Debt Free in 30

For our final rebroadcast of the summer, we are rebroadcasting episode #452. We know rising inflation is tough on Canadians. If your budget is getting tighter, you may be tempted to use credit (debt) to make ends meet, but that may not be a good strategy. On today's podcast, Jennifer Kwon returns with some solid practical advice for what to do if you feel you're living paycheque to paycheque and t...

Today we rebroadcast episode #453. Online shopping isn't new. Apps are not new. But is shopping supposed to be a game? That's the angle a new shopping app called Temu appears to have taken. Since its launch in September 2022, the app has millions of monthly users, offers very deep discounts, and has strong incentives to keep users coming back. On today's podcast, Doug Hoyes takes a closer look at...

Today we rebroadcast episode #448. Most money experts will tell you that the best way to avoid money problems is to cut costs. And they're right. But what about also increasing your income? After all, you can only cut so much. We have seen a lot of people struggle with rising living costs, with a limited income, and needing debt to make ends meet. On today's podcast, Doug Hoyes and Ted Michalos di...

Originally aired at episode 450 on April 15, 2023, the Food Professor returns. Food is now more expensive than ever. But why? Is it just corporate greed? Or something greater? Enter Dr. Sylvain Charlebois, a.k.a. The Food Professor. Sylvain is a Professor and the Scientific Director at Agri-Food Analytics Lab at Dalhousie University. On today's podcast, he demystifies grocery pricing and explains...

In the season 9 finale episode of Debt Free in 30, Doug Hoyes and Ted Michalos discuss the current state of consumer insolvencies in Canada and why they're going back up. They also discuss the impact of inflation remaining higher than wage increases, higher credit card debt, and higher interest rates.  Where are we heading in the latter part of 2023? Has the recession begun? What can homeowners ex...

Buying a car has never been more expensive. But what if you have no choice but to buy one? How can you avoid buying too much car these days? On today's podcast, Ted Michalos and Doug Hoyes explain what's causing high car prices in both the new and used car categories, as well as, how to buy without taking out a huge auto loan. Tune in for lots of practical tips on shopping for a car and dealing wi...

Maybe you're tired of working for someone. Or you're looking to be your own boss. You may consider buying a business. It's not a bad idea, but just as there are advantages, there are also pitfalls you need to be aware of. Enter David Barnett. David is a seasoned expert in buying and selling small to medium-sized businesses. On today's podcast, David demystifies the process of buying a business and...

Your bank is a business, so they're always trying to sell to you because they want to make more money. How do you navigate their tricks? How do you avoid upsells when you just want to do a simple transaction? On today's podcast, Scott Terrio and Doug Hoyes discuss the pervasive sales culture at financial institutions, what you need to look out for, and teach you the basics to making better money d...

With nine interest rate hikes since March 2022, mortgage borrowers have either already started to feel the increased payment pressures or will at renewal time. So, what if your mortgage payments become too much to manage? How do you avoid risking your home? On today's podcast, Doug Hoyes and Ted Michalos give practical advice for what to do if you're struggling with your mortgage payments, includi...

We know it can be daunting to start your credit repair journey. We are often asked where to begin and what is the fastest way to rebuild. On today's podcast, Maureen Parent is back to answer some of the most common credit rebuilding questions and address fears and misconceptions about repairing your credit. Tune in for lots of great practical advice and recommendations on which tools to use.   Rel...

Self-employment has many advantages like you get to be your own boss, set your own hours, and even make more money. On the other hand, self-employment comes with challenges. Over the years, we've met with a lot of clients who were self-employed but became overwhelmed by unpaid tax debt. On today's podcast, Doug Hoyes and Ted Michalos break down what it means to be a self-employed person, explainin...

While bank failures are not a common occurrence in Canada, it may still be in your best interest to have more than one bank account. On today's podcast, Joel Sandwith, our LIT in London, joins Doug Hoyes to discuss banking best practices, including how many accounts you should have, where to store your savings, and why it's important to understand the right of offset if you owe your bank. They als...

The price at the gas pump includes a lot of hidden costs, and they are going up. How will this impact your budget? What does it mean for the future of car ownership? On today's podcast, Ted Michalos and Doug Hoyes discuss the hidden costs of gas and how the increase in some of the price components will mean you'll only be paying more to fuel your car. They also talk about the Ontario government's...

