Each week Doug Hoyes talks to industry experts about debt, money, and personal finance. Don't be confused; listen as the guest experts cut through the jargon and share practical advice.
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.
12/7/24 • 31:38
Many Canadians have seasonal employment or variable income, making financial planning more complex. Doug Hoyes and Ted Michalos provide practical strategies for managing income fluctuations, saving effectively, dealing with debt, and handling taxes during off-seasons. This episode is a must-listen for anyone navigating seasonal employment or variable income. Timestamps: (2:00) – The Seasonality of Jobs: Challenges for Canadian workers (4:00) – Saving Money: Why it’s easier said than done (6:45) – Financial Planning: Why every seasonal worker needs a plan (8:50) – E.I. Eligibility in Canada: Can you qualify during the off-season? (10:00) – Emergency Funds: Essential for seasonal employment stability (12:15) – Boosting Income: ways to earn extra during off-seasons. (15:20) – Strategic Use of Credit Cards (16:30) – Pay Off Debt or Invest? How to prioritize your money (19:00) – Smart Savings: Where to put your money (22:00) – Taxes for Seasonal and Self-Employed Canadians: What to know (25:00) – Staying Flexible: Preparing for life’s financial uncertainties Learn more from Hoyes Michalos: Managing Money on a Variable Income First-time Home Buyer Podcast 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.
11/30/24 • 30:39
Struggling to stay motivated while repaying debt? You're not alone! Charlie Kovacs, BIA Insolvency Counselor with Hoyes Michalos, joins Debt Free in 30 to share practical strategies to help you stay focused, celebrate small victories, and shift your mindset from guilt to empowerment. Whether juggling student loans, tackling "life quakes," or just figuring out how to prioritize debt, this episode offers expert advice to keep you on track. Sign up for the monthly Debt Free Digest HERE Hoyes Michalos Instagram Hoyes Michalos Facebook Hoyes Michalos TikTok Hoyes Michalos Twitter (X) Hoyes Michalos LinkedIn Credit Rebuilding Course Timestamps (2:50) – Is Tracking Progress Essential for Debt Repayment? (4:30) – The Power of Small, Daily Financial Decisions (5:40) – How Often Should You Review Your Progress? (6:40) – Celebrating Wins: The Role of Little Rewards (8:30) – Ontario Student Loans: Current Trends (10:15) – Prioritizing Debt: Revolving vs. Installment Loans (11:20) – Life Quakes: Handling Major Financial Disruptions (15:30) – How a Financial Professional Can Transform Your Debt Journey (18:20) – Support Systems: Friends and Family's Impact on Motivation (20:50) – Shifting Your Financial Mindset (25:00) – Your Emergency Fund’s Purpose (28:30) – Practical Advice for Tracking Progress Should I Pay Off a Credit Card with a Credit Card? Can You Be Forced into Involuntary Bankruptcy? Straight Talk on Your Money by Doug Hoyes Hoyes Michalos Blog 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.
11/23/24 • 32:45
If you’re a homeowner in Canada, you can’t miss this episode! Canadian homeowners are increasingly facing the tough reality of missed payments and rising financial pressures. Licensed Insolvency Trustee Scott Terrio joins Debt Free in 30 to unpack the potential warning signs of mortgage trouble, troubleshoot possible solutions, and provides guidance on how to handle worst-case scenarios. Timestamps: (1:25) – Canada is at the beginning of a mortgage crisis (3:50) – Early warning signs of potential mortgage struggles (8:30) – What to do if you think you might miss a payment (11:00) – Mortgage deferral programs: How they work (12:40) – Refinancing or modification of your mortgage (15:00) – HELOCs (Home Equity Line of Credit) (17:15) – Selling your house: An extreme or smart option? (23:15) – If you miss one payment what exactly happens? (25:45) – Consequences of missing multiple payments (27:45) – Worst-case scenario: How it unfolds (28:55) – Can you buy a home again if you lose your current one? (32:30) – Why an insolvency proceeding might be a good idea We release new content every weekday! Follow our socials for funny podcast clips, money management tips, Q+A, and more! Hoyes Michalos Instagram Hoyes Michalos Facebook Hoyes Michalos TikTok Hoyes Michalos Twitter (X) Hoyes Michalos LinkedIn Sign Up for Our Newsletter HERE Credit Rebuilding Course What Happens If You Miss a Mortgage Payment? 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.
11/16/24 • 36:39
How do you know if you're financially fit? Doug Hoyes and Ted Michalos break down the essentials of financial "fitness", covering the importance (or unimportance) of positive net worth, stable cash flow, emergency funds, retirement planning, life insurance, budgeting, and more. This episode is packed with expert insights to help you evaluate your financial health and make informed decisions for a financially “fit” future. Timestamps: (0:45) – Ted Michalos on Financial Literacy Month (2:00) – What does it mean to be financially "fit"? (3:35) – Defining positive net worth and positive cash flow, which is more important? (7:30) – Example of a cash flow analysis (9:10) – The importance of an emergency fund (do you need one?) (12:00) – Is a retirement plan essential? (14:30) – Financial jargon sounds complex – Doug and Ted keep it practical (16:00) – Do you need a budget or any financial plan at all? (21:30) – Setting a savings goal: Why it matters (24:30) – Life insurance and financial security (25:00) – Final financial literacy advice from Doug and Ted We release new content every weekday! Follow our socials for funny podcast clips, money management tips, Q+A, and more! Hoyes Michalos InstagramHoyes Michalos Facebook Hoyes Michalos TikTok Hoyes Michalos Twitter (X) Hoyes Michalos LinkedIn Episode Links Why Budgets Fail and How to Succeed Straight Talk on Your Money by Doug Hoyes Hoyes Michalos Blog 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.
