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Debt Free in 30

309 EpisodesProduced by Doug HoyesWebsite

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

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309 – COVID update, and REBROADCAST: How To Negotiate with a Collection Agent

August 1st, 2020


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 …

308 – Debt and The Role of Luck

July 25th, 2020


Are you a success because of your superior brain power, and skill, and hard work?

Or was it all luck?

If you are having a rough time, is it because you screwed up, or was it bad luck?

On today's show Doug Hoyes days …

307 – Maternity Leave: Navigating Benefits and Preparing Financially

July 18th, 2020


As a new parent on maternity leave, you'll have a lot to do. The last thing you want is to worry about how you will make ends meet. On today's …

306 – Does Debt Matter? Would Printing More Money Solve Our Problems?

July 11th, 2020


When this podcast was recorded on the morning of July 8, 2020 the Canadian government was projected to run a deficit for the year of $250 billion.  …

305 – Is Patience a Virtue For Your Finances?

July 4th, 2020


Life's milestones like going to college or university, buying a house, or getting married cost money. And often the pressure to achieve these …

304 – Debt and Reasons for Optimism

June 27th, 2020


A lot has changed as a result of COVID-19. There are obvious reasons for pessimism, but there are a lot of reasons to be optimistic.  For example, …

303 – Savings, Debt & Modern Monetary Theory with Hilliard MacBeth

June 20th, 2020


We have record unemployment and millions of Canadians are relying on CERB payments to make ends meet, and yet our savings rate is increasing. How is that possible? On today's podcast, our guest is author and financial …

302 – Debt Traps of Buying a Business

June 13th, 2020


If you're thinking of buying a small business, this podcast is for you. Over the years, we've had a lot of clients who decided to buy a business either because they were frustrated with working for someone else and they …

301 – Managing Financial Transitions with Victoria Ryce

June 6th, 2020


After a three year absence (she was a guest on episodes 131 and 133), Victoria Ryce is back on the show, and today we discuss transitions, like having a child, getting married (or separated), and starting or completing …

300 – Can You Create Your Own Reality?

May 30th, 2020


This is episode #300, so for something completely different, today we discuss whether or not you can create your own reality.

That would appear to be …

299 – The True Cost of Debt Deferrals

May 23rd, 2020


With many Canadians facing a cash crunch during the COVID-19 lockdown, a quick-fix solution has been to defer debt payments. Deferring a debt payment …

298 – COVID-19 & Debt Update: What's Happening with Personal Insolvencies in Ontario

May 16th, 2020


We've heard from the economists, statisticians, and politicians but what's really going on with everyday individuals and the state of their finances …

297 – Debt Forgiveness: Is a Debt Jubilee the Answer?

May 9th, 2020


Canadians are carrying a record level of debt, and while we are off work during the pandemic of 2020, many of us will pile on more debt. Small businesses and contractors will take on debt to pay rent while they generate …

296 – Dealing with Collection Calls in COVID-19: Debt Negotiations, Deferrals, and Credit Report Impact

May 2nd, 2020


On episode 295 last week, Ted Michalos and Doug Hoyes said that collection agents are not making as many phone calls as they used to due to COVID-19. …

295 – The Vultures Are Circling: COVID-19 & High Interest Loans

April 25th, 2020


COVID-19 is making Canadian’s financial situations increasingly precarious, and high interest lenders are seizing this chance to market their services to those in need of fast cash. Not knowing their options, desperate …

294 – Debt, Rent Deferral Advice, & The Future of the Rental Market with Rachelle from Landlord Rescue

April 18th, 2020


If you're facing an income shortage, what can you do if you need to defer your rent payment? And what's going to happen to the rental market now that more AirBnB units are being listed as long-term rentals? On today's …

293 – Debt, HELOCs, and The New World of Mortgage Lending with Ron Butler

April 11th, 2020


How has COVID-19, job loss, declining income, and physical distancing impacted the mortgage industry? And how are home values going to be affected by all this? Enter Ron Butler. 

Ron is a seasoned mortgage broker and …

292 – Debt, Frozen Real Estate, Cancelled HELOCs, and a Guaranteed Recession with Ben Rabidoux

April 4th, 2020


Ben Rabidoux was the guest on podcast episode 266 in October 2019 where he correctly predicted lower interest rates, deflation and a weakening economy, and that was even without t foreseeing COVID-19. On today’s show he …

291 – COVID-19 and Debt Update: Dealing With Your Creditors

March 28th, 2020


The Hoyes Michalos Team is working from home, so today’s podcast was recorded yesterday morning in my guest boardroom, so the sound quality isn’t studio quality, but we wanted to get the information out to you; here’s …

290 – Dealing with Debt During COVID-19

March 21st, 2020


We normally record Debt Free in 30 weeks in advance, but today, given the rapidly changing situation, we decided to record a special COVID-19 episode.  We discuss what is happening right now (all 22 Hoyes Michalos …

289 – Rebuilding Your Life and Finances After Bankruptcy

March 14th, 2020


Beau Humphreys appeared on episode 147 back in June, 2017; he shared his struggle with a gambling addiction, and that episode is one of our most downloaded episodes ever.

Beau filed a consumer proposal with us in 2009, …

288 – Credit and Debt Decisions That Can Backfire

March 7th, 2020


Have you ever made a decision that seemed like a good idea at the time, but ended up backfiring?

Today credit counsellor Diane Cunha returns, and she’s got lots of examples of bad credit decisions that can backfire, …

287 – Should You Pay Someone To Do Your Taxes?

February 29th, 2020


Should you pay someone to do your taxes, or should you just do them yourself?

Simple question; what’s the answer? Scott Schaefer is here, and we’ll …

286 – Talking Happy Go Money with Melissa Leong

February 22nd, 2020


How do you strike a balance between your finances and your personal happiness? Enter Melissa Leong – financial expert and author of Happy Go Money. …

285 – Today’s Bankrupt Debtor: 4 Key Debt Trends Explained

February 15th, 2020


Once a year we crunch the numbers and release our annual Hoyes Michalos Joe Debtor Bankruptcy Study.  It’s the only study that exists that looks at real numbers from actual people (it’s a study, not a survey) so every …

284 – Rules to Master Your Credit with Richard Moxley

February 8th, 2020


On today’s show we have a first time guest, Richard Moxley, who explains how to win at the credit game.  He explains why the credit score you buy is not the same one your lender uses, why age matters, and what practical …

283 – How To Prepare Your Finances for a Recession

February 1st, 2020


I have no idea whether or not we will have a recession soon, but whether we do or not, there are some steps you can take to prepare.  On today’s show Scott Terrio returns to discuss what causes a “personal recession”, …

282 – Identifying and Avoiding Loan Scams

January 25th, 2020


Ted Michalos returns to discuss loan scams, including advance fee loans, savings loans, and “pay off your consumer proposal” loans.  Listeners may quibble with our characterization of these loans as “scams”, but we …

281 - Talk Money To Me with Kelley Keehn

January 18th, 2020


Kelley Keehn returns after a three year absence, and on today’s show we discuss some of the many interesting ideas she has in her new book, Talk Money to Me.

We discuss the impact of low interest rates, whether or not …

280 – Are Reverse Mortgages a Good Idea?

January 11th, 2020


On today’s show first time guest Alexandra Macqueen, CFP explains what a reverse mortgage is, how they work, and who qualifies.  More importantly, Ms. Macqueen does not sell reverse mortgages; she’s a financial planner …

279 – How Debt Fools People

January 4th, 2020


On today’s show Scott Terrio explains that, for most of our clients, debt “sneaks up on you”.  You borrow the money and expect to have no trouble paying it off, but then life happens, and the debt problems begin.  We …

278 – Year-End Debt Show and Predictions for 2020

December 28th, 2019


For the last show of the year Doug Hoyes and Ted Michalos look back on 2019 and ask the obvious question: the economy is doing well, unemployment is low, and yet bankruptcy and consumer proposal filings in Ontario have …

277 – Is Life Better or Worse Today?

December 21st, 2019


If you listen to the news, or read the comments on YouTube, you may think the world is getting worse.  All we hear about are political scandals, …

276 – The Problem with Gift Cards

December 14th, 2019


Everyone likes gift cards.  Free money!  An easy gift for anyone on your Christmas list, but there is a downside.

On today’s podcast, first time guest and Hoyes Michalos credit counsellor Patty Sweeney explains the …

275 – The Huge Business of Marketing

December 7th, 2019


Robert Brown, author of Wealthing Like Rabbits, returns for his sixth appearance on the podcast, where we discuss marketing in its many forms.

Cross selling, upselling and reselling are happening all the time, and we …

274 – Understanding the Retail Apocalypse with Stephanie Hughes

November 30th, 2019


Over 600 big name store locations have closed in Canada in the last three years, resulting in over 17,000 lost jobs, and that doesn’t include …

273 – Debt and The Sunk Cost Fallacy

November 23rd, 2019


The Sunk Cost Fallacy is easy to understand: you’ve spent the money, it’s gone, but you keep on doing what you’re doing, whether or not it makes sense, because you’ve spent the money.

