Afleveringen
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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 concerns driving those hard-earned Canadian dollars.
(0:00) Defining Savings: More Than Just Money in the Bank
(2:20) Calculating Your Personal Savings Rate
(4:00) The History of Canadian Savings Rates: Trends and Insights
(8:45) Canadian Savings Today: Analyzing Current Rates
(11:00) Understanding Financial Vulnerability: Populations Struggling to Save in Canada
(16:00) What Canadians Are Saving For: Current Financial Priorities
(19:00) Setting Savings Goals: How Much Should You Aim to Save?
(24:00) Practical Tips for Easier Saving
(28:00) Debt vs. Savings: Prioritizing Your Financial Health4 Personal Finance Ratios That Measure Debt Risk
Debt Repayment Calculator
How To Deal With Debt in Retirement
Sign Up for the Debt Free Digest
FREE Credit Rebuilding Course
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personal guidance from a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions, strategies, or digital tools/apps discussed. -
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 familiar cons are evolving and, crucially, equip you with the knowledge you need to recognize the red flags and protect yourself online.
(0:00) The Rise of AI Scams
(2:00) The Growing Sophistication of Granny Scams
(5:45) How Scammers Obtain Your Personal Information: Protecting Your Data
(6:45) The Pig Butchering Scam: Understanding This Long-Term Financial Con
(10:20) AI-Powered: How Technology Targets You
(11:40) Recognizing Scam Red Flags: What to Do If You Suspect Fraud
(16:30) Avoiding False Government Notices: Spotting Official-Looking Scams
(21:00) Identifying False Advertisements: Protecting Yourself from Misleading Offers
(23:30) Online Safety Tips: Protecting Your Finances
(29:10) The Double-Edged Sword of AI: Benefits and Risks in the Digital Age
Fraud Can Cause Debt Problems: Here’s How To Stay Protected
How To Find Legitimate Debt Consultants in Canada
Sign Up for the Debt Free DigestFREE Credit Rebuilding Course
Debt Repayment Calculator
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personal guidance from a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions, strategies, or digital tools/apps discussed. -
Zijn er afleveringen die ontbreken?
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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 power of habit stacking, mind mapping, "body-doubling" (hello, budget buddy!), and how tech can be a tool for embracing simplicity. Plus, we'll discuss guilt-free spending and why it's okay to invest in what truly supports you.
Tune in for actionable advice and a fresh perspective on navigating your finances!
(0:00) - Understanding Neurodivergence: Impact & Why It Matters
(4:45) - The Impact of Executive Dysfunction on Debt Management
(7:00) - Strategies for Reducing Decision Fatigue in Finances
(9:00) - Building Low-Effort Financial Habits with Habit Stacking
(10:45) - How Time Blindness Can Affect Your Financial Planning
(12:50) - Using Mind Mapping for a Visual Approach to Finances
(14:00) - The Power of Body Doubling: Finding Your Budget Buddy
(15:30) - Reframing Your Perspective on Financial Management
(17:00) - Leveraging AI and Tech (or Simplicity) for Financial Success
(20:00) - Coping Strategies for Impulse Spending
(23:00) - Practical Financial Advice for Neurodivergent Individuals (and Everyone!)
(27:10) - The Importance of Guilt-Free Spending and Investing in Your Needs
Hoyes Michalos Effective Money Management Strategies
Explore Credit Card Debt Relief
Why We Overspend and How To Break Bad Money Habits
Sign Up for the Debt Free DigestFREE Credit Rebuilding Course
Debt Repayment Calculator
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized guidance from a qualified financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed. -
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 'tricks' have on your financial health.