11/9/24 • 30:17
Ready to break all the budgeting rules? This episode is a lively debate that flips the script on traditional money management. Doug Hoyes isn’t holding back on his opinions about the Government of Canada’s “Financial Literacy Month,” challenging its effectiveness and taking a skeptical eye to the budgeting advice we’ve all heard before. Maureen and Doug discuss outdated budgeting norms, explore innovative approaches, and provide expert-backed tips for rethinking your money strategies. Join the conversation! Comment and let us know whose approach you more strongly align with—or maybe you have your own budgeting philosophy to share? Timestamps: (1:00) – Why “Financial Literacy Month” might be missing the mark (2:30) – The truth about budgeting: why it often doesn’t work (5:35) – A breakdown of popular budgeting styles… and why Doug thinks they fail (10:50) – Pre-budget essentials: what you need to do before creating a budget (16:00) – The pitfalls of old-school budgeting and how to revamp it (19:00) – Zero-Based Budgeting vs. its polar opposite: which works best? (23:30) – When budgets spiral out of control and what you can do about it (27:00) – Real-world money management advice from top experts (30:20) – Are you on Team Doug or Team Maureen? Share your budgeting philosophy! Episode Links: Why Budgeting is A Bad Idea 7 Reasons Budgets Fail Straight Talk on Your Money by Doug Hoyes Hoyes Michalos Free Money Management Resources Find a Hoyes Michalos Office in Your Area Here We release new content every weekday! Follow our socials for funny podcast clips, money management tips, Q+A, and more! Hoyes Michalos InstagramHoyes Michalos Facebook Hoyes Michalos TikTokHoyes Michalos Twitter (X)Hoyes Michalos LinkedIn 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.
11/2/24 • 33:09
How much do you really know about the impact of credit cards on your credit score? Doug Hoyes and Ted Michalos bust common myths and reveal the true influence of credit cards on your financial health. Learn how credit scores work, get expert tips on managing your credit responsibly, and explore strategies to improve your credit standing. Whether you're new to building credit or refining your approach, these actionable insights will empower you to make smarter financial decisions. Timestamps: (1:00) – What’s more important than a credit score? (6:00) – Breaking down the algorithm behind your credit score (10:30) – Credit vs. Debt: Understanding utilization rates (13:30) – Soft vs. hard credit inquiries—what you need to know (15:20) – The right way to manage your credit card (18:00) – Payment history is more important than you think (21:00) – Financial stability tips (24:00) – When should you actually check your credit score? (27:30) – Should you use credit cards to build credit? Final Answer Episode Links DEBTASIZED Documentary What is Credit History? What is Revolving Credit? How Long Does it Take to Get Credit Back After Bankruptcy? Straight Talk on Your Money by Doug Hoyes Hoyes Michalos YouTube Hoyes Michalos Blog Find a Hoyes Michalos Office in Your Area Here We release new content every weekday! Follow our socials for funny podcast clips, money management tips, Q+A, and more! Hoyes Michalos Instagram Hoyes Michalos Facebook Hoyes Michalos TikTokHoyes Michalos Twitter (X)Hoyes Michalos LinkedIn 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.
10/26/24 • 30:43
Is all debt bad, or can borrowing sometimes be a smart financial move? Doug Hoyes and Ted Michalos discuss debt’s dual nature as both a financial tool and a potential burden. They break down the differences between "good debt" and "bad debt," providing clear advice on assessing what's manageable, when taking on new debt might be a smart move, and how to avoid common pitfalls. Tune in for actionable insights on leveraging debt without letting it control your financial future! Timestamps: (0:00) – Conventional advice on “good debt” and “bad debt” (4:30) – Understanding your Debt-to-Income Ratio (DTI) (6:00) – Can you afford the payment? Key considerations (10:45) – Warning signs you have too much debt: What to watch out for (19:40) – Managing your Credit Utilization Rate (21:50) – Feeling stressed about debt? You have too much. (23:30) – How to assess the risks of taking on new debt (26:00) – Debt as a financial tool: Pros and cons (27:30) – Strategies for dealing with financial distress caused by debt We release new content every weekday! Follow our socials for funny podcast clips, money management tips, Q+A, and more! Hoyes Michalos Instagram Hoyes Michalos Facebook Hoyes Michalos TikTok Hoyes Michalos Twitter (X)Hoyes Michalos LinkedIn Hoyes Michalos YouTube Debt Free in 30 YouTube Resources: Straight Talk on Your Money https://www.hoyes.com/straight-talk/ Hoyes Michalos Blog Doug Hoyes on X 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.
10/19/24 • 29:45
Back by popular demand: Canadian credit collector Blair DeMarco Wettlaufer! Even if you’re not currently dealing with prohibited debt collectors, this eye-opening episode is captivating and informative. Learn about your rights as a Canadian consumer, the tactics some creditors use to pressure debtors, and how to protect yourself from unethical and illegal debt collection practices. Covering key topics such as re-aged debt, prohibited collection methods, and how technology is transforming the debt collection industry. Whether you’re managing debt or simply want to be informed, this episode provides essential knowledge to help safeguard your financial future. Timestamps: (0:00) - Introduction of Blair DeMarco Wettlaufer from Kingston Data and Credit (1:10) - Provincial differences in debt collection laws (2:25) - Why should creditors follow the rules? (5:15) - Common unethical creditor tactics (6:40) - Re-aged debt: What it is and how to avoid it (11:10) - Tips on making arrangements with creditors (17:25) - Predictive dialers and the impact of new technology (23:55) - Challenges with email communication in debt collection (27:45) - Are you talking to an AI collector without realizing it? (29:55) – Behind the curtain of prohibited practices in debt collection We release new content every weekday! Follow our socials for funny podcast clips, money management tips, Q+A’s, and more! Hoyes Michalos Instagram Hoyes Michalos Facebook Hoyes Michalos TikTokHoyes Michalos Twitter (X)Hoyes Michalos LinkedIn Resources: Straight from the Horse’s Mouth - Things Collection Agents Can and Cannot Do With The Credit Bureaus Your Top Debt Collections Questions Answered! Navigating Debt Collectors: Practical Advice Hoyes Michalos YouTube Hoyes Michalos Blog Doug Hoyes on X 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.
10/12/24 • 34:25
A loved one can leave assets in their will, but what about debts? Can you inherit debt? What makes you legally responsible for debt, and what should you do if creditors come calling? Doug Hoyes and Ted Michalos tackle common concerns about a sensitive topic with a touch of lighthearted fun. They discuss joint accounts and credit cards, the role of executors, and life insurance paying off mortgages. They break down what happens to debt after death in Canada and offer important advice for seniors and families planning their financial futures. Whether you're an executor, a spouse with joint accounts, or just curious, this episode provides clear (and candid) answers and essential insights for Canadians. Timestamps: (0:00) Creditors Calling About a Loved One’s Debts (2:30) Joint Credit Cards and Supplementary Credit Cards (5:30) Estates and Executors (8:10) Can You Go Bankrupt After Death? (9:00) Can You File a Consumer Proposal for a Deceased Person? (9:50) Key Responsibilities of an Executor When Managing Debt (11:00) Should You Have a Joint Account with Your Spouse (or Anyone Else)? (14:10) Using Life Insurance to Pay Off Mortgages: What You Need to Know (17:00) Planning for the Future: Family Conversations About Debt (19:00) Advice for Seniors: What Happens to Your Debts After Death? (26:00) The Final Answer: Can You Inherit Debt in Canada? Follow us: Hoyes Michalos Instagram Hoyes Michalos Facebook Hoyes Michalos TikTokHoyes Michalos Twitter (X)Hoyes Michalos LinkedIn Resources: What Happens to Debt When You Die in Canada Hoyes Michalos YouTube Hoyes Michalos Blog Doug Hoyes on X 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.
10/5/24 • 30:09
Is credit repair a scam? Learn the truth from experts about repairing damaged credit, understanding credit scores, and managing debt. Doug Hoyes and Ted Michalos explain essential topics like credit utilization rate, responsible credit card usage, and when you should worry about your credit score. Whether you’re working to rebuild your credit or aiming to maintain a healthy score, this episode is full of practical advice on credit and debt management for all Canadians. Timestamps: (0:00) Humorous introduction: Doug Hoyes and Ted Michalos on modern credit (2:00) Should you worry about your credit score? (5:10) Credit utilization rate and access to debt (7:40) How many credit cards are too many? (11:10) Can items be removed from your credit report? (12:25) How often should you check your credit report? (14:00) Practical strategies for reducing debt (17:10) What is a consumer proposal? How does it impact your credit score? (20:00) Why saving cash is more important than you think (21:50) The importance of paying your bills on time (24:00) The “223 Rule” explained (26:00) Two new “trade lines” and additional credit repair tips Subscribe to the DFI30 Newsletter here (only one email per month!) Follow: Hoyes Michalos Instagram Hoyes Michalos Facebook Hoyes Michalos TikTokHoyes Michalos Twitter (X)Hoyes Michalos LinkedIn Episode Resources: Rules to Master Your Credit with Richard Moxley Why Are Credit Reports Always Wrong? Fixing Errors w/ Richard Moxley “The Credit Game: Play To Win – Richard Moxley” Straight Talk On Your Money – Doug Hoyes Hoyes Michalos YouTube Hoyes Michalos Blog Doug Hoyes on X 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.
9/28/24 • 30:28
Does it feel impossible to make any progress with your debt? Getting out of debt is a battle against high interest rates, financial traps like payday loans, and the emotional toll that debt takes on your mental health. Doug Hoyes and Ted Michalos explore the hidden factors that keep you stuck, from the predatory lending practices that pile on to your balance to the family pressures and stress that make it harder to break free. Learn how to stop the cycle of borrowing and why ignoring debt only makes things worse. Discover the tools available to help you, including guidance from licensed insolvency trustees who will review all the options available to you and your unique financial situation. You can get out of debt! 🎧 Subscribe to the Debt Free in 30 Podcast, hit the notification bell 🔔, and follow us on social media for actionable expert advice. Timestamps: (0:00) Introduction: Debt is more common than you think (2:00) How debt accumulates over time (3:50) The math of debt: Interest rates (6:05) Predatory lending and the danger of payday loans (8:10) Why a consolidation loan isn’t a simple fix for everyone (12:00) Family pressures and their impact on your debt decisions (13:55) Mental health struggles: Why many ignore their debt problems (15:30) Debt fatigue: What it is and how it affects your motivation (16:50) What happens when you ignore your debt and where to turn for help (20:25) Step 1: How to begin tackling your debt (25:25) Professional help: Realizing when your debt is too much (28:00) The role of a Licensed Insolvency Trustee and exploring your options Follow: Hoyes Michalos InstagramHoyes Michalos Facebook Hoyes Michalos TikTokHoyes Michalos Twitter (X)Hoyes Michalos LinkedIn Resources: Hoyes Michalos YouTube Hoyes Michalos Blog Doug Hoyes on X Find a Hoyes Michalos Office in Your Area Here DEBTASIZED DOCUMENTARY 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.
