Debt Free in 30

617- Saving While in Debt - Smart or Stupid? Jun 27, 2026 30:07 Is saving money while in debt a smart financial move? Doug & Ted break down the strategy to help you decide how to manage your cash. Many people struggle with the dilemma of whether to prioritize building savings or paying off debt aggressively. This conversation explores the logic behind both approaches, offering a practical analysis for anyone currently carrying a balance. We look at the trade-o

616 - The Financial Impact of a Crisis - Building Resilience Jun 20, 2026 30:41 Learn how to survive a financial crisis by building resilience and strengthening your personal finance foundation. This conversation provides practical steps to prepare for economic instability. We discuss the core principles of protecting your assets and maintaining stability during uncertain times. Whether you are concerned about market volatility or personal budget security, this discussion off

615 - Your Credit Limit Is TOO HIGH (Here's Why That's a Problem) Jun 18, 2026 29:52 Is your credit limit too high? Learn how to safely request a lower credit limit to manage your personal finances more effectively. Most financial advice focuses on getting more credit, but having too much available can be a liability for some borrowers. This video explains why you might want to reduce your total credit limit and the specific steps required to contact your bank to make this adjustm

614 – Splitting Up with Shared Debt: What Happens When Couples Break Up Jun 6, 2026 31:55 No one enters a relationship expecting to one day untangle joint credit cards, co-signed loans, or shared lines of credit. Yet when a relationship ends, many people discover they're still financially connected long after they've gone their separate ways. Doug Hoyes and Ted Michalos discuss who is legally responsible for shared debt after a breakup, how separation can affect your credit score, comm

613 – Credit Score Myths Busted: What Canadians Get Wrong About Credit Reporting May 30, 2026 30:25 Canadians hear a lot of advice about credit scores, but much of it is outdated, oversimplified, or borrowed from the U.S. and simply doesn't apply here. Does carrying a balance help? Does checking your score hurt it? Can you pay to remove bad credit? Does having a high income automatically mean a strong score? Listen to learn what actually moves the needle when it comes to building stronger financ

612 – When Should You Pay Your Credit Card? Smarter Timing for Better Credit May 23, 2026 30:22 Most people assume paying their credit card on the due date means they're managing debt responsibly. But timing matters more than most people realize. Doug Hoyes and Ted Michalos explain why people who always make their payments on time can still end up carrying balances, paying unnecessary interest, and struggling to make progress. Whether your goal is reducing interest, staying organized, or bui

611 – Before You Borrow: 7 Questions to Ask Yourself to Avoid Debt Regret May 16, 2026 30:00 Most people do not end up in serious debt because of one huge mistake. It is usually a series of small decisions that felt reasonable at the time. Doug Hoyes and Ted Michalos discuss seven important questions everyone should ask before borrowing money, whether it is for a car loan, line of credit, credit card purchase, or buy-now-pay-later financing. From calculating the true cost of borrowing to

610 – Financial FOMO: How the Fear of Missing Out Drives You Into Debt May 9, 2026 30:29 From social media influencer culture to "buy now, pay later" spending, financial FOMO can quietly push people deeper into debt without realizing it. Licensed Insolvency Trustee Maureen Parent from Hoyes Michalos breaks down how the fear of missing out impacts our financial decisions, why comparison culture can lead to overspending, and the warning signs that your spending habits may be emotionally

609 – Credit Card Insurance: Do You Need It, or Is It Just Another Upsell? May 2, 2026 30:19 Credit card insurance is often presented as an easy way to protect yourself, but the details can be more complex than they appear. We break down how it works, the different types of coverage available, and the fine print that can impact whether a claim is approved. From rising costs tied to your balance to common exclusions, understanding the structure of this coverage matters. We also look at whe

608 – Advice or Sales Pitch? Why Canadians Have Lost Trust in Banks Apr 25, 2026 30:27 Most Canadians trust their bank to help them make smart financial decisions. But sometimes, what feels like advice is shaped by something else. We talk about how bank incentives influence recommendations, why that can lead to confusion, and what it means for your money. You'll also learn how to ask better questions to feel more confident in the choices you're making. A clearer look at what's real