You go to a restaurant and eat …

272 – Managing the Cost of Kids’ Sports

November 16th, 2019


On today’s podcast we’ve got two hockey parents: Kristen Kral, a credit counsellor in our Brantford office, and Rebecca Martyn, our Windsor trustee, who give their thoughts on how to save money on kid’s sports …

271 - TFSA, RRSP and Debt

November 9th, 2019


It’s amazing how many of my client are confused about the difference between a TFSA and an RRSP, so today Ian Martin and I go through the basics.

But isn’t this a podcast about debt?

Yes it is, so we also discuss what …

270 - The Fable of the 20 Dollar Bill

November 2nd, 2019


It’s the start of Financial Literacy Month in Canada, so instead of following the crowd and telling you to make a budget (which is the most common …

269 – Which Bank Should You Use?

October 26th, 2019


We advise our clients to open a new bank account at a new bank where they don’t owe any money, before filing a consumer proposal or bankruptcy, to ensure that their money is not “accidentally” seized by a creditor.  …

268 – No Good Deed Goes Unpunished

October 19th, 2019


Ted Michalos often says “no good deed goes unpunished”.  What does he mean by that?  Does he have a negative view of humanity?  On today’s show he gives examples to illustrate his point, and we give practical advice on …

267 – Debt Stories: Renovictions, Retail Apocalypse & Stagnant Incomes

October 12th, 2019


On today’s show: no statistics, no numbers, just stories about the clients we help.  Scott Terrio talks about the growing trend of renovictions, how the decline of retail stores is impacting our clients, and how …

266 – Real Estate, Personal Debt, and Recession Indicators with Ben Rabidoux

October 5th, 2019


After a three year absence Ben Rabidoux is back on the show.  We start with the story of how he got sued for libel due to some tweets he sent out, and then we discuss how borrowers can deal with the more restrictive …

265 – How To Talk to Your Aging Parents About Money

September 28th, 2019


My guest today is Cameron Huddleston, who wrote a new book called Mom and Dad, We Need to Talk: How to have essential conversations with your parents about their finances. 

How do you have the “money talk” with your …

264 – How To Negotiate with a Collection Agent

September 21st, 2019


Today on the show my guest is Blair Demarco-Wettlaufer, a real-life collection agent, who explains how a collection agent gets paid, and how you can …

263 – Why The 7-Year Rule for Student Loan Debt Should Be Eliminated

September 14th, 2019


If you start a business, and get into trouble, no problem, you can go bankrupt or file a consumer proposal to get debt relief.  Even tax debt goes away in a bankruptcy.  But, if you have a government guaranteed student …

262 – Welcome to Season 6 of Debt Free in 30

September 7th, 2019


In season #5 I started doing “rants”, single topic shows with just me talking.  The most downloaded show of the past 12 months was a “rant”, Show #227 where I talked about why systems are better than goals, and that was …

261 – REBROADCAST: Getting Out Of Debt Requires A System, Not Just A Goal

August 31st, 2019


Every financial guru says that achieving success starts with setting a goal.

I disagree.  While there is some benefit to setting goals, you are more likely to achieve success if, instead of focusing on goals, you have a …

260 – REBROADCAST: Take The Blame And Shame Out Of Debt Repayment

August 24th, 2019


In over 20 years of helping Canadians eliminate their debt, I've yet to hear a single client say they chose to have debt problems. Debt accumulates …

259 – REBROADCAST - What to Know About Credit Cards So You Use Credit Wisely

August 17th, 2019


When used correctly, a credit card is a helpful tool to build your credit history, and it's a safer than carrying cash. However, when mismanaged, a …

258 – REBROADCAST - Managing Money on a Variable Income

August 10th, 2019


It’s August, and we are rebroadcasting our most downloaded episodes of the last year, with a new introduction, and this one has opera!

How do you stay on top of your finances when your income differs from one month to …

257 - REBROADCAST: Think Twice Before You Get a Home Equity Line of Credit

August 3rd, 2019


A home equity line of credit (HELOC) is a loan secured by the equity in your house. A HELOC is often presented as a great borrowing tool because …

256 – Advice for Dealing with a Debt Buyer

July 27th, 2019


What is a debt buyer?  What should you do if you find out that a debt buyer has bought your debt?

On today’s show a former collection agency lawyer …

255 – Are You Financially Dependent on Debt?

July 20th, 2019


Could you survive without debt?  Sounds like an easy question to answer, but many of our clients are so dependent on credit cards that they don’t …

254 – What Costco Can Teach Us About Making Financial Decisions

July 13th, 2019


Today we discuss a wonderful, magical place called Costco.  Is it a store?  A finance company?  Something else?  And why does it matter?  All that …

253 – Self-Employed: Financing Wisely to Avoid Debt Trouble

July 6th, 2019


Many people have no choice: if they want to work, they have to be a “sub-contractor”, or “self-employed”.  This is very common in the construction industry (Dry wallers, framers, plumbers, electricians, roofers) and in …

252 – Are Debt and Mental Health Connected? Understanding Debt Stress

June 29th, 2019


My guest today is Dr. Thomas Richardson.  He has a doctorate in Clinical Psychology, with a special interest in financial difficulties and mental …

251 – How Banks and Faulty Economics Contribute To The Consumer Debt Binge

June 22nd, 2019


My guest today is Hilliard Macbeth, an investment portfolio manager and author of When the Bubble Bursts: Surviving the Canadian Real Estate Crash.

250 – How Debt Is Causing High Stress Levels and What To Do About It

June 15th, 2019


Even though the economy appears to still be in good shape, our stress levels are very high.  Why?

On today’s show I explain that everyone isn’t benefitting from the good economy; the cost of living is high; we have …

249 – The 5 Stages of Debt

June 8th, 2019


You’ve heard of the five stages of grief; today Scott Terrio returns to discuss the 5 stages of debt, with examples from the people we meet with every day.

Stage 3 (Bargaining) is where we can make the most mistakes; …

248 – Building Wealth in a Challenging World

June 1st, 2019


Today on the podcast we have a first time guest, Danielle Park, a Chartered Financial Analyst and the President and co-founder of Venable Park Investment Counsel Inc., a money management firm.

In her book, Juggling …

247 – Managing Your Second Biggest Expense: Food Budget

May 25th, 2019


For the average Canadian family, their largest monthly expense is their rent or mortgage payment, and unless they have a very expensive car, their second biggest expense is often food.

If you have a limited income, how …

246 – Can I Travel While in a Bankruptcy?

May 18th, 2019


You’ve got debt, you think you might need to file a consumer proposal or go bankrupt, but you’re worried, because you travel for your job, or you have a family vacation booked, and you are worried that if you are …

245 – Pros and Cons of Pre-Approved Credit Limits and Credit Lines

May 11th, 2019


When I ask my clients “what happened; how did you get into so much debt?”, they tell me that the credit card company offered them a credit limit increase on their credit card, so they took it.  Or, they offered me a …

244 – Should Pensions Be Protected in a Corporate Bankruptcy?

May 4th, 2019


When Sears went bankrupt and the employees discovered they wouldn’t get their full pensions, there was an understandable outcry, and many people has …

243 – 6 Skills to Succeed in Business and Avoid Debt Problems

April 27th, 2019


Debts arising from the failure of a business is a common reason that someone may have to file a personal bankruptcy.

That’s not surprising; you borrow money personally to invest in a business, it doesn’t work out, …

242 – Spotting Bad Credit Advice on the Internet

April 20th, 2019


There is a lot of bad credit and debt advice out there.  We see it on YouTube, and Twitter, and Reddit, and in personal finance blogs.  And it seems …

241 – Why I Don’t Like Free Credit Scores

April 13th, 2019


Getting a copy of your credit report and credit score for free, from one of those "credit monitoring" services, can be very expensive.

On today's show I rant about why I don't like those services, and I give practical …

240 – Can a Collection Agency Take Me to Court?

April 6th, 2019


Today’s episode is a quick “Technical Tidbits” edition where we answer one question from our listeners.

The short answer is yes, it is possible for a …

239 - Federal Budget 2019: Will It Help Millennials in Debt?

March 30th, 2019


On today's show we discuss the proposed changes in the federal budget, including help for new home buyers, and explore whether or not these changes will actually help millennials and others.

238 – Millennials & Debt - No Room to Maneuver

March 23rd, 2019


Every year, we analyze information we collect about our clients to develop an updated profile of the average person filing insolvency. We call this …

237 – Managing Money on a Variable Income

March 16th, 2019


Budgeting for bill payments and saving can be a straightforward process when you have a regular, consistent paycheque. But how do you stay on top of …

236 – Take The Blame And Shame Out Of Debt Repayment

March 9th, 2019


In over 20 years helping Canadians eliminate their debt, I've yet to hear a single client say they chose to have debt problems. Debt accumulates over …

235 – What to Know About Credit Cards So You Use Credit Wisely

March 2nd, 2019


When used correctly, a credit card is a helpful tool to build your credit history, and it's a safer than carrying cash. However, when mismanaged, a …

234 – 4 Personal Finance Ratios That Measure Your Debt Risk

February 23rd, 2019


Many people we meet are surprised to find themselves so far behind financially they can no longer pay their bills. The problem with debt is that it creeps up on us slowly.  Today we are going to take a lesson from the …

233 – Want to Beat the Bank? Understand the Basics

February 16th, 2019


Whether you are a borrower or a beginning saver, the best way to beat the bank at its own game is to learn some basics so you can make a better decision.  I talk with Larry Bates, author of Beat the Bank, as he shares …

232 – Are Not-For-Profit Credit Counselling Agencies Now Just Debt Collectors?