(1:30) – The Modern-Day Shopping Channel: How Retailers Keep You Hooked
(4:00) – Live Shopping & Influencers: The New Age of Consumer Marketing
(7:45) – Dopamine & Shopping: How Social Media Fuels Impulse Buys
(14:00) – How Algorithms Are Designed to Make You Spend More
(15:10) – Buy Now, Pay Later: The Rise of Consumer Credit Debt
(17:00) – The Hidden Risks of Financing Through Retailers
(21:00) – The Gamification of Consumerism: How Retailers Turn Shopping into a Game
(23:30) – The Gamification of Credit: Why Your Debt Feels Manageable (But Isn't)
(25:00) – Credit Counsellor Charlie Kovacs Explains Why Discounts Don’t Save You Money
(29:00) – Everyone Is Selling Something: Recognizing the Marketing Tricks
Hoyes Michalos Effective Money Management Strategies
Explore Credit Card Debt Relief
Why We Overspend and How To Break Bad Money Habits
Sign Up for the Debt Free Digest
FREE Credit Rebuilding CourseDebt Repayment Calculator
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized guidance from a qualified financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed. -
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 with practical tips to manage your debt and build lasting financial security.
Tune in to understand the forces shaping your everyday spending!(0:00) – What’s happening with the Canadian dollar right now?
(3:30) – What makes the Canadian dollar rise and fall?
(5:00) – How interest rates affect the Canadian dollar
(7:45) – The “reserve” currency and maintaining buying power
(8:50) – How currency changes impact the average Canadian
(12:00) – How US food and gas prices affect Canadians
(14:00) – The pros and cons of connected economies
(20:00) – Why are so many things priced in US dollars?
(25:00) – The benefits of shopping Canadian
(27:30) – Strengthen your finances by managing debt
(29:00) – Practical tips to protect your money
Trump's 25% Tariffs: Financial Survival Guide for Canadians
Myths About Credit Card Debt in Canada
How to Eliminate Debt in Ontario
Sign Up for the Debt Free DigestFREE Credit Rebuilding Course
Debt Repayment Calculator
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized guidance from a qualified financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed. -
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 debt work for you, not against you.
(0:00) - Using Debt as a Wealth-Building Tool
(4:00) - Understanding Leverage and Margin: Risks and Rewards of Investing with Borrowed Money
(7:00) - Good Debt vs. Bad Debt: Identify the Difference
(15:45) - Building Wealth While in Debt, Is It Possible?
(17:30) - Opportunity Cost and Interest Rates
(20:00) - The Challenge of Paying Interest While Building Assets
(22:40) - Cryptocurrency and Debt: A Viable Investment Strategy?
(24:00) - Practical Debt Management Strategies for Wealth Growth
(26:30) - Strategic Borrowing: Using Debt for Investments?Myths About Credit Card Debt in Canada
How to Eliminate Debt in Ontario
Is Another Loan a Good Idea?
Sign Up for the Debt Free DigestFREE Credit Rebuilding Course
Debt Repayment Calculator
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized advice from a qualified financial advisor. Always consult with a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed. -
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 you can’t secure financing. They also explore the legal and financial consequences of “walking away” and whether solutions like a consumer proposal or bankruptcy might apply to your situation.
Walking Away From a Pre-Con Deal with Consumer Proposal
What To Do When You Can’t Close
The Real Problem with Pre-Con Deals by Doug Hoyes LinkedIn
(0:00) – What is a pre-construction deal in real estate?
(3:30) – What is an assignment sale?
(5:15) – Trends in Canadian pre-construction real estate deals
(8:00) – “Blanket appraisals” and why they matter
(11:45) – The financial and legal consequences of “walking away”
(13:00) – Timing issues and pre-con purchases
(14:00) – What happens if interest rates go up or down before your closing date?
(17:00) – When builders run into problems — how it affects you
(20:00) – Practical steps if you can’t close on your pre-construction home
(22:00) – Can a consumer proposal help you walk away from a pre-con deal?
(26:00) – Are you at risk of being sued by the builder?