607 – Credit Score vs Cash Flow: What Actually Matters in a Crisis? Apr 18, 2026 30:22 A high score does not always indicate stable finances. It is possible to keep up with most of your bills and maintain a decent credit score while still feeling like you are falling behind. When cash flow is stretched, even when you are trying your best to stay on top of things, the situation can quietly get worse. This episode breaks down why cash flow, not a credit score, determines whether you c

606 – When Rent Eats Your Paycheque: The Hidden Reason Canadians Are Falling Into Debt Apr 11, 2026 29:54 When rent takes up too much of your income, debt often follows, not because of overspending, but because the numbers no longer work. Many Canadians are finding that even after cutting back and budgeting carefully, there simply isn't enough left at the end of the month. Doug Hoyes and Ted Michalos explain why rising housing costs are a key driver of debt, how to recognize when your situation is m

605 – Owe CRA Tax Debt? The Biggest Loan Mistake Canadians Make Apr 4, 2026 30:23 Owing money to the CRA can feel urgent, and taking out a loan might seem like the fastest way to fix it. But in many cases, it can make your situation worse. Doug Hoyes and Ted Michalos break down when borrowing to pay off tax debt might work, and when it creates bigger financial risk. From self-employed Canadians stuck in a cycle of owing taxes every year, to homeowners refinancing and increasing

604 – The Dangers of Installment Loans Mar 28, 2026 30:46 Installment loans are often marketed as a safer alternative to payday loans because payments are predictable and structured. However, fixed payments do not always mean lower cost or less financial risk. Learn the warning signs of high-cost borrowing, common misconceptions about structured payments, and practical ways to evaluate whether an installment loan helps or makes debt harder to manage. R

603 – Prevent Tax Debt and Mistakes 2026 Mar 21, 2026 19:57 Tax issues are not just about deductions. They come down to timing, habits, and the small decisions that add up over the year. This episode focuses on the practical systems that help you stay organized and avoid costly surprises at filing time. Learn how to manage CRA accounts, avoid common filing mistakes, and build simple routines that can help prevent tax debt in 2026. Register for a CRA Acco

602 – Is It Too Late to Save for Retirement? Real Math Canadians Need to See Mar 14, 2026 30:35 Many Canadians worry that they started saving for retirement too late. The numbers can feel discouraging, especially if debt, minimum payments, or everyday expenses delay investing for years. This conversation breaks down the math behind retirement saving and why delay matters more than age. Instead of focusing solely on hitting a "$1 million retirement goal," the discussion shifts to more practic

601 – The Most Dangerous Financial Advice on the Internet Mar 7, 2026 30:39 Financial advice is everywhere online. Some of it is mathematically correct, but that does not mean it is right for your situation. Popular tips can sound smart, but if money is already tight, those strategies can sometimes make things worse instead of better. Hear the full episode to learn about some of the most common financial tips circulating online and why, in the wrong situation, they can qu

600 – Debt Misunderstandings Keeping Canadians Stressed Feb 28, 2026 31:12 In this milestone episode, Doug Hoyes and Ted Michalos discuss the biggest myths about debt that refuse to die, the one behaviour that most reliably predicts insolvency, and explain what people who successfully recover from debt tend to do differently. After working with more than 75,000 Canadians over nearly three decades, one theme stands out: debt problems rarely explode overnight. They compou

599 – What Happens When You Can't Afford to Stay in Your Home? Feb 21, 2026 30:46 Owning a home is supposed to bring stability, but for many Canadian households, the numbers are getting harder to manage. Mortgage renewals at higher rates, unexpected repairs, and rising day-to-day costs can quietly shift a manageable situation into one that no longer works. This conversation explores the early warning signs that homeownership may be becoming unsustainable, including relying on c

