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 – Canada’s economy today: rising insolvencies and financial strain
4:00 – The impact of higher unemployment and growing uncertainty
7:15 – Why home equity isn’t the financial safety net it once was
10:50 – How financial exhaustion affects mental health and overall wellness
13:00 – Breaking the stigma: addressing shame around debt
14:30 – Key warning signs that you may have too much debt
17:00 – Why many Canadians underestimate how much debt they carry
20:00 – First steps to take when debt feels unmanageable
23:30 – Why working more hours won’t solve financial problems
24:20 – How consumer proposals help Canadians get back on track


Indicators of Financial Vulnerabilities – Household Credit Performance Chart

Who’s Filing Insolvency in Canada and Why? Joe Debtor Bankruptcy Study

Free Canadian Credit Repair Resources

Hoyes Michalos YouTube Channel

Sign Up for the Monthly Debt Free Digest

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

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 to cut your bill
(15:00) The payoff of investing in insurance
(17:50) Top 3 shopping tips to save money
(20:00) Why a home isn’t always an investment: Renting vs. owning
(24:00) The benefits of preloaded credit cards with digital banks
(28:00) The importance of diversifying your money

Free Canadian Credit Repair Resources

10 Tips for Dealing With Collection Agencies

Ontario Consumer Proposal and Bankruptcy FAQ

Hoyes Michalos YouTube Channel

Sign Up for the Monthly Debt Free Digest

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.

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 Rags to Reasonable, and Danielle Park, author of Juggling Dynamite.

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 Managing Your Money with Chris Enns
07:45 – Predatory Credit Advisors – What You Need to Know cont.
11:30 – Why Canadians Aren’t Prepared for Financial Emergencies with Scott Terrio
13:00 – Snowball and Avalanche Method – Advanced Tips
16:30 – Why Your Perspective on Loans Matters
19:50 – Getting Out of Debt and Building Savings Has To Be Practical with Danielle Park
22:35 – Key Indicators of Debt Trouble – When to Seek Help
25:00 – A “Holistic” Approach to Paying Off Debt?

Danielle Park on Debt Free in 30: Building Wealth In A Challenging World

Chris Enns on Debt Free in 30: Managing Money on a Variable Income

Juggling Dynamite | Debtasized: How our reliance on credit leads to price inflation

Learn More: Snowball Vs. Avalanche Debt Methods – Which One is Best?

Hoyes Michalos Free Canadian Credit Rebuilding and Repair Course

Sign Up for the Monthly Debt Free Digest

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.