Tipping has always been a part of the dining experience. But lately, the expectation to leave a tip has become so common that we have to make it a new budgeting item. So how do you navigate tip creep? On today's podcast, we have a special guest, Sean Cassidy, who shares his experience with tipping prompts and how he's adapted his budget. Doug and Sean discuss why tip nudges are so prevalent post-C...

Everyone says you need an emergency fund. But how much is enough? And what is an emergency vs. an inconvenience? Where should you store your savings? Enter Maureen Parent. Maureen returns to share lots of practical advice on how to setup a realistic system to create your emergency fund. She also explains how much you should have saved at different stages, the types of emergencies to prepare for, a...

Say your bank offers you a credit limit increase. You may be tempted to take it, but should you? When is seeking more credit a sign that your finances aren't in good shape? On today's podcast, Mark Borysiak, our LIT in Barrie, joins Doug Hoyes to discuss just how much access to credit you should have and why getting an increase can cause debt problems. Mark and Doug also explain why the banks offe...

Online shopping isn't new. Apps are not new. But is shopping supposed to be a game? That's the angle a new shopping app called Temu appears to have taken. Since its launch in September 2022, the app has millions of monthly users, offers very deep discounts, and has strong incentives to keep users coming back. On today's podcast, Doug Hoyes takes a closer look at how Temu works and interviews users...

We know rising inflation is tough on Canadians. If your budget is getting tighter, you may be tempted to use credit (debt) to make ends meet, but that may not be a good strategy. On today's podcast, Jennifer Kwon returns with some solid practical advice for what to do if you feel you're living paycheque to paycheque and the dos and don'ts of using credit to get by. Jennifer and Doug Hoyes discuss...

According to TransUnion, the average credit consumer with a balance in Canada saw a 10% year-over-year increase in their minimum monthly debt payments in Q4 2022. If your minimum payments start going up, what should you do? What if they already have? On today's podcast, Maureen Parent returns to discuss why minimum payments increase in the first place, and practical advice on how to get ahead of t...

Food is now more expensive than ever. But why? Is it just corporate greed? Or something greater? Enter Dr. Sylvain Charlebois, a.k.a. The Food Professor. Sylvain is a Professor and the Scientific Director at Agri-Food Analytics Lab at Dalhousie University. On today's podcast, he demystifies grocery pricing and explains why food inflation is a global phenomenon. Sylvain also discusses the part the...

We are no strangers to inflation, with the cost of living soaring to new records. But what's really causing inflation? Where are our dollars going and what's the impact on the economy? On today's podcast, David Macdonald, a senior economist at the Canadian Centre for Policy Alternatives, returns to discuss his research on why we see inflation and who benefits. David also shares his thoughts on emp...

Most money experts will tell you that the best way to avoid money problems is to cut costs. And they're right. But what about also increasing your income? After all, you can only cut so much. We have seen a lot of people struggle with rising living costs, with a limited income, and needing debt to make ends meet. On today's podcast, Doug Hoyes and Ted Michalos discuss strategies for earning a high...

The last three years have been quiet for Canada Revenue Agency collections. But that has started to change in 2023 – which is bad news for Canadian borrowers already struggling with inflation and record rate hikes. On today's podcast Scott Terrio and Doug Hoyes breakdown how CERB, CRB, and CEBA loan repayments have impacted Canadians and small business owners, why 2023 is especially concerning for...

The Canadian government just announced a new Tax-Free First Home Savings Account (FHSA), which will launch on April 1, 2023. This new account gives first-time home buyers the ability to save $40,000 tax-free to put towards their first home. But don't we already have this program through RRSPs First Time Home Buyers Plan? And what about Tax-Free Savings Accounts (TFSA)? How do these savings vehicle...

Fraudsters and scammers look for every available opportunity to prey on you. How can you protect yourself? Enter Rachel Jolicoeur. Rachel is the Director of Cyber Market Intelligence & Financial Crimes at Interac, and she is back on the podcast with Doug Hoyes to share the top scams she's seeing in 2023, from renter scams to investment cons. Rachel shares lots of practical tips and helpful informa...