Debt Free in 30

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

577 – How to Break Free from the Minimum Payment Trap 09/20/2025

576 – First-Time Homebuyer's Survival Guide: Avoid Hidden Costs & Regrets 09/13/2025

575 – Why Canadians Are Financially Struggling, Even When Doing Everything Right 09/06/2025

574 – Simple Shifts: Ways to Save More and Spend Less 08/30/2025

573 – The Best Get Out of Debt Advice from Top Guests (Compilation) 08/23/2025

572 – Best Advice for Getting Out of Debt - Top Strategies from Debt Free in 30 08/16/2025

571 – Scam Compilation: The Most Dangerous Ways Canadians Are Being Tricked 08/09/2025

570 – Debt Free in 30: Bloopers & Best Bits! 08/02/2025

569 – The Fastest Ways To Break Free From Debt 07/26/2025

568 – Can You Have Good Debt? Debt In Canada Today 07/19/2025

567 – How to Financially Prepare for Canada's Recession 07/12/2025

566 – Can It Be Too Late to Get Out of Debt? How to Start Fresh at Any Age 07/05/2025

565 – Parents’ Debt In Your Name? Co-Signing Risks You Need To Know 06/28/2025

564 – What New Canadians Should Know About Credit and Debt 06/21/2025

564 – What New Canadians Should Know About Credit and Debt For many newcomers to Canada, the Canadian credit system can feel like a high-stakes challenge. Although it's essential for building a financial life, aggressive lending practices, cultural mindsets around credit, and a lack of clear guidance can lead to overwhelming debt before fully understanding how the system works. In this essential episode, Ontario Licensed Insolvency Trustees Doug Hoyes and Ted Michalos discuss the challenges newcomers may face, explain how banks and lenders operate, and pinpoint the critical warning signs to watch for when navigating a new financial life in Canada. 00:00 – Why do banks and lenders target new Canadians? 03:30 – How Canada’s credit culture affects immigrants 06:00 – How do credit and banks work in Canada? Can they be trusted? 09:00 – Unique financial challenges for newcomers 11:00 – What banks consider when lending to new Canadians 12:30 – Is building credit the only way to succeed? Ted’s advice 14:00 – Red flags for immigrants seeking financial help: Who can you trust? 22:00 – Credit advice everyone should know (not just newcomers) 23:30 – Real-life scenario that illustrates key credit considerations for new Canadians 26:00 – What to do if you’re an immigrant (or anyone) with unmanageable debt in Canada Free and learning resources 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 personal guidance from a 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, strategies, or digital tools/apps discussed. /episode/index/show/debtfreein30/id/37092275

563 – Debt: The New Normal? Comparing Boomer and Millennial Mindsets 06/14/2025

563 – Debt: The New Normal? Comparing Boomer and Millennial Mindsets Boomer budgeting tips collide with millennial money challenges in this candid conversation about debt, savings, housing costs, and the rise of gig-work income. Whether saving for a first home or paying off old credit cards, this episode bridges the generation gap with actionable insights for any age, complete with tried-and-true tactics Boomers still swear by, tech-savvy hacks Millennials can’t live without. 0:00 - Do Boomers Have It Easier? Debunking Generational Money Myths 3:10 - Why Millennials Lead Insolvency Filings & Credit-Card Debt 6:00 - “Credential Creep”: Rising Education Costs and Student Loans 9:00 - Buying a Home: 1980s Down Payment vs. 2020s Reality 13:00 - Starting Adulthood in Debt: How Timing Shapes Finances 16:00 - Shifting Attitudes: From Debt-Free Dreams to “Normal” Borrowing 18:00 - Gig Economy 101: Income Streams Boomers Never Faced 19:30 - Interest-Rate Shocks: Then (18%) vs. Now (Variable & Rising) 22:00 - 31 Flavours of Credit: BNPL, Lines of Credit, & More 25:00 - Boomer Money Rules That Still Work Today 28:00 - Reverse Mentorship: What Millennials Can Teach Boomers https://hoyes.info/joe-debtor-study https://hoyes.info/student-loan-rules-ontario Free and learning resources https://hoyes.info/newsletter Check out our other YouTube Channel: @hoyesmichalos 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 personal guidance from a 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, strategies, or digital tools/apps discussed. /episode/index/show/debtfreein30/id/37000325

