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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.
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The Solomon Success podcast is dedicated to the timeless wisdom of King Solomon and the Book of Proverbs in order to maximize one’s business and life. To our advantage, we can find King Solomon’s financial strategies in addition to many life philosophies documented in biblical scriptures. Focusing on these enduring fundamentals of success allows us to bypass the “get-rich-quick” schemes that cause many to stumble on their journey toward success. Our concern is not only spiritual in nature, b ...
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Planning a wedding on a budget? In this episode, Jessica Bishop, founder of The Budget Savvy Bride, shares expert advice on keeping your big day affordable without sacrificing style. Whether you are dreaming of a traditional ceremony or considering eloping, Jessica's insights will help you celebrate your love without breaking the bank. We discuss m…
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Top tips on how to file taxes. How to file taxes in Canada, setup your CRA my account, deadlines, government benefits and how to receive your refund with no additional fees. We also discuss tax discounting services, the importance of gathering all your documents, claiming all legitimate deductions such as moving expenses and tuition and notifying C…
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In this episode, Doug and Ted discuss the risks of co-signing on a loan. They discuss the differences between joint loans and co-signed loans and the impact they can have on your credit. They address common scenarios such as parental co-signing and provide advice on alternative ways to assist friends or children financially without assuming the bur…
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In this episode of Debt Free in 30, Ted and Doug discuss RRSP early withdrawals. They weigh the pros and cons of tapping into your savings before retirement and discuss tax implications, CPP and exceptions such as the Home Buyer's Program and the Lifelong Learning Plan. This helpful discussion will give you the knowledge to make the right decisions…
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In this episode, Maureen and Doug explore financial habits and discuss why we spend the way we do and how we can make better choices. Maureen shares how habits form and how you can be influenced to spend money. From understanding the psychology behind spending to learning strategies for breaking bad habits and building good ones, this episode will …
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In this episode, Doug Hoyes and Ted Michalos discuss the annual Hoyes Michalos Joe Debtor Bankruptcy Study for 2023. They talk about why credit card debt is driving consumer insolvencies, challenges faced by homeowners, and why we are seeing an increase in insolvencies among higher-income individuals. For more information, you can access the detail…
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In this episode, Doug chats with Janette Martin, a Credit Counsellor at Hoyes Michalos. Janette shares her tips on saving money while grocery shopping, focusing on the Flipp app. They discuss using the app to review online flyers, price matching across various stores, the checkout process, potential savings and time commitments. They also touch on …
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In this episode, Doug and Ted discuss the government's intention to lower Canada's criminal interest rate from 60% EAR to 35% APR and set the maximum cost of borrowing for payday loans at $14 per $100 borrowed. They explore the implications for borrowers and lenders, particularly in the payday loan sector. Doug and Ted touch on compound interest, p…
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In this eye-opening episode of Debt Free in 30 host Doug Hoyes is joined by guest Richard Dunwoody to unravel the often-overlooked connection between human trafficking and coerced debt. With Ontario facing the second-highest rate of police-reported human trafficking in Canada, the conversation sheds light on how traffickers exploit victims financia…
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In this episode of Debt Free in 30, Doug and Ted discuss the ongoing battle against unregulated debt consultants. They dive into the recent developments, including the conversation with Superintendent of Bankruptcy Elisabeth Lang and the release of a comprehensive position paper. The paper exposes the deceptive practices of these consultants, who h…
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Get ready for 2024 with our first episode of the year! Join Doug Hoyes as he gives a straightforward take on New Year's resolutions, highlighting the need for a practical plan and figuring out what really matters to you. He talks about why arbitrary resolutions may not work and gives advice on making changes that actually stick. Doug shares easy st…
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In this year-end podcast, Doug and Ted review their 2023 predictions and share insights on what to expect in 2024. They discuss the accuracy of last year's forecasts on inflation, interest rates, and insolvency rates. Doug predicts a decline in inflation due to an anticipated recession, and Ted adds insights on borrowing for essential living costs …
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Join Doug and Ted as they break down simple strategies for financial success in 2024. Whether you're dreaming of starting a business, planning for retirement, or making big purchases, their advice can make a real impact. They discuss the importance of having a personal plan and explore the significance of setting long-term goals. Don't miss out on …
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Does the cost-of-living soar when you're flying solo? Join Doug in this episode as he's joined by Heather Cudmore, a Certified Credit Counsellor, and Client Service Specialist at Hoyes Michalos. Together, they delve into the concept of the 'single tax' and discuss the unique financial hurdles that singles often encounter. Drawing on her extensive e…
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In this episode, Doug sits down with Joel Sandwith, a Licensed Insolvency Trustee based at the Hoyes Michalos London office. Together, they explore effective debt management strategies and delve into optimal approaches for debt repayment. The episode provides a comprehensive comparison of the snowball and avalanche methods. If you're trying to figu…
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In this week’s episode of Debt Free in 30, credit expert Richard Moxley returns to tackle the burning question: Why are credit reports always wrong? From the importance of credit ratings to practical tips on finding and fixing errors, we cover it all. Discover how to navigate post-insolvency challenges, handle account changes, and conquer stubborn …
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In this episode, Doug Hoyes is joined by Ted Michalos as they discuss the importance of doing an annual financial checkup. Doug explains the importance of having a plan and touches on various topics such as updating your will, insurance, investments, bank accounts, taxes, passwords, and debt. Now is the time to review your finances and make a plan …
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In this episode, Doug Hoyes discusses retirement planning with special guest Rona Birenbaum, a Certified Financial Planner at Caring for Clients. The episode covers various retirement-related topics, including the importance of financial planning, the role of financial advisors, and the complexities of decisions such as when to retire and when to s…
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Doug Hoyes and Ted discuss a pressing issue that many Canadians face: the challenge of closing on a house when real estate prices have taken a hit. They discuss the complexities of the real estate market, particularly the implications for those who bought pre-construction homes or condos. They also explain the risks associated with pre-construction…
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Doug Hoyes and Ted Michalos discuss the state of the economy and explore the possibility of a silent depression. Their discussion includes topics such as unemployment rates, the challenges confronted by the Millennial and Gen-Z generations, the recent increase in credit card debt, and the state of the real estate market. They also offer guidance on…
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Doug Hoyes and special guest Ron Butler from The Angry Mortgage Podcast came together for a live episode on Monday, October 23rd. During this special event, they talked about current mortgage trends, real estate, Bank of Canada interest rates, inflation, and addressed questions from their audience. Whether you own a home or are planning to buy one …
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Doug Hoyes is joined by special guest, Blair Demarco-Wettlaufer, a collection agent, who serves as the Chief Operations Officer at collection agency Kingston Data & Credit. This marks Blair's seventh appearance on the show! In this episode, Doug and Blair discuss the messy world of debt collection, statute-barred claims, and credit reporting. They …
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What happens to debt when someone passes away? Host Doug Hoyes is joined by Ted Michalos to discuss a topic that might sound eerie but is incredibly important. They chat about the different types of debt: credit card balances, car loans, and mortgages. Ted provides clear and valuable advice on important topics such as life insurance, wills, and pow…
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You've probably noticed that Artificial Intelligence is everywhere these days, but can it help you out with debt and managing your money? Doug Hoyes and Scott Terrio are here to chat about just that! They discuss how AI looks at your spending habits, and discuss concerns related to biases and privacy, talk about the pros and cons of using ChatGPT t…
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Are you a small business dealing with the CEBA loan repayment dilemma? Ted Michalos and Doug Hoyes dive deep into the world of CEBA loans and the crucial decisions you need to make about repaying them. For many small businesses, the loan was a lifeline during the pandemic but as the repayment deadline is looming it’s time to evaluate your options. …
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Join the conversation with Ian Penney, a Licensed Trustee from Janes & Noseworthy, and Doug Hoyes as they provide insights into managing your finances in the aftermath of the pandemic, with a focus on the distinctions between Newfoundland and Ontario. During the discussion, they delve into the economic landscapes of these regions, spotlighting key …
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Every successful budget makes room for fun spending. But how much is OK to spend on fun? What if you feel guilty? Is it ever wrong to spend money on your hobbies and interests? On today’s podcast, Maureen Parent returns to give advice on this less explored area of our budget and gives practical advice on how to allocate your income wisely towards l…
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Higher education isn’t getting any cheaper. The cost of going to university has more than tripled since the 1990s and we see first-hand the financial burden caused by student loans. So, is it still worth it to get into debt for post-secondary schooling? With so many advancements in free online education, aren’t there cheaper alternatives? When is c…
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Welcome to Season #10 of Debt Free in 30. Debt is up. Interest rates are up. Not surprisingly, personal insolvency filings are way up. Many people are hitting the wall. On today’s abbreviated podcast, Doug Hoyes explains the numbers and why we live in a “Tale of Two Economies.” If you are rich, all is good. If you have depleted your savings and hav…
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For our final rebroadcast of the summer, we are rebroadcasting episode #452. We know rising inflation is tough on Canadians. If your budget is getting tighter, you may be tempted to use credit (debt) to make ends meet, but that may not be a good strategy. On today’s podcast, Jennifer Kwon returns with some solid practical advice for what to do if y…
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Today we rebroadcast episode #453. Online shopping isn’t new. Apps are not new. But is shopping supposed to be a game? That’s the angle a new shopping app called Temu appears to have taken. Since its launch in September 2022, the app has millions of monthly users, offers very deep discounts, and has strong incentives to keep users coming back. On t…
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Today we rebroadcast episode #448. Most money experts will tell you that the best way to avoid money problems is to cut costs. And they’re right. But what about also increasing your income? After all, you can only cut so much. We have seen a lot of people struggle with rising living costs, with a limited income, and needing debt to make ends meet. …
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Originally aired at episode 450 on April 15, 2023, the Food Professor returns. Food is now more expensive than ever. But why? Is it just corporate greed? Or something greater? Enter Dr. Sylvain Charlebois, a.k.a. The Food Professor. Sylvain is a Professor and the Scientific Director at Agri-Food Analytics Lab at Dalhousie University. On today’s pod…