(28:00) – Bankruptcy: when it becomes an option for pre-construction buyers
Sign Up for the Debt Free DigestFREE Credit Rebuilding Course
Debt Repayment Calculator
Debt To Income Ratio Calculator
Read the FULL JOE DEBTOR CONSUMER INSOLVENCY STUDY 2024
‘Debtasized’ Full Length Documentary – Free on YouTube HERE
Hoyes Michalos YouTube Channel
Hoyes Michalos Instagram
Hoyes Michalos Facebook
Hoyes Michalos TikTok
Hoyes Michalos Twitter (X)
Hoyes Michalos LinkedIn
Straight Talk on Your Money by Doug Hoyes
Find a Hoyes Michalos Office in Your Area Here
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized advice from a qualified financial advisor. Always consult with a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed. -
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?
(4:00) – What minimum purchase amount should you charge to credit?
(5:45) – The biggest problem with credit cards
(7:20) – Everyone knows about interest- why do people use credit regardless?
(9:00) – The positives of using credit cards
(11:00) – Paying off one credit card with another – pros and cons
(13:00) – Being “mindful” aka having a plan
(14:00) – Gaming the points system – travel points, buy now pay later,
(17:00) – Canadians are in hot water – the numbers of unsecured debt are up – prices are up and wages are not, credit cards are a survival tool
(19:00) – Is debit a better idea for better financial decisions?
(22:00) – Practical advice for better credit card management
(27:00) – Practical advice for when credit card debt is completely unmanageable
How to Pay Credit Cards5 Ways to Survive Without Credit Cards
Sign Up for the Debt Free Digest
Debt Repayment Calculator
Debt To Income Ratio Calculator
Read the FULL JOE DEBTOR CONSUMER INSOLVENCY STUDY 2024
‘Debtasized’ Full Length Documentary – Free on YouTube HERE
Hoyes Michalos YouTube Channel
Hoyes Michalos Instagram
Hoyes Michalos Facebook
Hoyes Michalos TikTok
Hoyes Michalos Twitter (X)
Hoyes Michalos LinkedIn
Straight Talk on Your Money by Doug Hoyes
Find a Hoyes Michalos Office in Your Area Here
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized advice from a qualified financial advisor. Always consult with a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed. -
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 everyone?
(6:15) – The benefits of being debt-free: Psychological and financial impacts
(10:25) – The downside of Zero Debt: Credit score considerations
(13:30) – The hidden cost of Zero Debt: Opportunity costs explained
(17:00) – The role of credit: Why access to credit matters
(19:00) – Debt as a financial tool: When and how to use it wisely
(23:00) – Forget budgeting—why you need a financial plan instead
(28:00) – Setting realistic financial goals for long-term success
Read the FULL JOE DEBTOR CONSUMER INSOLVENCY STUDY 2024
How Much Debt Does It Take To File Bankruptcy?
Debt Repayment Calculator
https://www.hoyes.com/debt-repayment-calculator/
Debt To Income Ratio Calculator
https://www.hoyes.com/debt-to-income-ratio-calculator/
FREE Credit Rebuilding Course
https://www.hoyes.com/blog/category/credit-repair/
‘Debtasized’ Full Length Documentary – Free on YouTube HERE
Sign Up for the Debt Free Digest
Hoyes Michalos YouTube Channel
Hoyes Michalos Instagram
Hoyes Michalos Facebook
Hoyes Michalos TikTok
Hoyes Michalos Twitter (X)
Hoyes Michalos LinkedIn
Straight Talk on Your Money by Doug Hoyes
Find a Hoyes Michalos Office in Your Area Here
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized advice from a qualified financial advisor. Always consult with a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed. -
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 running out of options, we analyze the trends, why they matter, and what the average insolvent Canadian looked like in 2024.
You won’t hear this anywhere else—tune in for expert insights from Canada’s leading Licensed Insolvency Trustees.
Read the FULL JOE DEBTOR CONSUMER INSOLVENCY STUDY 2024
(0:00) – Who is Hoyes Michalos? What is the Joe Debtor study?