562 – Canada’s Credit Score Crisis: Does France's No Score System Reveal A Better Way? 06/07/2025

562 – Canada’s Credit Score Crisis: Does France's No Score System Reveal A Better Way? Have you ever wondered what life would look like if your credit score didn’t exist? Licensed Insolvency Trustees Doug Hoyes and Ted Michalos compare Canada’s score-driven system with France’s radically different, no-score approach. You’ll learn: How France decides who can borrow—without a three-digit score. The cultural attitudes that shape lending and spending in France and Canada Why credit-report errors and identity theft are bigger issues than most Canadians realize. Whether Canada could (or should) adopt parts of France’s model—and what you can do right now to work the system in your favour. (00:00) Intro – How Canada Tracks Credit with TransUnion & Equifax (04:45) France’s “No-Score” System: How Trustworthiness Is Judged (07:10) Lending Culture in France: Relationships Over Ratings (09:00) Lending Culture in Canada: Why Scores Still Rule (13:00) Could Canada Move Toward a French-Style Model? (15:50) Credit-Report Errors: The Hidden Cost of Scores (19:00) Building Rapport with Lenders: Help or Hindrance? (20:30) Identity Theft Risks: Centralized Data vs. Decentralized Files (22:00) Which System Carries Less Bias—France or Canada? (26:30) Is Canada’s Credit Reporting Actually Working? (28:00) Takeaways: How to Navigate Canada’s System to Your Advantage 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 personal guidance from a 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, strategies, or digital tools/apps discussed. /episode/index/show/debtfreein30/id/36888420

561 – Zombie Subscriptions: How To Spot And Cancel Hidden Budget Killers 05/31/2025

560 – Legal Actions Creditors Can Take in Canada (And How to Protect Yourself) 05/24/2025

559 – Denied Credit? The Survival Guide for Emergency Situations 05/17/2025

558 – What It Means To Be House Poor And How To Avoid It 05/10/2025

557 – How To Avoid Car Financing Mistakes In 2025 05/03/2025

556 – Is Debt Fatigue Holding You Back? Strategies for Renewed Focus 04/26/2025

555 – The Future of Canadian Savings: Are We Saving Enough for What's Ahead? 04/19/2025

554 – AI Scams & Debt: Staying Safe in a New Era of Fraud 04/12/2025

533 – Debt & Neurodiversity: Understanding the Connection and Finding Solutions 04/05/2025

533 – Debt & Neurodiversity: Understanding the Connection and Finding Solutions Ever 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 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. /episode/index/show/debtfreein30/id/36009285

552 – Gamified Spending: The Hidden Dangers of Retail Tricks 03/29/2025

551 – Value of The Canadian Dollar & Its Impact on Your Dinner Bill 03/22/2025

550 – How to Build Wealth While Managing Debt: A Practical Guide 03/15/2025

549 – Can You Walk Away from a Pre-Construction Deal? What You Need to Know 03/08/2025

549 – Can You Walk Away from a Pre-Construction Deal? What You Need to Know Alarming trend: Canadians are finding themselves unable to follow through on pre-con real estate purchases. So, what happens if you can’t close on a pre-construction real estate deal? In this episode, the co-founders of Hoyes Michalos break down the reality of pre-construction deals in Canada, including assignment sales, how rising rates and blanket appraisals impact your deal, and what happens if you can’t secure financing. They also explore the legal and financial consequences of “walking away” and whether solutions like a consumer proposal or bankruptcy might apply to your situation. (0:00) – What is a pre-construction deal in real estate? (3:30) – What is an assignment sale? (5:15) – Trends in Canadian pre-construction real estate deals (8:00) – “Blanket appraisals” and why they matter (11:45) – The financial and legal consequences of “walking away” (13:00) – Timing issues and pre-con purchases (14:00) – What happens if interest rates go up or down before your closing date? (17:00) – When builders run into problems — how it affects you (20:00) – Practical steps if you can’t close on your pre-construction home (22:00) – Can a consumer proposal help you walk away from a pre-con deal? (26:00) – Are you at risk of being sued by the builder? (28:00) – Bankruptcy: when it becomes an option for pre-construction buyers 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 advice from a qualified financial advisor. Always consult with a 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. /episode/index/show/debtfreein30/id/35576780

548 – Credit Card Habits Leading to Debt? Expert Advice for Canadians 03/01/2025

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