9/21/24 • 32:12
Thinking about starting a side hustle or going out on your own? Whether you're a seasoned entrepreneur or a first-timer, this insightful episode with author and business expert David Barnett is packed with valuable advice. David returns to Debt Free in 30 to delve into starting or buying a business out of necessity. Discussing the importance of market research—when it’s needed and not—along with creative strategies for securing funding when resources are scarce. He also provides practical guidance on starting with limited or no capital, and the types of businesses that align with your abilities, financial situation, and more. Timestamps: (0:00) Introduction to David Barnett: Business Broker, Consultant, and Entrepreneur (3:50) Excerpt from David’s Book: Why People Start Businesses Out of Necessity (5:25) Choosing the Right Business When You Have to Start One (6:40) Effectuation: Starting a Business Based on What You Can Do (10:00) Conducting Market Research for Your Business Idea (12:00) Starting a Business with No Money: Is It Possible? (16:50) Top Tips for Launching a Business Without Capital (19:50) Exploring Funding Sources for Small Businesses (21:20) Side Hustles While Keeping Your Day Job (22:30) Deciding Whether to Buy or Start a Business (26:40) Understanding Bank Lending Motives for Business Loans (29:30) The Importance of Community Support in Business 🎧 Subscribe to the Debt Free in 30 Podcast, hit the notification bell 🔔, and follow us on social media for actionable expert advice Hoyes Michalos Instagram Hoyes Michalos Facebook Hoyes Michalos TikTokHoyes Michalos Twitter (X)Hoyes Michalos LinkedIn Episode Resources: David Barnett YouTube Hoyes Michalos YouTube David’s New Book: “Starting or Buying a Business” David Barnett’s Website David’s Online Business Course Hoyes Michalos Blog 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.
9/14/24 • 34:11
Welcome to Season 11, unofficially deemed our *practical* era. Are your expenses outpacing your income? With inflation rising and wages lagging, many Canadians are feeling financial strain. Doug Hoyes and Ted Michalos discuss why government stats might not tell the whole story, why lowering interest rates won’t solve everything, and share practical advice for anyone struggling to keep up with debt. Timestamps: (0:00) Spending More, Not Making More? Hilarious Season 11 Premier with Doug Hoyes and Ted Michalos (1:00) How Different Groups Have Fared from 2019 to Now (3:00) Discrepancies in Government Stats: Inflation vs. Wage Growth (4:50) How Has Everyone Been Coping with Rising Prices and Stagnant Wages? (8:10) Looking Ahead: Why Falling Behind Might Be Inevitable for Some (9:20) Bank of Canada Rate Cuts: Why They Won't Make a Big Impact (10:28) The Reality of Recession: Focusing on the Most Vulnerable (13:10) The Pitfalls of Side Gigs and Increasing Income (14:50) Strategies to Decrease Expenses (17:22) Mindset Matters: Breaking Out of Unhelpful Financial Habits (19:15) The Future of Debt Free in 30: What to Expect Master Your Money! Subscribe to the Debt Free in 30 podcast, enable notifications, and follow us on socials for practical expert advice and engaging content: Watch: Debt Free in 30 YouTube Follow: Hoyes Michalos InstagramHoyes Michalos Facebook Hoyes Michalos TikTokHoyes Michalos Twitter (X)Hoyes Michalos LinkedIn Resources:“Joe Debtor” Hoyes Michalos Annual Bankruptcy StudyRising Interest Rates and Debt – Current Rates Tips to Avoid Debt Inflation is Driving Up Credit Card Usage What To Do? Advice for Overwhelming Debt 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 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.
9/7/24 • 24:13
Pros and Cons of Budgeting: What Works, What Doesn't, and What to Do Instead | Debt Free in 30 | Episode 522 Is budgeting the best way to manage your finances, or is there a more practical approach? Debt Free in 30’s Doug Hoyes discusses the pros and cons of budgeting, breaking down popular budgeting methods like the 50/30/20 rule and the practicality of saving 20% of your income. Explore why traditional budgets can often be overly simplistic, why it’s hard to start budgeting, and how to find a method that truly works for you. Doug shares his perspective on effectively managing money without being a "budget guy" and offers practical tips for those who struggle with budgeting. From understanding different budgeting styles to finding the right balance between debt repayment and saving, this season finale has everything you need to know to make budgeting work for you. Episode Timestamps: (0:00) Doug Hoyes Isn’t a “Budget Guy” (0:50) Maureen Explains the 50/30/20 Budget Concept (4:20) Is Traditional Budgeting Overly Simplistic? (5:50) Doug Reconsiders His Stance on the Value of Budgeting (6:45) Budgeting Based on Pay Cycle (9:50) Is Saving 20% of Your Income Realistic? A Breakdown of Saving vs. Debt Repayment (14:40) Annual Budgeting: Why It Can Be Helpful and Practical Tips (19:20) Consumer Proposal Budgeting Sessions: What to Expect (21:20) Overcoming Difficulties of Starting a Budget (22:10) Exploring Budgeting Styles (23:45) The Importance of Being Realistic in Budgeting and Making Tools Work for You Stay ahead of financial challenges with expert advice delivered straight to your device. Subscribe to Debt Free in 30, turn on notifications, and follow us on your favorite social channels for more entertaining and educational content. Watch: YouTube Listen: AppleSpotify PodbayDeezerAmazon Music Follow: Hoyes Michalos InstagramHoyes Michalos Facebook Hoyes Michalos TikTokHoyes Michalos Twitter (X)Hoyes Michalos LinkedIn Resources:“Joe Debtor” Hoyes Michalos Annual Bankruptcy StudyZero Based Budgeting – Giving Every Dollar a Purpose 7 Reasons Budgets Fail and How to Succeed Budget Mistakes to Avoid (Youtube)Is the 50-30-20 Budget Rule Do-Able Today? 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.
