Debt Free in 30
505 episodes - English - Latest episode: 11 days ago - ★★★★ - 62 ratingsEach 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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Episodes
502 – Should I Buy or Rent a Home? What Makes Sense in Today's Market
April 13, 2024 10:00 - 30 minutes - 43.6 MBShould you buy a home or rent in Canada? We look at the risks and expenses involved when it comes to purchasing a home. From the unpredictable market trends to steep mortgage penalties and ongoing maintenance costs. As we weigh at the pros and cons, this episode may make you rethink your views on homeownership, not only as an investment but as a consumer choice. Could renting be the smarter choice in 2024? Watch the episode now to find out. Time Stamps: 00:00 Introduction 01:00 Re...
501 – Things Collection Agents Can and Cannot Do with Your Credit Report
April 06, 2024 10:00 - 36 minutes - 51 MBBlair DeMarco-Wettlaufer, the Chief of Operations Officer of Kingston Data & Credit joins Doug to discuss the consequences of unpaid debts and their impact on your credit score. They look at real-life scenarios and provide practical advice to manage your credit report. They also discuss what collection agents can and cannot do when it comes to reporting your debts to the credit bureau and how to dispute old debts, so they don’t affect your credit. Timestamps: 00:00 Introduction 01:45 ...
500 – Why Do We Feel Despair? (A Rant)
March 30, 2024 10:00 - 35 minutes - 48.3 MBThis is episode 500, and Doug does a solo rant exploring the factors contributing to the despair felt by Canadians. He reflects on how the past four years has affected our economy. He touches on the cost of real estate, the stock market, fatalistic YOLO, inflation, and strategies for achieving wealth. Enjoy! Related Links: Build a Get Out of Debt Repayment Plan - https://www.hoyes.com/debt-relief/get-out-of-debt/ Statistics Canada. Table 18-10-0004-01 Consumer Price Index, mon...
499 – How To Protect Yourself from Rising Car Thefts & Financial Costs
March 23, 2024 10:00 - 36 minutes - 52.6 MBDid you know a car is stolen every 5 minutes across Canada? Car thefts and VIN scams are on the rise. Michael Rothe, President and CEO of Canadian Finance & Leasing Association, joins Doug and discusses Canada’s auto theft epidemic. They explore topics such as re-vinning, the impact of stolen vehicles on insurance premiums, steps to take if you unwittingly purchase a stolen vehicle, precautions against potential car theft, and government enforcement. This discussion is essential for Can...
498 – Save Money with a Micro Wedding Budget | Planning Tips from The Budget Savvy Bride
March 16, 2024 10:00 - 35 minutes - 51.7 MBPlanning a wedding on a budget? In this episode, Jessica Bishop, founder of The Budget Savvy Bride, shares expert advice on keeping your big day affordable without sacrificing style. Whether you are dreaming of a traditional ceremony or considering eloping, Jessica's insights will help you celebrate your love without breaking the bank. We discuss micro weddings, destination weddings, the cost of having an open bar, wedding party attire, and more! Don't miss out on these essential tips f...
497 – How to file taxes and get your my CRA account 2024
March 09, 2024 11:00 - 35 minutes - 50 MBTop tips on how to file taxes. How to file taxes in Canada, setup your CRA my account, deadlines, government benefits and how to receive your refund with no additional fees. We also discuss tax discounting services, the importance of gathering all your documents, claiming all legitimate deductions such as moving expenses and tuition and notifying CRA of any changes such as your marital status, address, etc. Tune in for great practical advice and recommendations on which tools to use to file...
496 – Why You Should Never Co-Sign a Loan
March 02, 2024 11:00 - 30 minutes - 43.7 MBIn this episode, Doug and Ted discuss the risks of co-signing on a loan. They discuss the differences between joint loans and co-signed loans and the impact they can have on your credit. They address common scenarios such as parental co-signing and provide advice on alternative ways to assist friends or children financially without assuming the burden of co-signing. This episode is a must-listen if you've ever considered co-signing a loan. Related Links: How Is Cosigned Debt Treated i...
495 – RRSP Withdrawals Before Retirement - Is it Ever a Good Idea?
