533 – Debt & Neurodiversity: Understanding the Connection and Finding Solutions
Release Date: 04/05/2025
577 – How to Break Free from the Minimum Payment Trap
Debt Free in 30
Making only the minimum payment on credit cards may feel manageable, but it’s one of the riskiest financial habits for Canadians today. Doug Hoyes and Ted Michalos explain the real math behind minimum payments and share practical strategies for breaking out of the cycle for good. 00:00 – Setting the stage: the shift from “getting by” to falling behind 02:30 – The math behind minimum payments 08:30 – Quebec’s new rules - will increasing minimum payments make a difference? 12:00 – Canada’s credit card landscape after the pandemic: the growing debt burden 17:05 – Red flags...
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576 – First-Time Homebuyer's Survival Guide: Avoid Hidden Costs & Regrets
Debt Free in 30
Are you considering stepping into the world of homeownership? This episode is packed with insights every first-time homebuyer needs. Doug Hoyes and Ted Michalos discuss why a declining market might benefit new buyers, the emotional traps leading to risky financial decisions, and the true cost of homeownership – beyond the mortgage. Learn how unexpected expenses (from land transfer taxes to home repairs) can derail your budget if you’re not prepared, the biggest regrets homeowners face, and how to avoid being “burned” by your first purchase. 00:00 - Why a declining market can be an...
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575 – Why Canadians Are Financially Struggling, Even When Doing Everything Right
Debt Free in 30
Staying financially stable in Canada has never been harder. Even when you’re working, budgeting, and “doing everything right,” rising insolvencies, higher debt loads, and a cooling housing market are leaving many Canadians struggling to stay afloat in 2025. If you’ve ever wondered why it feels impossible to get ahead financially (even when you’re trying your best!?), this episode helps explain the challenges in today’s economy and offers practical strategies to help Canadians move forward. 0:00 – Season 12 kicks off, Doug Hoyes and Ted Michalos discuss the future of DFI30 2:00...
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574 – Simple Shifts: Ways to Save More and Spend Less
Debt Free in 30
Looking to save more and spend smarter? This episode is packed with practical, expert-backed tips - from insider grocery hacks and avoiding hidden fees to smarter banking strategies. Learn how simple shifts, like opening a second bank account or using preloaded credit cards, can help you take control of your money and reach your financial goals faster. (01:00) Avoiding hidden service charges (04:00) Top Canadian grocery tips: Snacks vs. Groceries with The Food Professor (05:40) How preventive costs can save you big (09:45) Why you should open a second bank account (10:30) More grocery hacks...
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573 – The Best Get Out of Debt Advice from Top Guests (Compilation)
Debt Free in 30
Listen for great get-out-of-debt advice from some of our most popular guests! Featuring Canadian financial experts from Hoyes Michalos and Chris Enns, founder of and Danielle Park, author of From spotting predatory financial advisors to the importance of building an emergency fund, this episode is packed with practical, real-world tips and strategies you can start using today to get out of debt! 00:00 – The Snowball vs. Avalanche Method with Licensed Insolvency Trustee Joel Sandwith 01:20 – How to Avoid Predatory Financial Advice with Danielle Park 04:40 – How to Realistically Start...
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572 – Best Advice for Getting Out of Debt - Top Strategies from Debt Free in 30
Debt Free in 30
This special compilation episode is packed with nuggets of wisdom and strategies for getting out of debt. We've pulled together the best clips on avoiding credit traps, building emergency funds, and implementing practical “budgeting” strategies. 00:00 – August is a special month before launching a new season 01:00 – Why people end up in debt 02:10 – How to avoid the minimum payment trap 03:40 – Building and maintaining an emergency fund 06:00 – How insolvency clients are a leading indicator of the economy 07:30 – Why you shouldn’t rely on credit in an emergency 10:00 –...