8/31/24 • 25:59
In this eye-opening episode of Debt Free in 30, host Doug Hoyes dives into the world of debt collection with Blair DeMarco of Kingston Data and Credit. Together, they unravel the complexities of debt collection and help you understand your rights from initial contact to facing settlement offers or legal threats. Whether you're grappling with old debts or dealing with aggressive collectors, this episode equips you with the knowledge and strategies you need to protect your credit and manage your debt effectively. Timestamps and Titles: 00:00 - Introduction with Guest Blair DeMarco – How Collection Agencies Work 03:05 The Collection Process: Best Questions Answered 06:05 Understanding Your Rights: Statute of Limitations and Credit Reporting 12:10 Can You Be Sued by A Collection Agency? 15:00 Old Debt – How It’s Affecting Your Credit and What to Do About It 17:45 Insights on Handling Aggressive Debt Collectors 20:10 Consumer Proposals and Stay of Proceedings – Navigating Your Options 21:45 Debt Re-Aging – Creditors Can Reset the Clock 24:45 What to Say When Debt Collectors Call Stay ahead of financial challenges with expert advice delivered straight to your device. Subscribe and turn on notifications here: Watch: YouTube Listen: Apple Spotify Podbay Deezer Amazon Music Resources: Kingston Data and Credit Wage Garnishing: Know Your Rights Frozen Bank Accounts: What You Can Do Next Stop Debt Collection Calls for GOOD Special Thanks: Blair DeMarco Scott Terrio 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.
8/24/24 • 28:51
Explore essential financial topics and practical advice to overcome debt and achieve financial stability. If you’re struggling with high-interest debt, considering installment loans, or exploring mortgage refinancing, this compilation video offers valuable tips and actionable advice. Financial expert Doug Hoyes, co-founder of Hoyes Michalos, and his guests provide insights into effective debt management strategies, including the benefits and pitfalls of various financial tools and methods. Discover expert guidance on avoiding high-interest traps, practical steps for debt repayment, and effective strategies for reducing debt. Timestamps: 0:00 Understanding Debt: What You Need To Know 2:55 What Are Installment Loans for Credit Cards? 8:30 Expert Credit Card Advice: Secrets Banks Don’t Share 10:45 Variable vs. Fixed Mortgage Rates Explained 11:45 Should You Sell Your House to Eliminate Debt? 16:00 Consumer Proposals: Mortgages and Home Equity 18:40 Considering Refinancing Your Mortgage 20:40 Avoiding High-Interest Debt Traps 21:50 Debt Consolidation Loans: Problems and Pitfalls (feat. Scott Terrio) 24:20 Installment Loans and Payday Lender Risks (feat. Scott Terrio) 28:10 Effective Ways to Start Paying Off Debt - Snowball vs. Avalanche 33:10 What to Do When Debt Repayment Methods Fail Never miss a practical tip on improving your financial health. Subscribe below where you listen to podcasts: YouTube Apple Spotify Podbay Deezer Amazon Music Resources: Credit Card Debt Consolidation in Canada: What You Need to Know Dealing With Debt Living Paycheque to Paycheque Consumer Proposal FAQ’s Answered Hoyes, Michalos and Associates YouTube Channel How To Deal With Higher Interest Rates When Debt Consolidation Doesn’t Go As Planned Rising Interest Rates And Debt: What Can You Do? Special Thanks: Scott Terrio - Manager, Consumer Insolvency at Hoyes Michalos https://ca.linkedin.com/in/scott-terrio 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.
8/17/24 • 36:05
Can You Improve Your Credit Score Without Debt? | Debt Free In 30 | Ep 381. If you’re new to credit or have recently completed an insolvency filing, you may be thinking about ways to improve your credit score without taking on more debt. While debt is necessary to have in order to build your credit, there are some strategies to improve your credit score without taking on more debt. On today’s podcast, Maureen Parent, LIT, returns to discuss what makes up a credit score and how you can strategically improve it without a lot of additional debt. She also talks about the importance of utilization rates, how to build a long credit history, why cash savings and rent payments don’t count towards your score, and what to avoid so you don’t harm your credit. Tune in for lots of practical advice! Links: How to Check Your Credit Report for Free: https://www.hoyes.com/blog/how-to-check-your-credit-report/ Straight Talk on Your Money by Doug Hoyes: https://www.amazon.ca/Straight-Talk-Your-Money-Financial/dp/1988344034
8/10/24 • 32:05
Discover why chasing after more credit to achieve financial freedom may not be the most effective strategy, how it creates dependencies, and learn alternative paths to be more independent. Links: What To Do When You Have Too Much Debt to Handle: https://www.hoyes.com/blog/what-to-do-when-you-have-too-much-debt-to-handle/
8/3/24 • 20:58