February 9th, 2019


A debt collector does just what the name suggests: they collect on unpaid debt. They won't review all your debt relief options with you or give you a …

231 – Think Twice Before You Get a Home Equity Line of Credit

February 2nd, 2019


A home equity line of credit (HELOC) is a loan secured by the equity in your house. A HELOC is often presented as a great borrowing tool because …

230 – Should I Sell My Assets to Pay Off Debt?

January 26th, 2019


If you can sell your assets, pay the taxes (there’s a tax hit when you cash in an RRSP), and have enough to pay off your debts, it may make sense to sell your assets to pay off your debt.  But, if your assets won’t …

229 – Will I Lose My Inheritance in a Bankruptcy?

January 19th, 2019


Whether your inheritance is included in a bankruptcy depends entirely on when you become entitled to receive the proceeds. As this is a complex issue, I talk with Ted Michalos and we take a detailed look at bankruptcy …

228 – Buying and Maintaining an Affordable Car

January 12th, 2019


The best way to control your auto expenses is to buy a car you can afford.  This keeps your monthly car loan payments low (since you borrow less) and …

227 – Getting Out Of Debt Requires A System, Not Just A Goal

January 5th, 2019


Every financial guru says that achieving success starts with setting a goal.

I disagree.  While there is some benefit to setting goals, you are more likely to achieve success if, instead of focusing on goals, you have a …

226 – Consumer Debt Crisis is Looming: Predictions for 2019

December 29th, 2018


It’s been a long time coming, longer than Ted Michalos and I predicted in our past year-in-review podcasts. We predicted that 2014 and 2015 consumer …

225 – Should You Use Your Bonus To Pay Off Debt?

December 22nd, 2018


If you just earned a bonus from your employer or received an unexpected sum of money, how should you use that bonus if you also have debt? On …

224 – Chatbots: Helping Your Finances or Up-selling?

December 14th, 2018


Financial technology, or fin-tech, has come a long way. Much more than just a budgeting app, now you can do your banking, money management, investing …

223 – Christmas Etiquette When You're Dealing With Debt

December 8th, 2018


When you have debt, Christmas is a stressful time. With pressure to spend on family, friends, co-workers, and maybe even your barber, the season …

222 – Protecting Yourself Financially for Unexpected Life Events

December 1st, 2018


The death of a spouse and divorce bring an emotional burden, but sadly such catastrophic events also create financial consequences.  In fact, the …

221 – Retraining for a Second Career while Dealing with Debt

November 24th, 2018


If you are out of work or laid-off and need to upgrade your skills to improve your employment potential, how can you do this without incurring more debt? The Ontario government has a Second Career program that offers …

220 – The Cold-Hard Truth About Unlicensed Debt Consultants

November 17th, 2018


Indebted Canadians pay at least $24 million a year for what is often unnecessary debt advice. How does this happen? Well, when you have overwhelming debt, you're not just thinking about the money. There's also an …

219 – Avoiding Debt Problems After a Personal Injury

November 10th, 2018


Being injured or in an accident can have broad reaching financial implications. In addition to the costs of care, you can lose income if you are off work and may incur additional legal costs. Finding ways to recover …

218 – A Three-Pronged Approach to Financial Literacy

November 3rd, 2018


This year marks the 8th Financial Literacy Month in Canada, which begs the question: has our financial literacy improved in eight years?  Total …

217 – Why You Want to Avoid Debt at Every Age

October 27th, 2018


Whether you are about to start your post-secondary education, start a family, or are headed for retirement, debt problems can happen at any age. While the average person who files for bankruptcy in Canada is in their …

216 – Should You File Bankruptcy in Canada if Living Abroad?

October 20th, 2018


If you owe a debt in Canada, but live elsewhere in the world, should you ignore past due Canadian debts you can't afford to pay, or can you file …

215 – What is a Robo-Planner? Automated Financial Planning

October 13th, 2018


The use of computer technology to manage money continues to explode across the financial services industry. Enter the robo-planner. The question is …

214 – Should You Have a Joint Bank Account?

October 6th, 2018


A joint bank account is an account that allows two or more parties to each deposit, withdraw and manage funds in the account. Whether or not it's a good idea to get a joint account with your spouse, a friend or any …

213 – Investment Selling is Not Financial Planning

September 29th, 2018


Current regulations allow financial advisors to sell products like mutual funds and give the appearance that they are giving you financial advice …

212 – Walking Away From A Mortgage in Canada

September 22nd, 2018


If you are over-mortgaged and facing negative equity in your home, can you walk away from your mortgage in Canada?  We explain what you can do if there is a shortfall on your mortgage after a sale or bank foreclosure.

211 – Are You Having a Personal Financial Crisis?

September 15th, 2018


A recent Twitter headline claimed that actor Charlie Sheen is having a 'dire financial crisis' with less than $10 million to his name. While that might be a bit extreme, no matter how much money you have, if you have …

210 – What is Financial Hardship for Student Loans?

September 8th, 2018


Student loans are only automatically discharged when you file bankruptcy in Canada if you have ceased to be a student for more than seven years at the time you file.   However, there are cases in which clients cannot …

209 – Welcome to Season 5 of Debt Free in 30

September 1st, 2018


September is a time for a fresh start. The kids are back in school, everyone’s back to work after their summer vacations, and it’s a whole new season …

208 – REBROADCAST: The 80/20 Rule of Money Management

August 25th, 2018


On today’s final rebroadcast of the summer, I give my thoughts on how to manage your spending without a budget, and I explain how the 80/20 rule, …

207 – REBROADCAST: Which Debts Should You Pay First?

August 18th, 2018


For the month of August we are replaying the most downloaded podcasts of the past year; not surprisingly, the first two rebroadcasts were about debt, and so is this one.

Originally broadcast back in January, on this …

206 – REBROADCAST: How to Pay Down Massive Debt

August 11th, 2018


It’s the month of August, and we are replaying the most downloaded episodes from the past season of Debt Free in 30.

This episode was inspired by all of those personal finance bloggers who love to write stories about …

205 – REBROADCAST: Minimum Payments on Credit Cards are Keeping You in Debt

August 4th, 2018


As is our tradition here at Debt Free in 30, during the month of August we rebroadcast the most popular episodes of the past year.

Today’s episode is …

204 - What a Tesla Bankruptcy Can Teach You About Personal Finance

July 28th, 2018


On today’s show, recorded in July, 2018, I give my thoughts on what the bankruptcy of Tesla Inc., the electric car company, can teach us about how we …

203 – Why You Should Bank at More Than One Bank

July 20th, 2018


There's a saying that you shouldn't put all your eggs in one basket, and this rings true for bank accounts. While it is convenient to have all your …

202 – What Happens in Bankruptcy Court?

July 14th, 2018


There's no need to worry. Bankruptcy court is not something that every bankrupt has to go to when they file for bankruptcy. If you complete all your duties and no one objects, you are automatically discharged from …

201 – How to Improve Your Financial Wellness

July 7th, 2018


You know you need to improve your financial health. You might even know what you need to do - save more, spend less, pay down debt. So why does that not necessarily translate into healthy financial habits that move the …

200 – Is Bankruptcy Morally Wrong?

June 30th, 2018


For as long as debt has existed, society has judged people for failing to pay it back. Over the years, I've heard hundreds of honest, but unfortunate debtors tell me they are stressed out because they believe they have …

199 – The Diderot Effect: How to Get Out of a Spending Spiral

June 23rd, 2018


What causes us to spend beyond our means? While in some cases it's the result of a job loss or illness, in other situations, it's the Diderot Effect …

198 – How to Find a Credible Financial Planner with Jason Heath

June 16th, 2018


Did you know that in Ontario, anyone can call themselves a financial planner? With this in mind, how can you make sure that you are getting expert …

197 – Reviving a Consumer Proposal

June 9th, 2018


Repaying debt requires a stable income. Even when you're in a debt relief plan like a consumer proposal, you need money coming in each month to make your payments. But what if you are faced with a sudden job loss and …

196 – Save Money with Recipes from Cashflow Cookbook

June 2nd, 2018


What if you could approach personal finance like most of us try cooking? Instead of learning a bunch of rules and principles, all you'd have to do is …

195 – Is a Bad Credit Score Good for You?