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571 – Scam Compilation: The Most Dangerous Ways Canadians Are Being Tricked
Debt Free in 30
From shady loan offers to AI voice fraud and everything in between, this special edition of Debt Free in 30 is your go-to for avoiding financial scams. We’ve compiled some of the most important scam warnings from past episodes. These are real risks facing Canadians today, and knowing the red flags could protect your money, identity, and peace of mind. 00:00 – August is a special episode month before launching a new season this fall 01:30 – Housing and rental scams 03:55 – Payday loan and installment loan traps 05:00 – Debt consultant scams 06:30 – “Granny scams” and AI voice...
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570 – Debt Free in 30: Bloopers & Best Bits!
Debt Free in 30
While we're known for expert debt advice, let’s say it’s a good thing we’re better at being LITs than we are at staying on script! Join us for a compilation of our funniest on-air flubs, the kind of candid moments that usually end up on the cutting room floor. It's the perfect mix of lighthearted fun and the valuable debt insights you've come to expect. Don't miss this special (and hilarious) blooper episode! 00:00 – A long-requested episode: bloopers and funny moments from Debt Free in 30! 00:30 – Leaky Boat Incident 03:30 – "Size Matters" 04:30 – To Ted's Wife – We Are Sorry...
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569 – The Fastest Ways To Break Free From Debt
Debt Free in 30
You need strategies that go beyond budgeting apps. Doug Hoyes and Ted Michalos are experts who’ve seen it all – and they offer practical, honest advice to build momentum and pay off debt faster. Learn what you can do before considering insolvency, how to know if you’re at that point, and what to do if you are—a clear, actionable guide for Canadians. (00:30) How Interest Works (and How to Make It Work for You) (04:00) Why You Should Pay Off High-Interest Credit Cards First (08:00) Realistic DIY Strategies to Eliminate Debt (13:10) What to Do with Windfalls or Extra Income (14:30)...
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568 – Can You Have Good Debt? Debt In Canada Today
Debt Free in 30
Is debt still avoidable, or has borrowing become a fact of life in Canada? Ontario Licensed Insolvency Trustees Doug Hoyes and Ted Michalos answer our questions, share a simple test to assess new debt, and provide an action plan for those struggling to make ends meet. (00:00) What’s changed in Canada’s economy recently? (02:30) The problem with “good debt” as conventional wisdom (04:00) Auto loans: smart purchase or risky commitment? (10:00) Student loans: are they worth it? (14:00) What the household debt-to-income ratio tells us (17:00) Red...
info_outlineEver feel like managing money comes with its own set of challenges? If you're neurodivergent, those challenges can sometimes feel amplified. In this episode, we welcome Licensed Insolvency Trustee Maureen Parent and dive into the crucial intersection of neurodivergence and debt, exploring how executive dysfunction, time blindness, and impulse spending can impact your financial life.
Discover the power of habit stacking, mind mapping, "body-doubling" (hello, budget buddy!), and how tech can be a tool for embracing simplicity. Plus, we'll discuss guilt-free spending and why it's okay to invest in what truly supports you.
Tune in for actionable advice and a fresh perspective on navigating your finances!
(0:00) - Understanding Neurodivergence: Impact & Why It Matters
(4:45) - The Impact of Executive Dysfunction on Debt Management
(7:00) - Strategies for Reducing Decision Fatigue in Finances
(9:00) - Building Low-Effort Financial Habits with Habit Stacking
(10:45) - How Time Blindness Can Affect Your Financial Planning
(12:50) - Using Mind Mapping for a Visual Approach to Finances
(14:00) - The Power of Body Doubling: Finding Your Budget Buddy
(15:30) - Reframing Your Perspective on Financial Management
(17:00) - Leveraging AI and Tech (or Simplicity) for Financial Success
(20:00) - Coping Strategies for Impulse Spending
(23:00) - Practical Financial Advice for Neurodivergent Individuals (and Everyone!)
(27:10) - The Importance of Guilt-Free Spending and Investing in Your Needs
Hoyes Michalos Effective Money Management Strategies
Explore Credit Card Debt Relief
Why We Overspend and How To Break Bad Money Habits
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Debt Repayment Calculator
Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized guidance from a qualified financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed.