Explorez tous les épisodes du podcast Debt Free in 30
| Titre | Date | Durée | |
|---|---|---|---|
| 584 – Top Mistakes Debtors Make and How to Avoid Them | 08 Nov 2025 | 00:31:22 | |
Drawing on experience from 25+ years and 73,000+ filings, Doug and Ted break down the top debt mistakes Canadians make, and how to avoid them. They explain how problems creep up, why waiting narrows your options, high-cost credit and payday-loan cycles, CRA's real collection powers, and so much more. | |||
| 583 – Job Loss: What to Do Financially in Your First 30 Days | 01 Nov 2025 | 00:30:52 | |
Laid off or let go? Your first 30 days matter. This is a practical, Canada-specific guide to unemployment, covering everything from applying for EI to discussing when upskilling or a pivot makes sense, as well as the risks of jumping into self-employment and how to handle debt while unemployed. If you're currently employed, treat this episode as a readiness checklist to ensure you feel prepared and confident about whatever comes next. How To Check If You Qualify For Employment Insurance (EI Benefits) Payday Loans Aren't Worth It: How To Break The Cycle Should I Get a Loan To Pay Off My Credit Cards? Sign Up for the Monthly Debt Free Digest Hoyes Michalos YouTube Channel | |||
| 574 – Simple Shifts: Ways to Save More and Spend Less | 30 Aug 2025 | 00:30:44 | |
Looking to save more and spend smarter? This episode is packed with practical, expert-backed tips - from insider grocery hacks and avoiding hidden fees to smarter banking strategies. Learn how simple shifts, like opening a second bank account or using preloaded credit cards, can help you take control of your money and reach your financial goals faster. Free Canadian Credit Repair Resources 10 Tips for Dealing With Collection Agencies
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| 484 – Debt Duel: Snowball vs. Avalanche with Joel Sandwith | 09 Dec 2023 | 00:30:35 | |
In this episode, Doug sits down with Joel Sandwith, a Licensed Insolvency Trustee based at the Hoyes Michalos London office. Together, they explore effective debt management strategies and delve into optimal approaches for debt repayment. The episode provides a comprehensive comparison of the snowball and avalanche methods. If you're trying to figure out the best way to pay off your debts, this episode is a helpful guide. It's here to support you on your journey to financial freedom, giving you insights into different methods and assisting you in selecting the one that suits you best.
Related Links: Have a question or comment for a future show? Leave us a voice message here: https://www.hoyes.com/dfi30comments Joel Sandwith BA, Licensed Insolvency Trustee - https://www.hoyes.com/about-hoyes-michalos/bankruptcy-trustees/joel-sandwith/ Debt Snowball Method vs High Interest First - https://www.hoyes.com/blog/debt-snowball-method-vs-high-interest-first/ Debt Repayment Worksheet - https://www.hoyes.com/debt-repayment-worksheet/ Debt Repayment & Consumer Proposal Calculator - https://www.hoyes.com/debt-repayment-calculator/ | |||
| 483 – Why Are Credit Reports Always Wrong with Richard Moxley? | 02 Dec 2023 | 00:39:33 | |
In this week's episode of Debt Free in 30, credit expert Richard Moxley returns to tackle the burning question: Why are credit reports always wrong? From the importance of credit ratings to practical tips on finding and fixing errors, we cover it all. Discover how to navigate post-insolvency challenges, handle account changes, and conquer stubborn collection accounts. Don't miss this deep dive into credit report complexities with actionable solutions! Timestamps: 00:00 Introduction 01:21 Why is my credit rating important? 04:19 Do I care what's on my credit report if I don't plan to borrow? 07:54 Should you check your credit report for errors? 09:40 Is current employment updated on your credit report? 11:00 How do you I find errors on my credit report and what errors do I look for? 14:11 I filed a consumer proposal why is a creditor reporting I am behind on my payments? 17:25 What happens if you sue the credit bureaus. 20:36 Can you go to individual creditors to fix errors on late payments? 23:21 Are there any strategies you can use to fix errors on your credit report? 28:00 How much will it cost to have a credit expert fix the errors on my credit report? 29:08 Are free credit score apps worth it? 33:14 Disputes and account numbers 37:24 Concluding comments
Related Links: Have a question or comment for a future show? Leave us a voice message here: https://www.hoyes.com/dfi30comments Richard Moxley's Website: https://creditgame.net/ The Credit Game: Rules Every Canadian Must Know to Win: https://www.amazon.ca/Credit-Game-Rules-Every-Canadian-ebook/dp/B07XKG1VHP TransUnion Credit Report Explained: https://www.youtube.com/watch?v=BWFO_C336BM How to get and print your FREE Equifax report: https://www.youtube.com/watch?v=Z03_DvfFY38 How to get and print your Free credit report from TransUnion: https://www.youtube.com/watch?v=K6a_R8gZFnw How to Dispute Errors on Your Credit Report: https://www.youtube.com/watch?v=zuuGtBR40QY How to Rebuild Your Credit Score Fast!: https://www.youtube.com/watch?v=Y6OJoQPia28 How to Read a Credit Bureau: Equifax Canada: https://www.youtube.com/watch?v=PEVHQOAFw64 Debt Free in 30 Episode #284 - Rules to Master Your Credit with Richard Moxley https://www.youtube.com/watch?v=jP6etPo_CQc February 8, 2020 (from Toronto) Debt Free in 30 Episode #329 - Fix Bad Credit Yourself - Tips & Tricks From an Expert https://www.youtube.com/watch?v=BtncJCxN4So December 19, 2020 (by Zoom) 7 Facts About Your Credit Rating (What's in your Credit Score?) https://www.hoyes.com/blog/7-facts-credit-rating/ Free Credit Score Comes With a Catch: https://www.hoyes.com/blog/free-credit-score-comes-with-a-catch/ The Big Credit Score Scam: https://www.hoyes.com/blog/the-big-credit-score-scam/ What Are The Common Factors That Affect A Credit Score?: https://www.hoyes.com/blog/what-are-the-common-factors-that-affect-a-credit-score/
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| 482 – Setting Yourself Up for Success in 2024 with an Annual Financial Checkup! | 25 Nov 2023 | 00:30:58 | |
In this episode, Doug Hoyes is joined by Ted Michalos as they discuss the importance of doing an annual financial checkup. Doug explains the importance of having a plan and touches on various topics such as updating your will, insurance, investments, bank accounts, taxes, passwords, and debt. Now is the time to review your finances and make a plan for the new year so you can set yourself up for success! Time Stamps
00:00 Introduction 01:20 Self Assessment 02:03 Review and Update Your Will 02:57 Power of Attorney for Personal Care & Power of Attorney Over Property 04:18 Insurance 04:24 Life Insurance 05:16 Term Insurance 06:15 Mortgage Insurance vs. Life Insurance 08:15 Medical/Disability Insurance 09:23 Asset Insurance (Car Insurance, Homeowners Insurance) 10:31 Credit Insurance 11:32 Investments 11:39 Do Investments Still Make Sense? 13:53 Bank Accounts 14:41 Should You Have More Than One Bank Account? 18:30 Big Banks vs. Virtual Banks Interest Rates and Fees 23:41 Should You Reconcile Your Bank Account? 25:36 Passwords 26:30 Taxes 26:58 Debt – Make a Plan Related Links: Why You Should Bank at More Than One Bank https://www.hoyes.com/blog/why-you-should-bank-at-more-than-one-bank/ Why Do I Need To Switch Banks? I Love My Bank. https://www.hoyes.com/blog/why-do-i-need-to-switch-banks-i-love-my-bank/
How to Open a New Bank Account For A Bankruptcy or Consumer Proposal https://www.hoyes.com/blog/opening-a-new-bank-account-bankruptcy-consumer-proposal/ RRSP, Registered Savings Accounts and Bankruptcy Laws https://www.hoyes.com/blog/rrsp-bankruptcy-laws-canada/
Power of Attorney: Can I Deal With My Parents' Debts? https://www.hoyes.com/blog/power-of-attorney-parents-debts/ Income Taxes and Bankruptcy – What You Need to Know https://www.hoyes.com/blog/income-taxes-and-bankruptcy-what-you-need-to-know/ Crushing Debt. Why Canadians Should Drop Everything and Pay Off Debt https://www.hoyes.com/blog/crushing-debt-why-canadians-should-drop-everything-and-pay-off-debt/ What is a Debt Free in 30 Debt Assessment? | |||
| 481 – Will You Ever Be Able to Retire? Exploring Retirement Planning Strategies with Financial Expert Rona Birenbaum | 18 Nov 2023 | 00:34:24 | |
In this episode, Doug Hoyes discusses retirement planning with special guest Rona Birenbaum, a Certified Financial Planner at Caring for Clients. The episode covers various retirement-related topics, including the importance of financial planning, the role of financial advisors, and the complexities of decisions such as when to retire and when to start receiving government benefits like CPP.
The discussion emphasizes the need for careful consideration of lifestyle preferences, budgeting, and financial goals when planning for retirement. The conversation also touches on the role of debt in retirement planning, highlighting the benefits of entering retirement with minimal debt. The episode aims to provide valuable information and perspectives to help individuals navigate the complexities of retirement planning.
Related Links:
Have a question or comment for a future show? Leave us a voice message here: https://www.hoyes.com/dfi30comments
Caring for Clients: www.careingforclients.com
Caring for Clients Facebook: https://www.facebook.com/profile.php?id=100033419084831
Caring for Clients YouTube: https://www.youtube.com/channel/UCZZL3BipR9-ZCLgUsOXE3Ag
Caring for Clients Twitter: https://twitter.com/Caring4Clients
Caring for Clients Blog: https://www.caringforclients.com/blog/
Rona Birenbaum, Episode 215, What is a Robo-Planner: Automated Financial Planning https://youtu.be/rXW7a7EdCKA?si=fHVry4vas4tIJbCo
Planning for Retirement? Pay Off Debt & Start Practicing: https://www.hoyes.com/blog/planning-for-retirement-pay-off-debt-start-practicing/
How to Minimize Debt Before and After Retirement: https://www.hoyes.com/blog/how-to-minimize-debt-before-and-after-retirement/
Debt Relief for Seniors. What are Your Options?: https://www.hoyes.com/blog/debt-relief-for-seniors-what-are-your-options/
Seniors in Debt and Filing Bankruptcy: https://www.hoyes.com/press/joe-debtor/seniors-and-bankruptcy/ | |||
| 480 – Increase in Homebuyers Cancelling Contracts: Here's What You Need to Know! | 11 Nov 2023 | 00:31:42 | |
Doug Hoyes and Ted discuss a pressing issue that many Canadians face: the challenge of closing on a house when real estate prices have taken a hit. They discuss the complexities of the real estate market, particularly the implications for those who bought pre-construction homes or condos. They also explain the risks associated with pre-construction purchases, such as the potential loss of deposits and the financial difficulties of closing on a property with a lower appraised value. This episode provides practical advice and raises thought-provoking questions about the need for changes in deposit protection laws, shedding light on a crucial topic in today's housing market.
Related Links: StateView homes receivership https://www.tarion.com/media/important-information-purchasers-and-owners-stateview-homes Tarion New Home Deposit Protection https://www.tarion.com/media/deposit-protection-takes-stress-out-buying-new-homes Why a House Does Not Guarantee Financial Security https://www.hoyes.com/blog/why-a-house-does-not-guarantee-financial-security/ | |||
| 479 – Are We in a Silent Depression? Tackling the Debt Dilemma | 04 Nov 2023 | 00:30:51 | |
Doug Hoyes and Ted Michalos discuss the state of the economy and explore the possibility of a silent depression. Their discussion includes topics such as unemployment rates, the challenges confronted by the Millennial and Gen-Z generations, the recent increase in credit card debt, and the state of the real estate market. They also offer guidance on how to regain hope and devise a path towards achieving success amidst these challenging circumstances.
Related Links: Have a question or comment for a future show? Leave us a voice message here: https://www.hoyes.com/dfi30comments The State of Mortgages with Ron Butler: https://www.youtube.com/live/e9lVf-moV1E?si=5O96QM8NfJbRc5Fo Statistics Canada. Table 14-10-0287-01 Labour Force Characteristics, Monthly, Seasonally Adjusted and Trend-Cycle, Last 5 Months: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410028701 Statistics Canada. Table 18-10-0004-01 Consumer Price Index, Monthly, Not Seasonally Adjusted: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000401 Millennials Heavy Payday Loan Users and It's Costing Them Bigtime: https://www.hoyes.com/blog/millennials-heavy-payday-loan-users-and-its-costing-them-bigtime/ How To Minimize Debt as a Millennial: https://www.hoyes.com/blog/how-to-minimize-debt-as-a-millennial/
Student Debt Crisis – A Generation Buried in Student Debt: https://www.hoyes.com/press/joe-debtor/the-student-debtor/ I Can't Pay My Bills. What Are My Alternatives?: https://www.hoyes.com/blog/cant-pay-bills-alternatives/ 7 Reasons Why Credit Cards Can Be So Dangerous: https://www.hoyes.com/blog/why-credit-cards-can-be-so-dangerous/
How Long Can You Run From Your Debt? And Should You?: https://www.hoyes.com/page/3/?s=can+i+afford+a+home My Child Has A Lot of Debt. How Can I Help?: https://www.hoyes.com/blog/my-child-has-a-lot-of-debt-how-can-i-help/ Debt Relief for Seniors. What are Your Options?: https://www.hoyes.com/blog/debt-relief-for-seniors-what-are-your-options/ Seniors in Debt and Filing Bankruptcy: https://www.hoyes.com/press/joe-debtor/seniors-and-bankruptcy/ | |||
| 478 – The State of Mortgages and Real Estate with Ron Butler | 24 Oct 2023 | 00:47:34 | |
Doug Hoyes and special guest Ron Butler from The Angry Mortgage Podcast came together for a live episode on Monday, October 23rd. During this special event, they talked about current mortgage trends, real estate, Bank of Canada interest rates, inflation, and addressed questions from their audience. Whether you own a home or are planning to buy one in the near future, this conversation is definitely one you should listen to.