598 – Stability Isn't Safety: Flat Insolvency Numbers Are a Warning Sign Feb 14, 2026 29:52 The numbers tell a story of deferred pressure. Consumer insolvency filings in Ontario were essentially flat in 2025, but our latest Joe Debtor study shows debt is still rising as Canadians layer on borrowing across more accounts, cards, and lenders. Doug Hoyes and Ted Michalos look at how these numbers point to a structural shift in the Canadian economy, how "death by a thousand minimum payments"

597 – Why Your Credit Might Get Cut Off (And What You Can Do About It!) Feb 7, 2026 29:46 Some Canadians are waking up to a surprise: reduced credit limits, frozen lines of credit, or cancelled credit cards…even with solid credit scores and no missed payments. Banks are pulling back on credit, and a good score might not be enough to protect you anymore. Find out why lenders are reassessing risk, why they are closing unused accounts, and what these changes mean for your finances as we h

596 – What To Do First When You're Behind On Bills Jan 31, 2026 30:55 Behind on bills and not sure where to start? If money is tight and payments are stacking up, this episode gives you a clear starting point. Doug Hoyes and Licensed Insolvency Trustee Maureen Parent break down what to prioritize first, what can safely wait, how to handle creditor calls, and when it makes sense to look at a more permanent fix. A practical, no-panic roadmap for protecting the basics,

595 – Mortgage Renewal Shock: What Homeowners Need to Know for 2026 | Ron Butler Jan 24, 2026 35:04 Millions of Canadian mortgages taken out at ultra-low rates between 2020 and 2022 are now coming up for renewal – at much higher rates. That reality has led many to warn about a "mortgage renewal cliff" in 2026. Doug Hoyes is joined by Ron Butler (Butler Mortgage, Angry Mortgage Podcast) to unpack what's behind the renewal headlines, why renewal is a cash-flow test (not a crystal ball) and how hom

594 – Why Even High-Income Earners Struggle with Debt Jan 17, 2026 30:17 More and more high-income Canadians are finding themselves under financial pressure. Doug Hoyes and Ted Michalos examine the shift they are seeing firsthand and challenge some common assumptions about who struggles with debt. They discuss how rising costs, borrowing capacity, and income complexity can quietly change financial outcomes, even for people who appear financially secure. Subscribe to t

593 – Never Thought About Financial Planning? Where to Start With Debt Jan 10, 2026 30:15 Financial planning doesn't have to start with investing or retirement, and it doesn't require everything to be "under control" first. This is a practical, non-judgmental conversation that explains what financial planning really means, how it differs from budgeting, and where to start when money is tight or debt is part of the picture. You'll be able to understand cash flow, set priorities, and red

592 – The Wealthy Barber: Financial Issues Canadians are Struggling with Most Jan 3, 2026 58:59 David Chilton, author of The Wealthy Barber and one of Canada's most influential voices on personal finance, joins Doug Hoyes on Debt Free in 30 for an extra special double–long episode. Doug and David dig into the issues Canadians are struggling with most: the true cost of inflation, a "K-shaped" economy, housing affordability, rising student debt, the growing gap between financial knowledge and

591 – Why Debt Is Rising, but Bankruptcies Aren't (Yet) — and 2026 Insolvency Predictions for Canadians Dec 27, 2025 41:03 Debt is at record highs, yet insolvencies are flat. Why? In this episode of Debt Free in 30, Licensed Insolvency Trustees Doug Hoyes and Ted Michalos explain a financial paradox that's leaving millions of Canadians stressed, exhausted, and confused. The answer isn't that people are okay. It's that people are enduring. If you're paying your bills but still feel like you're drowning, this episode is

590 – Will Your Investments Survive Serious Debt? Dec 20, 2025 29:52 If you're carrying serious debt but also have money in an RRSP, TFSA, or other investments, one of the biggest fears is this: Will I lose everything if I get help? Doug Hoyes and Ted Michalos, Licensed Insolvency Trustees, break down what actually happens to your investments when debt becomes unmanageable. They explain which assets are protected under Canadian insolvency law, which are at risk, an

