Debt Free in 30

By Doug Hoyes

Business Investing

What's Debt Free in 30 about?

Every week we take 30 minutes and talk to industry experts about debt, money and personal finance.

Download our free app to listen on your phone

LAST EPISODE

378 – When Debt Consolidat...

11.27.2021

A debt consolidation loan sounds like a great idea; instead of many payments on your debts each month, you only have one. But is consolidation always a good idea? And is it worth it if you’re paying more in interest ...

Debt Free in 30 episodes:

11.27.2021 378 – When Debt Consolidation Doesn’t Go As Planned – Tips + What to Avoid A debt consolidation loan sounds like a great idea; instead of many payments on your debts each month, you only have one. But is consolidation always a good idea? And is it worth it if you’re paying more in interest ...
11.20.2021 377 – What Will Small Businesses Face Post-Pandemic? According to a recent survey by the Canadian Federation of Business (CFIB), only 39% of small businesses in Canada are currently making the sales they consider normal. With ongoing pandemic restrictions and slow economic activity, will these small businesses recover? ...
11.13.2021 376 – Should You Help Your Child Get a Mortgage? with Ron Butler CIBC says the average down payment gift from a parent to their child has risen to a record high of $82,000. Is it wise to gift your child a down payment for their first home? Could there be repercussions and ...
11.06.2021 375 – Can You Get Burned by Prepaid Credit Cards? If you don’t qualify for a regular credit card or don’t want one, but still need to make credit purchases, a good option may be to use a prepaid credit card. But are prepaid cards entirely safe? Can you ever ...
10.30.2021 374 – How Should Financial Literacy Be Taught in School? Does a student in grade 9 with no income, savings or financial responsibilities really need to learn about down payments or how to calculate mortgage amortization schedules? Should we even be teaching these financial literacy concepts so early in life? ...
10.23.2021 373 – Your Top Collections Questions Answered by a Debt Collector! You asked. We answered. On today’s podcast guest Blair Demarco-Wettlaufer, CEO of Kingston Data and Credit (a collection agency), returns to answer your most pressing debt collection questions, like whether a collection agency can add interest to your debt or ...
10.16.2021 372 – Do You Even Need a Physical Bank Anymore? (Bricks & Mortar or Virtual Bank?) Do you need a physical bank? Or are you better off using a virtual bank instead? On today's podcast, guest Scott Terrio and host Doug Hoyes do a deep dive on what to consider when choosing banks, including some recommendations ...
10.09.2021 371 – Should You Ask Your Employer to Take More Tax Off Your Pay? Today's guest is Ian Martin, LIT and CPA who spent 6 years working at Canada Revenue Agency, so he knows a fair bit about income taxes. On today's podcast, Ian explains when it's in your best interest to have your ...
10.02.2021 370 – Should Car Insurance Rates Be Based on Your Credit Score? Should your credit score determine your car insurance rates? In New Brunswick they do. Are credit scores a good determinant of our driving habits? On today’s roundtable podcast, guests Scott Terrio, Maureen Parent, and host Doug Hoyes discuss the potential ...
09.25.2021 369 – Canadian vs. US Bankruptcy: Fresh Start vs. Harsh Penalty? We Canadians consume a lot of American media, so it’s possible that the ideas we have about bankruptcy are actually what happens to indebted individuals in the United States, and not the Canadian reality. On today’s podcast, Doug Hoyes and ...
09.18.2021 368 – Do You Have to Check Your Credit Score Every Day, Week, Month?! How often should you check your credit score? Is it wrong to obsess over credit scores? On today’s podcast, seasoned credit counsellor Diane Cunha and LIT (& lawyer!) Jennifer Kwon join Doug Hoyes in a roundtable discussion on whether or ...
09.11.2021 367 – Why Credit Card Debt Fell During the Pandemic, and Will it Rise Again? Canadians with the lowest credit scores paid down their credit cards the most since the pandemic started. Incredible, right? So, will this downward trend in debt continue? Or is this temporary because most of us are still at home and ...
09.04.2021 366 – What’s Coming Up for Season 8 of Debt Free in 30? Regular episodes resume next week, but for today, a quick overview of our plans for the eighth season of Debt Free in 30. This season we will focus on what you’ve told us you want the most: practical advice on ...
08.28.2021 365 – REBROADCAST – To Get Out of Debt You Need a System (Not Just a Goal) This episode first aired as episode number 227 in January, 2019, and even two and a half years later it continues to have a lot of downloads each week. We are taught to set a goal, and that’s a good ...
08.21.2021 364 – REBROADCAST: What Costco Can Teach Us About Making Financial Decisions Originally broadcast as episode 254 in July, 2019, today we rebroadcast our show about a wonderful, magical place called Costco. Is it a store? A finance company? Something else? And why does it matter? All that and more on today’s ...