Related Links Ron's Links Ron Butler on Twitter: @ronmortgageguy - https://twitter.com/ronmortgageguy Ron Butler on Instagram: @ronmortgageguy https://www.instagram.com/ronmortgageguy/ Ron Butler LinkedIn: https://www.linkedin.com/in/ron-butler-345531b/ Butler Mortgage (mortgage rates) - https://www.butlermortgage.ca/mortgage-calculator/
Hoyes Blog Links High Interest Rates: What Can You Do/ - https://www.hoyes.com/blog/rising-interest-rates-and-debt-what-can-you-do/ Bank of Canada, share of mortgages with high Debt Service Ratio - https://www.bankofcanada.ca/rates/indicators/indicators-of-financial-vulnerabilities/ Average Toronto house prices: https://wowa.ca/toronto-housing-market What To Do If Your Mortgage Is In Arrears - https://www.hoyes.com/blog/what-to-do-if-your-mortgage-is-in-arrears/ Mortgages and Bankruptcy in Ontario: What You Need to Know - https://www.hoyes.com/blog/mortgages-and-bankruptcy-in-ontario-what-you-need-to-know/ Can't Pay Your Mortgage? Options to Keep Your House - https://www.hoyes.com/blog/cant-pay-your-mortgage-options-to-keep-your-house/ Walking Away from a Mortgage in Canada - https://www.hoyes.com/blog/walking-away-from-a-mortgage-in-canada/ Renewing Your Mortgage as Rates Change - https://www.hoyes.com/blog/get-ready-for-higher-interest-rates/ Does The Mortgage Lender You Choose Matter? - https://www.hoyes.com/blog/does-the-mortgage-lender-you-choose-matter/ Homeowners Bankruptcy Index - https://www.hoyes.com/press/homeowner-bankruptcy-index/
YouTube Links 293 Debt, HELOCs, and The New World of Mortgage Lending with Ron Butler - https://www.youtube.com/watch?v=VDSd6z5EJzA 334 Mortgages & Home Equity Refinancing: What Are The Risks in 2021? - https://www.youtube.com/watch?v=-CSt5J7CIQ0 376 Should You Help Your Child Get a Mortgage? with Ron Butler - https://www.youtube.com/watch?v=INc3t7ikv-w 403 What's Happening Now that Mortgage Rates are up? - https://www.youtube.com/watch?v=Iw-HtqgOgJM 421 - Mortgage Challenges After Record Rate Hikes + Advice with Ron Butler - https://youtu.be/kJ9vyHA5pJw 440 What's Happening to Mortgages in 2023 with Ron Butler - https://youtu.be/3umCpEf8m4Y | |||
| 477 – The Messy World of Debt Collection and Statute-Barred Claims | 21 Oct 2023 | 00:41:08 | |
Doug Hoyes is joined by special guest, Blair Demarco-Wettlaufer, a collection agent, who serves as the Chief Operations Officer at collection agency Kingston Data & Credit. This marks Blair's seventh appearance on the show! In this episode, Doug and Blair discuss the messy world of debt collection, statute-barred claims, and credit reporting. They answer questions such as, how long does it take for a credit card company to send your debt to collections? Does a statute-barred debt affect your credit report? What happens if you don't pay it? Can you be sued and when is it time to speak to a Licensed Insolvency Trustee? Tune in for lots of great advice and tips!
00:00 Introduction 01:44 How long does it take for collection agencies to report to a collection agency? 04:44 How does a collection agency receive new files to collect? 06:36 How do collection agencies contact and monitor those in debt? 09:59 When do collection agencies report to the credit bureau? 11:05 What is the difference between a trade line and a registered item? 15:11 What is the difference between soft inquiries and hard inquires and how do they affect your credit score? 16:34 How often should you pull your credit bureau? 18:56 Statute-Barred Claims: Do I Have to Pay? 23:13 Proof of Claim Forms 29:12 Creditors plan 32:49 Settlements 37:14 Concluding comments
Related Links:
Blair Demarco-Wettlaufer on Twitter (X) https://twitter.com/kdcblair Blair's blog: https://receivableaccounts.blogspot.com/ Blair Demarco-Wettlaufer's previous appearances on Debt Free in 30: Episode 20, January 17, 2025 – Stop the Collection Calls https://www.youtube.com/watch?v=0tsrKacdx4U Episode 57, October 3, 2015, Collection Agents – How Did They Find Me? https://www.youtube.com/watch?v=0SMU1R5N0ms Episode 70, January 2, 2016, Top 10 Tips for Dealing with a Collection Agent https://www.youtube.com/watch?v=736J-IefWrI Episode 264, September 21, 2019, How to Negotiate with a Collection Agent, https://youtu.be/ZgNWpKfBUwU?si=czAQLjQqWTOLctml 59,000 Views Episode 296, May 2, 2020 - Dealing with Collection Calls in COVID-19: Debt Negotiations, Deferrals, and Credit Report Impact https://youtu.be/S86gnBEkeUY?si=r0HLIpLHlWfTXdN_ (During Covid, I had a beard) Episode 373, October 23, 2021, Your Top Collections Questioned Answered by a Debt Collector, https://www.youtube.com/watch?v=Ue8gFE2Z48w Ontario Ministry of Government and Consumer Services https://www.ontario.ca/page/ministry-government-and-consumer-services I've Filed Bankruptcy & Collection Agents Are Still Calling Blog: https://www.hoyes.com/blog/ive-filed-bankruptcy-collection-agents-are-still-calling/ Collection Agents: How Did They Find Me? Blog: https://www.hoyes.com/blog/collection-agents-how-did-they-find-me/ Top 10 Tips For Dealing With A Collection Agent Blog: https://www.hoyes.com/blog/top-10-tips-for-dealing-with-a-collection-agent/ How Long Can a Collection Agency Collect on Debt in Canada? Blog: https://www.hoyes.com/blog/how-long-can-a-collection-agency-collect-on-a-debt-in-canada/ Stop The Collection Calls: Advice from Blair Demarco-Wettlaufer Blog: https://www.hoyes.com/blog/stop-the-collection-calls-advice-from-blair-demarco-wettlaufer/ Can a Collection Agency Sue You in Canada? Blog: https://www.hoyes.com/blog/can-a-collection-agency-sue-you-in-canada/ | |||
| 476 – Debt Beyond the Grave: What Happens to your Debt when you Die? | 14 Oct 2023 | 00:29:37 | |
What happens to debt when someone passes away? Host Doug Hoyes is joined by Ted Michalos to discuss a topic that might sound eerie but is incredibly important. They chat about the different types of debt: credit card balances, car loans, and mortgages. Ted provides clear and valuable advice on important topics such as life insurance, wills, and power of attorney. Doug also highlights the significance of his "Death Checklist" and the importance of informing your spouse to guarantee seamless access to your accounts. This informative conversation gives great insights for financial planning when dealing with an inevitable part of life. Related Links: How many humans have ever lived? https://www.visualcapitalist.com/cp/how-many-humans-have-ever-lived/ Doug's book, Straight Talk on Your Money https://www.hoyes.com/straight-talk/ | |||
| 475 – AI's Role in Managing Debt | 07 Oct 2023 | 00:32:52 | |
You've probably noticed that Artificial Intelligence is everywhere these days, but can it help you out with debt and managing your money? Doug Hoyes and Scott Terrio are here to chat about just that! They discuss how AI looks at your spending habits, and discuss concerns related to biases and privacy, talk about the pros and cons of using ChatGPT to handle your finances, and help you understand what it can and can't do. Don't miss out on valuable tips and advice for making smart financial decisions in our AI-driven world.
