Best friends Joel and Matt are the co-hosts of How to Money which is all about providing the knowledge & tools that normal folks need to thrive in areas like debt payoff, DIY investing, and crucial money tricks that will provide continuous help along your journey. We believe that access to unbiased and jargon-free personal finance guidance is more necessary than ever before. When you handle your money in a purposeful, thoughtful way that works for your lifestyle, you can really start living ...
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continue reading
Content provided by Douglas Hoyes and Doug Hoyes. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Douglas Hoyes and Doug Hoyes or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
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330 – COVID-19 and Household Debt: What Do We See for 2021?
Manage episode 280948536 series 117835
Content provided by Douglas Hoyes and Doug Hoyes. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Douglas Hoyes and Doug Hoyes or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
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 happen with debt and bankruptcy and consumer proposal filings in 2021, in one of our most anticipated podcasts of the year. Enjoy!
Full details of everything discussed:
https://www.hoyes.com/blog/how-covid-19-affected-household-debt-in-2020/
Time Stamps
0:20 A review of Doug and Ted's predictions for 2020
2:12 With high debt and high unemployment, why insolvencies didn't skyrocket
2:50 The personal savings rate hit an all-time high; why?
3:48 The impact of CERB on household income
4:49 The problem with statistics
5:32 COVID-19 impact on high, middle and low income earners
9:00 An example of a middle income earner most impacted by the lock down
10:40 The impact of deferrals
13:40 What will happen with debt in 2021?
16:06 The psychology of spending; why some of us will not increase out spending early in 2021
16:41 Comments on the real estate market
18:53 Prediction time!
19:17 Ted's prediction
19:51 Doug's predictions
24:55 The impact of an economic recovery on insolvency filings
503 episodes
Share
Manage episode 280948536 series 117835
Content provided by Douglas Hoyes and Doug Hoyes. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Douglas Hoyes and Doug Hoyes or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
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 happen with debt and bankruptcy and consumer proposal filings in 2021, in one of our most anticipated podcasts of the year. Enjoy!
Full details of everything discussed:
https://www.hoyes.com/blog/how-covid-19-affected-household-debt-in-2020/
Time Stamps
0:20 A review of Doug and Ted's predictions for 2020
2:12 With high debt and high unemployment, why insolvencies didn't skyrocket
2:50 The personal savings rate hit an all-time high; why?
3:48 The impact of CERB on household income
4:49 The problem with statistics
5:32 COVID-19 impact on high, middle and low income earners
9:00 An example of a middle income earner most impacted by the lock down
10:40 The impact of deferrals
13:40 What will happen with debt in 2021?
16:06 The psychology of spending; why some of us will not increase out spending early in 2021
16:41 Comments on the real estate market
18:53 Prediction time!
19:17 Ted's prediction
19:51 Doug's predictions
24:55 The impact of an economic recovery on insolvency filings
503 episodes
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Similar to Debt Free in 30
Best friends Joel and Matt are the co-hosts of How to Money which is all about providing the knowledge & tools that normal folks need to thrive in areas like debt payoff, DIY investing, and crucial money tricks that will provide continuous help along your journey. We believe that access to unbiased and jargon-free personal finance guidance is more necessary than ever before. When you handle your money in a purposeful, thoughtful way that works for your lifestyle, you can really start living ...
…
continue reading
The Village Global podcast takes you inside the world of venture capital and technology, featuring enlightening interviews with entrepreneurs, investors and tech industry leaders. Learn more at www.villageglobal.vc.
…
continue reading
An archive of each full weekday episode of the award-winning program presented by Bruce Whitfield.
…
continue reading
Bitcoin groundbreakers share personal stories of how Bitcoin is changing lives for the better. Host Mauricio Di Bartolomeo, co-founder and CSO of Ledn, speaks with leading Bitcoin voices, entrepreneurs, and human rights advocates to hear their unique journey and practical real-world examples of how Bitcoin has made a positive impact in their lives. Brought to you by Ledn, a leading financial services company built for Bitcoin & digital assets. Ledn offers a suite of lending, saving and tradi ...
…
continue reading
Bitcoin pioneer Charlie Shrem peels back the layers on the lives and backgrounds of the world's most impactful innovators. Centering around intimate narratives, Shrem uncovers a detailed, previously unspoken story of the genesis and evolution of bitcoin, cryptocurrency, artificial intelligence, and the web3 movements. Join Shrem as he journeys through the uncharted territories of tech revolutions, revealing the human side of the stories that shaped the digital world we live in today.
…
continue reading
How will countries around the world cope with persistent inflation and high borrowing costs? Are central bankers helping to abate the cost-of-living crisis or are they moving us all closer to recession? On Stephanomics, a podcast hosted by Bloomberg Economics head Stephanie Flanders—the former BBC economics editor and chief market strategist for Europe at JPMorgan Asset Management—we combine reports from Bloomberg journalists around the world and conversations with internationally respected ...
…
continue reading
Save more and spend less is more than just a motto for money expert Clark Howard; it’s a way of life. Clark and his crew — Team Clark — are on a mission to empower people to take control of their personal finances by providing money-saving tips, consumer advice, hot deals and economic news to help everyone achieve financial freedom. Clark is a nationally syndicated radio talk show host and a consumer reporter for television stations around the country. His podcast, The Clark Howard Show, rec ...
…
continue reading
A personal finance and investing podcast on money, how it works, how to invest it and how to live without worrying about it. J. David Stein is a former Chief Investment Strategist and money manager. For close to two decades, he has been teaching individuals and institutions how to invest and handle their finances in ways that are simple to understand. More info at moneyfortherestofus.com
…
continue reading
Bloomberg Radio host Barry Ritholtz looks at the people and ideas that shape markets, investing and business.
…
continue reading
Named 2023 Best Personal Finance podcast by Bankrate.com, The Stacking Benjamins Show has a light and friendly tone. Hosts Joe Saul-Sehy and OG aim to make financial literacy fun for all as they sit around the card table in Joe's Mom's half-finished basement and talk with experts about personal finance, saving, investing, and important money trends. As Fast Company once wrote, the Stacking Benjamins podcast "strikes a great balance of fun and functional." So join Joe and OG every Monday, Wed ...
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