Debt Free in 30

Feb 01 2025 545 ep. 30 mins 2.2k

Debt Free in 30 Podcast artwork

Each week Doug Hoyes talks to industry experts about debt, money, and personal finance. Don't be confused; listen as the guest experts cut through the jargon and share practical advice.

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544 – The Truth About Loans Impacting Your Credit Score

Feb 01 2025 30 mins

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 impacts your credit score?

543 – How to Avoid Debt Traps: Expert Tips for Canadians

Jan 25 2025 30 mins

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 and achieve financial stabili

542 – The Truth of Credit Card Rewards – They're Costing You

Jan 18 2025 29 mins

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, the psychology behind reward mar

541 – A House Is Not an Investment If You Can’t Afford It

Jan 11 2025 31 mins

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 made out to be—especially i

540 – How the New Criminal Interest Rate Affects You

Jan 04 2025 31 mins

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 the future. Timestamps: (0

539 – Canadian Insolvency and Economic Trends in 2025

Jan 02 2025 31 mins

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 do you have a different perspe

538 – Financial Caregiving: Taking Care of Aging Parents While Tackling Debt

Dec 21 2024 31 mins

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 government benefits to tax

537 – The True Cost of Borrowing

Dec 14 2024 31 mins

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 professional life. Doug

536 – How to Handle Maxed-Out Credit Cards

Dec 07 2024 31 mins

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 accounts, and the best options whe

535 – How Seasonal Workers Can Manage Income and Debt

Nov 30 2024 30 mins

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 variable income. Timestamps: (2:0