Related Links: Straight Talk on Your Money - https://www.hoyes.com/straight-talk/ How Credit Karma is Demystifying Personal Finance with AI - https://www.interactions.com/podcasts/how-credit-karma-is-demystifying-personal-finance-with-ai Chat GPT - https://chat.openai.com/ | |||
| 573 – The Best Get Out of Debt Advice from Top Guests (Compilation) | 23 Aug 2025 | 00:29:14 | |
Listen for great get-out-of-debt advice from some of our most popular guests! Featuring Canadian financial experts from Hoyes Michalos and Chris Enns, founder of Rags to Reasonable, and Danielle Park, author of Juggling Dynamite. From spotting predatory financial advisors to the importance of building an emergency fund, this episode is packed with practical, real-world tips and strategies you can start using today to get out of debt! 00:00 – The Snowball vs. Avalanche Method with Licensed Insolvency Trustee Joel Sandwith Hoyes Michalos Free Canadian Credit Rebuilding and Repair Course Disclaimer: | |||
| 474 – The CEBA Loan Dilemma | 30 Sep 2023 | 00:30:18 | |
Are you a small business dealing with the CEBA loan repayment dilemma? Ted Michalos and Doug Hoyes dive deep into the world of CEBA loans and the crucial decisions you need to make about repaying them. For many small businesses, the loan was a lifeline during the pandemic but as the repayment deadline is looming it's time to evaluate your options. Join us as we help you to understand the pros and cons of getting a bank loan to repay the CEBA loan, tax considerations that could impact your decision and explore what to do if you don't qualify for the CEBA loan repayment. Related Links: What happens it you can't pay your CEBA loan blog: https://www.hoyes.com/blog/what-happens-if-you-cant-pay-your-ceba-loan/ Federal Government CEBA loan page: https://ceba-cuec.ca/ | |||
| 473 – The Financial Aftermath of the Pandemic in Ontario vs. Newfoundland | 23 Sep 2023 | 00:35:20 | |
Join the conversation with Ian Penney, a Licensed Trustee from Janes & Noseworthy, and Doug Hoyes as they provide insights into managing your finances in the aftermath of the pandemic, with a focus on the distinctions between Newfoundland and Ontario. During the discussion, they delve into the economic landscapes of these regions, spotlighting key industries such as oil and gas, fishing, forestry, tourism, and mining. Tune in to gain valuable advice on navigating your financial journey post-pandemic. Related Links: Website: https://janesnoseworthy.ca/ LinkedIn Janes & Noseworthy: https://www.linkedin.com/company/janes-and-noseworthy/ Facebook: https://www.facebook.com/JanesNoseworthy Twitter: https://twitter.com/JanesNoseworthy | |||
| 472 – Is It Wrong To Spend on Fun? | 16 Sep 2023 | 00:32:19 | |
Every successful budget makes room for fun spending. But how much is OK to spend on fun? What if you feel guilty? Is it ever wrong to spend money on your hobbies and interests? On today's podcast, Maureen Parent returns to give advice on this less explored area of our budget and gives practical advice on how to allocate your income wisely towards leisure and why it's essential for your mental and financial health to do so. Tune in! Related Links: The Secret To Budgeting? Don't Budget https://youtu.be/u5q1Qge3k8s The P.L.A.N. Account for Budgeting: https://youtu.be/pSQ3jvrFVHU Is The 50/30/20 Budget Rule Even Possible Today? https://youtu.be/hANI5zadF2I | |||
| 471 – Is University Worth All The Debt? | 09 Sep 2023 | 00:34:34 | |
Higher education isn't getting any cheaper. The cost of going to university has more than tripled since the 1990s and we see first-hand the financial burden caused by student loans. So, is it still worth it to get into debt for post-secondary schooling? With so many advancements in free online education, aren't there cheaper alternatives? When is college the better option? Is an undergraduate degree still going to give you a job right away? Tune in to this discussion with Ted Michalos and Doug Hoyes as they share graduate statistics and give practical advice on how to think through your career and education choices. Resources Mentioned in the Show: Statistics Canada, National Student Survey: https://www150.statcan.gc.ca/n1/pub/75-006-x/2020001/article/00005-eng.htm University of Toronto, Facts & Figures https://data.utoronto.ca/facts-and-figures/ Ontario, graduation rates: https://www.iaccess.gov.on.ca/OsapRatesWeb/enterapp/home.xhtml Ontario budget, 2022-2023 https://www.ontario.ca/page/expenditure-estimates-ministry-colleges-and-universities-2023-24#vote2 Chat GPT: https://chat.openai.com/ Hoyes Michalos Annual Bankruptcy Study: https://www.hoyes.com/press/joe-debtor/ 13 Stats on Average Student Debt in Canada: https://reviewmoose.ca/blog/average-student-debt-canada/ National Graduates Survey 2018 results: https://www150.statcan.gc.ca/n1/pub/75-006-x/2020001/article/00005-eng.htm Statistics Canada – Student Debt from all sources: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3710003601 | |||
| 470 – Season 10 Season Premiere: Are You Hitting The Wall? | 02 Sep 2023 | 00:10:07 | |
Welcome to Season #10 of Debt Free in 30. Debt is up. Interest rates are up. Not surprisingly, personal insolvency filings are way up. Many people are hitting the wall. On today's abbreviated podcast, Doug Hoyes explains the numbers and why we live in a "Tale of Two Economies." If you are rich, all is good. If you have depleted your savings and have debt, times are tough. We explain the impact of the numbers and "tease" some of the topics we will be discussing in the coming weeks. Tune in, and enjoy! | |||
| 469 – REBROADCAST - Debt Mistakes to Avoid When Cash is Tight | 26 Aug 2023 | 00:31:08 | |
For our final rebroadcast of the summer, we are rebroadcasting episode #452. We know rising inflation is tough on Canadians. If your budget is getting tighter, you may be tempted to use credit (debt) to make ends meet, but that may not be a good strategy. On today's podcast, Jennifer Kwon returns with some solid practical advice for what to do if you feel you're living paycheque to paycheque and the dos and don'ts of using credit to get by. Jennifer and Doug Hoyes discuss common debt traps that should be avoided and what to do instead. They also help you think about the root causes of financial trouble so you can come up with good solutions. Tune in for a great discussion!
Related Links:
Dealing with Debt When Living Paycheque to Paycheque: https://www.hoyes.com/blog/dealing-with-debt-when-living-paycheque-to-paycheque/ Are Credit Cards Right for Credit Repair? https://youtu.be/Hy708HhFljk Buy Now Pay Later – Is It Debt? https://youtu.be/KvCO7_PUCDI Zero-based budgeting: How to Give Every Dollar a Purpose: https://www.hoyes.com/blog/zero-based-budgeting-how-to-give-every-dollar-a-purpose/ | |||
| 468 – REBROADCAST - Should Shopping Be a Game? Risks of Apps Like Temu | 19 Aug 2023 | 00:33:10 | |
Today we rebroadcast episode #453. Online shopping isn't new. Apps are not new. But is shopping supposed to be a game? That's the angle a new shopping app called Temu appears to have taken. Since its launch in September 2022, the app has millions of monthly users, offers very deep discounts, and has strong incentives to keep users coming back. On today's podcast, Doug Hoyes takes a closer look at how Temu works and interviews users from very different age groups for comparison. He also discusses whether we should be concerned about shopping gamification in general, how data is potentially treated on Temu, and whether cheaper is always better. Tune in for a unique show! Links: CNN Article: 'One of China's most popular apps has the ability to spy on its users' https://www.cnn.com/2023/04/02/tech/china-pinduoduo-malware-cybersecurity-analysis-intl-hnk/index.html How Temu topped by U.S. app charts by turning shopping into a game: https://restofworld.org/2023/temu-mobile-gaming/
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| 467 – REBROADCAST - How to Earn More Money Without a Second Job | 12 Aug 2023 | 00:32:55 | |
Today we rebroadcast episode #448. Most money experts will tell you that the best way to avoid money problems is to cut costs. And they're right. But what about also increasing your income? After all, you can only cut so much. We have seen a lot of people struggle with rising living costs, with a limited income, and needing debt to make ends meet. On today's podcast, Doug Hoyes and Ted Michalos discuss strategies for earning a higher pay without needing to do a side hustle or second job. They also explain when it's best to go back to school to increase your earning potential. Finally, they review the dos and don'ts of increasing income if you have a lot of debt. Tune for great tips!