589 – Debt Collectors Busier Than Ever? - What They Are Really Looking For from You Dec 13, 2025 30:43 Debt collectors are contacting Canadians more than ever. In this episode, Doug Hoyes and Ted Michalos explain why activity is increasing, what collectors are actually looking for, and how to respond without accidentally restarting the clock on old debts. They also cover how to spot scams, understand your rights, and know when it's time to get professional help. Ontario Limitations Act Collection

588 – Are You Financially Fit Enough to Invest? Dec 6, 2025 32:17 Start investing because your numbers say "go," not because the internet says "now." This episode will remove the guesswork from entering the world of investing and provide a straightforward way for you to judge your readiness. Using simple math in layman's terms (think "why paying 20% interest beats chasing a maybe 10% return"), we discuss what to do first, how to keep bills safe from market swin

587 – Should Parents Help Adult Children with Debt? Nov 29, 2025 30:00 With housing costs, student loans, and everyday expenses skyrocketing, more young adults are turning to their parents for financial support. Doug Hoyes and Ted Michalos unpack the emotional, financial, and practical realities behind "helping" adult children, including why many parents feel compelled to assist, and break down the real risks of co-signing, lending money, or tapping home equity to s

586 - Should You Use Your Home Equity to Pay Off Debt in This Market? Nov 22, 2025 34:52 Turn your home equity into a plan, not a panic button! This episode gives a clear, practical checklist for using a HELOC or second mortgage wisely: how they work, what they cost, when they help, and when alternatives (like a consumer proposal) will protect your cash flow and your home better. Listen first, then decide with the numbers. (00:00) Toronto condo stress and Welcome to Scott Terrio (05:

585 – Small Business: Mixing Personal and Business Debt Pros & Cons Nov 15, 2025 32:14 Many Ontario small business owners use personal credit to get a venture off the ground, because banks rarely lend to brand-new businesses. That convenience can help with early cash-flow gaps and sometimes costs less than a high-risk business loan, but it also creates serious personal exposure: guarantees, blurred books, CRA headaches, and credit-score damage. Doug and Ted walk through when using p

584 – Top Mistakes Debtors Make and How to Avoid Them Nov 8, 2025 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. Canada-specific guidance for debtors with tips on protecting your long-term financial health. (

583 – Job Loss: What to Do Financially in Your First 30 Days Nov 1, 2025 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 an

582 – How to Prioritize When Every Expense Feels Urgent Oct 25, 2025 31:01 When money is tight, everything feels urgent. Rent, groceries, a credit card bill, and that unexpected car repair. In this episode, we walk through a survival-mode framework for prioritizing essentials, organizing a bare-minimum budget, and avoiding common traps that lead to a deeper debt spiral. We discuss why "loud" debts aren't always the ones you should pay first, and when it makes sense to s

581 – Why the Best Financial Advice Sounds Boring – But Works Oct 18, 2025 31:09 Ever feel like the best financial advice sounds... boring and hard to stick to? Doug Hoyes and guest Licensed Insolvency Trustee Maureen Parent discuss why the most effective money habits are often the least exciting. From the myth of quick fixes to the power of slow, steady progress, they explore how consistency, not complexity, builds lasting financial stability. You'll also hear practical, rea

580 – Can You Really Live Debt Free in Canada? Oct 11, 2025 31:04 Can you live without debt in today's Canada? In this myth-busting episode, Doug and Ted explore the real cost of going debt-free. They unpack the difference between credit and debt, challenge the necessity of mortgages and student loans, and share strategies to reduce or eliminate debt, whether you're starting out or retiring soon. From rising housing costs to the fear of missing out (FOMO), this

579 – Budgeting Without Burnout: Finding the Right Tracking Method Oct 4, 2025 32:13 Is tracking every single expense the key to taking control of your finances, or just a fast track to burnout? What are the pros and cons of meticulous money tracking? Doug Hoyes and guest Charlie Kovacs debate who benefits most from detailed spending logs, when it's OK to simplify, and strategies to build a money system that actually sticks. 00:00 – Welcome & Introduction: Charlie explains why h