You’ve got some extra cash. Should you pay down debt or invest it? In this episode, Doug and Ted discuss whether to use your extra money to tackle high-interest credit card debt, invest in an RRSP, or pay down a mortgage. They’ll also share their advice on what steps to take if you’re unable to pay off your debt—like turning to a consumer proposal. Tune in to learn how to effectively manage your finances and make the most of your money. Time Stamps: 00:00 Pay off debt on your credit card 02:53 Pay off debt or put money in an RRSP? 04:54 Pay off your mortgage or invest in an RRSP? 06:16 Investing may be better than paying off debt for first time home buyers 07:03 Investing makes sense when you inherit a lot of money 08:08 RISK 11:42 The smart way to pay off your debt 13:17 Is there an advantage to paying off a secured debt vs an unsecured debt? 16:19 If you can’t pay your debts you can file a consumer proposal 21:29 Receiving a lump sum of money during a consumer proposal 27:18 Final thoughts Related Links: Should You Pay Down Debt or Invest in RRSP? - https://www.hoyes.com/blog/pay-down-debt-or-invest-in-rrsp/ Who Can File a Consumer Proposal? - https://www.hoyes.com/blog/who-can-file-a-consumer-proposal/ Calculating Payments in a Consumer Proposal - https://www.hoyes.com/blog/calculating-payments-in-a-consumer-proposal-the-last-step/ How to File a Consumer Proposal in Ontario - https://www.hoyes.com/consumer-proposals/filing-consumer-proposal-process/ Consumer Proposal Help When Expecting Lump Sum Payments - https://www.hoyes.com/blog/consumer-proposal-when-lump-sum-payments-received/ Hidden cameras reveal how big banks are upselling you (Marketplace) by CBC - https://youtu.be/htm38oM5WFE?si=jNfQ-euLVoS-p7Sn Pay Down Debt or Invest Calculator - https://www.getsmarteraboutmoney.ca/calculators/pay-down-debt-or-invest-calculator/ Pay Down Your Mortgage, or Contribute to an RRSP? - https://www.taxtips.ca/rrsp/pay-down-mortgage-or-contribute-to-rrsp.htm Should You Ever Borrow Money to Invest? - https://youtu.be/XSTycxxd4Zc?si=KODHy7BZ28x52Qc4
7/27/24 • 29:45
Doug is joined by BIA Insolvency Counsellor Charlie Kovacs. They discuss banking in the digital age and cover topics such as service fees, chequing accounts, digital transactions, payment methods (digital vs. cheques), prepaid cards, credit scores, mobile payment options, how to manage digital finances, free tax filing, and finding the best bank rates online. If you're new to digital banking or eager to learn insider tips from finance experts, this episode is a must-listen! Time Stamps: 00:00 Introduction 01:25 How can you bank for free? 03:55 Using a mobile app for depositing cheques 05:14 Why do you have to open a new bank account if you file a consumer proposal or bankruptcy? 07:36 Cheques vs E-transfer 08:23 Debit Cards, Credit Cards, Prepaid Cards 14:57 What is the difference between a loadable credit card and secured credit card? 18:20 How do you keep track of your money digitally? 25:11 How do I file my taxes for free? 27:15 Shop around for the best rates 31:46 Final thoughts 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/
7/20/24 • 33:14
Selling your assets to pay off debt can be tricky. Depending on the asset, there may be unforeseen costs. Cashing in your savings may not completely deal with your debt problems. You may, in fact, have better options to eliminate your debt without losing your assets at all. Today we talk with Ted Michalos to explore how to pay off debt when you have assets. Time Stamps: 00:00 Introduction 02:43 Are all assets treated the same? 06:31 Cashing out your RRSP to pay debt 13:50 Should you file a consumer proposal or bankruptcy? 22:39 Are RESP’s protected in a bankruptcy? 25:43 Owning a house and filing bankruptcy 30:44 Final thoughts Related Links: Should I Sell My Assets to Pay Off Debt?- https://www.hoyes.com/blog/should-i-sell-my-assets-to-pay-off-debt/ Should I Use My RRSP to Pay Off Debt? – https://www.hoyes.com/blog/should-i-use-my-rrsp-to-pay-off-debt/ Who Can File a Consumer Proposal? - https://www.hoyes.com/blog/how-much-debt-does-it-take-to-file-bankruptcy-in-canada/ How Much Debt Does it Take to File Bankruptcy in Canada? - https://www.hoyes.com/blog/how-much-debt-does-it-take-to-file-bankruptcy-in-canada/ How Do I Get Out of Debt Without Losing My Home? - https://www.hoyes.com/blog/how-do-i-get-out-of-debt-without-losing-my-home/ Can’t Pay Your Mortgage? Options To Keep Your Home- https://www.hoyes.com/blog/cant-pay-your-mortgage-options-to-keep-your-house/ Complete Guide to Bankruptcy and Mortgage Foreclosure - https://www.hoyes.com/blog/complete-guide-to-bankruptcy-and-mortgage-foreclosure/
7/13/24 • 35:23
In this episode, Doug and Ted address the growing issue of payday loans among seniors, highlighting factors such as fixed incomes, rising living expenses, and predatory lending practices. They also discuss the financial strain of supporting adult children and the risks associated with co-signing loans. Tune in for practical advice on managing debt, avoiding scams targeting seniors, and navigating financial challenges in retirement. Time Stamps: 00:00 Introduction 01:48 Why are payday loans a problem if you are a senior? 04:03 How does a senior end up in debt? 05:45 Payday loans and rapid loans 08:10 Seniors supporting their adult children 10:38 Seniors carrying debt into retirement 11:54 Practical advice 12:30 How can you tell if your parents are in debt? 15:13 How to retire with no debt 21:12 Seniors and financial scams 22:55 Co-signing loans for friends and family 25:00 Should seniors’ cash in their RRSP to pay off debt? 27:15 Should seniors file a consumer proposal or bankruptcy? Related Links: Seniors Turning to Payday Loans a Scary Trend - https://www.hoyes.com/blog/seniors-turning-to-payday-loans-a-scary-trend/ Debt relief for seniors. What are your options? - https://www.hoyes.com/blog/debt-relief-for-seniors-what-are-your-options/ Do Senior Citizens Need to File Bankruptcy? - https://www.hoyes.com/blog/do-senior-citizens-need-to-file-bankruptcy/ Seniors – A Small Group Carrying High Risk Debt - https://www.hoyes.com/blog/seniors-a-small-group-carrying-high-risk-debt/ Seniors in Debt and Filing Bankruptcy - https://www.hoyes.com/press/joe-debtor/seniors-and-bankruptcy/ Managing Money in Your Golden Years - https://www.hoyes.com/newsletter/managing-money-in-your-golden-years/