Links:
Hoyes Michalos Bankruptcy Study: https://www.hoyes.com/press/joe-debtor/ Bank of Canada Inflation Calculator: https://www.bankofcanada.ca/rates/related/inflation-calculator/ Avoid the Surplus Income Penalty With a Consumer Proposal: https://www.hoyes.com/blog/avoid-the-surplus-income-penalty-with-a-consumer-proposal/ Surplus Income Calculator 2023: https://www.hoyes.com/personal-bankruptcy/cost-of-bankruptcy-fees/surplus-income-calculator/ | |||
| 466 – REBROADCAST - What's Making Our Groceries So Expensive? w/ The Food Professor | 05 Aug 2023 | 00:33:25 | |
Originally aired at episode 450 on April 15, 2023, the Food Professor returns. Food is now more expensive than ever. But why? Is it just corporate greed? Or something greater? Enter Dr. Sylvain Charlebois, a.k.a. The Food Professor. Sylvain is a Professor and the Scientific Director at Agri-Food Analytics Lab at Dalhousie University. On today's podcast, he demystifies grocery pricing and explains why food inflation is a global phenomenon. Sylvain also discusses the part the Canadian government plays in grocery price hikes and gives lots of valuable practical advice for how to save on your food bill. You won't want to miss this episode. Tune in! Time Stamps 7:42 What is Shrinkflation? 8:31 Groceries vs. Snacks + Tax 11:55 Is the Grocery Rebate Even Helpful? 19:01 Which Days of The Week To Shop Groceries? 23:30 Shop at 3 Different Stores 27:04 Consumers Can Make a Difference Links: The Food Professor Podcast: https://the-food-professor.simplecast.com/episodes Dr. Sylvain Charlebois on Twitter: https://twitter.com/FoodProfessor CRA: GST/HST on food products: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/gi-020/bars.html Toronto Sun article on the food rebate: https://torontosun.com/opinion/columnists/charlebois-government-handouts-are-mirage-for-needy Episode #254 – What Costco Can Teach Us About Making Financial Decisions: https://www.youtube.com/watch?v=-8PlGkHjHG8 Episode #270 – The Fable of the 20 Dollar Bill - https://www.youtube.com/watch?v=5fYfAvSnNps | |||
| 465 – Has The Recession Started? Where are we headed? | 29 Jul 2023 | 00:29:32 | |
In the season 9 finale episode of Debt Free in 30, Doug Hoyes and Ted Michalos discuss the current state of consumer insolvencies in Canada and why they're going back up. They also discuss the impact of inflation remaining higher than wage increases, higher credit card debt, and higher interest rates. Where are we heading in the latter part of 2023? Has the recession begun? What can homeowners expect in this climate? Tune in for a great discussion! Related Links: Episode 435, Debt Free in 30 Year End Prediction Show https://youtu.be/3i22JpmcozY Statistics Canada. Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000401 Statistics Canada, Average Weekly Earnings https://www150.statcan.gc.ca/n1/daily-quotidien/230629/dq230629a-eng.htm?HPA=1&indid=3555-1&indgeo=0 Statistics Canada. Table 36-10-0639-01 Credit liabilities of households (x 1,000,000) https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610063901 Mortgage Rate History from Ratehub.ca: https://www.ratehub.ca/5-year-fixed-mortgage-rate-history Mortgage Calculator, Butler Mortgage: https://www.butlermortgage.ca/mortgage-calculator/ Bank of Canada, Monetary Aggregates (Money Supply) https://www.bankofcanada.ca/rates/indicators/key-variables/monetary-aggregates/ | |||
| 572 – Best Advice for Getting Out of Debt - Top Strategies from Debt Free in 30 | 16 Aug 2025 | 00:25:18 | |
This special compilation episode is packed with nuggets of wisdom and strategies for getting out of debt. We've pulled together the best clips on avoiding credit traps, building emergency funds, and implementing practical "budgeting" strategies. 00:00 – August is a special month before launching a new season
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| 464 – Getting a Car Loan Today - What NOT To Do | 22 Jul 2023 | 00:33:30 | |
Buying a car has never been more expensive. But what if you have no choice but to buy one? How can you avoid buying too much car these days? On today's podcast, Ted Michalos and Doug Hoyes explain what's causing high car prices in both the new and used car categories, as well as, how to buy without taking out a huge auto loan. Tune in for lots of practical tips on shopping for a car and dealing with salesmen.
Resources Mentioned i the Show: Buying and Maintaining an Affordable Car: https://www.hoyes.com/blog/buying-and-maintaining-an-affordable-car/ Auto Trader Price Index March 2023: https://editorials.autotrader.ca/media/klxhaqq5/autotrader_priceindex_finalv3_march2023_en.pdf?_gl=1*uou0k4*_gcl_au*OTQ3ODQ3MTMzLjE2ODc0OTI1NDQ.&_ga=2.183395302.1188701862.1687492545-911279650.1687492545 Car Guru – Price Trends: https://www.cargurus.ca/Cars/price-trends/ CBC Car Market Analysis: https://www.cbc.ca/news/business/car-market-analysis-1.6873747 | |||
| 463 – Want To Buy a Business? Here's What To Know First | 15 Jul 2023 | 00:34:25 | |
Maybe you're tired of working for someone. Or you're looking to be your own boss. You may consider buying a business. It's not a bad idea, but just as there are advantages, there are also pitfalls you need to be aware of. Enter David Barnett. David is a seasoned expert in buying and selling small to medium-sized businesses. On today's podcast, David demystifies the process of buying a business and provides insight on how to avoid debt problems when doing so. Tune in for a great discussion with lots of practical advice. Related Links: David Barnett's Website: https://www.investlocalbook.com/ David Barnett on Twitter: https://twitter.com/DBarnettMoncton Debt Traps of Buying a Business with David Barnett: https://www.youtube.com/watch?v=-HbW9ww2BNg Bad Funding Choices for Small Business with David Barnett: https://www.youtube.com/watch?v=UaklFv3eBvI | |||
| 462 – How To Spot The Bank's Sales Tricks | 08 Jul 2023 | 00:32:52 | |
Your bank is a business, so they're always trying to sell to you because they want to make more money. How do you navigate their tricks? How do you avoid upsells when you just want to do a simple transaction? On today's podcast, Scott Terrio and Doug Hoyes discuss the pervasive sales culture at financial institutions, what you need to look out for, and teach you the basics to making better money decisions on the spot. Tune in for a great discussion!
Related Links:
Pervasive Sales Culture at Canadian Banks – Globe and Mail article: https://www.theglobeandmail.com/investing/personal-finance/article-pervasive-sales-culture-at-canadian-banks-positions-system-against-its/ Investment Selling is Not Financial Planning: https://www.hoyes.com/blog/investment-selling-is-not-financial-planning/ Should I Use My RRSP to Pay Off Debt? https://www.hoyes.com/blog/should-i-use-my-rrsp-to-pay-off-debt/ | |||
| 461 – Can't Pay Your Mortgage? Options To Keep Your Home | 01 Jul 2023 | 00:32:22 | |
With nine interest rate hikes since March 2022, mortgage borrowers have either already started to feel the increased payment pressures or will at renewal time. So, what if your mortgage payments become too much to manage? How do you avoid risking your home? On today's podcast, Doug Hoyes and Ted Michalos give practical advice for what to do if you're struggling with your mortgage payments, including the dos and don'ts, and ways to cut back on interest costs if you can afford it. Tune in for a great show! Related Links: Rising Interest Rates and Debt: What Can You Do? https://www.hoyes.com/blog/rising-interest-rates-and-debt-what-can-you-do/ Walking Away From a Mortgage in Canada: https://www.hoyes.com/blog/walking-away-from-a-mortgage-in-canada/ Can't Pay Your Mortgage? Options to Keep Your House: https://www.hoyes.com/blog/cant-pay-your-mortgage-options-to-keep-your-house/ Bank of Canada Financial System Review: https://www.bankofcanada.ca/2023/05/financial-system-review-2023/#Households Butler Mortgage Interest Rates: https://www.butlermortgage.ca/rates/ | |||
| 460 – Top Credit Repair Questions (& Fears) Answered! | 24 Jun 2023 | 00:31:49 | |
We know it can be daunting to start your credit repair journey. We are often asked where to begin and what is the fastest way to rebuild. On today's podcast, Maureen Parent is back to answer some of the most common credit rebuilding questions and address fears and misconceptions about repairing your credit. Tune in for lots of great practical advice and recommendations on which tools to use.