08.14.2021 363 – REBROADCAST: CRA and CERB: What can you do if you owe CRA? It's August 2021, and many Canadians filed their 2020 taxes and discovered they owe taxes on the CERB they received last year, or they have to pay it all back because CRA said they weren't eligible. What can they do? ...
08.07.2021 362 – REBROADCAST - Can a Collection Agency Take Me to Court? This episode first aired two years ago and is one of our most watched videos on YouTube. Today Ted Michalos and Doug Hoyes return with updated information on how the COVID-19 lockdown impacted the Limitations Period, which impacts whether or ...
07.31.2021 361 – How Not to Get Scammed by a Debt Consultant Unlicensed and unregulated debt consultants prey on vulnerable, indebted Canadians. They say they can eliminate your debt, but all they really do is charge you a big fee and then refer you to a Licensed Insolvency Trustee to file a ...
07.24.2021 360 – How to Plan for Retirement on a Limited Income Experts say you should have 10 times your income saved to retire, but for many people that's a difficult target. How can you plan retirement on a limited income? Enter Jason Heath, Certified Financial Planner. On today’s podcast, Jason provides ...
07.17.2021 359 – The Unintended Consequences of Debt There are a lot of scenarios where borrowing makes sense: buying a home, a car, or paying for school, but there are unintended consequences. What if you face reduced income or something happens to the car and you’re stuck with ...
07.10.2021 358 – 6 Outdated Pieces of Financial Advice You Should Rethink Times have changed. Cost of living is higher than ever, and wages have barely kept up. Jobs are no longer as stable as they used to be, and good paying jobs don’t require 4-year degrees necessarily. Knowing this, why do ...
07.03.2021 357 – 16 Months Post-COVID: What’s Going on with Debt, Savings & What’s Next? We are now 16 months into the Coronavirus pandemic, and everything has changed. Canadians have increased their savings rate and put a dent in their unsecured debt obligations. But are these trends going to last? Will savings go back down ...
06.26.2021 356 – How To Invest If You Can Only Save $100 a Month If you have a little money, is it better to invest it or just leave it in a savings account? Enter Robert Brown, author of Wealthing Like Rabbits. On today’s podcast, Robert shares best practices for beginner investors. Robert reviews ...
06.19.2021 355 – Understanding ‘Free’ Money & Navigating RDSPs & RESPs with Alan Whitton Banks don't promote free products, and they are also very good at manipulating consumers into thinking they’re getting a ‘deal’ when they’re really paying a hefty price. So, how can you know when it’s truly free money and when it’s ...
06.12.2021 354 – Bad Funding Choices for Small Business with David Barnett The economic shutdown has been costly for small businesses. If you’re an owner concerned about the future health of your business, what should you do? Sell your business? What are your options if you have a lot of business debt? ...
06.05.2021 353 – Should You Get a HELOC, 2nd Mortgage or Do a Consumer Proposal To Deal with Debt? With the rapid rise in the real estate market, you may find yourself with significant equity in your home, yet you are also carrying high interest unsecured debt. OnSo, what should you do? On today’s podcast, guest Ted Michalos explains ...
05.29.2021 352 – The Minimum Payment Lie with Diane Cunha Making the minimum payment on your credit card can make you believe your debt is manageable. But the reality is, minimum payments will keep you in debt forever. On today’s podcast, guest and Certified Credit Counsellor Diane Cunha explains the ...
05.22.2021 351 – What Causes People to File Bankruptcy? There are a lot of misconceptions about why someone files for bankruptcy in Canada. Did they spend too much? Were they reckless or irresponsible? The truth is debt problems can happen to anyone at any time and when they least ...
05.15.2021 350 – Is it a Waste of Time to Teach Kids About Money? with Robin Taub Is there any point in teaching a kid in Grade 10 mortgage amortizations? And if you as a parent aren't a money expert, isn't it counter productive for you to try to explain money to your kid? Robin Taub is ...
05.08.2021 349 – How to Recognize Heinous Financial Advice with Danielle Park Should you put all of your savings at risk in the stock market to earn enough for a down payment on a house? Probably not. Danielle Park, lawyer, and wealth manager explains why some financial advice is "heinous", how to ...
05.01.2021 348 – How Deflation Will Impact the Economy and Your Debt with Jeff Booth We worry about inflation, but the technology we increasingly use is deflationary. That's why most of the apps on your phone are free. Deflation is great if you can buy things for less, but debt doesn't deflate, so you could ...
04.24.2021 347 – Warning Signs You Have Too Much Debt. Knowing When to Fold It can be hard to know that you’ve reached a tipping point with your debt, especially when you’re keeping up with minimum payments. So, when do you know that it’s time to fold? On today’s podcast, Ted Michalos and Doug ...
04.17.2021 346 – Enrage to Engage: How the Media Misreports our Debt Problems Are half of Canadians really just $200 away from bankruptcy? No. But that does make a compelling headline, doesn’t it? Media outlets compete for our attention – it makes them money. But clickbait headlines about Canada’s personal debt (or any ...
