Corner says the production is visually exciting, with the Trouts designing a world where storytelling comes alive through magical creatures and lush, engaging music. The extraordinary puppet designs complement soaring voices from the Cantaré Children's Choir and the Calgary Philharmonic Orchestra, conducted by Calgary Opera artistic director Jonathan Brandani.

Brandani calls Humperdinck's score one of the most evocative ever written, with cinematic power that transports audiences into a dream-like realm. The production runs January 31-February 6 at the Southern Alberta Jubilee Auditorium and is recommended for ages six and up, offering a perfect winter escape for families and opera lovers alike.

Where to eat and drink

🍴 Pat & Betty: This Victoria Park spot embodies the passion and affection of the owners' mothers with unapologetically indulgent food, vivid wines, and big-hearted service in a space designed for savouring moments spent around the table.

🍴 Lai Rai: The family behind Pho Dau Bo and Mot To brings their unfiltered love letter to Vietnamese food and drinking culture with street snacks, breakfast phở, and a space that captures the feeling of lingering over Vietnamese iced coffee on a busy Saigon morning.

Have a food or drink suggestion? Message us and we might share it!

Things to do

🎟️ Let It Be Beatles: Jubilations Dinner Theatre brings the excitement, humour, and music of John, Paul, George and Ringo to life in this interactive show celebrating the fab four lads from Liverpool who defined what it means to be music superstars, with a multi-course dinner included.

🎟️ SnowDays Festival: Banff and Lake Louise transform into a winter wonderland with larger-than-life snow sculptures, stunning ice creations at Lake Louise's Ice Magic competition, skijoring races, play zones, and evening celebrations throughout the festival. January 16-February 8.

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