Related Links:
Free Credit Rebuilding Course by Hoyes Michalos: https://courses.hoyes.com/courses/rebuild-credit How to Repair and Rebuild Credit: https://www.hoyes.com/blog/how-to-rebuild-credit-5-simple-steps/ Are Credit Cards Right for Credit Repair: https://youtu.be/Hy708HhFljk Fix Bad Credit Yourself – Tips & Tricks From an Expert: https://youtu.be/BtncJCxN4So | |||
| 459 – The Pros & Cons of Self-Employment | 17 Jun 2023 | 00:34:17 | |
Self-employment has many advantages like you get to be your own boss, set your own hours, and even make more money. On the other hand, self-employment comes with challenges. Over the years, we've met with a lot of clients who were self-employed but became overwhelmed by unpaid tax debt. On today's podcast, Doug Hoyes and Ted Michalos break down what it means to be a self-employed person, explaining the benefits and pitfalls you need to be aware of before you decide to become your own employer. Tune in for lots of great practical advice! Links: Should You Start Your Own Business: https://youtu.be/hhawMCZF_kw Self-Employed: Financing Wisely to Avoid Debt Trouble: https://youtu.be/F_lo_0JP46Q What To Do If You Owe Back Taxes to CRA: https://www.hoyes.com/blog/what-to-do-if-you-owe-back-taxes-to-cra/ Keeping Your Small Business Afloat While Dealing with Debt: https://www.hoyes.com/blog/keeping-small-business-afloat-dealing-debt/ | |||
| 458 – Why You May Need More Than One Bank Account | 10 Jun 2023 | 00:29:30 | |
While bank failures are not a common occurrence in Canada, it may still be in your best interest to have more than one bank account. On today's podcast, Joel Sandwith, our LIT in London, joins Doug Hoyes to discuss banking best practices, including how many accounts you should have, where to store your savings, and why it's important to understand the right of offset if you owe your bank. They also explain how deposit insurance works and high-interest savings accounts. Tune in for an informative discussion and practical advice! Links: Why You Should Bank at More Than One Bank: https://www.hoyes.com/blog/why-you-should-bank-at-more-than-one-bank/ Frozen Bank Account. Your Rights and What To Do Next: https://www.hoyes.com/blog/frozen-bank-account-your-rights-and-what-to-do-next/ What is the Right of Offset and What Can You Do About It: https://www.hoyes.com/blog/what-is-the-right-of-offset-and-what-can-you-do-about-it/ Joel Sandwith, LIT in London: https://www.hoyes.com/about-hoyes-michalos/bankruptcy-trustees/joel-sandwith/ | |||
| 457 – Gas Costs May Be Higher Than You Think | 03 Jun 2023 | 00:32:28 | |
The price at the gas pump includes a lot of hidden costs, and they are going up. How will this impact your budget? What does it mean for the future of car ownership? On today's podcast, Ted Michalos and Doug Hoyes discuss the hidden costs of gas and how the increase in some of the price components will mean you'll only be paying more to fuel your car. They also talk about the Ontario government's plans to increase ethanol in oil and how that may impact fuel efficiency, and again, your budget. Tune in for an insightful conversation! Related Links: Statistics Canada. Table 18-10-0001-01 Monthly average retail prices for gasoline and fuel oil, by geography https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000101 Government of Ontario, Fuel Price Components: https://www.ontario.ca/motor-fuel-prices/ Government of Ontario, Cleaner Transportation Fuels: https://www.ontario.ca/page/cleaner-transportation-fuels Ontario Regulation: O. Reg. 663/20: CLEANER TRANSPORTATION FUELS: RENEWABLE CONTENT REQUIREMENTS FOR GASOLINE AND DIESEL FUELS https://www.ontario.ca/laws/regulation/r20663 Government of Ontario Press Release, November 26, 2020: https://news.ontario.ca/en/release/59352/ontario-to-be-national-leader-and-require-cleaner-and-greener-gasoline Ethanol Production Using Corn, Switchgrass, and Wood; Biodiesel Production Using Soybean and Sunflower, research study: https://link.springer.com/article/10.1007/s11053-005-4679-8 The effect of bioenergy expansion: Food, energy, and environment, research study: https://www.sciencedirect.com/science/article/pii/S1364032114000677?via%3Dihub Federal government, Ethanol, https://natural-resources.canada.ca/energy-efficiency/transportation-alternative-fuels/alternative-fuels/biofuels/ethanol/3493 Environmental outcomes of the US Renewable Fuel Standard, research study: https://www.pnas.org/doi/10.1073/pnas.2101084119 | |||
| 456 – Has Tipping Gone Too Far? (Dealing w/ Tip Creep + Your Budget) | 27 May 2023 | 00:31:22 | |
Tipping has always been a part of the dining experience. But lately, the expectation to leave a tip has become so common that we have to make it a new budgeting item. So how do you navigate tip creep? On today's podcast, we have a special guest, Sean Cassidy, who shares his experience with tipping prompts and how he's adapted his budget. Doug and Sean discuss why tip nudges are so prevalent post-Covid and lots of practical advice on how to budget for this new cost and minimize social awkwardness. Tune in for a great discussion!
Resources Mentioned in the Show:
The Fable of the 20 Dollar Bill: https://youtu.be/5fYfAvSnNps The Angry Mortgage Podcast with Ron Butler: https://www.youtube.com/@angrymortgage What's Really Causing Grocery & Food Inflation? https://youtu.be/bZrsL4LgI2A Should Shopping Be a Game? Risks of Apps Like Temu: https://youtu.be/B7Duzop33mM Zero-Based Budgeting – How To Give Every Dollar a Purpose: https://www.hoyes.com/blog/zero-based-budgeting-how-to-give-every-dollar-a-purpose/ | |||
| 455 – Is Your Emergency Fund Good Enough For Any Crisis? | 20 May 2023 | 00:30:47 | |
Everyone says you need an emergency fund. But how much is enough? And what is an emergency vs. an inconvenience? Where should you store your savings? Enter Maureen Parent. Maureen returns to share lots of practical advice on how to setup a realistic system to create your emergency fund. She also explains how much you should have saved at different stages, the types of emergencies to prepare for, and why credit cards and lines of credit are not good rainy day fund tools to rely on. Tune in for lots of great tips! Links: Build an Annual Budget You Can Adjust For Inflation & Goals: https://youtu.be/4N9rX_x8Wjc How to Manage Your Money in a Crisis: https://youtu.be/1iYKQAX1koI Why You Need an Emergency Fund: https://www.hoyes.com/blog/why-you-need-an-emergency-fund/ Maureen Parent, LIT https://www.hoyes.com/about-hoyes-michalos/bankruptcy-trustees/maureen-parent/ Maureen on Twitter: https://twitter.com/MaureenParent7 | |||
| 571 – Scam Compilation: The Most Dangerous Ways Canadians Are Being Tricked | 09 Aug 2025 | 00:26:33 | |
From shady loan offers to AI voice fraud and everything in between, this special edition of Debt Free in 30 is your go-to for avoiding financial scams. We've compiled some of the most important scam warnings from past episodes. These are real risks facing Canadians today, and knowing the red flags could protect your money, identity, and peace of mind.
Beware of Fake CRA Calls Disclaimer: | |||
| 454 – Is Raising Your Credit Limit a Bad Sign? | 13 May 2023 | 00:31:01 | |
Say your bank offers you a credit limit increase. You may be tempted to take it, but should you? When is seeking more credit a sign that your finances aren't in good shape? On today's podcast, Mark Borysiak, our LIT in Barrie, joins Doug Hoyes to discuss just how much access to credit you should have and why getting an increase can cause debt problems. Mark and Doug also explain why the banks offer credit increases in the first place and why it's good to first evaluate your finances before taking on any offers. Tune in for a great discussion! Related Links: The Pros & Cons of a Pre-Approved Credit Limit Increase: https://www.hoyes.com/blog/the-pros-cons-of-a-pre-approved-credit-limit-increase/ Mark Borysiak, LIT in Barrie: https://www.hoyes.com/about-hoyes-michalos/bankruptcy-trustees/mark-borysiak/ | |||
| 453 – Should Shopping Be a Game? Risks of Apps Like Temu | 06 May 2023 | 00:32:33 | |
Online shopping isn't new. Apps are not new. But is shopping supposed to be a game? That's the angle a new shopping app called Temu appears to have taken. Since its launch in September 2022, the app has millions of monthly users, offers very deep discounts, and has strong incentives to keep users coming back. On today's podcast, Doug Hoyes takes a closer look at how Temu works and interviews users from very different age groups for comparison. He also discusses whether we should be concerned about shopping gamification in general, how data is potentially treated on Temu, and whether cheaper is always better. Tune in for a unique show! Links: CNN Article: 'One of China's most popular apps has the ability to spy on its users' https://www.cnn.com/2023/04/02/tech/china-pinduoduo-malware-cybersecurity-analysis-intl-hnk/index.html How Temu topped by U.S. app charts by turning shopping into a game: https://restofworld.org/2023/temu-mobile-gaming/
Time Stamps: 00:32 What is Temu? 1:20 An 87-year-old's perspective of Temu 14:33 An 18-year-old's perspective of Temu 21:37 What are the risks to Temu & making informed decisions about spending | |||
| 452 – Debt Mistakes to Avoid When Cash is Tight | 29 Apr 2023 | 00:30:03 | |
We know rising inflation is tough on Canadians. If your budget is getting tighter, you may be tempted to use credit (debt) to make ends meet, but that may not be a good strategy. On today's podcast, Jennifer Kwon returns with some solid practical advice for what to do if you feel you're living paycheque to paycheque and the dos and don'ts of using credit to get by. Jennifer and Doug Hoyes discuss common debt traps that should be avoided and what to do instead. They also help you think about the root causes of financial trouble so you can come up with good solutions. Tune in for a great discussion! Related Links: Dealing with Debt When Living Paycheque to Paycheque: https://www.hoyes.com/blog/dealing-with-debt-when-living-paycheque-to-paycheque/ Are Credit Cards Right for Credit Repair? https://youtu.be/Hy708HhFljk Buy Now Pay Later – Is It Debt? https://youtu.be/KvCO7_PUCDI Zero-based budgeting: How to Give Every Dollar a Purpose: https://www.hoyes.com/blog/zero-based-budgeting-how-to-give-every-dollar-a-purpose/ | |||
| 451 – Minimum Debt Payments Going Up - What Do You Do? | 22 Apr 2023 | 00:30:57 | |
According to TransUnion, the average credit consumer with a balance in Canada saw a 10% year-over-year increase in their minimum monthly debt payments in Q4 2022. If your minimum payments start going up, what should you do? What if they already have? On today's podcast, Maureen Parent returns to discuss why minimum payments increase in the first place, and practical advice on how to get ahead of them. Maureen and Doug also share specific tips for you to negotiate with your credit card company to possibly reduce your debt costs. Tune in for a great discussion! Related Links: TransUnion Q4 2022 Release: https://newsroom.transunion.ca/credit-health-in-canada-remains-steady-despite-high-interest-rate-and-inflation-environment/ Podcast Ep 352 - The Minimum Payment Lie: https://youtu.be/6nbkc8UBW54 Minimum Payments on Credit Cards Are Keeping You In Debt: https://www.hoyes.com/blog/minimum-payments-on-credit-cards-are-keeping-you-in-debt/ Maureen Parent on Twitter: https://twitter.com/MaureenParent7 Maureen Parent, LIT: https://www.hoyes.com/about-hoyes-michalos/bankruptcy-trustees/maureen-parent/ | |||
| 450 – What's Making Our Groceries So Expensive? w/ The Food Professor | 15 Apr 2023 | 00:31:58 | |
Food is now more expensive than ever. But why? Is it just corporate greed? Or something greater? Enter Dr. Sylvain Charlebois, a.k.a. The Food Professor. Sylvain is a Professor and the Scientific Director at Agri-Food Analytics Lab at Dalhousie University. On today's podcast, he demystifies grocery pricing and explains why food inflation is a global phenomenon. Sylvain also discusses the part the Canadian government plays in grocery price hikes and gives lots of valuable practical advice for how to save on your food bill. You won't want to miss this episode. Tune in! Time Stamps 7:42 What is Shrinkflation? 8:31 Groceries vs. Snacks + Tax 11:55 Is the Grocery Rebate Even Helpful? 19:01 Which Days of The Week To Shop Groceries? 23:30 Shop at 3 Different Stores 27:04 Consumers Can Make a Difference Links: The Food Professor Podcast: https://the-food-professor.simplecast.com/episodes Dr. Sylvain Charlebois on Twitter: https://twitter.com/FoodProfessor CRA: GST/HST on food products: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/gi-020/bars.html Toronto Sun article on the food rebate: https://torontosun.com/opinion/columnists/charlebois-government-handouts-are-mirage-for-needy Episode #254 – What Costco Can Teach Us About Making Financial Decisions: https://www.youtube.com/watch?v=-8PlGkHjHG8 Episode #270 – The Fable of the 20 Dollar Bill - https://www.youtube.com/watch?v=5fYfAvSnNps | |||
| 449 – Where Is Inflation Going & What Does It Mean For You? w/ David Macdonald | 08 Apr 2023 | 00:37:22 | |
We are no strangers to inflation, with the cost of living soaring to new records. But what's really causing inflation? Where are our dollars going and what's the impact on the economy? On today's podcast, David Macdonald, a senior economist at the Canadian Centre for Policy Alternatives, returns to discuss his research on why we see inflation and who benefits. David also shares his thoughts on employment, where wages are headed, and whether credit card debt will continue to trend upwards. Tune in for a very informative discussion! Related Links: Podcast 319: CERB Transition to EI https://youtu.be/piEhsYgWU8I Podcast 114: Basic Income, Is it a Silver Bullet for Poverty? https://youtu.be/mi3tWjg1bC4 Where Are Your Inflation Dollars Going Report: https://policyalternatives.ca/publications/reports/where-are-your-inflation-dollars-going David Macdonald on Twitter: https://twitter.com/DavidMacCdn Canadian Centre for Policy Alternatives: https://policyalternatives.ca/ Statistics Canada. Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000401
Time Stamps: 1:34 What is Inflation and Where Is It Going 5:10 Who Benefits From Inflation? 12:42 Wages vs. Inflation 16:27 Is Unemployment Actually Low? 18:48 Why We Didn't Have the Great Resignation in Canada 24:30 Is Now the Best Time To Change Jobs? 27:10 Will Credit Card Debt Keep Going Up? | |||
| 448 – How to Earn More Money Without a Second Job | 01 Apr 2023 | 00:32:20 | |
Most money experts will tell you that the best way to avoid money problems is to cut costs. And they're right. But what about also increasing your income? After all, you can only cut so much. We have seen a lot of people struggle with rising living costs, with a limited income, and needing debt to make ends meet. On today's podcast, Doug Hoyes and Ted Michalos discuss strategies for earning a higher pay without needing to do a side hustle or second job. They also explain when it's best to go back to school to increase your earning potential. Finally, they review the dos and don'ts of increasing income if you have a lot of debt. Tune for great tips! Links: Hoyes Michalos Bankruptcy Study: https://www.hoyes.com/press/joe-debtor/ Bank of Canada Inflation Calculator: https://www.bankofcanada.ca/rates/related/inflation-calculator/ Avoid the Surplus Income Penalty With a Consumer Proposal: https://www.hoyes.com/blog/avoid-the-surplus-income-penalty-with-a-consumer-proposal/ Surplus Income Calculator 2022: https://www.hoyes.com/personal-bankruptcy/cost-of-bankruptcy-fees/surplus-income-calculator/ | |||
| 447 – Why Owing Tax Debt Is So Much Worse in 2023 | 25 Mar 2023 | 00:33:15 | |
The last three years have been quiet for Canada Revenue Agency collections. But that has started to change in 2023 – which is bad news for Canadian borrowers already struggling with inflation and record rate hikes. On today's podcast Scott Terrio and Doug Hoyes breakdown how CERB, CRB, and CEBA loan repayments have impacted Canadians and small business owners, why 2023 is especially concerning for indebted households, and what stronger CRA collections mean if you owe tax debt. They also outline options for dealing with the CRA to avoid a headache. Tune in for an insightful discussion!