578 – Student Loan Struggles in Canada: Paying Debt Years Later Sep 27, 2025 30:10 Student loans can follow Canadians for years after graduation, sometimes delaying life milestones like buying a home or starting a family. In this episode, Doug Hoyes and Ted Michalos explain why student debt is so difficult to repay in Canada, the risks of borrowing for education, and the Supreme Court's latest ruling on the "7-year rule" for government student loans. If you're still paying off y

577 – How to Break Free from the Minimum Payment Trap Sep 20, 2025 30:40 Making only the minimum payment on credit cards may feel manageable, but it's one of the riskiest financial habits for Canadians today. Doug Hoyes and Ted Michalos explain the real math behind minimum payments and share practical strategies for breaking out of the cycle for good. 00:00 – Setting the stage: the shift from "getting by" to falling behind 02:30 – The math behind minimum payments 08:

576 – First-Time Homebuyer's Survival Guide: Avoid Hidden Costs & Regrets Sep 13, 2025 31:26 Are you considering stepping into the world of homeownership? This episode is packed with insights every first-time homebuyer needs. Doug Hoyes and Ted Michalos discuss why a declining market might benefit new buyers, the emotional traps leading to risky financial decisions, and the true cost of homeownership – beyond the mortgage. Learn how unexpected expenses (from land transfer taxes to home re

575 – Why Canadians Are Financially Struggling, Even When Doing Everything Right Sep 6, 2025 29:57 Staying financially stable in Canada has never been harder. Even when you're working, budgeting, and "doing everything right," rising insolvencies, higher debt loads, and a cooling housing market are leaving many Canadians struggling to stay afloat in 2025. If you've ever wondered why it feels impossible to get ahead financially (even when you're trying your best!?), this episode helps explain th

574 – Simple Shifts: Ways to Save More and Spend Less Aug 30, 2025 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. (01:00) Avoiding hidden service charges (04:

573 – The Best Get Out of Debt Advice from Top Guests (Compilation) Aug 23, 2025 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

572 – Best Advice for Getting Out of Debt - Top Strategies from Debt Free in 30 Aug 16, 2025 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 01:00 – Why people end up in debt 02:10 – How to avoid the minimum payment trap 03:40 – Bu

571 – Scam Compilation: The Most Dangerous Ways Canadians Are Being Tricked Aug 9, 2025 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. 00:00 – August is a special episode month bef

570 – Debt Free in 30: Bloopers & Best Bits! Aug 2, 2025 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) bloo

569 – The Fastest Ways To Break Free From Debt Jul 26, 2025 31:37 You need strategies that go beyond budgeting apps. Doug Hoyes and Ted Michalos are experts who've seen it all – and they offer practical, honest advice to build momentum and pay off debt faster. Learn what you can do before considering insolvency, how to know if you're at that point, and what to do if you are—a clear, actionable guide for Canadians. (00:30) How Interest Works (and How to Make It W

568 – Can You Have Good Debt? Debt In Canada Today Jul 19, 2025 29:58 Is debt still avoidable, or has borrowing become a fact of life in Canada? Ontario Licensed Insolvency Trustees Doug Hoyes and Ted Michalos answer our questions, share a simple test to assess new debt, and provide an action plan for those struggling to make ends meet. (00:00) What's changed in Canada's economy recently? (02:30) The problem with "good debt" as conventional wisdom (04:00) Auto lo

567 – How to Financially Prepare for Canada's Recession Jul 12, 2025 30:21 Don't just brace for a recession, prepare to come out stronger. This conversation is about turning Canada's economic uncertainty into an opportunity for financial growth (or, at least, stability). We'll equip you with proactive strategies for managing debt, finding new income streams, and building a mindset of resilience. Learn how to take decisive control of your financial future, no matter what

566 – Can It Be Too Late to Get Out of Debt? How to Start Fresh at Any Age Jul 5, 2025 29:55 Is it ever "too late" to get out of debt? Whether you're mid-career, nearing retirement, or already retired, this episode will shatter the "too late" myth and walk you through clear, actionable steps to take control of your finances, no matter your age or life stage. Visit hoyes.com to get personalized support in Ontario from a Licensed Insolvency Trustee to reduce debt before retirement, and ac