7/6/24 • 30:33
In this episode, Doug and Ted discuss the challenges of credit card debt and the struggles the average person faces in today's economy. They touch on the impact of food and shelter inflation, the rise in credit card debt leading to insolvencies, and the decline in homeownership. They also share their predictions for the future, including whether inflation will continue to rise, and offer their advice on how to navigate these tough times. Time Stamps: 00:00 Introduction 00:44 Why did credit card debt drop during the pandemic? 03:05 Inflation rate for food 04:16 Shelter inflation 05:45 Credit card debt leads to insolvencies 08:15 How inflation and credit card debt affects everyone 14:35 Why are we not seeing homeowners? 16:52 Predictions 19:32 Practical advice Related Links: What to Know About Credit Cards So You Use Credit Wisely - https://www.hoyes.com/blog/what-to-know-about-credit-cards-so-you-use-credit-wisely/ Unpaid Credit Card Debt: What Are the Consequences? – https://www.hoyes.com/blog/unpaid-credit-card-debt-what-are-the-consequences/ Can Bankruptcy Stop a Tenant Eviction for Rent Arrears? - https://www.hoyes.com/blog/can-bankruptcy-stop-a-tenant-eviction-for-rent-arrears/ Can’t Pay Your Mortgage? Options To Keep Your House – https://www.hoyes.com/blog/cant-pay-your-mortgage-options-to-keep-your-house/ Renewing Your Mortgage as Rates Change -https://www.hoyes.com/blog/get-ready-for-higher-interest-rates/ 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 Statistics Canada. Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted - https://www150.statcan.gc.ca/n1/en/catalogue/1810000401 Bank of Canada, Monetary Aggregates https://www.bankofcanada.ca/rates/indicators/key-variables/monetary-aggregates/
6/29/24 • 29:22
In this episode, Doug and Maureen tackle a common financial question: should you build an emergency fund first or pay off debt? They explain why prioritizing an emergency fund can be important, even if you have debt. Learn how developing a savings habit can shield you from unexpected expenses and stop lenders from reducing your credit limit. They also discuss the risks of relying solely on debt for emergencies and how savings can keep you financially secure. Plus, they cover the benefits of paying off debt first, like saving on interest, boosting your credit score, and having the option to use credit for emergencies. Time Stamps: 00:00 Introduction 01:50 What do you use your emergency fund for? 02:59 Reasons why an emergency fund is more important than paying down debt 06:40 The habit of savings 11:11 How much does your emergency fund need to be? 15:20 Where should you put your emergency savings? 23:11 Why should you pay off debt first before saving for an emergency fund 29:12 Final thoughts Related Links: Emergency Fund Critical For Single Parents - https://www.hoyes.com/blog/emergency-fund- - critical-for-single-parents/ Why You Need an Emergency Fund - https://www.hoyes.com/blog/why-you-need-an-emergency-fund/ Emergency Fund or Credit Card Debt? What’s the Better Choice? - https://www.hoyes.com/blog/emergency-fund-or-credit-card-debt-whats-the-better-choice/ Which Debts Should You Pay First? - https://www.hoyes.com/blog/which-debts-should-you-pay-first/ Dr. Brad Klontz Financial Psychologist - https://www.bradklontz.com/
6/22/24 • 31:54
Doug is joined by first-time guest Dr. Saul Schwartz, Professor Emeritus at the School of Public Administration at Carleton University in Ottawa, who holds a Ph.D. in Economics. They discuss Dr. Schwartz's recent paper titled "Tilting the Playing Field Away from the Discharge of Debts: The Case of Consumer Proposals in Canada." Together, they discuss the rise of consumer proposals over bankruptcies in Canada, surplus income, the influence of licensed insolvency trustees and creditors, unregulated debt advisors, and potential solutions for low-income debtors. Time Stamps: 00:00 Introduction 03:35 Failure rate for consumer proposals 05:07 Why have consumer proposals overtaken bankruptcies in Canada? 08:33 Surplus income 12:12 Are the licensed insolvency trustees making more money on consumer proposals? 14:50 The creditors impact on a bankruptcy and consumer proposals 24:55 Unregulated debt advisors 33:39 Solutions for low-income debtors 44:22 Final thoughts Related Links: Dr. Saul Schwartz, Biography - https://carleton.ca/sppa/people/schwartz-saul/ The Adverse Effects of the Debt Advisory Marketplace on the Insolvency System - https://ised-isde.canada.ca/site/office-superintendent-bankruptcy/en/licensed-insolvency-trustees/adverse-effects-of-the-debt-advisory-marketplace-on-the-insolvency-system Consumer Proposal vs Personal Bankruptcy - https://www.hoyes.com/consumer-proposals/consumer-proposal-vs-bankruptcy/ Is a Consumer Proposal the same as a Bankruptcy? - https://www.hoyes.com/blog/consumer-proposal-bankruptcy/ Who Does What in a Bankruptcy and Consumer Proposal? - https://www.hoyes.com/blog/who-does-what-in-a-bankruptcy-and-consumer-proposal/ Bankruptcy & Your Credit Score - https://www.hoyes.com/personal-bankruptcy/effect-bankruptcy-credit-rating/ Consumer Proposal And Your Credit Rating - https://www.hoyes.com/consumer-proposals/consumer-proposal-affect-credit-rating/ Negotiating Consumer Proposals. What Your Creditors Expect - https://www.hoyes.com/blog/negotiating-consumer-proposals-what-your-creditors-are-expecting/ Avoid The Surplus Income Penalty With A Consumer Proposal -https://www.hoyes.com/blog/avoid-the-surplus-income-penalty-with-a-consumer-proposal/ Why Surplus Income Is an Important Part Of Your Debt Recovery - https://www.hoyes.com/blog/surplus-income-important-part-debt-recovery/ Surplus Income Bankruptcy Calculator - https://www.hoyes.com/personal-bankruptcy/cost-of-bankruptcy-fees/surplus-income-calculator/ Surplus Income Payments - https://www.hoyes.com/personal-bankruptcy/cost-of-bankruptcy-fees/surplus-income-payments/ Will the Federal Government Finally Put an End to Unregulated, Unlicensed Debt Consultants? - https://www.hoyes.com/blog/will-the-federal-government-finally-put-an-end-to-unregulated-unlicensed-debt-consultants/