February 24, 2024 11:00 - 31 minutes - 44.2 MBIn this episode of Debt Free in 30, Ted and Doug discuss RRSP early withdrawals. They weigh the pros and cons of tapping into your savings before retirement and discuss tax implications, CPP and exceptions such as the Home Buyer's Program and the Lifelong Learning Plan. This helpful discussion will give you the knowledge to make the right decisions when it comes to withdrawing your RRSP. Time Stamps: 00:00 - Introduction 00:39 - What is an RRSP? 01:43 - Is there a good time to cash i...
494 – Habits and Your Financial Health
February 17, 2024 11:00 - 33 minutes - 48.2 MBIn this episode, Maureen and Doug explore financial habits and discuss why we spend the way we do and how we can make better choices. Maureen shares how habits form and how you can be influenced to spend money. From understanding the psychology behind spending to learning strategies for breaking bad habits and building good ones, this episode will give you tools to take charge of your finances and break bad habits! Related Links: Maureen Parent - https://www.hoyes.com/about-hoyes-mi...
493 – Credit Card Balances Lead Many to Bankruptcy: 2023 Joe Debtor Study
February 10, 2024 11:00 - 30 minutes - 43 MBIn this episode, Doug Hoyes and Ted Michalos discuss the annual Hoyes Michalos Joe Debtor Bankruptcy Study for 2023. They talk about why credit card debt is driving consumer insolvencies, challenges faced by homeowners, and why we are seeing an increase in insolvencies among higher-income individuals. For more information, you can access the detailed report at joedebtor.ca. Related Links: Hoyes Michalos Joe Debtor Bankruptcy Study: www.joedebtor.ca Office of the Superintendent of Bankr...
492 – Learn Price Matching Tips on the Flipp App to Save Big on Groceries
February 03, 2024 11:00 - 35 minutes - 51 MBIn this episode, Doug chats with Janette Martin, a Credit Counsellor at Hoyes Michalos. Janette shares her tips on saving money while grocery shopping, focusing on the Flipp app. They discuss using the app to review online flyers, price matching across various stores, the checkout process, potential savings and time commitments. They also touch on the pros and cons of using the app for smarter shopping. Additionally, Janette also explains the rebate app Checkout 51. Enjoy! Related Links...
491 – Will Changes to the Criminal Code Make Borrowing More Affordable?
January 27, 2024 11:00 - 31 minutes - 45.4 MBIn this episode, Doug and Ted discuss the government's intention to lower Canada's criminal interest rate from 60% EAR to 35% APR and set the maximum cost of borrowing for payday loans at $14 per $100 borrowed. They explore the implications for borrowers and lenders, particularly in the payday loan sector. Doug and Ted touch on compound interest, presenting arguments from both perspectives, with insights from the Canadian Lenders Association. Ted also discusses alternative lenders' and how ...
490 – The Connection Between Coerced Debt and Human Trafficking
January 20, 2024 11:00 - 37 minutes - 51.8 MBIn this eye-opening episode of Debt Free in 30 host Doug Hoyes is joined by guest Richard Dunwoody to unravel the often-overlooked connection between human trafficking and coerced debt. With Ontario facing the second-highest rate of police-reported human trafficking in Canada, the conversation sheds light on how traffickers exploit victims financially. The focus turns to Bill 41, the "Protection from Coerced Debts Incurred in relation to Human Trafficking Act, 2023," exploring its role in s...
489 – The Fight Against Debt Consultants
January 13, 2024 11:00 - 31 minutes - 44.4 MBIn this episode of Debt Free in 30, Doug and Ted discuss the ongoing battle against unregulated debt consultants. They dive into the recent developments, including the conversation with Superintendent of Bankruptcy Elisabeth Lang and the release of a comprehensive position paper. The paper exposes the deceptive practices of these consultants, who have cost consumers a staggering $21 million in fees over the last two years! Doug questions the effectiveness of government actions while providi...
488 – 2024 New Years Resolutions: Kickstart Your Best Year Yet!