565 – Parents' Debt In Your Name? Co-Signing Risks You Need To Know Jun 28, 2025 30:20 When parents ask their adult children to co-sign a loan, add their name to a mortgage, or take out a car loan "for the family," it can feel impossible to say no. But what are the risks? Ontario Licensed Insolvency Trustees Doug Hoyes and Ted Michalos break down the financial (and emotional) minefield of taking on debt for your parents. From credit utilization issues to legal responsibility and lo

564 – What New Canadians Should Know About Credit and Debt Jun 21, 2025 30:19 For many newcomers to Canada, the Canadian credit system can feel like a high-stakes challenge. Although it's essential for building a financial life, aggressive lending practices, cultural mindsets around credit, and a lack of clear guidance can lead to overwhelming debt before fully understanding how the system works. In this essential episode, Ontario Licensed Insolvency Trustees Doug Hoyes a

563 – Debt: The New Normal? Comparing Boomer and Millennial Mindsets Jun 14, 2025 30:37 Boomer budgeting tips collide with millennial money challenges in this candid conversation about debt, savings, housing costs, and the rise of gig-work income. Whether saving for a first home or paying off old credit cards, this episode bridges the generation gap with actionable insights for any age, complete with tried-and-true tactics Boomers still swear by, tech-savvy hacks Millennials can't li

562 – Canada's Credit Score Crisis: Does France's No Score System Reveal A Better Way? Jun 7, 2025 30:24 Have you ever wondered what life would look like if your credit score didn't exist? Licensed Insolvency Trustees Doug Hoyes and Ted Michalos compare Canada's score-driven system with France's radically different, no-score approach. You'll learn: How France decides who can borrow—without a three-digit score. The cultural attitudes that shape lending and spending in France and Canada Why cr

561 – Zombie Subscriptions: How To Spot And Cancel Hidden Budget Killers May 31, 2025 30:25 Zombie memberships are real – and they're feasting on your budget every month. Forgotten fitness app? Digital subscription you thought was cancelled? Auto-renewals can quietly drain your finances if you're not paying attention. Doug Hoyes and Ted Michalos discuss why some subscriptions are so easy to miss, and how to track, cancel, and avoid them going forward. This episode includes real example

560 – Legal Actions Creditors Can Take in Canada (And How to Protect Yourself) May 24, 2025 30:37 What legal actions can creditors take if you stop paying your debts? From collection calls to lawsuits and wage garnishments, Licensed Insolvency Trustees explain the real timeline of creditor actions—including how the CRA (Canada Revenue Agency) collects without going to court, and how to avoid scams when seeking help. ✅ Know your rights✅ Understand the legal process✅ Learn when (and how) to

559 – Denied Credit? The Survival Guide for Emergency Situations May 17, 2025 29:43 Denied credit when you need it most? Learn why creditors reject credit and loan applications and what steps you can take next. This guide covers real solutions to dealing with emergency credit denial, from avoiding payday loan traps to protecting yourself financially in tough times. Doug and Ted also recommend using the links below to access your free credit reports, a right for all Canadians! Y

558 – What It Means To Be House Poor And How To Avoid It May 10, 2025 30:40 What does it mean to be house poor in today's Canadian economy? With home prices rising much faster than wages, more people are stretching their finances to buy property, only to find themselves stressed, overleveraged, and without a financial safety net. We explore how the definition of "house poor" has evolved, the role gig work and income instability play, and whether it's ever worth it to s

557 – How To Avoid Car Financing Mistakes In 2025 May 3, 2025 31:17 Loans are getting longer, interest rates are getting higher, and that shiny new car? It could lead to serious debt. We dive into Canadian data to help you make informed choices when it comes to buying, leasing, or walking away from a car loan that no longer makes sense. Can I Buy a Car With Bad Credit? Car Buying Options Keep You In a Debt Cycle How GMC Revolutionized the Car Loan Industry Docu