6/15/24 • 48:00
Doug is joined by Kim Wilhelm, CEO of the Food Bank of Waterloo Region. Together, they talk about the various programs available to the local community in need of food. They discuss the impact cost of living has had on the food bank, issues of food inflation and food insecurity, changes in demand since the pandemic, ways to donate, and how those in need can access food. Time Stamps: 00:00 Introduction 01:30 Food assistance programs 02:41 Hunger count 06:56 Food insecurity 08:13 How has the demand for the food bank changed since the pandemic 11:14 Food inflation 14:13 How does the food bank receive food 16:01 How can you donate cash to the food bank 16:51 The impact cost of living has had on food donations 18:20 How can you receive food from the food bank 22:04 Food bank delivery program 22:40 Food bank eligibility and agency support 29:44 Food banks most needed food items 33:40 Conclusion Related Links: Hoyes Michalos is a proud partner of the Food Bank of Waterloo Region - https://www.hoyes.com/community-involvement/ Food Bank of Waterloo Region - https://www.thefoodbank.ca/ Food for Thought Blog - https://www.thefoodbank.ca/blog/ Volunteer at the Food Bank - www.thefoodbank.ca/volunteer Community Food Assistance Network- www.thefoodbank.ca/network/map Hunger in Waterloo Region - www.thefoodbank.ca/about/hunger/
6/8/24 • 35:07
Doug is joined by Technical Platform Cybersecurity Specialist, Eric Boivin from Flare. They discuss how cyber attacks can target your bank accounts and personal information, leading to money loss or identity theft. How weak cybersecurity can lead to debt, especially for those with student loans, mortgages, or credit card obligations. Eric shares practical advice on how to avoid fraud, choosing the best password using a password manager, and tools for watching financial accounts for suspicious activity. Time Stamps: 00:00 Introduction 04:46 How can you protect yourself against cyber attacks 10:00 Passwords 20:51 What can you do to protect yourself from a cyberattack? 31:32 Practical advice Related Links: Flare Website - https://flare.io/ Flare LinkedIn - https://www.linkedin.com/company/flare-io/ Bitwarden Password Manager - https://bitwarden.com/
5/25/24 • 34:52
Doug is joined by special guest Canadian economist and author, Jeff Rubin. Jeff discusses his latest book A Map of the New Normal: How Inflation, War, and Sanctions Will Change Your World Forever. They discuss inflation, sanctions and their impact on Canadian wages and employment. The conversation also touches on the Bank of Canada, bond yields, mortgages, interest rates, international trade, and the potential for a recession soon and closes with practical advice for Canadians. Time Stamps: 00:00 Introduction 03:45 Inflation 10:47 What does the central bank do to make inflation higher or lower? 19:33 Mortgages and Interest rates 24:15 Are we in a recession now? 26:07 Credit card debt 27:37 Predictions for the future of Canada’s economy Related Links: A Map of the New Normal: How Inflation, War, and Sanctions Will Change Your World Forever by Jeff Rubin on Amazon https://amzn.to/4a5dSQI The Expendables - How the Middle Class Got Screwed by Globalization by Jeff Rubin on Amazon https://amzn.to/3UKTorM Globalization, Inequality and Debt with Jeff Rubin – Episode 317 https://www.youtube.com/watch?v=-4vvcQqFuxU Jeff Rubin X https://twitter.com/JeffRubin
5/18/24 • 31:45
In this episode, Doug and Ted discuss the subtle ways debt accumulates over time, highlighting the unnoticed expenses that may lead you into debt. Have you ever calculated how much you spend monthly on subscriptions? Consider services like Amazon, Netflix, Disney, meal kits such as HelloFresh or Factor, pet and beauty subscriptions, car subscriptions, book clubs, and newspapers. These examples highlight how your money can slip away without you realizing it and potentially lead you toward bankruptcy. Tune in for practical advice on what to do to reduce these expenses, so you don’t find yourself in debt. Time Stamps: 00:00 Introduction 03:00 Set it and forget it method 04:03 Subscriptions 13:01 Why would a business want you to be on a subscription service? 16:49 Practical advice Related Links: The Marketing of Consumer Debt. Avoid The Traps - https://www.hoyes.com/blog/the-marketing-of-consumer-debt-avoid-the-traps/ 52 Tips to Avoid Debt - https://www.hoyes.com/blog/52-tips-avoid-debt/ 5 Debt Lessons Every Student Should Know - https://www.hoyes.com/blog/5-debt-lessons-every-student-should-know/ How To Minimize Debt as a Millennial - https://www.hoyes.com/blog/how-to-minimize-debt-as-a-millennial/ How to Minimize Debt as Your Family Grows - https://www.hoyes.com/blog/how-to-minimize-debt-as-your-family-grows/ How to Minimize Debt Before and After Retirement – https://www.hoyes.com/blog/how-to-minimize-debt-before-and-after-retirement/
5/11/24 • 30:28