May 26th, 2018


Credit scores are a way for a lender to assess how well you handle debt.  To be able to set a credit score, the credit bureaus need information about credit use. This leads to a strange principle behind credit …

194 – What Information Is On Your Credit Report?

May 19th, 2018


Your credit report is a report card on your credit activity. While you can get a free copy of your credit report from many sources, not all credit …

193 – How to get an Affordable Divorce

May 12th, 2018


Divorce can be expensive. In my experience, it's also one of the many causes for insolvency. The reason for this is when you are living together, you …

192 – Second Mortgage or Interest-Free Consumer Proposal?

May 5th, 2018


Once upon a time, if you had a lot of credit card debt and owned a home, you could get a second mortgage to consolidate and pay off your debt. …

191 – Pay Off Debt First or Follow Your Passion?

April 28th, 2018


As a Licensed Insolvency Trustee, I'll always advise that you prioritize debt repayment. Why is it important to pay off debt first? So that you are …

190 – The 80/20 Rule of Money Management

April 21st, 2018


Money management is hard. That’s why so many people don’t do it. Over the years at many credit counselling sessions with clients I’ve explained budgeting, and spreadsheets, and budgeting apps, and lots of other …

189 – Can Blockchain Technology Save the Credit Scoring System?

April 14th, 2018


I've said it before: when it comes to credit rating agencies like Equifax or TransUnion: You are not their customer. You are their product. Your data and loan history are for sale to any lender who is willing to pay for …

188 – Why More Women are Filing Bankruptcy

April 7th, 2018


In our latest bankruptcy study, we discovered that over the last 5 years women have been filing for bankruptcy in higher numbers. In 2012, 42% of …

187 – Advice for Tenants Renting a Property

March 31st, 2018


How can you find a good place to rent, even if you have damaged credit?  Today’s guest runs her own property management company, and she gives us the inside scoop on how to find a good place, and how to convince the …

186 – Why It's Difficult to Prevent Online Fraud

March 23rd, 2018


Credit card fraud affects many stakeholders. It's damaging not only to consumers, but also to merchants and financial institutions. In addition to …

185 – 3 Types of Bankruptcies We Expect in 2018

March 17th, 2018


At the end of last year, Ted Michalos and I predicted three types of bankruptcies we expected to see more of in 2018:

  1. People will be denied for debt …

184 – Debt: Why is No-One Listening?

March 10th, 2018


Household debt to income levels in Canada continue to rise. We now owe $1.71 for every dollar earned. But, with no shortage of experts discussing the …

183 – A Balanced Look at the Real Estate Market

March 3rd, 2018


Talking real estate isn't a first for the Debt Free in 30 podcast. We've had many experts like Hilliard Macbeth, Ben Rabidoux, and Alex Avery provide their insight on whether renting is better than buying and vice versa.

182 – Why Payday Loans Won’t Go Away

February 24th, 2018


In early February, we released updated research that shows 3 in 10 Ontario insolvencies involve payday loans. Payday loans have been a fairly …

181 – The Rule of 72

February 17th, 2018


On more than one occasion, we've said that compound interest is great for savings, but terrible for debt. On today's show, Ted Michalos shares a …

180 – How to Use Loyalty Programs to Balance Your Budget

February 10th, 2018


With the launch of the new PC Optimum program, we're taking the opportunity to examine just how Canadians can make the most of loyalty cards and points programs. While there are advantages to in-store reward programs, …

179 – Talking Debt with Scott Terrio

February 3rd, 2018


Trying to make debt an everyday topic is difficult. What’s more, most people who are in my line of work have an accounting background. As such, …

178 – How to Pay Down Massive Debt

January 27th, 2018


You hear the stories about the person who paid off $100,000 in debt in just 3 years; sounds great, but how did they do it, and is that realistic for the average person?

The short answer is no, if you earn $25,000 per …

177 – Minimum Payments on Credit Cards are Keeping You in Debt

January 19th, 2018


If you think your finances are under control because you're keeping up with minimum monthly payments on credit card debt, think again. To become debt …

176 – The Wealthy Renter with Alex Avery

January 13th, 2018


We hear the same thing repeatedly. If you rent, you’re throwing away your money. Why? Because you have nothing to show for it at the end of the month. On the other hand, if you own your home, you’re paying down your …

175 – Which Debts Should You Pay First?

January 6th, 2018


Because it's not the level of debt that causes the problem necessarily. It's whether or not you can service it. On show #174, we gave the example of someone with a $500,000 mortgage and 25-year amortization. If the …

174 – Seeds of a Debt Crisis: 2017 Debt Statistics and 2018 Predictions

December 30th, 2017


What will happen in 2018 that could water the seeds of a financial crisis? Ted Michalos and Doug Hoyes believe there are three big stories to watch …

173 – How To Avoid Being House Poor

December 23rd, 2017


On today’s podcast we explain how, even though your house may have increased in value, if you don’t have enough cash to meet your monthly expenses, you are house rich but cash poor.

We give four tips to avoid being …

172 – The Perfect Christmas With Heather Cudmore

December 16th, 2017


Every year, the focus of the holiday season is on consumerism and the need to spend money on the perfect gifts, the perfect decorations and creating …

171 – Never Loan Money to Family and Friends

December 9th, 2017


Should you ever loan money to family and friends? It’s a tough question. Some of you might say, “sure, why not?” And others might think, “Maybe just …

170 – 10 Personal Finance Books That Make Great Gifts

December 2nd, 2017


On today's show, I review 10 personal finance books that would make great gifts and/or would be a great start to your own personal finance library. …

169 – Let's Call a Spade a Spade: Credit is Debt

November 25th, 2017


Have you ever wondered why a credit card isn’t called a debt card like it should be? Think about it. That’s what a credit card really does – it gives …

168 – Wage Garnishments: What Income Can be Garnisheed?

November 18th, 2017


On today’s show we discuss the different forms of income that can be garnisheed (or not).  Here are the types of income, with the time stamp if you …

167 – Expert Disagrees With My Opinion on Credit Scores

November 11th, 2017


How important is your credit score?  In my book, Straight Talk on Your Money, on page 48 I discuss the “Credit Score Scam”, and on page 52 I say that …

166 – Financial Literacy Needs More Thinking and Less Emphasis on Math

November 4th, 2017


November is financial literacy month in Canada, and for the seventh straight year the government will encourage Canadians to:

take concrete actions to better manage their money and debt, including making a budget, …

165 – Do I Lose My RDSP If I Go Bankrupt?

October 28th, 2017


Registered Disabilities Savings Plans are geared towards helping families and individuals who are living with a disability. RDSPs can only be setup for someone who is eligible to receive the Disability Tax Credit.

If …

164 – Why a House Does Not Guarantee Financial Security

October 21st, 2017


Everyone thinks that a house provides both stability and financial security, but on today's show, we'll explain why that is not always the case.

It is true that if you live in the same home for many years, you have …

163 – Life Happens and Not Always The Way We Expect

October 14th, 2017


In some cases it is your fault, if your debt was a result of reckless spending but, in my experience, most people get into trouble because "life …

162 – Here's How You Can Get Ready for Higher Interest Rates

October 7th, 2017


There are recent interest rate increases from the Bank of Canada that will affect many Canadians. But the question of the day is: Do you know how a 1% interest increase will affect your budget?

Today's guest is here to …

161 – Debt Should Come With a Health and Safety Warning

September 30th, 2017


On today's show, I discuss the news that data from Equifax was "hacked". It appears that "only" 100,000 Canadians were impacted, but even if your data was not impacted by this event, it's a good wake-up call for all of …

160 – Laid Off at Age 47

September 23rd, 2017


For more than a decade the "go to" source for Canadian personal finance information has been the Canadian Personal Finance Blog operated by Alan Whitton, more commonly known as the Big Cajun Man (listen to the show to …

159 – How Our Emotions Can Lead to Debt Problems

September 16th, 2017


Over the years I have had hundreds of clients who financed a house, or a car that ended up being more expensive than they could afford, and that one …

158 – Is Your Student Debt Sustainable?

September 9th, 2017


Student loan debt is a massive problem in Canada.  The average student loan debt resulting from a four year degree program is over $26,000, and a …

157 – Introduction to Season 4: We Are Not Netflix, but…

September 2nd, 2017


Welcome to the first show of Debt Free in 30 Season #4. I know this isn't a TV show, and you're not supposed to have "seasons" on a podcast, but I think seasons are a good way to organize what we do here on Debt Free in …

156 – Straight Talk On Your Money

August 26th, 2017


The book is called Straight Talk on Your Money – The Biggest Financial Myths and Mistakes

155 – REBROADCAST: Burn Your Mortgage with Sean Cooper

August 19th, 2017


For our final rebroadcast of the summer, we are rebroadcasting our most downloaded show from the past year.  Sean Cooper returns to the podcast today …

154 – REBROADCAST: How One Man Retired Debt-Free at Age 48

August 12th, 2017


This is a special rebroadcast of one of our most downloaded shows: it’s my father-in-law, telling me how he retired at age 48, and has now been retired for longer than he worked at his job!  If you are like most …

153 – REBROADCAST: Everything you were Afraid to Ask About Debt

August 5th, 2017


As we continue to rebroadcast our top downloaded shows this summer, today we replay our first ever Debt Free in 30 broadcast LIVE on video, over YouTube.  The response was fantastic. We asked our listeners to leave us …

152 – REBROADCAST: Why We Expect Tighter, More Expensive Mortgage Markets

July 29th, 2017


When this show first aired back at the end of November, 2016, the real estate markets were booming, and mortgages were easy to get, but my guest, Ben Rabidoux, had some very specific predictions.

