In this milestone episode, Doug Hoyes and Ted Michalos discuss the biggest myths about debt that refuse to die, the one behaviour that most reliably predicts insolvency, and explain what people who successfully recover from debt tend to do differently.

After working with more than 75,000 Canadians over nearly three decades, one theme stands out: debt problems rarely explode overnight. They compound quietly, and clarity, not optimism, is what changes the outcome.

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00:00 – What 27 years have taught us about debt 02:30 – Why most debt problems aren't caused by one crisis 05:10 – The biggest myth about debt 08:00 – The temporary mindset trap 11:00 – The one behaviour that predicts insolvency 14:20 – Why minimum payments are more dangerous than they look 17:00 – The "Still Current" illusion and credit scores 20:00 – Utilization normalization: being maxed out feels normal 23:00 – What's structurally different about debt in 2026 26:00 – What people who recover do differently 29:00 – Why debt is a math problem, not a motivation problem 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.