(2:15) – Studies vs. Surveys, and understanding the term “Consumer Insolvencies”
(4:00) – Debt is Surging – even we’re shocked by the numbers
(8:10) – Why did Millennials have the most significant increases in debt?
(12:30) – The average monthly income of an insolvent individual in Canada
(14:30) – Income is rising, but Canadians are still struggling – here’s why
(17:00) – Home equity used to help people - why that’s no longer an option
(20:00) – Homeowners are increasingly in debt, and vehicle loans are a huge problem
(24:00) – Owing CRA: How taxes and interest rates hurt
(28:00) – Key questions to ask yourself and expert advice to help your finances
Debt Repayment Calculator
Debt To Income Ratio Calculator
FREE Credit Rebuilding Course
‘Debtasized’ Full Length Documentary – Free on YouTube HERE
Sign Up for the Debt Free Digest
Hoyes Michalos YouTube Channel
Hoyes Michalos Instagram
Hoyes Michalos Facebook
Hoyes Michalos TikTok
Hoyes Michalos Twitter (X)
Hoyes Michalos LinkedIn
Straight Talk on Your Money by Doug Hoyes
Find a Hoyes Michalos Office in Your Area Here
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized advice from a qualified financial advisor. Always consult with a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed. -
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.
(0:00) – Has Ted ever regretted an impulse buy?
(4:30) – Marketing tactics: how fear and urgency drive sales
(8:00) – Spending triggers: product placements and targeted ads
(11:00) – The Influencer Effect
(15:00) – Easy purchase pathways encourage overspending
(17:30) – Debt is normalized by society
(19:30) – Resisting change: people are creatures of habit
(21:00) – Practical tips to curb spending and build better habits
(23:30) – How reflection and mindfulness can change your financial future
Dealing With Debt When Living Paycheque to Paycheque
Needs vs. Wants – A Budget Should Balance Both
Break The Payday Loan Cycle
Debt Repayment Calculator
Debt To Income Ratio Calculator
FREE Credit Rebuilding Course
‘Debtasized’ Full Length Documentary – Free on YouTube
Sign Up for the Debt Free Digest
Hoyes Michalos YouTube Channel
Hoyes Michalos Instagram
Hoyes Michalos Facebook
Hoyes Michalos TikTok
Hoyes Michalos Twitter (X)
Hoyes Michalos LinkedIn
Straight Talk on Your Money by Doug Hoyes
Find a Hoyes Michalos Office in Your Area
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized advice from a qualified financial advisor. Always consult with a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed. -
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 is your credit score in Canada’s unique rating system?
(6:45) – Understanding credit utilization rate and debt-to-income ratio
(9:00) – What’s the difference between hard and soft inquiries?
(14:30) – The impact of credit history and canceling accounts
(16:30) – Why missed payments hurt more than you think
(17:40) – A fictional but realistic debt scenario
(24:20) – Why dealing with your debt should be your priority—and how to start
(26:00) – How to decide if taking out another loan is the right move
Credit Card Debt Consolidation in Canada - What You Need to Know
What is Credit History and How To Influence It
What To Do About Credit Card Debt in Collections
Debt Repayment Calculator
Debt To Income Ratio Calculator
FREE Credit Rebuilding Course
‘Debtasized’ Full Length Documentary – Free on YouTube HERE
Sign Up for the Debt Free Digest
Hoyes Michalos YouTube Channel
Hoyes Michalos Instagram
Hoyes Michalos Facebook
Hoyes Michalos TikTok
Hoyes Michalos Twitter (X)
Hoyes Michalos LinkedIn
Straight Talk on Your Money by Doug Hoyes
Find a Hoyes Michalos Office in Your Area Here
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized advice from a qualified financial advisor. Always consult with a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed. -
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 is a debt trap, and how does it work?