First, he predicted …

151 – REBROADCAST: The Canadian Economy and Household Debt

July 22nd, 2017


Today’s show is a rebroadcast of a show that first aired in October, 2016.

My guest is David Bond, who has a PhD in Economics from Yale University, and he makes a number of interesting points.  We discuss the high level …

150 – Bankruptcy Myths with Leigh Taylor

July 15th, 2017


We just celebrated Canada's 150th birthday and this is Debt Free in 30 episode number 150 so to celebrate both of these milestones I'm bringing back …

149 – REBROADCAST: Why You Should Never Loan Money To Family and Friends

July 8th, 2017


This is a special rebroadcast of show #111, originally aired on October 15, 2016.

We all want to help when someone is in trouble. But helping someone out of financial trouble can come with unexpected costs and …

148 - 10 Tips for Dealing with CRA and Tax Debts

July 1st, 2017


There's a growing number of people owing money on their tax debts. This is in part because more people are self-employed, or have more than one job, …

147 – Dealing with Gambling Debt

June 24th, 2017


Debt doesn't start out as an obvious problem. For many people, lack of personal finance knowledge leads them to make poor decisions with their money. Once you figure out how easy it is to get credit, you start spending …

146 – Why Minimum Wage is not a Living Wage

June 17th, 2017


As Licensed Insolvency Trustees, our clients tell us how difficult it is to live on minimum wage.  That’s why they often have no choice but to use …

145 – Poverty Reduction: What Can We Do? – With Tom Cooper

June 10th, 2017


We know from our Joe Debtor study that the average person in Ontario who files a consumer proposal or bankruptcy has an income that is almost 40% lower than the median income in Ontario. Low or sporadic incomes make it …

144 – Seniors and Debt: More Trouble Ahead?

June 3rd, 2017


The number of seniors filing insolvency is growing. Many seniors have the honest intention of paying back whatever debt they accumulate. That would …

143 – Debt Consultants: Avoid the Extra Cost

May 27th, 2017


For the first time ever, the federal government just issued a BOMBSHELL report, saying that it appears that two very large debt consulting firms in …

142 – Homeowners Banking On Your Home Equity

May 20th, 2017


As you may remember, we published our Joe Debtor study at the end of March 2017. This study takes place every two years and analyzes data from …

141 – How Car Loans Can Lead to Insolvency

May 13th, 2017


There are two major purchases we make in our life that we typically use debt to purchase. The first (no surprise here) is our home, and the second is …

140 – Banks Behaving Badly, Who To Trust, and Has Toronto Real Estate Peaked?

May 6th, 2017


Welcome to the third round table edition of Debt Free in 30, recorded in person at the Hoyes Michalos offices in downtown Toronto, so you can listen to the audio, or watch the video on YouTube.

My guests today are all …

139 – Seniors and Finance With Vanessa Benedict

April 29th, 2017


Many seniors are finding it increasingly difficult to make ends meet. Our 2017 Joe Debtor study showed that the total number of debtors who are …

138 – Financial Stress Facing Single Parents

April 22nd, 2017


Struggling financially is difficult for anyone. It can be exceptionally stressful if you're a single parent trying to juggle your finances, work, and …

137 – News You Can Use April 2017

April 15th, 2017


Welcome to the second edition of our Debt Free in 30 News You Can Use round table. Our first one aired in January 2017 and covered Walmart vs. VISA, 2017 Debt Repayment Predictions, Bank of Canada Warnings and Paid …

136 – Thinking Ahead and Planning For Your Future

April 8th, 2017


My guest today is Shamez Kassam, a financial advisor based in Calgary who has just published his first book, Your Money’s Worth: The Essential Guide to Financial Advice for Canadians.

Shamez wanted to write a book that …

135 – The Economic Reality of Vulnerable Debtors

April 1st, 2017


Earlier this week, our firm Hoyes, Michalos & Associates launched our 2017 study of Joe Debtor. Joe Debtor is a report on the average insolvent …

134 – The Money Mindset of a Hoyes Michalos Client

March 25th, 2017


On Debt Free in 30 I interview many debt experts, but I don't often have the opportunity to speak with someone who has actually dealt directly with their own debt issues. We have conversations with clients every day, …

133 – The Financial Impact of Becoming the CEO of Everything

March 18th, 2017


My guest on show #131 was Victoria Ryce, co-author, with Gail Vaz-Oxlade, of a new book, CEO of Everything: Flying Solo and Soaring, that deals with …

132 – Fraud in 2017: Romance, Phishing, and CRA Scams

March 11th, 2017


In 2016 the Canadian Anti-Fraud Centre (CAFC) received 77,348 mass marketing fraud complaints with a total reported dollar loss of $99,198,188. …

131 – How to Master Being Suddenly Single

March 4th, 2017


How could you cope if, due to divorce or the death of your partner, you became suddenly single?

That question is the theme of a new book, CEO of …

130 – Yes, We Have A Payday Loan Crisis

February 25th, 2017


We have a crisis and it's called payday loans. At Hoyes Michalos we believe payday loans are a real problem because all too often they create a vicious cycle of debt. We also don't believe that recent efforts by the …

129 – Burn Your Mortgage with Sean Cooper

February 18th, 2017


Sean Cooper returns to the podcast today to talk about his new book, Burn Your Mortgage, to be published on March 1, 2017.  Sean worked up to 80 …

128 –Ontario Limitations Act and Old Debts

February 11th, 2017


Is it true that if you just ignore an old debt it will go away? Not exactly. There are a few misconceptions about the Ontario Limitations Act. This …

127 – Surviving Job Loss with David Trahair

February 4th, 2017


Losing a job is very difficult. Whether you're a single adult or have a family that relies on your pay cheque, job loss can be devastating. The most …

126 – News You Can Use – January 2017

January 28th, 2017


Welcome to a special edition of Debt Free in 30. This week, instead of featuring one industry expert we're giving you four (including myself, of course). In today's show our panel of experts will answer questions on …

125 – How One Man Retired Debt-Free at Age 48

January 21st, 2017


If you are like most Canadians, you dream of a long and enjoyable retirement. Is it possible to retire early and achieve that by the age of 48?  While it is an anomaly, my guest today did just that.

Bob Lassaline worked …

124 – Advertising Tricks: What We Can Learn From Donald Trump

January 14th, 2017


This is our last show before Donald Trump officially becomes the President of the United States of America. That’s a scary thought for many people. I have no opinion on whether he will be a great President or a great …

123 – What it Means to Have U.S. Debts in Canada

January 7th, 2017


Canadians have always had a strong relationship with our southern neighbours. We escape the winter, they explore new places, and we support each other's economy. We also partake in cross-border shopping. Americans hop …

122 – Annual New Year’s Prediction Show

December 31st, 2016


2016 was a year we won't soon forget, and early indications are that 2017 will also be very eventful, so it's time to review the events of 2016 and …

121 – Brother, Can You Spare a Dime?

December 24th, 2016


It’s the holiday season, so today we have no industry experts, and we won’t talk about numbers.  Instead, our focus is on real people with real …

120 – Gender Bias in Financial Preparedness

December 17th, 2016


Our guest today is Georgia Graham, Programs Manager of WEST (Women's Enterprise Skills Training). Their mission is to improve the employability of women in Windsor-Essex County.

WEST completed their own study which …

119 – Privatize CMHC? A Politician Says Yes

December 10th, 2016


My guest today is Michael Chong, the Member of Parliament for the federal riding of Wellington-Halton Hills, and an advocate for the privatization of the Canada Mortgage and Housing Corporation.  First, some background:

118 – Who Will Know I Filed Bankruptcy?

December 3rd, 2016


It is understandable that when you are experiencing financial problems you don't want that information broadcast to your friends, family and co-workers. This is a concern raised by many potential clients which brings us …

117 – Why We Expect Tighter, More Expensive Mortgage Markets

November 26th, 2016


There is a lot of chatter surrounding Canadian real estate, housing prices and mortgage rates.   Vancouver sales have started to drop but not in Ontario. Is there a housing bubble in Ontario? When will it burst?  Part …

116 – Should the Grade 10 Career Studies Course Include Financial Literacy?

November 19th, 2016


Does financial literacy belong in high schools? This question is surfacing more and more as Canadians dig themselves further into debt. Today's guest …

115 – What Happens to Air Miles Points if You Go Bankrupt?

November 12th, 2016


Air Miles has been in the news a lot lately about their new points expiry policy. Maybe it's because of the media attention, but we have had a lot of …

114 – Basic Income: Is it a Silver Bullet for Poverty?

November 5th, 2016


Everyone wants to end poverty.  The controversy begins when you start talking about how to solve the problem. One solution which has received a lot …

113 – Mogo Loans: Are They A Good Deal?

October 29th, 2016


My guest today is Kerry Taylor.  Her website, Squawkfox,  was voted Canada’s best money blog by the Globe & Mail in 2010, and in 2014 Chatelaine

112 – The Canadian Economy and Household Debt

October 22nd, 2016


We're living in very different times in terms of our economy. To help us explore this topic further I talked with economist David Bond about how the …

111 – Why You Should Never Loan Money To Family and Friends

October 15th, 2016


We all want to help when someone is in trouble. But helping someone out of financial trouble can come with unexpected costs and consequences. It is for that reason that I strongly advise against ever loaning money to …

110 – Is the Sky Falling?

October 8th, 2016


On October 3, 2016 Finance Minister Bill Morneau announced big changes to Canada’s mortgage lending rules, designed to make it more difficult for …

109 – Should I Use My RRSP to Pay Off Debt?

October 1st, 2016


This is a common question, and changes to the law have changed the answer from what we would have advised a few years ago.

The answer depends on:

108 – Victory Lap Retirement with Jonathan Chevreau and Mike Drak

September 24th, 2016


Today’s podcast is the first ever podcast interview with Jonathan Chevreau and Mike Drak together, talking about their new book Victory Lap Retirement.  This is so exclusive an interview that the book won’t even be …

107 – LIVE: Everything You Were Afraid to Ask About Debt

September 17th, 2016


For the first time ever Debt Free in 30 broadcast LIVE on video, over YouTube.  The response was fantastic. We asked our listeners to leave us questions through sound clips, email, twitter and Facebook in advance of the …

106 – Why is Walmart Really Fighting Visa?

September 10th, 2016


In June 2016 Walmart Canada announced that they believe interchange fees charged by Visa are too high, so, starting with their three stores in …

105 – SPECIAL ANNOUNCEMENT – Season 3 Premiere

September 3rd, 2016


SPECIAL ANNOUNCEMENT: It's the start of Season #3 of Debt Free in 30, and I am excited to share that with our new season we have a new and improved format.

For two seasons Debt Free in 30 was both a radio show and a …

104 – BEST OF SHOW - Is the Canadian Housing Bubble about to Burst?

August 27th, 2016


This is our final "best of" show of the summer, and it's a doozy: my interview with Hilliard Macbeth (you can find the original show notes on our is the Canadian real estate bubble about to burst page) is the most …

103 – BEST OF SHOW - Change Your Debt Perspective With Robert Brown

August 20th, 2016


As I said on this show, Robert Brown's book Wealthing Like Rabbits contains the best first chapter in any personal finance book I have ever read. …

102 – BEST OF SHOW - Crushing Debt: Why Canadians Should Drop Everything And Pay Off Debt

August 13th, 2016


David Trahair is a CPA and prolific writer.  Today's show is a rebroadcast of his first appearance on Debt Free in 30, back in early 2015, where we …

101 – BEST OF SHOW - Should You Pay Down Debt, Or Invest In RRSP?

August 6th, 2016


Today's show is a rebroadcast from Season #1.  It's one of our most down-loaded shows, because it answers a common question: Should I pay down my …

100 – 30 Practical Tips To Avoid Debt

July 30th, 2016


Debt Free in 30 has broadcast 100 episodes over 2 seasons to thousands of listeners. In addition, I have interviewed many personal finance experts for their opinions on the debt issues that matter most to Canadians.

To …

99 – How to Fix the Payday Loan Industry

July 23rd, 2016


This past season, I have talked extensively with industry experts about payday loan solutions and alternatives. When I asked my guests from show 83, …

98 – BEST OF SHOW - 4 Easy Steps To Save Money Each Week With Nicole Olsen

July 16th, 2016


Today's show is a repeat broadcast of one of our most downloaded shows, with our guest Nicole Olsen, the Financial Literacy Program Director for 

97 – BEST OF SHOW: Is Making A Budget A Waste Of Time?

July 9th, 2016


Over the summer we will be airing rebroadcasts of our most downloaded shows.  Today's show features our most popular guest, and a mis-understood …

96 – Renting vs. Buying: What Makes the Most Sense?

July 2nd, 2016


Given today’s real estate market, it’s not surprising that the most popular podcast episodes of this year featured Hilliard MacBeth discussing his …

95 – How To Deal With Divorce And Bankruptcy

June 25th, 2016


Generally, money problems and financial problems go hand in hand. In fact, 28% of our clients were separated or divorce when they filed for …

94 – What Happens To Debt When House Prices Fall?

June 18th, 2016


Our guest on today’s podcast, Ben Rabidoux is the President of North Cove Advisors, a macro research firm that works with institutional investors like mutual fund companies, hedge funds, and pensions, providing a broad …

93 – Self Employed: Dealing with Business Debts

June 11th, 2016


As our economy in Canada has evolved so has the nature of most people’s employment. Downsizing and outsourcing has become more prevalent, stable jobs …

92 – High Interest on Payday Loans Not The Real Problem: Consumer Debt Is

June 4th, 2016


Payday loans are expensive. Lenders charge a ridiculously high interest rate and demand repayment in one balloon payment. Inevitably, this traps some …

91 – Consumer Proposal vs Bankruptcy – Which One is Right for You?

May 28th, 2016


If you are struggling with debt, how do you know which debt relief option is right for you? Both consumer proposals and bankruptcies have similar benefits, but the length and cost are different. On today’s podcast Ted …

90 – Planning for Retirement?

May 21st, 2016


Are you planning for retirement? Have you started to save? Do you know how much you need? If not, then today’s podcast is for you. My guest, David Trahair, stops by to discuss his new book, The Procrastinator's Guide …

89 – Is the Canadian Housing Bubble about to Burst?

May 14th, 2016


Is Canadian real estate due for a crash? On today's show, I speak with Hilliard MacBeth, a portfolio manager and author of When the Bubble Bursts: …

88 – Pay off debt, or invest?

May 7th, 2016


On today’s show we discuss a common question: if I have some extra money, should I pay off my debt, or use it to invest?  In some cases the answer is …

87 – What Happens if you stop paying your debts?

April 30th, 2016


Today I ask a question that generates a lot of debate on our Facebook page: what happens if you stop paying your debts? More specifically, what happens if you stop paying your debts and you are not in a consumer …

86 – How to Rebuild Credit: 5 Simple Steps

April 23rd, 2016


Often, I share advice about how to get out of debt and live debt free. But, what if you've already eliminated your debt and you're ready to get back on track? What's next? Today, I am going to share tips on how to 

85 – Is this the payday loan regulation we need?

April 16th, 2016


It’s no secret that payday loans charge an outrageously high interest rate. In Ontario, they can charge $21 for $100. If you take out a new $100 loan …

84 – Tax Debt Help – Who Do You Call?

April 9th, 2016


It can be hard to know who to turn to when you are dealing with Canada Revenue Agency and you need tax debt help. Some situations are relatively …

83 – Creating A Better Payday Loan Industry

April 2nd, 2016


The payday loan industry in Canada loans an estimated $2.5 billion each year to over 2 million borrowers. Like it or not, payday loans often meet the need for urgent cash for individuals who can't, or won't, borrow from …

82 – Bankruptcy Trustees now called LIT in Canada

March 26th, 2016


On today's podcast we talk with Ted Michalos about the Office of the Superintendent of Bankruptcy and how they regulate the bankruptcy process, and …

81 – How To Pay Off Your Mortgage Faster with Sean Cooper

March 19th, 2016


A conventional mortgage today has a 25 year amortization, because the typical borrower wants, or needs, 25 years to pay off their mortgage.  So is it possible to pay off your mortgage faster?

Sean Cooper became a media …

80 – It’s Not Your Fault

March 12th, 2016


There are a number of personal finance personalities, especially on American radio and TV, who say that if you have too much debt it’s because you spent too much and you're the cause. After all, if you're actions aren't …

79 – Overcoming Drug Addiction and Debt

March 5th, 2016


There are many reasons people find themselves in debt. For our guest today, the underlying cause of his financial difficulties was drug addiction. …

78 – Ontario Bankruptcy Legislation Updates: The Execution Act & 407 ETR

February 27th, 2016


At the end of 2015, updates and clarifications were made to existing Ontario bankruptcy laws that directly affect indebted consumers. On November 13, …

77 – Change your Debt Perspective with Robert Brown

February 20th, 2016


Is it enough to calculate the amount of debt you have and focus exclusively on making that number smaller? I'm an accountant and a licensed …

76 – Are You Prepared For The Unexpected?