Links:
What Happens If You Can't Pay Your CEBA Loan? https://www.hoyes.com/blog/what-happens-if-you-cant-pay-your-ceba-loan/ Hoyes Michalos Bankruptcy Study (Joe Debtor): https://www.hoyes.com/press/joe-debtor/ CERB and EI Statistics: https://web.archive.org/web/20220606110225/https:/www.canada.ca/en/services/benefits/ei/claims-report.html CRB Statistics: https://web.archive.org/web/20220604110136/https://www.canada.ca/en/revenue-agency/services/benefits/recovery-benefit/crb-statistics.html CRCB Statistics: https://web.archive.org/web/20220604103941/https://www.canada.ca/en/revenue-agency/services/benefits/recovery-caregiving-benefit/crcb-statistics.html | |||
| 446 – Saving for a Down Payment – What's the Best Account? FHSA? RRSP? TFSA? | 18 Mar 2023 | 00:34:10 | |
The Canadian government just announced a new Tax-Free First Home Savings Account (FHSA), which will launch on April 1, 2023. This new account gives first-time home buyers the ability to save $40,000 tax-free to put towards their first home. But don't we already have this program through RRSPs First Time Home Buyers Plan? And what about Tax-Free Savings Accounts (TFSA)? How do these savings vehicles differ? That's the discussion on today's podcast, with guest Ted Michalos. Doug and Ted also discuss what happens to money in these accounts when you file a consumer proposal or bankruptcy and whether you should first pay down debt or invest. Tune in for lots of practical advice! Helpful Links: Design of the First Home Savings Account: https://www.canada.ca/en/department-finance/news/2022/08/design-of-the-tax-free-first-home-savings-account.html Ottawa's New Tax-Free Home Savings Account is Coming – What To Know: https://www.jamiegolombek.com/articledetail.php?article_id=1998 Should You Pay Down Debt or Invest in RRSP: https://www.hoyes.com/blog/pay-down-debt-or-invest-in-rrsp/ Should I Use My RRSP to Pay Off Debt? https://www.hoyes.com/blog/should-i-use-my-rrsp-to-pay-off-debt/ | |||
| 445 – Top Scams To Watch For According to Interac Fraud Expert | 11 Mar 2023 | 00:33:43 | |
Fraudsters and scammers look for every available opportunity to prey on you. How can you protect yourself? Enter Rachel Jolicoeur. Rachel is the Director of Cyber Market Intelligence & Financial Crimes at Interac, and she is back on the podcast with Doug Hoyes to share the top scams she's seeing in 2023, from renter scams to investment cons. Rachel shares lots of practical tips and helpful information to help you stay vigilant. You won't want to miss this show. Tune in & share to spread awareness. 1:40 Renter Scams 5:55 Loan Scams 9:51 Employment/Job Scams 15:59 Investment Scams 21:06 Canada Revenue Agency (CRA) Scam 25:04 How Interac Auto-Deposit Prevents Fraud Links: How to Avoid E-Transfer Email Scams: https://youtu.be/971-DQWk4CI Interac Digital Self-Care Checkup: https://www.interac.ca/en/content/life/digital-self-care-stay-safe-online-with-the-ultimate-cyber-security-checkup/ Online Investment Cyber Crime: https://ottawa.ctvnews.ca/it-s-heartbreaking-ottawa-woman-says-she-lost-100-000-in-an-online-investment-cyber-crime-1.6296899 | |||
| 570 – Debt Free in 30: Bloopers & Best Bits! | 02 Aug 2025 | 00:10:41 | |
While we're known for expert debt advice, let's say it's a good thing we're better at being LITs than we are at staying on script! Join us for a compilation of our funniest on-air flubs, the kind of candid moments that usually end up on the cutting room floor. It's the perfect mix of lighthearted fun and the valuable debt insights you've come to expect. Don't miss this special (and hilarious) blooper episode!
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| 444 – What Should Your Debt Service Ratio Be? | 04 Mar 2023 | 00:28:51 | |
A debt service ratio basically the amount of your monthly income that's used to service your monthly debt payments. But why does this ratio matter and what's a good debt service ratio to have? On today's podcast, Doug Hoyes and Ted Michalos break down how a debt service ratio is calculated, what it means for your financial health and practical advice for how to avoid a high ratio and debt problems. Tune in to this episode, which also serves as a great introduction to financial literacy. Links: What's the Wealth Effect (And Why It Matters To You): https://youtu.be/jVjVS8gik2o 4 Personal Finance Ratios That Measure Debt Risk: https://www.hoyes.com/blog/4-personal-finance-ratios-that-measure-debt-risk/ | |||
| 443 – What To Do When Debt Collectors Get Aggressive? | 25 Feb 2023 | 00:34:45 | |
When debt collectors start getting aggressive with their collection efforts, what do you do? What should you avoid saying to a collection agent? When does the Statute of Limitations on debt come into play? And what if you can repay only some of your debt? On today's podcast, Scott Terrio returns with Doug Hoyes to give practical advice on dealing with collection agencies and spotting their tricks. They also share specific tips for approaching Canada Revenue Agency when you have unpaid tax debt. Tune in for a great show! Related Links: Exposing Collection Agencies' Dirty Tricks: https://www.hoyes.com/blog/collection-agency-dirty-tricks/ Collection Agents: How Did They Find Me? https://www.hoyes.com/blog/collection-agency-dirty-tricks/ Top 10 Tips for Dealing with a Collection Agent: https://www.hoyes.com/blog/top-10-tips-for-dealing-with-a-collection-agent/ Can a Collection Agency Take Me to Court? https://youtu.be/6UHpCGqVP4k | |||
| 442 – Half of All Bankruptcies Filed by Millennials – Why? [New 2022 Study] | 18 Feb 2023 | 00:31:29 | |
We just released our 2022 Hoyes Michalos Consumer Insolvency Study which found that 49% of all insolvencies are now being filed by Millennials. Millennials were the only age demographic to see a rise in their unsecured debt obligations last year. On today's podcast, Doug Hoyes and Ted Michalos explain why Millennial insolvencies are rising. They also discuss another alarming trend from our study – the growth in Rapid Loan (high-cost payday and installment loan) usage. Tune in for a great discussion! Links: Hoyes Michalos Consumer Insolvency Study 2022: https://www.hoyes.com/press/joe-debtor/ Rapid Loans & Insolvency Study 2022: https://www.hoyes.com/press/joe-debtor/how-insolvent-borrowers-use-payday-loans/ | |||