(3:30) – Inflation still stretching budgets
(4:30) – The student loan dilemma
(5:30) – Homeownership can be a debt trap
(7:15) – Utilization Rate – borrowing more than you can handle
(8:30) – Stress and the emotional toll of being trapped in debt
(11:00) – How a debt traps are created– the power of marketing and psychology
(21:20) – Warning signs you’re falling into a debt trap
(24:30) – Practical solutions to escape the cycle of debt
(27:45) – What’s really keeping you stuck in a debt trap
‘Debtasized’ Full Length Documentary – Free on YouTube HERE
Payday Loan Debt Relief in Ontario: Break the Cycle
Pros and Cons of Using Payday Loans in Emergencies
Does Debt Consolidation Impact My Credit Score
Debt Repayment Calculator
Debt To Income Ratio Calculator
FREE Credit Rebuilding Course
Sign Up for Our Newsletter HERE
Hoyes Michalos YouTube Channel
Hoyes Michalos Instagram
Hoyes Michalos Facebook
Hoyes Michalos TikTok
Hoyes Michalos Twitter (X)
Hoyes Michalos LinkedIn
Straight Talk on Your Money by Doug Hoyes
Find a Hoyes Michalos Office in Your Area Here
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized advice from a qualified financial advisor. Always consult with a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed. -
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 whether these points and rewards are worth it in the long run.
(0:50) – Have you changed your spending habits to earn credit card rewards?
(1:45) – The history of credit card rewards: How they started and why they’re popular.
(5:45) – What personal data do credit card companies collect from you?
(8:00) – How credit card companies market rewards and why we’re drawn to them.
(10:45) – The biggest downside of credit card rewards
(12:55) – Doug and Ted's advice: How many credit cards should you really have?
(14:30) – Why using high-interest cards can lead to risky financial situations.
(18:20) – How credit card usage affects your credit score: Tips to avoid negative impacts.
(22:30) – The overlooked cost of annual fees
(26:00) – The risk of losing your points during insolvency: Use them, or lose them.
(27:00) – Expert advice on credit card rewards
Learn more from Hoyes Michalos:
What Happens to Points If You Go Bankrupt?
Pros and Cons of Preapproved Limit Increase
Unpaid Credit Card Consequences
Debt Repayment Calculator
Debt To Income Ratio Calculator
FREE Credit Rebuilding Course
Sign Up for Our Newsletter HERE
https://www.hoyes.com/subscribe-newsletter/
Watch the Hoyes Michalos YouTube Channel
Hoyes Michalos Instagram
Hoyes Michalos Facebook
Hoyes Michalos TikTok
Hoyes Michalos Twitter (X)
Hoyes Michalos LinkedIn
Straight Talk on Your Money by Doug Hoyes
Find a Hoyes Michalos Office in Your Area Here
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized advice from a qualified financial advisor. Always consult with a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed. -
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 financial reach.
(2:00) – What exactly qualifies as an investment?
(3:45) – Liquidity and diversification: why they matter
(6:00) – Doug’s take: a house is a consumer good, not an investment
(10:00) – Why owning a home is often more expensive than renting
(13:30) – The forced savings argument: does it hold up?
(15:00) – Negative equity and the risks of market downturns
(16:10) – Preconstruction agreements and the challenges they could bring in 2025
(18:20) – The overlooked costs of maintenance and repairs
(24:15) – Forced holding: why homeownership limits your flexibility
(25:45) – Renting out your home doesn’t automatically make it a profitable investment
(27:20) – Ted’s perspective: is owning a house truly an investment?
Learn more from Hoyes Michalos:
What Happens If You Miss A Mortgage Payment?
Will A Second Mortgage Clean Up Your Debts?
What To Do If You Can’t Pay Deferred Mortgage Payments
Debt Repayment Calculator
Debt To Income Ratio Calculator
FREE Credit Rebuilding Course
Sign Up for Our Newsletter HERE
Hoyes Michalos YouTube Channel
Hoyes Michalos Instagram
Hoyes Michalos Facebook
Hoyes Michalos TikTok
Hoyes Michalos Twitter (X)
Hoyes Michalos LinkedIn
Straight Talk on Your Money by Doug Hoyes
Find a Hoyes Michalos Office in Your Area Here
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized advice from a qualified financial advisor. Always consult with a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed. -
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 explanation of the Criminal Interest Rate
(2:40) – What is changing, and who does it impact?