556 – Is Debt Fatigue Holding You Back? Strategies for Renewed Focus Apr 26, 2025 30:21

555 – The Future of Canadian Savings: Are We Saving Enough for What's Ahead? Apr 19, 2025 30:20 Saving money: the basic idea is easy, but the reality for Canadians often presents unexpected challenges. Join trusted Ontario experts Doug Hoyes and Ted Michalos as they discuss "saving" in today's challenging economy. Learn how to calculate your personal savings rate, understand the obstacles many face (and strategies to overcome them!), and discover the true priorities, aspirations, and concer

554 – AI Scams & Debt: Staying Safe in a New Era of Fraud Apr 12, 2025 30:28 Artificial intelligence is no longer just a futuristic concept – it's actively reshaping the landscape of scams and posing a significant threat to your financial well-being. Are you prepared for this new era of fraud? In this episode, we delve into the alarming ways AI is being used to create more sophisticated and personalized scams that could directly impact your debt. We'll explore how even fam

533 – Debt & Neurodiversity: Understanding the Connection and Finding Solutions Apr 5, 2025 34:57 Ever feel like managing money comes with its own set of challenges? If you're neurodivergent, those challenges can sometimes feel amplified. In this episode, we welcome Licensed Insolvency Trustee Maureen Parent and dive into the crucial intersection of neurodivergence and debt, exploring how executive dysfunction, time blindness, and impulse spending can impact your financial life. Discover the

552 – Gamified Spending: The Hidden Dangers of Retail Tricks Mar 29, 2025 32:21 Is shopping becoming a dangerous game? From live streams to influencer deals to 'Buy Now, Pay Later' offers—your brain's reward system is constantly being triggered to encourage constant spending. Join us for a discussion with Credit Counsellor Charlie Kovacs, who exposes the risks tied to retailer financing, debunks the myth of discount savings, and explores the real impact these marketing 'trick

551 – Value of The Canadian Dollar & Its Impact on Your Dinner Bill Mar 22, 2025 30:52 Did you know the price of your dinner tonight might be tied to decisions made in the US? Doug and Ted explain the surprising impact of the Canadian dollar on your everyday spending. They'll break down how this affects your wallet, from filling up your gas tank to putting food on the table. Discover the surprising upsides and downsides of our tightly linked economy, and as always, arm yourself wit

550 – How to Build Wealth While Managing Debt: A Practical Guide Mar 15, 2025 29:59 Debt often gets a bad rap, but what if you could use it to your advantage? This episode unlocks the power of strategic debt! Learn to leverage other people's money, distinguish between good and bad debt, and manage borrowing effectively. Doug and Ted, co-founders of Hoyes Michalos, provide practical strategies for building wealth with debt, including a look at crypto's role. Learn how to make deb

549 – Can You Walk Away from a Pre-Construction Deal? What You Need to Know Mar 8, 2025 30:29 Alarming trend: Canadians are finding themselves unable to follow through on pre-con real estate purchases. So, what happens if you can't close on a pre-construction real estate deal? In this episode, the co-founders of Hoyes Michalos break down the reality of pre-construction deals in Canada, including assignment sales, how rising rates and blanket appraisals impact your deal, and what happens if

548 – Credit Card Habits Leading to Debt? Expert Advice for Canadians Mar 1, 2025 30:39 Canadian credit card debt is surging! Many people are feeling the squeeze of rising costs, stagnant wages, and mounting unsecured debt. This crucial episode offers timely financial guidance on improving credit card habits (which you may not realize are hurting your finances!) and effectively managing debt. FREE Credit Rebuilding Course (0:00) – Credit Cards Are Now the Norm, Should They Be? (

547 – Financial Freedom & Zero Debt: What You Need to Know Feb 22, 2025 30:31 Is having zero debt the key to financial freedom, or could it hold you back? Expert Licensed Insolvency Trustees Doug and Ted explore the pros and cons of being completely debt-free, from psychological and financial benefits to the impact on your credit score and long-term opportunities. (0:00) – Introduction: What does financial independence really mean? (5:00) – Is Zero Debt a good goal for e

