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 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.

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 Digest

FREE 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 Digest

FREE 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 Digest

FREE 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 Cards

5 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.