04.10.2021 345 – Avoid These Common Mistakes That Can Sabotage Your Budget You have a budget, and you try to stay within it, but a lack of planning leads you to overspend. This is one of the most common ways people sabotage their own budgets. On today’s podcast, credit counsellor Diane Cunha ...
04.03.2021 344 – Human Trafficking and Financial Fraud: A Survivor's Story You may think that human trafficking is something that only happens in countries outside of Canada, or only happens to recent immigrants. No. Most victims are Canadian citizens or permanent residents. But what does human trafficking have to do with ...
03.27.2021 343 – Should You Reinvent Yourself Career-Wise Post Pandemic & How To Be Ready The coronavirus pandemic and job losses have led many people to rethink their careers. What can you do if your job no longer exists? How can you reinvent yourself? And how do you do that without taking on debt? On ...
03.20.2021 342 – How to Save Money Without Losing Your Motivation Having a savings fund helps you avoid a lot of financial headache in the event of an emergency. The trouble is, how do you get started on saving if cash is tight? On today’s podcast, Certified Credit Counsellor Diane Cunha ...
03.13.2021 341 – Predatory Loans: Stop Paying 39%, 49% and 59% on So-Called ‘Easy’ Loans Payday loans aren’t the only type of predatory loans out; several fintech companies offer ‘easy’ installment loans at high rates, ranging from 39% to 59%! On today’s podcast, Ted Michalos and Doug Hoyes explain how these loans work, what makes ...
03.06.2021 340 – How to Avoid E-Transfer Email Scams: Tips from an Interac Fraud Expert E-transfer fraud is on the rise. From e-transfers being redirected to a hacker’s bank account to job and puppy scams - how do you stay protected? Enter Rachel Jolicoeur – Director of Fraud Prevention at Interac. On today’s podcast, Rachel ...
02.27.2021 339 – Car Loans Keeping You Broke? Here’s What To Do For many people, a car is a necessary expense to get to work and run errands. But what if you unintentionally bought too much car and your car loan is now creating financial problems? What are your options? Is it ...
02.20.2021 338 – The Pandemic Debtor: Older and Going Bankrupt The Hoyes Michalos 2020 Bankruptcy Study revealed that for the first time in four years insolvencies shifted back to an older demographic. The share of insolvencies among those 50 and older increased from 28% in 2019 to over 30% post-lockdown, ...
02.13.2021 337 – What Credit Utilization Rate is Best for Your Credit Score? One of the simplest ways to increase your credit score is to lower your credit utilization. But how do you do that? And what utilization percentage is optimal? On today’s podcast, Certified Credit Counsellor Diane Cunha is back to share ...
02.06.2021 336 – What’s Going on with Real Estate in 2021? \| Should you buy now? With John Pasalis John Pasalis, President of Realosophy Realty, makes his first appearance on the podcast, and he tells us that, even though unemployment is high and we are in a lockdown, the real estate market is “on fire”. Why? Is government policy ...
01.30.2021 335 – Dealing with Small Business Closure and Debt Amid COVID-19 Managing a business is difficult, and the pandemic has made things much worse for Canadian small business owners. If you’re a small business owner facing debt problems, what are your options? On today’s podcast Ted Michalos is back to explain ...
01.23.2021 334 – Mortgages & Home Equity Refinancing: What Are the Risks in 2021? The real estate market is going crazy in Ontario. Is it a good time to refinance if you have debt? Enter Ron Butler – noted mortgage expert. On today’s podcast, Ron explains what’s going on with mortgages, the impact of ...
01.16.2021 333 – Mortgages, Consumer Debt and Delinquencies: What’s Real & What’s Fantasy with Ben Rabidoux As we enter 2021, some interesting trends are emerging: Canadian household savings rate is still high, yet so is our debt-to-income ratio; residential mortgages are also on a sharp rise. How do we explain this? Ben Rabidoux returns to share ...
01.09.2021 332 – How to Manage Your Money Without Budgeting Budgeting is difficult, but you need to keep track of your money. So how do you budget if you don't like budgeting? On today’s podcast, guest Julie Wildman, LIT, shares practical advice on how to match your expenses to your ...
01.02.2021 331 – When is a Car Loan Bad Debt? With Scott Terrio Car loans are one of the most common entry points into debt problems. That’s because if you’re not careful, you will easily spend more than you can really afford on a vehicle. On today’s show, guest Scott Terrio explains when ...
12.26.2020 330 – COVID-19 and Household Debt: What Do We See for 2021? The unemployment rate dramatically increased, debt levels continue to grow, and yet the personal insolvency rate in Canada dropped to 20-year lows when the COVID-19 lockdowns started in the spring. How long will insolvency rates remain low? Doug Hoyes and ...
12.19.2020 329 - Fix Bad Credit Yourself – Tips & Tricks from an Expert The first step in rebuilding credit is figuring out what’s causing your bad credit in the first place? Too much debt? A recent bankruptcy filing? Depending on the reason, there will be different ways to approach the rebuilding process. On ...

