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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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Debt Free in 30
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333 – Mortgages, Consumer Debt and Delinquencies: What’s Real & What’s Fantasy with Ben Rabidoux
36:20
36:20
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36:20
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 his insights on what’s really happening with debt, savings, and where he sees the real estate market heading.…
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Debt Free in 30
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332 – How to Manage Your Money Without Budgeting
26:22
26:22
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26:22
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 income, without the need to spend a lot of time tracking every dollar you spend. Julie and Doug Hoyes also discuss how to be r…
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Debt Free in 30
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331 – When is a Car Loan Bad Debt? With Scott Terrio
32:34
32:34
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32:34
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. While it’s hard to avoid borrowing for a car altogether, there are steps you can take to protect your financial health. On today’s show, guest Scott Terrio explains when a ca…
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Debt Free in 30
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330 – COVID-19 and Household Debt: What Do We See for 2021?
26:43
26:43
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26:43
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 Ted Michalos review the unprecedented events of 2020, and offer their predictions on what will…
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Debt Free in 30
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329 - Fix Bad Credit Yourself – Tips & Tricks from an Expert
35:22
35:22
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35:22
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 today’s podcast, our guest is credit expert Richard Moxley, who walks us through the importance of having good …
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Debt Free in 30
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328 – CRA CERB Audit? CEWS Audit? What Should You Do?
30:01
30:01
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30:01
Nearly 9 million Canadians applied for CERB in 2020 to deal with the financial effects of COVID-19. To distribute the benefit quickly, the Canadian government conducted very little eligibility verification up-front. Many people believed they were eligible to get CERB but are now discovering that that was not the case. So, what happens if you receiv…
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Debt Free in 30
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327 – Buy Now Pay Later Apps – Is it Debt?
30:01
30:01
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30:01
Fintech has come up with a new way for making purchases online with Buy Now Pay Later apps. But is ‘buy now, pay later’ just another form of debt? Do these new apps actually help your budget or fast track financial problems? On today’s podcast, we have first-time guest and Hoyes Michalos LIT Jennifer Kwon who walks us through how these apps work, h…
Some loans feel like you’ve been paying them forever without an end in sight. In other cases, you may even be surprised to see your loan balances grow instead of shrink with regular payments. On today’s podcast, Doug Hoyes and Ted Michalos define important terms for understanding how loans work, how to spot an expensive loan, and the risks you face…
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Debt Free in 30
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325 – Income Tax Deductions & COVID-19 Work From Home
34:15
34:15
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34:15
An unprecedented number of Canadians went from being office employees to working from home during this pandemic. Many also took on home office costs in 2020. So, what does this mean for our 2020 income tax filing? Which expenses will we be able to deduct and which ones will we not? On today’s podcast, Ian Martin, CPA and Licensed Insolvency Trustee…
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Debt Free in 30
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324 – Will We Finally Spend Less This Christmas?
35:43
35:43
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35:43
Every January, we meet with clients who tell us they spent way too much during the holiday season. But given the current pandemic, income problems, and gathering restrictions, will 2020 finally be the year when Canadians spend less? On today's podcast, Diane Cunha and Doug Hoyes discuss what generally drives people to spend so much over the holiday…
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Debt Free in 30
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323 – Is Good Money Management a Talent or a Learnable Skill?
17:56
17:56
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17:56
It's the 10th annual financial literacy month sponsored by the federal government. Are we more financially literate than we were 10 years ago? Our debt levels keep increasing, so it doesn’t appear so. Is it possible to learn money management skills, or do you have to be born with it, like athletic ability. On today’s short podcast Doug Hoyes explai…
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Debt Free in 30
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322 – How to Build an Emergency Fund if You Have Debt
33:00
33:00
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33:00
Every financial guru says you need an emergency fund. But if you also have debt, is it possible to balance saving and paying down high-interest credit cards or lines of credit? What are the steps to get started? On today’s podcast, Diane Cunha, Certified Credit Counsellor at Hoyes Michalos discusses the different types of emergency funds, teaches u…
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Debt Free in 30
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321 – Is Multi-Level Marketing (MLM) a Scam?
28:13
28:13
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28:13
Description: Amid economic uncertainty, side hustles have become a popular way to earn extra income. But while many side hustles are good, some are risky and can lead to serious debt problems. On today's podcast, guest and Hoyes Michalos LIT Julie Wildman discusses the risks of multi-level marketing ventures (or MLMs). While an MLM can seem like a…
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Debt Free in 30
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320 – Dealing with the End of Debt Deferrals
32:15
32:15
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32:15
As of August 31st, 778,000 Canadians with a mortgage at Canada’s big banks deferred or skipped a payment on their mortgage. The deferral periods for many mortgages and other credit loans and products have now come to an end. What does this mean for your debt? On today’s podcast, Ted Michalos and Doug Hoyes review different credit products (mortgage…
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Debt Free in 30
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319 – CERB Transition to EI: What Does It Mean For Your Budget & Debt?