February 13th, 2016


Getting sick or injured is common and it can often mean missing work for a few weeks or for a prolonged period of time. To cover any missing income, 

75 – Tips to Protect Yourself from Identity Theft and Fraud with Kelley Keehn

February 6th, 2016


Fifty years ago if you wanted to steal money from someone you had to steal cash.  Today money is electronic, so if your identity is stolen you can …

74 – The True Cost of Debt With Meg Penstone

January 30th, 2016


Do we fully understand the cost of debt?  We see the ads for loans where you "only pay $20 on a hundred".  $20 sounds like a good deal, but is it?

On …

73 – You Are Not A Loan. You Are Not Alone.

January 23rd, 2016


When you think of debt, numbers and interest rates probably come to mind. But debt isn't always about the numbers. Our guest today is Melanie Lockert, a blogger at Dear Debt and someone who recently paid off $81,000 in …

72 – Is Making A Budget A Waste Of Your Time?

January 16th, 2016


 Budgeting. It's a word that people either love or hate (mostly hate).

We may get mixed reviews about the advice that I share on today's episode, but for many, budgeting is a waste of time. Budgeting takes discipline, …

71 – 4 Easy Steps To Save Money Each Week With Nicole Olsen

January 9th, 2016


The weekly trip to the grocery store is a big expense for a family, so saving money on food can go a long way.  But how do you save money?  Is the only way to save by clipping coupons and buying no-name brands?

There …

70 – Top Ten Tips for Dealing with Collection Agents

January 2nd, 2016


Today we present our top ten tips for dealing with collection agents.  We are joined by two industry insiders, Blair Demarco-Wettlaufer who on a …

69 – Best Money Apps

December 26th, 2015


In today's technology filled world there are more resources and tools available to us than ever before. Although the traditional pen, paper and …

68 – Christmas Budgeting Tips With Heather Cudmore

December 19th, 2015


Every year, the focus of the holiday season is on consumerism and the need to spend money on the perfect gifts, the perfect decorations and creating …

67 – How To Deal With Depression & Anxiety Over The Holidays

December 12th, 2015


The holidays are known for being a time of happiness and joy. But for those struggling with depression, anxiety or loss, the holidays can be a …

66 – Money Talks with Gail Vaz-Oxlade

December 5th, 2015


Gail Vaz-Oxlade is back on the show to discuss her new book, Money Talks: When To Say Yes And How To Say No. I'm excited to feature Gail as a guest this week because not only is her book due out this Tuesday, December …

65 – Why It's Important To Do Your Financial Research

November 28th, 2015


When shopping for financial products like mortgages, credit cards or GICs it's important to shop around. We spend time reading through reviews and prices for things like coffee makers, but as today's guest points out: …

64 – Privacy Laws and Collection Agents

November 21st, 2015


When it comes to privacy, organizations are required to follow federal and provincial legislation which prohibits the use of personal information in …

63 – There's Only Bad Debt & Not So Bad Debt

November 14th, 2015


In a past episode we talked to four industry experts about good debt vs. bad debt. Having listened to that episode, my guest today argues that there is no such thing as good debt, there is only bad debt and not so bad …

62 – Should We Teach Financial Literacy In High Schools?

November 7th, 2015


It's Financial Literacy Month here in Canada and to kick it off our guest today is retired math teacher of 30 years, educational speaker and …

61 – Scary Debt Stories

October 31st, 2015


As a trustee in bankruptcy, I meet with people every day who are struggling to pay off their debt. In the finance world, it's not uncommon to hear …

60 – Why Canadians Should Worry About Debt, Not Delinqency

October 24th, 2015


Interest rates are low and credit is readily accessible, making it easy to take on more debt. What's more is that debt becomes manageable in this kind of climate, until of course, it's not. This summer the Bank of …

59 – Debt and The Family with Nora Spinks

October 17th, 2015


On today’s show Nora Spinks, CEO of the Vanier Institute of the Family, explains why debt is very complicated in the family context.

When it comes to family debt, Nora explains that the majority of Canadians carry some …

58 – Student Loan Debt

October 10th, 2015


As the cost of higher education increases, so to does the amount of student loan debt for those graduating from university or college and …

57 – How Did They Find Me?

October 3rd, 2015


Today's guest is Blair Demarco-Wettlaufer, Managing Partner of Kingston Data & Credit, a collection agency servicing Canada and parts of the …

56 – What Is A Consumer Proposal?

September 26th, 2015


It's been over seven years since the Canadian government made changes to the Bankruptcy & Insolvency Act (BIA) in Canada to make bankruptcy more …

55 - How To Plan For Big Life Changes With Jessica Moorhouse

September 19th, 2015


Today’s guest is financial blogger and podcast host, Jessica Moorhouse from Mo' Money Mo' Houses We discuss how to make big life changes including …

54 – Senior Debt and the Need for Change with Susan Eng

September 12th, 2015


Today’s guest is Susan Eng, Vice President of Advocacy at CARP, an organization focused on helping seniors and future generations with issues like financial security. Susan explains that studies like our Joe Debtor …

53 – Clamping Down on Payday Loans

September 5th, 2015


It’s the start of season number two of Debt Free in 30, and we start this season like we started the first season: we let Ted Michalos rant about payday loans.

A lot has happened in the last year, and today talks about …

52 – BEST OF SHOW: Findependence with Jonathan Chevreau

August 29th, 2015


For the month of August we are rebroadcasting our most popular shows.

We're going to wrap up our "Best Of" summer series with a discussion we had …

51 – BEST OF SHOW: Clean Up Your Debt Mess

August 22nd, 2015


For the month of August we are rebroadcasting our most popular shows.

On today's rebroadcast we talk with Gail Vaz-Oxlade about how to build a …

50 – BEST OF SHOW: Gail Vaz-Oxlade – Why are you in Financial Trouble?

August 15th, 2015


Gail Vaz-Oxlade is one of the most popular financial experts for a reason. Her no holds barred approach is based on one consistent message: You need …

49 – BEST OF SHOW: Credit Counselling with Heather Cudmore

August 8th, 2015


Heather Cudmore is a credit counsellor with Carizon Family and Community Services in Kitchener, Ontario, and on today's show we discuss credit counselling.

Who does a credit counsellor work for?  Is it true that they …

48 – BEST OF SHOW: Seniors and Debt - Bag Lady Fears

August 1st, 2015


For the month of August we are rebroadcasting (with updated information) our most popular shows.

Dr. Lee Anne Davies, co-author of When Life Bites …

47 – BEST OF SHOW: How to Prepare Financially for Maternity Leave

July 25th, 2015


From now until Labour Day we are rebroadcasting (with updated information) our most popular shows.

Today’s guest is Christi Posner, a credit …

46 – How Are Certain Debts Affected In A Bankruptcy?

July 18th, 2015


On today's show I talk with Adam Rauf, a trustee in bankruptcy and consumer proposal administrator at the Hoyes Michalos St. Catharines and Niagara Falls offices. Adam receives many questions from his clients and came …

45 – What it Means to Go Bankrupt

July 11th, 2015


Trustee in Bankruptcy, Benny Mendlowitz answers the most pressing questions about paying down debt by filing bankruptcy. Benny is a trustee at Hoyes Michalos in charge of our Scarborough and North York offices and …

44 – 3 Common Questions About Bankruptcy with Joel Sandwith

July 4th, 2015


Today’s guest is Joel Sandwith, trustee in bankruptcy and consumer proposal administrator at Hoyes Michalos working out of our London and Sarnia offices. Normally we broadcast an FAQ show on the last Saturday of the …

43 – Student Loan Forgiveness and Bankruptcy Law – With Daniel Venoit

June 27th, 2015


Today’s guest is Daniel Veinot, a lawyer and partner at Duncan Linton in Waterloo, and we discuss student loan debts and how they are handled by bankruptcy law. Daniel discusses whether student loans are automatically …

42 – Is It A Good Idea To Get A Credit Card During Bankruptcy?

June 20th, 2015


Right now, interest rates are at record lows, benefiting those who have good credit. But what if  you don't have good credit or can't get credit at all?

Today’s guest is Jim Dunbar, the Managing Partner and Chief …

41 – A Different View Of Credit Counselling

June 13th, 2015


Richard Dunwoody has 30 years experiences providing consulting services to the financial services industry through AFO Venture Group. On today's show …

40 – Debt Settlement: New Laws and a Better Approach

June 6th, 2015


Before now, there really were no rules governing debt settlement companies in Ontario, which meant that they could charge large up-front fees, only …

39 – Joint Debt and Co-Signing. Am I Responsible For My Spouse's Debt?

May 30th, 2015


It's time for another FAQ podcast and today we talk about if and when you might be responsible for your spouse's debt and how one spouse filing bankruptcy might affect the other. 


To answer these questions we talk …

38 – Managing Debt in a Boom and Bust Economy with Ian Penney

May 23rd, 2015


Today’s guest is Ian Penney, President of Janes & Noseworthy in Newfoundland and Labrador.  Recently, oil prices have declined, affecting the finances of those who work and/or live in a boom-bust economy.  Alberta …

37 - What's The Right Way To Consolidate Debt?

May 16th, 2015


So you’ve got a bunch of debts.  You owe money on three different credit cards, and a payday loan, and you still owe some money on an old cellphone …

36 - Who is Joe Debtor?