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Welcome to the Solomon Success Show! Listen in as Jason and Bruce Fleet talk about The Solomon Secret: Seven Principles of Financial Success from King Solomon, History’s Wealthiest Man. Using Solomon's life and teachings as a foundation, Bruce Fleet offers today's readers a unique, well-grounded, proven method of wise investing. Solomon was more th…
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In the season 9 finale episode of Debt Free in 30, Doug Hoyes and Ted Michalos discuss the current state of consumer insolvencies in Canada and why they’re going back up. They also discuss the impact of inflation remaining higher than wage increases, higher credit card debt, and higher interest rates. Where are we heading in the latter part of 2023…
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Buying a car has never been more expensive. But what if you have no choice but to buy one? How can you avoid buying too much car these days? On today’s podcast, Ted Michalos and Doug Hoyes explain what’s causing high car prices in both the new and used car categories, as well as, how to buy without taking out a huge auto loan. Tune in for lots of p…
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Welcome to the Solomon Success Show! Listen in as Jason talks about the Ten Commandments of Successful Investing. Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ F…
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Maybe you’re tired of working for someone. Or you’re looking to be your own boss. You may consider buying a business. It’s not a bad idea, but just as there are advantages, there are also pitfalls you need to be aware of. Enter David Barnett. David is a seasoned expert in buying and selling small to medium-sized businesses. On today’s podcast, Davi…
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Your bank is a business, so they’re always trying to sell to you because they want to make more money. How do you navigate their tricks? How do you avoid upsells when you just want to do a simple transaction? On today’s podcast, Scott Terrio and Doug Hoyes discuss the pervasive sales culture at financial institutions, what you need to look out for,…
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With nine interest rate hikes since March 2022, mortgage borrowers have either already started to feel the increased payment pressures or will at renewal time. So, what if your mortgage payments become too much to manage? How do you avoid risking your home? On today’s podcast, Doug Hoyes and Ted Michalos give practical advice for what to do if you’…
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We know it can be daunting to start your credit repair journey. We are often asked where to begin and what is the fastest way to rebuild. On today’s podcast, Maureen Parent is back to answer some of the most common credit rebuilding questions and address fears and misconceptions about repairing your credit. Tune in for lots of great practical advic…
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Self-employment has many advantages like you get to be your own boss, set your own hours, and even make more money. On the other hand, self-employment comes with challenges. Over the years, we’ve met with a lot of clients who were self-employed but became overwhelmed by unpaid tax debt. On today’s podcast, Doug Hoyes and Ted Michalos break down wha…
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While bank failures are not a common occurrence in Canada, it may still be in your best interest to have more than one bank account. On today’s podcast, Joel Sandwith, our LIT in London, joins Doug Hoyes to discuss banking best practices, including how many accounts you should have, where to store your savings, and why it’s important to understand …
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The price at the gas pump includes a lot of hidden costs, and they are going up. How will this impact your budget? What does it mean for the future of car ownership? On today’s podcast, Ted Michalos and Doug Hoyes discuss the hidden costs of gas and how the increase in some of the price components will mean you’ll only be paying more to fuel your c…
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Tipping has always been a part of the dining experience. But lately, the expectation to leave a tip has become so common that we have to make it a new budgeting item. So how do you navigate tip creep? On today’s podcast, we have a special guest, Sean Cassidy, who shares his experience with tipping prompts and how he’s adapted his budget. Doug and S…
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Everyone says you need an emergency fund. But how much is enough? And what is an emergency vs. an inconvenience? Where should you store your savings? Enter Maureen Parent. Maureen returns to share lots of practical advice on how to setup a realistic system to create your emergency fund. She also explains how much you should have saved at different …
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Say your bank offers you a credit limit increase. You may be tempted to take it, but should you? When is seeking more credit a sign that your finances aren’t in good shape? On today’s podcast, Mark Borysiak, our LIT in Barrie, joins Doug Hoyes to discuss just how much access to credit you should have and why getting an increase can cause debt probl…
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Online shopping isn’t new. Apps are not new. But is shopping supposed to be a game? That’s the angle a new shopping app called Temu appears to have taken. Since its launch in September 2022, the app has millions of monthly users, offers very deep discounts, and has strong incentives to keep users coming back. On today’s podcast, Doug Hoyes takes a …
  continue reading
 
We know rising inflation is tough on Canadians. If your budget is getting tighter, you may be tempted to use credit (debt) to make ends meet, but that may not be a good strategy. On today’s podcast, Jennifer Kwon returns with some solid practical advice for what to do if you feel you’re living paycheque to paycheque and the dos and don’ts of using …
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According to TransUnion, the average credit consumer with a balance in Canada saw a 10% year-over-year increase in their minimum monthly debt payments in Q4 2022. If your minimum payments start going up, what should you do? What if they already have? On today’s podcast, Maureen Parent returns to discuss why minimum payments increase in the first pl…
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