More credit means a higher score, right? Not exactly. #debtfreein30 Many assume more loans and higher credit means a higher score, but the reality is more complex. Doug Hoyes and Ted Michalos break down how multiple loans impact your credit score and share expert advice on when accessing more credit makes sense—and when it doesn’t. (0:00) – What im…

Can you identify and escape the pitfalls of debt traps? Learn from the co-founders of Hoyes Michalos how marketing and psychology fuel debt cycles. Spot the warning signs of financial trouble—from payday loans to student debt—and understand the emotional toll that debt can take. Plus, gain practical, proven strategies to break free from the cycle a…

Are credit card points and rewards as beneficial as they seem, or are they secretly costing you more than you realize? Doug Hoyes and Ted Michalos discuss the truths behind credit card reward systems, revealing how spending habits, annual fees, and high-interest cards may affect your financial health. Learn how credit card companies use your data, …

Real estate is often seen as the ultimate investment, but is it really? Doug and Ted discuss the financial realities of homeownership, from the hidden costs of maintenance and repairs to the risks of negative equity, pre-con agreements, and even becoming a landlord. This episode explains why a house may not always be the wealth-building asset it’s …

It’s crucial to stay informed about the recent revision to the criminal interest rate cap, effective January 1, 2025. How will Canadians be impacted? Doug and Ted provide insight into potential lending trends, emerging marketing tactics, unintended consequences, and how this change will impact the most vulnerable borrowers and secondary lenders in …

As 2024 comes to an end, Doug Hoyes and Ted Michalos revisit their past predictions to see what they nailed—and what surprised them. They cover everything from inflation and insolvency to unemployment and real estate and, using the latest economic data and trends, share their evidence-based predictions for 2025. Do you agree with Doug and Ted, or d…

How do you balance financial well-being with the responsibility of supporting aging parents? This important episode tackles the complexities of financial caregiving, highlighting the challenges of the "sandwich generation"—those caring for both children and elderly parents—all while managing personal debt. Doug and Ted cover the pros and cons, from…

Have you ever stopped to consider the real costs—and sacrifices—of borrowing someone else’s money? Whether it’s a mortgage, car loan, or another form of financing, the hidden fees, penalties, and long-term credit impacts can quickly add up. Beyond the numbers, debt can bring stress, limit opportunities, and force tough choices in your personal and …

Is the thought of maxed-out credit cards keeping you up at night? This guide unpacks the pitfalls of credit card debt and offers clear strategies to break free from the cycle. Doug Hoyes and Ted Michalos discuss why your credit utilization rate matters, how many credit cards you should really have, the pros (but mostly cons) of opening new credit a…

Many Canadians have seasonal employment or variable income, making financial planning more complex. Doug Hoyes and Ted Michalos provide practical strategies for managing income fluctuations, saving effectively, dealing with debt, and handling taxes during off-seasons. This episode is a must-listen for anyone navigating seasonal employment or variab…

Struggling to stay motivated while repaying debt? You're not alone! Charlie Kovacs, BIA Insolvency Counselor with Hoyes Michalos, joins Debt Free in 30 to share practical strategies to help you stay focused, celebrate small victories, and shift your mindset from guilt to empowerment. Whether juggling student loans, tackling "life quakes," or just f…

If you’re a homeowner in Canada, you can’t miss this episode! Canadian homeowners are increasingly facing the tough reality of missed payments and rising financial pressures. Licensed Insolvency Trustee Scott Terrio joins Debt Free in 30 to unpack the potential warning signs of mortgage trouble, troubleshoot possible solutions, and provides guidanc…

How do you know if you're financially fit? Doug Hoyes and Ted Michalos break down the essentials of financial "fitness", covering the importance (or unimportance) of positive net worth, stable cash flow, emergency funds, retirement planning, life insurance, budgeting, and more. This episode is packed with expert insights to help you evaluate your f…

Ready to break all the budgeting rules? This episode is a lively debate that flips the script on traditional money management. Doug Hoyes isn’t holding back on his opinions about the Government of Canada’s “Financial Literacy Month,” challenging its effectiveness and taking a skeptical eye to the budgeting advice we’ve all heard before. Maureen and…

How much do you really know about the impact of credit cards on your credit score? Doug Hoyes and Ted Michalos bust common myths and reveal the true influence of credit cards on your financial health. Learn how credit scores work, get expert tips on managing your credit responsibly, and explore strategies to improve your credit standing. Whether yo…

Is all debt bad, or can borrowing sometimes be a smart financial move? Doug Hoyes and Ted Michalos discuss debt’s dual nature as both a financial tool and a potential burden. They break down the differences between "good debt" and "bad debt," providing clear advice on assessing what's manageable, when taking on new debt might be a smart move, and h…

Back by popular demand: Canadian credit collector Blair DeMarco Wettlaufer! Even if you’re not currently dealing with prohibited debt collectors, this eye-opening episode is captivating and informative. Learn about your rights as a Canadian consumer, the tactics some creditors use to pressure debtors, and how to protect yourself from unethical and …