546 – Canadian Debt Is Surging – Concerning Trends from Joe Debtor 2024 Feb 15, 2025 31:22 Canadians are being crushed by debt—and we have the data to prove it. In this exclusive episode, Hoyes Michalos co-founders Doug Hoyes and Ted Michalos break down the findings from the 2024 Joe Debtor study, Canada's leading consumer insolvency report. Our research reveals how rising debt levels are impacting Canadians like never before. From millennials facing record-high debt to homeowners ru

545 – Why We Overspend and How to Break Bad Money Habits Feb 8, 2025 29:46 Why is it so hard to break bad money habits? Doug Hoyes and Ted Michalos dig into the psychology of impulse buying, the powerful influence of marketing on buying decisions, and the easy-purchase pathway spending cycle that keeps so many people stuck. They share personal anecdotes from decades in the insolvency industry and provide real-world strategies for building sustainable financial habits.

544 – The Truth About Loans Impacting Your Credit Score Feb 1, 2025 30:09 More credit means a higher score, right? Not exactly. #debtfreein30 Many assume more loans and higher credit means a higher score, but the reality is more complex. Doug Hoyes and Ted Michalos break down how multiple loans impact your credit score and share expert advice on when accessing more credit makes sense—and when it doesn't. (0:00) – What impacts your credit score? (5:35) – How important

543 – How to Avoid Debt Traps: Expert Tips for Canadians Jan 25, 2025 30:48 Can you identify and escape the pitfalls of debt traps? Learn from the co-founders of Hoyes Michalos how marketing and psychology fuel debt cycles. Spot the warning signs of financial trouble—from payday loans to student debt—and understand the emotional toll that debt can take. Plus, gain practical, proven strategies to break free from the cycle and achieve financial stability. (0:00) – What

542 – The Truth of Credit Card Rewards – They're Costing You Jan 18, 2025 29:34 Are credit card points and rewards as beneficial as they seem, or are they secretly costing you more than you realize? Doug Hoyes and Ted Michalos discuss the truths behind credit card reward systems, revealing how spending habits, annual fees, and high-interest cards may affect your financial health. Learn how credit card companies use your data, the psychology behind reward marketing, and whet

541 – A House Is Not an Investment If You Can't Afford It Jan 11, 2025 31:05 Real estate is often seen as the ultimate investment, but is it really? Doug and Ted discuss the financial realities of homeownership, from the hidden costs of maintenance and repairs to the risks of negative equity, pre-con agreements, and even becoming a landlord. This episode explains why a house may not always be the wealth-building asset it's made out to be—especially if it's beyond your f

540 – How the New Criminal Interest Rate Affects You Jan 4, 2025 31:48 It's crucial to stay informed about the recent revision to the criminal interest rate cap, effective January 1, 2025. How will Canadians be impacted? Doug and Ted provide insight into potential lending trends, emerging marketing tactics, unintended consequences, and how this change will impact the most vulnerable borrowers and secondary lenders in the future. Timestamps: (0:30) – Short expl

539 – Canadian Insolvency and Economic Trends in 2025 Jan 2, 2025 31:37 As 2024 comes to an end, Doug Hoyes and Ted Michalos revisit their past predictions to see what they nailed—and what surprised them. They cover everything from inflation and insolvency to unemployment and real estate and, using the latest economic data and trends, share their evidence-based predictions for 2025. Do you agree with Doug and Ted, or do you have a different perspective to share? Le

538 – Financial Caregiving: Taking Care of Aging Parents While Tackling Debt Dec 21, 2024 31:44 How do you balance financial well-being with the responsibility of supporting aging parents? This important episode tackles the complexities of financial caregiving, highlighting the challenges of the "sandwich generation"—those caring for both children and elderly parents—all while managing personal debt. Doug and Ted cover the pros and cons, from government benefits to taxes to practical step

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