January 06, 2024 11:00 - 11 minutes - 16 MBGet ready for 2024 with our first episode of the year! Join Doug Hoyes as he gives a straightforward take on New Year's resolutions, highlighting the need for a practical plan and figuring out what really matters to you. He talks about why arbitrary resolutions may not work and gives advice on making changes that actually stick. Doug shares easy steps to cut debt, handle expenses, and boost income, offering practical tips to make your financial journey in 2024 a success. Don't wait – hit pl...
487 – Consumer Insolvencies and Bankruptcies Continue to Rise [Year-End Analysis and 2024 Predictions]
December 30, 2023 11:00 - 35 minutes - 50.9 MBIn this year-end podcast, Doug and Ted review their 2023 predictions and share insights on what to expect in 2024. They discuss the accuracy of last year's forecasts on inflation, interest rates, and insolvency rates. Doug predicts a decline in inflation due to an anticipated recession, and Ted adds insights on borrowing for essential living costs and the potential rise in insolvencies. They acknowledge wildcard factors like the real estate market and unemployment rates. Tune in for predicti...
486: Doug and Ted’s Expert Advice for Financial Success in 2024
December 23, 2023 11:00 - 30 minutes - 44.1 MBJoin Doug and Ted as they break down simple strategies for financial success in 2024. Whether you're dreaming of starting a business, planning for retirement, or making big purchases, their advice can make a real impact. They discuss the importance of having a personal plan and explore the significance of setting long-term goals. Don't miss out on valuable insights. Take charge of your financial future in 2024! Related Links: Have a question or comment for a future show? Leave us a vo...
485 – Mastering Solo Finances: Navigating the 'Single Tax' with Heather Cudmore
December 16, 2023 11:00 - 31 minutes - 45.7 MBDoes the cost-of-living soar when you're flying solo? Join Doug in this episode as he's joined by Heather Cudmore, a Certified Credit Counsellor, and Client Service Specialist at Hoyes Michalos. Together, they delve into the concept of the 'single tax' and discuss the unique financial hurdles that singles often encounter. Drawing on her extensive experience assisting single clients, Heather shares valuable insights and practical advice. She discusses the importance of building an emergen...
484 – Debt Duel: Snowball vs. Avalanche with Joel Sandwith
December 09, 2023 11:00 - 30 minutes - 43.9 MBIn this episode, Doug sits down with Joel Sandwith, a Licensed Insolvency Trustee based at the Hoyes Michalos London office. Together, they explore effective debt management strategies and delve into optimal approaches for debt repayment. The episode provides a comprehensive comparison of the snowball and avalanche methods. If you're trying to figure out the best way to pay off your debts, this episode is a helpful guide. It's here to support you on your journey to financial freedom, giving ...
483 – Why Are Credit Reports Always Wrong with Richard Moxley?
December 02, 2023 11:00 - 39 minutes - 57.9 MBIn this week’s episode of Debt Free in 30, credit expert Richard Moxley returns to tackle the burning question: Why are credit reports always wrong? From the importance of credit ratings to practical tips on finding and fixing errors, we cover it all. Discover how to navigate post-insolvency challenges, handle account changes, and conquer stubborn collection accounts. Don't miss this deep dive into credit report complexities with actionable solutions! Timestamps: 00:00 Introduction ...
482 – Setting Yourself Up for Success in 2024 with an Annual Financial Checkup!
November 25, 2023 11:00 - 30 minutes - 43.6 MBIn this episode, Doug Hoyes is joined by Ted Michalos as they discuss the importance of doing an annual financial checkup. Doug explains the importance of having a plan and touches on various topics such as updating your will, insurance, investments, bank accounts, taxes, passwords, and debt. Now is the time to review your finances and make a plan for the new year so you can set yourself up for success! Time Stamps 00:00 Introduction 01:20 Self Assessment 02:03 Review and Updat...
481 – Will You Ever Be Able to Retire? Exploring Retirement Planning Strategies with Financial Expert Rona Birenbaum
November 18, 2023 11:00 - 34 minutes - 48.9 MBIn this episode, Doug Hoyes discusses retirement planning with special guest Rona Birenbaum, a Certified Financial Planner at Caring for Clients. The episode covers various retirement-related topics, including the importance of financial planning, the role of financial advisors, and the complexities of decisions such as when to retire and when to start receiving government benefits like CPP. The discussion emphasizes the need for careful consideration of lifestyle preferences, budgeti...