(3:30) – Payday Loans and Vulnerable Borrowers
(9:20) – “Net Charge Off Rate” a rationale for high interest
(12:30) – The “dubious speculation part of the show that is not based on fact”
(14:00) - Unintended consequences – predatory lenders pivoting
(18:30) – Secondary lenders diversifying product lines? To what?
(21:00) – Microloans, Insurance, Rent to Own, and more
(28:00) – Heads up for new marketing tactics – Buyer Beware
Learn more from Hoyes Michalos:Episode 491 of DFI30 (Thorough Background of Criminal Interest Rate)
Payday Loan in Collection? What To Do Next
Debt Repayment Calculator
Debt To Income Ratio Calculator
FREE Credit Rebuilding Course
Sign Up for Our Newsletter HERE
Hoyes Michalos YouTube Channel
Hoyes Michalos Instagram
Hoyes Michalos Facebook
Hoyes Michalos TikTok
Hoyes Michalos Twitter (X)
Hoyes Michalos LinkedIn
Straight Talk on Your Money by Doug Hoyes
Find a Hoyes Michalos Office in Your Area Here
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized advice from a qualified financial advisor. Always consult with a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed. -
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? Let us know in the comments!
Timestamps:(2:00) – Doug and Ted’s 2024 predictions on inflation
(6:00) – Insolvency trends and forecasts from 2024
(10:00) – Returning to pre-pandemic insolvency numbers and trending upward
(10:50) – Discussion on unemployment rates
(14:20) – A closer look at rising credit card debt
(15:15) – Real estate, homeownership, and pre-construction agreements
(19:00) – Is Canada in a recession? Examining GDP trends
(23:00) – Doug’s take: Why Canada is already in a recession
(24:00) – Predictions for 2025 in key economic areas
(26:00) – Wildcard topic: Should Canada be concerned about tariffs?
(27:00) – Insolvency Predictions for 2025
Learn more from Hoyes Michalos:
Debt Repayment Calculator
Debt To Income Ratio Calculator
FREE Credit Rebuilding Course
Sign Up for Our Newsletter HERE
Hoyes Michalos YouTube Channel
Hoyes Michalos Instagram
Hoyes Michalos Facebook
Hoyes Michalos TikTok
Hoyes Michalos Twitter (X)
Hoyes Michalos LinkedIn
Straight Talk on Your Money by Doug Hoyes
Find a Hoyes Michalos Office in Your Area Here
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized advice from a qualified financial advisor. Always consult with a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed. -
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 steps for initiating conversations with your parents; you’ll learn essential tools and strategies for confidently navigating financial caregiving.
Timestamps:(0:40) – What’s the Average Age for Insolvency?
(2:00) – Understanding the “Sandwich” Generation: Caught Between Debt and Aging Parents
(5:00) – Financial Caregiving Explained: What Does It Entail?
(8:00) – Should You Prioritize Paying Off Debt or Helping Your Parents?
(9:45) – Sidebar: Why Ted Hates Reverse Mortgages
(14:00) – Government and Community Benefits for Caregivers and Their Aging Parents
(16:00) – The Impacts and Downsides of Financial Caregiving
(19:20) – Why Filing Taxes Is Crucial for Caregivers
(22:30) – Making Tough Decisions on Behalf of Your Parents
(24:00) – Practical Advice: Preparing for Financial Caregiving
(28:00) – How to Start the Money Conversation with Your ParentsLearn more from Hoyes Michalos:
Cosigned Debt in a Consumer Proposal
Power of Attorney – Can I Deal With My Parents Debts?