43:17
43:17
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43:17
The Canada Emergency Response Benefit (CERB) has now come to an end and is transitioning to four different financial aid programs: EI, CRB, CRSB, and CRCB. But what do these income supports mean for Canadians’ household budgets and debt repayment? Will they be enough to help Canadians still battling the financial effects of COVID-19? And which indi…
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Debt Free in 30
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318 – Could Canada Have a Simpler Tax System? with Neal Winokur
35:50
35:50
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35:50
Filing income taxes can be complicated, especially if you're a self-employed individual. And if you can't afford an accountant, you fall behind on filing your taxes and face trouble with the Canada Revenue Agency. Could we make the Canadian tax system simpler? And what would a simpler system mean for tax deductions? Enter Neal Winokur, author of th…
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Debt Free in 30
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317 – Globalization, Inequality and Debt With Jeff Rubin
35:25
35:25
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35:25
Today's first time guest is Jeff Rubin, who was the Chief Economist at CIBC World Markets (where he worked for over 20 years). He has just released a new book: The Expendables: How the Middle Class Got Screwed by Globalization, where he says that the decline in permanent, well paying full time jobs is a direct result of free trade agreements that t…
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Debt Free in 30
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316 – Combating the Stigma Around Food Insecurity with Wendi Campbell
36:41
36:41
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36:41
Like debt problems, food insecurity can happen to anyone. What causes individuals and families to require food assistance? On today's podcast, we have first-time guest Wendi Campbell, CEO at The Food Bank of Waterloo Region to help us get a better understanding of local food issues and what "food insecurity" really means. Wendi also addresses commo…
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Debt Free in 30
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315 – Debt, Savings & Consumer Spending with Ted Michalos
30:38
30:38
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30:38
Last week, Doug Hoyes walked us through several key statistics, including insolvency filings, household savings rates, and loan deferrals. On today's show, he digs deeper into the 'whys' behind the numbers with guest Ted Michalos. Tune in as they give an update on why personal insolvencies are down and how much longer they expect filings will decli…
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Debt Free in 30
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314 – Season 7 Premiere: What's Going to Happen with Debt in the Fall?
18:32
18:32
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18:32
Welcome to the season 7 premiere of Debt Free in 30. It's only September but it's been an eventful year already, eh? Insolvency filings were high at the start of 2020 but fell to record lows by the month of May. Unemployment is high, but so is the savings rate. How is that possible? Today we discuss these stats, and look ahead to the Fall. Collecti…
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Debt Free in 30
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313 – Pandemic Update, and REBROADCAST: Debt Forgiveness: Is a Debt Jubilee the Answer?
28:28
28:28
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28:28
Millions of Canadians have received CERB (and may have a tax debt next year), and many Canadians have incurred and deferred debt to survive the pandemic. How will they repay that debt? First aired in May, today we have a new introduction and update, and then we rebroadcast our episode on an ancient concept that is getting a lot of new interest: a d…
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Debt Free in 30
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312 – Thoughts on Toilet Paper and REBROADCAST: What Costco Can Teach Us About Making Financial Decisions
26:10
26:10
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26:10
Costco became the "go to" store during the 2020 pandemic, as long lines formed so we could all buy toilet paper. Today we revisit our podcast on that wonderful, magical place called Costco, with some updated thoughts on the pandemic. Is it a store? A finance company? Something else? And why does it matter? All that and more on today’s podcast (and …
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Debt Free in 30
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311 – Pandemic Thoughts and REBROADCAST: The Fable of the $20 Bill
22:53
22:53
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22:53
Is it possible to financially recover from the coronavirus pandemic of 2020? Yes, but it starts with $20. On today's podcast we discuss the pandemic, and then present a special rebroadcast of the fable of the 20 dollar bill, and explain how $20 can set you up for financial success. A fable, as it were. Enjoy!…
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Debt Free in 30
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310 – Bankruptcy Statistics Update, and REBROADCAST: Take The Blame And Shame Out Of Debt Repayment with Shannon Lee Simmons
38:48
38:48
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38:48
Doug Hoyes explains why even with high debt and high pandemic-related unemployment bankruptcy filings continue to drop, and he gives his predictions for the next few months, and then, given the stress caused by the COVID-19 lock down, we rebroadcast our conversation with Shannon Lee Simmons, author of Living Debt-Free: The No-Shame, No-Blame Guide …
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Debt Free in 30
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309 – COVID update, and REBROADCAST: How To Negotiate with a Collection Agent
45:18
45:18
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45:18
Doug Hoyes gives an update on how collection agents are dealing with the COVID shut down (spoiler alert: they've found a way to keep calling), and then we rebroadcast our discussion with Blair Demarco-Wettlaufer, a real-life collection agent, who explains how a collection agent gets paid, and how you can negotiate with a collection agent. Enjoy!…