480 – Increase in Homebuyers Cancelling Contracts: Here's What You Need to Know!
November 11, 2023 11:00 - 31 minutes - 30.8 MBDoug Hoyes and Ted discuss a pressing issue that many Canadians face: the challenge of closing on a house when real estate prices have taken a hit. They discuss the complexities of the real estate market, particularly the implications for those who bought pre-construction homes or condos. They also explain the risks associated with pre-construction purchases, such as the potential loss of deposits and the financial difficulties of closing on a property with a lower appraised value. This epis...
479 – Are We in a Silent Depression? Tackling the Debt Dilemma
November 04, 2023 10:00 - 30 minutes - 44.2 MBDoug Hoyes and Ted Michalos discuss the state of the economy and explore the possibility of a silent depression. Their discussion includes topics such as unemployment rates, the challenges confronted by the Millennial and Gen-Z generations, the recent increase in credit card debt, and the state of the real estate market. They also offer guidance on how to regain hope and devise a path towards achieving success amidst these challenging circumstances. Related Links: Have a question or...
478 – The State of Mortgages and Real Estate with Ron Butler
October 24, 2023 02:13 - 47 minutes - 65.5 MBDoug Hoyes and special guest Ron Butler from The Angry Mortgage Podcast came together for a live episode on Monday, October 23rd. During this special event, they talked about current mortgage trends, real estate, Bank of Canada interest rates, inflation, and addressed questions from their audience. Whether you own a home or are planning to buy one in the near future, this conversation is definitely one you should listen to. Related Links Ron’s Links Ron Butler on Twitter: @ronmortg...
477 – The Messy World of Debt Collection and Statute-Barred Claims
October 21, 2023 10:00 - 41 minutes - 56.7 MBDoug Hoyes is joined by special guest, Blair Demarco-Wettlaufer, a collection agent, who serves as the Chief Operations Officer at collection agency Kingston Data & Credit. This marks Blair's seventh appearance on the show! In this episode, Doug and Blair discuss the messy world of debt collection, statute-barred claims, and credit reporting. They answer questions such as, how long does it take for a credit card company to send your debt to collections? Does a statute-barred debt affect your...
476 – Debt Beyond the Grave: What Happens to your Debt when you Die?
October 14, 2023 10:00 - 29 minutes - 42.3 MBWhat happens to debt when someone passes away? Host Doug Hoyes is joined by Ted Michalos to discuss a topic that might sound eerie but is incredibly important. They chat about the different types of debt: credit card balances, car loans, and mortgages. Ted provides clear and valuable advice on important topics such as life insurance, wills, and power of attorney. Doug also highlights the significance of his "Death Checklist" and the importance of informing your spouse to guarantee seamle...
475 – AI’s Role in Managing Debt
October 07, 2023 10:00 - 32 minutes - 46.1 MBYou've probably noticed that Artificial Intelligence is everywhere these days, but can it help you out with debt and managing your money? Doug Hoyes and Scott Terrio are here to chat about just that! They discuss how AI looks at your spending habits, and discuss concerns related to biases and privacy, talk about the pros and cons of using ChatGPT to handle your finances, and help you understand what it can and can't do. Don't miss out on valuable tips and advice for making smart financial ...
474 – The CEBA Loan Dilemma
September 30, 2023 10:00 - 30 minutes - 42.3 MBAre you a small business dealing with the CEBA loan repayment dilemma? Ted Michalos and Doug Hoyes dive deep into the world of CEBA loans and the crucial decisions you need to make about repaying them. For many small businesses, the loan was a lifeline during the pandemic but as the repayment deadline is looming it’s time to evaluate your options. Join us as we help you to understand the pros and cons of getting a bank loan to repay the CEBA loan, tax considerations that could impact your...