May 9th, 2015


On today’s show Ted Michalos and Doug Hoyes discuss the just released Hoyes Michalos study: Joe Debtor: Marginalized by Debt.

Canadians do not appear to be worried about high debt levels.  Interest rates are at record …

35 – Collection Agency Dirty Tricks

May 2nd, 2015


Today’s guest is Mark Silverthorn, who was once the most prominent collection agency lawyer in Canada, sending out 10,000 collection letters every …

34 – What Does it Really Cost to go Bankrupt?

April 25th, 2015


On today’s show Ted Michalos explains that bankruptcy isn’t free.  Even though you may have limited resources, it does cost money to go bankrupt.


Ted explains why it costs money, and how the concept of surplus income …

33 – Smart Ways to Pay Off Debt

April 18th, 2015


On today’s show Leigh Taylor, a bankruptcy trustee with LC Taylor and Associates in Winnipeg, gives his opinion on how to deal with debt.


He explains why cashing in your RRSP to pay off debt may not be a good …

32 – Should You Pay Down Debt, or Invest in RRSP?

April 11th, 2015


On today’s show Vikram Barhat, a finance writer whose work has appeared in The Globe & Mail, BBC, and Morningstar Canada, answers a common …

31 – How to Get a Mortgage after Bankruptcy

April 4th, 2015


On today’s show we talk with mortgage agents Michael Smele and Bev Gay about whether it's possible to get a mortgage to buy a house after, or even during, a personal bankruptcy or consumer proposal.  They each give …

30 – An In-depth Look At Tax Debt Solutions

March 28th, 2015


Today’s guest is Ian Martin.  Ian is both a licensed Bankruptcy Trustee and Chartered Professional Account, and he also has seven years of experience working at Canada Revenue Agency.  As someone who understands both …

29 – Rob Carrick from the Globe and Mail

March 21st, 2015


Today's guest is Rob Carrick, the personal finance columnist for the Globe & Mail. When the Globe announced they were going to start a financial …

28 – Wage Garnishments – No Need to Panic

March 14th, 2015


Today’s guests are Rebecca Martin, Trustee in Bankruptcy and Consumer Proposal Administrator at Hoyes, Michalos & Associates Inc. and our co-founder, Ted Michalos. We talk about one of the biggest reasons people …

27 - How to Prepare Financially for Maternity Leave

March 7th, 2015


Today’s guest is Christi Posner, a credit counsellor and new mother.  Christ starts the show by telling us how, after graduating from university she had a lot of debt.  She got married, and she and her husband wanted to …

26 – Who Does What in a Bankruptcy and a Consumer Proposal

February 28th, 2015


Today our guest is Scott Schaefer, Chartered Accountant, Consumer Proposal Administrator, and Trustee in Bankruptcy at Hoyes, Michalos and Associates …

25 – Crushing Debt. Why Canadians Should Drop Everything and Pay Off Debt

February 21st, 2015


Today's guest is David Trahair, Chartered Professional Accountant and author of several books about personal finance including the book we talked …

24 – Good Debt vs. Bad Debt

February 14th, 2015


Today we answer the question: is all debt bad, or is there such a thing as good debt?

Our first guest is Par Foran from the CTV Television Network who gives his opinions (and not surprisingly he doesn’t believe that …

23 – Teaching Kids That Money Matters

February 7th, 2015


Our guest today is Robin Taub, a Chartered Professional Accountant, financial literacy consultant, public speaker, blogger, and author of The …

22 – Bankruptcy: When to File, Is it Morally Wrong, and Immigration

January 31st, 2015


Today’s first guest is Ian Martin, a bankruptcy trustee who explains that in many cases there is a “better” time of year to file a bankruptcy or consumer proposal.

Howard Hayes is our second guest, and he explains how a …

21 – Credit Reports, Credit Scores, & Rebuilding For The Future with Eric Putnam

January 24th, 2015


Our guest on today is Eric Putnam, Managing Director of Debt Coach Canada, and a former lending professional with 27 years in the consumer credit industry.


Eric explains how credit bureaus work, and who they work for …

20 - Stop The Collection Calls: Advice From Blair Demarco-Wettlaufer

January 17th, 2015


Our guest on today is Blair Demarco-Wettlaufer, a Managing Partner for Kingston Data & Credit, a Canadian debt collection agency. Blair gave us …

19 – Clean Up Your Debt Mess

January 10th, 2015


Our first guest is Gail Vaz-Oxlade who says it’s time to “stop whining about being in debt, you had your fun, you made a mess, now it’s time to clean it up, get busy.”  She provides a four step plan for cleaning up your …

18 – What’s Ahead for Debtors in 2015

January 3rd, 2015


On today’s show Doug Hoyes interviews Ted Michalos, and they offer their opinions  on the current state of the economy, and outlined several predictions for the coming year, touching on important financial topics such …

17 – Year End Wrap Up Show

December 27th, 2014


This is our final show for 2014, and as the holiday season ends and we move into 2015 we take a look back at some of the topics we’ve discussed here …

16 - Holiday Season Tip Show

December 20th, 2014


In our 2014 Holiday Season Tip Show, we invite back three of our most popular guests with some all new holiday season tips.

Dr. Lee Anne Davies gives …

15 – The Psychology of Money – Sarah Milton

December 13th, 2014


Today’s guest is Sarah Milton, author, blogger, and personal finance expert.

Sarah gave a great explanation of the four money personalities, and explained how we each have a money thermostat.  To improve your money …

14 – Wealthing Like Rabbits – Robert Brown

December 6th, 2014


Today’s guest is Robert Brown, author of a new book called “Wealthing Like Rabbits – An Original Introduction to Personal Finance”.  Robert gives us lots of practical advice, including his thoughts on house buying and …

13 - How to Go Broke - Barry Choi

November 29th, 2014


On today's show Barry Choi, a personal finance expert, gives his tips for going broke.

Tip #1 - Having too many credit cards.  Barry gives his views on how many are enough.

Tip #2 - Ignoring the interest you are paying …

12 – Challenges of Managing Money in a Booming Economy – Barton Goth

November 22nd, 2014


Today’s guest is Barton Goth, a bankruptcy trustee from Alberta who tells us that even in an economy booming due to the oil industry, personal debt is still a big problem.

Barton explains how even highly paid oil patch …

11 – Turning Debt Problems into Hope – Chris deVries

November 15th, 2014


Today’s guest is Chris deVries, a former banker who provides personal financial counselling to people of all ages.  He advocates a straight forward …

10 - Financial Literacy Starts with Being Suspicious - Ellen Roseman

November 8th, 2014


On today's show, Ellen Roseman, a Toronto Star columnist and consumer advocate, explains that we tend to get financial advice from people with a …

9 – Should the Government Promote Financial Literacy – Jane Rooney

November 1st, 2014


Today’s guest is Jane Rooney, Canada’s Financial Literacy Leader, who explains why she believes the federal government should take an active role in …

8 - Predatory Practices of U.S. Debt Settlement Companies – Blair Mantin

October 25th, 2014


On today’s show Blair Mantin, a bankruptcy trustee with Sands & Associates, British Columbia’s largest personal insolvency firm, discusses his …

7 – Not for Profit Credit Counselling vs. Debt Reduction Companies: What’s the Difference? – Sue Davey

October 18th, 2014


Today’s guest is Sue Davey, a credit counsellor with the Family Counselling Centre of Brant, who explains what credit counselling is, and what it costs.

Sue explains the differences between those debt reduction …

6 – RESPs and Debt – Mike Davies, Barton Goth, Ted Michalos

October 11th, 2014


On today’s show we have three guests.  Mike Davies is a financial planners with IPC Investment Corporation in Brantford, and he explains the RESP …

5 – Findependence – Jonathan Chevreau

October 4th, 2014


Jonathan Chevreau’s byline has appeared on the National Post for over 20 years writing about personal finance topics.  As he says in today’s interview:

“To me, debt is something to be dispensed with as soon as possible.”

4 - Credit Counselling – An Open and Honest Conversation – Heather Cudmore

September 27th, 2014


Heather Cudmore is a credit counsellor with Mosaic Counselling and Family Services, a program of Carizon Family and Community Services in Kitchener, Ontario, and on today's show we discuss credit counselling.

Who does a …

3 - Is Reality TV Real? – Gail Vaz-Oxlade

September 20th, 2014


Today's guest is one of the most well-known personal finance experts in Canada, Gail Vaz-Oxlade.

Gail was the host of three popular television shows:

2 - Seniors and Debt - Bag Lady Fears

September 13th, 2014


The fastest growing age group of people who declare bankruptcy are seniors.  How is that possible?  Isn't it true that seniors are the richest generation, benefiting from high real estate values and company pensions?

1 - Ted Michalos Rants About Payday Loans

September 1st, 2014


Host Doug Hoyes talks to Ted Michalos about the new Debt Free in 30 radio show and podcast.  In this first episode they discuss their plan for the show in the first segment.

In the second segment Ted explains his …

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