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) Micropayments: Small but Mighty
(15:30) Paying Bills with Debt in Mind
(17:00) Boosting and Rebuilding Your Credit Score
(19:30) How and Why to Automate Your Finances
(22:00) Debt Consolidation: Pros and Cons
(26:00) When to Consider a Consumer Proposal or Bankruptcy
(28:00) What’s Coming Next on Debt Free in 30

Financial Consumer Agency of Canada – Tools and Calculators

Debt Repayment Worksheet

Debt Repayment / Consumer Proposal Calculator

Hoyes Michalos Debt-to-Income Ratio Calculator

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.

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 and green flags when borrowing money
(18:45) Is it still possible to live debt-free in Canada?
(20:00) Doug & Ted’s 5-point test for smart borrowing
(22:00) Understanding the hidden risks of borrowing
(23:50) Your debt action plan: what to do starting today
(25:00) Mortgage tips: borrowing for a home in today’s market
(27:30) The best kind of debt - and what to do if yours isn’t working for you

DEBTASIZED – Full Length Documentary


Debt Repayment / Consumer Proposal Calculator


Hoyes Michalos Debt-to-Income Ratio Calculator


Joe Debtor – Canadian Insolvency Statistics Explained


Reducing Tax Debt in Ontario


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.

Don't just brace for a recession, prepare to come out stronger. This conversation is about turning Canada’s economic uncertainty into an opportunity for financial growth (or, at least, stability). We'll equip you with proactive strategies for managing debt, finding new income streams, and building a mindset of resilience.

Learn how to take decisive control of your financial future, no matter what the economy throws at you.

(00:00) – Prediction: How We Knew a Recession Was Coming

(02:30) – Rising Costs & Reduced Work Hours Impacting Households

(04:00) – Forecast: Hitting Recession Thresholds by End of Summer

(05:30) – Managing Money vs. Managing Debt: Good Times vs. Bad

(07:45) – First Steps When You Feel Financial Pressure

(11:00) – Side Hustles 101: Pros & Cons of Supplemental Income

(14:00) – Leveraging Networks & Community Support

(15:45) – How to Start (and Grow) an Emergency Fund

(18:00) – Recession-Proofing Strategies for Homeowners

(19:15) – Top Tips for Canadians in Debt as Recession Hits

(27:00) – Building Mental Resilience & Setting Realistic Goals

Reducing Tax Debt in Ontario

Planning For Retirement When You Have Debt

Why You Absolutely Need An Emergency Fund

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.