Older episodes

Debt Free in 30

What's Debt Free in 30 about?

Download our free app to listen on your phone

Debt Free in 30 episodes:

378 – When Debt Consolidation Doesn’t Go As Planned – Tips + What to Avoid

377 – What Will Small Businesses Face Post-Pandemic?

376 – Should You Help Your Child Get a Mortgage? with Ron Butler

375 – Can You Get Burned by Prepaid Credit Cards?

374 – How Should Financial Literacy Be Taught in School?

373 – Your Top Collections Questions Answered by a Debt Collector!

372 – Do You Even Need a Physical Bank Anymore? (Bricks & Mortar or Virtual Bank?)

371 – Should You Ask Your Employer to Take More Tax Off Your Pay?

370 – Should Car Insurance Rates Be Based on Your Credit Score?

369 – Canadian vs. US Bankruptcy: Fresh Start vs. Harsh Penalty?

368 – Do You Have to Check Your Credit Score Every Day, Week, Month?!

367 – Why Credit Card Debt Fell During the Pandemic, and Will it Rise Again?

366 – What’s Coming Up for Season 8 of Debt Free in 30?

365 – REBROADCAST – To Get Out of Debt You Need a System (Not Just a Goal)

364 – REBROADCAST: What Costco Can Teach Us About Making Financial Decisions

363 – REBROADCAST: CRA and CERB: What can you do if you owe CRA?

362 – REBROADCAST - Can a Collection Agency Take Me to Court?

361 – How Not to Get Scammed by a Debt Consultant

360 – How to Plan for Retirement on a Limited Income

359 – The Unintended Consequences of Debt

358 – 6 Outdated Pieces of Financial Advice You Should Rethink

357 – 16 Months Post-COVID: What’s Going on with Debt, Savings & What’s Next?

356 – How To Invest If You Can Only Save $100 a Month

355 – Understanding ‘Free’ Money & Navigating RDSPs & RESPs with Alan Whitton

354 – Bad Funding Choices for Small Business with David Barnett

353 – Should You Get a HELOC, 2nd Mortgage or Do a Consumer Proposal To Deal with Debt?

352 – The Minimum Payment Lie with Diane Cunha

351 – What Causes People to File Bankruptcy?

350 – Is it a Waste of Time to Teach Kids About Money? with Robin Taub

349 – How to Recognize Heinous Financial Advice with Danielle Park

348 – How Deflation Will Impact the Economy and Your Debt with Jeff Booth

347 – Warning Signs You Have Too Much Debt. Knowing When to Fold

346 – Enrage to Engage: How the Media Misreports our Debt Problems

345 – Avoid These Common Mistakes That Can Sabotage Your Budget

344 – Human Trafficking and Financial Fraud: A Survivor's Story

343 – Should You Reinvent Yourself Career-Wise Post Pandemic & How To Be Ready

342 – How to Save Money Without Losing Your Motivation

341 – Predatory Loans: Stop Paying 39%, 49% and 59% on So-Called ‘Easy’ Loans

340 – How to Avoid E-Transfer Email Scams: Tips from an Interac Fraud Expert

339 – Car Loans Keeping You Broke? Here’s What To Do

338 – The Pandemic Debtor: Older and Going Bankrupt

337 – What Credit Utilization Rate is Best for Your Credit Score?

336 – What’s Going on with Real Estate in 2021? | Should you buy now? With John Pasalis

335 – Dealing with Small Business Closure and Debt Amid COVID-19

334 – Mortgages & Home Equity Refinancing: What Are the Risks in 2021?

333 – Mortgages, Consumer Debt and Delinquencies: What’s Real & What’s Fantasy with Ben Rabidoux

332 – How to Manage Your Money Without Budgeting

331 – When is a Car Loan Bad Debt? With Scott Terrio

330 – COVID-19 and Household Debt: What Do We See for 2021?

329 - Fix Bad Credit Yourself – Tips & Tricks from an Expert

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