Debt Repayment Calculator
Debt To Income Ratio Calculator
FREE Credit Rebuilding Course
Sign Up for Our Newsletter HERE
Hoyes Michalos YouTube Channel
Hoyes Michalos Instagram
Hoyes Michalos Facebook
Hoyes Michalos TikTok
Hoyes Michalos Twitter (X)
Hoyes Michalos LinkedIn
Straight Talk on Your Money by Doug Hoyes
Find a Hoyes Michalos Office in Your Area Here
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized advice from a qualified financial advisor. Always consult with a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed. -
Have you ever stopped to consider the real costs—and sacrifices—of borrowing someone else’s money?
Whether it’s a mortgage, car loan, or another form of financing, the hidden fees, penalties, and long-term credit impacts can quickly add up. Beyond the numbers, debt can bring stress, limit opportunities, and force tough choices in your personal and professional life.
Doug Hoyes and Ted Michalos provide expert insights to help you confidently navigate borrowing, avoid costly mistakes, and make decisions that protect your finances and peace of mind.
Timestamps:
(1:00) – Get Interested in Your Interest Rates
(3:25) – Understanding Origination Fees and Insurance Costs
(8:05) – Why Doug and Ted Recommend Paying on Time
(10:15) – Prepayment Penalties and Other “Hidden” Fees
(15:10) – Discretionary Spending or Needing to Borrow More
(17:10) – How Borrowing Impacts Your Credit Score
(19:30) – Debt Causes Stress and Limits Opportunities
(21:15) – Why Banks Encourage You to Finance
(24:00) – Practical Advice – How to Read Your Loan Contract
(26:50) – The Bottom Line: Calculating the Total Cost
(29:00) – Knowing When to Seek Professional Help
Learn more from Hoyes Michalos:
Debt Repayment Calculator
Debt To Income Ratio Calculator
Budgeting Course
Sign Up for Our Newsletter HERE
Smart Borrowing and Loan Management Tips
Hoyes Michalos YouTube Channel
Hoyes Michalos Instagram
Hoyes Michalos Facebook
Hoyes Michalos TikTok
Hoyes Michalos Twitter (X)
Hoyes Michalos LinkedIn
Straight Talk on Your Money by Doug Hoyes
Find a Hoyes Michalos Office in Your Area Here
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized advice from a qualified financial advisor. Always consult with a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed. -
Is the thought of maxed-out credit cards keeping you up at night?
This guide unpacks the pitfalls of credit card debt and offers clear strategies to break free from the cycle.Doug Hoyes and Ted Michalos discuss why your credit utilization rate matters, how many credit cards you should really have, the pros (but mostly cons) of opening new credit accounts, and the best options when you’re in a pinch.
(1:45) – What’s the problem with maxing out your credit cards?
(4:00) – How a credit card should be used (cash substitute vs. borrowing tool)
(5:00) – Credit limit, available credit, and utilization rate – what’s the difference?
(7:00) – Strategies for a maxed-out situation: Short-term fixes that work.
(8:45) – Taking out additional credit cards: A double-edged sword.
(11:15) – Should you have one or two credit cards? More?
(14:30) – Signs your financial situation is serious: When to seek help.
(16:15) – Practical advice for maxed-out cards
(19:30) – The downside of debt consolidation loans
(23:40) – Can calling your bank help? Exploring referral programs and renegotiation.
(27:00) – Consumer proposals explained: Why creditors accept less payment.
Learn more from Hoyes Michalos:
Budgeting Course
Sign Up for Our Newsletter HERE
Should You Pay Credit Card Debt With Another Credit Card?
Hoyes Michalos YouTube Channel
Hoyes Michalos Instagram
Hoyes Michalos Facebook
Hoyes Michalos TikTok
Hoyes Michalos Twitter (X)
Hoyes Michalos LinkedIn
Straight Talk on Your Money by Doug Hoyes
Find a Hoyes Michalos Office in Your Area Here
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized advice from a qualified financial advisor. Always consult with a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed. - Laat meer zien