473 – The Financial Aftermath of the Pandemic in Ontario vs. Newfoundland
September 23, 2023 10:00 - 35 minutes - 50 MBJoin the conversation with Ian Penney, a Licensed Trustee from Janes & Noseworthy, and Doug Hoyes as they provide insights into managing your finances in the aftermath of the pandemic, with a focus on the distinctions between Newfoundland and Ontario. During the discussion, they delve into the economic landscapes of these regions, spotlighting key industries such as oil and gas, fishing, forestry, tourism, and mining. Tune in to gain valuable advice on navigating your financial journey pos...
472 – Is It Wrong To Spend on Fun?
September 16, 2023 10:00 - 32 minutes - 46.2 MBEvery successful budget makes room for fun spending. But how much is OK to spend on fun? What if you feel guilty? Is it ever wrong to spend money on your hobbies and interests? On today’s podcast, Maureen Parent returns to give advice on this less explored area of our budget and gives practical advice on how to allocate your income wisely towards leisure and why it’s essential for your mental and financial health to do so. Tune in! Related Links: The Secret To Budgeting? Don’t Budget htt...
471 – Is University Worth All The Debt?
September 09, 2023 10:30 - 34 minutes - 50 MBHigher education isn’t getting any cheaper. The cost of going to university has more than tripled since the 1990s and we see first-hand the financial burden caused by student loans. So, is it still worth it to get into debt for post-secondary schooling? With so many advancements in free online education, aren’t there cheaper alternatives? When is college the better option? Is an undergraduate degree still going to give you a job right away? Tune in to this discussion with Ted Michalos and Do...
470 – Season 10 Season Premiere: Are You Hitting The Wall?
September 02, 2023 10:00 - 10 minutes - 14.2 MBWelcome to Season #10 of Debt Free in 30. Debt is up. Interest rates are up. Not surprisingly, personal insolvency filings are way up. Many people are hitting the wall. On today’s abbreviated podcast, Doug Hoyes explains the numbers and why we live in a “Tale of Two Economies.” If you are rich, all is good. If you have depleted your savings and have debt, times are tough. We explain the impact of the numbers and “tease” some of the topics we will be discussing in the coming weeks. ...
469 – REBROADCAST - Debt Mistakes to Avoid When Cash is Tight
August 26, 2023 10:00 - 31 minutes - 42.9 MBFor our final rebroadcast of the summer, we are rebroadcasting episode #452. We know rising inflation is tough on Canadians. If your budget is getting tighter, you may be tempted to use credit (debt) to make ends meet, but that may not be a good strategy. On today’s podcast, Jennifer Kwon returns with some solid practical advice for what to do if you feel you’re living paycheque to paycheque and the dos and don’ts of using credit to get by. Jennifer and Doug Hoyes discuss common debt traps t...
468 – REBROADCAST - Should Shopping Be a Game? Risks of Apps Like Temu
August 19, 2023 10:00 - 33 minutes - 46.5 MBToday we rebroadcast episode #453. Online shopping isn’t new. Apps are not new. But is shopping supposed to be a game? That’s the angle a new shopping app called Temu appears to have taken. Since its launch in September 2022, the app has millions of monthly users, offers very deep discounts, and has strong incentives to keep users coming back. On today’s podcast, Doug Hoyes takes a closer look at how Temu works and interviews users from very different age groups for comparison. He also discu...
467 – REBROADCAST - How to Earn More Money Without a Second Job
August 12, 2023 10:00 - 32 minutes - 46.9 MBToday we rebroadcast episode #448. Most money experts will tell you that the best way to avoid money problems is to cut costs. And they’re right. But what about also increasing your income? After all, you can only cut so much. We have seen a lot of people struggle with rising living costs, with a limited income, and needing debt to make ends meet. On today’s podcast, Doug Hoyes and Ted Michalos discuss strategies for earning a higher pay without needing to do a side hustle or second job. T...
466 – REBROADCAST - What’s Making Our Groceries So Expensive? w/ The Food Professor
August 05, 2023 10:00 - 33 minutes - 47.3 MBOriginally aired at episode 450 on April 15, 2023, the Food Professor returns. Food is now more expensive than ever. But why? Is it just corporate greed? Or something greater? Enter Dr. Sylvain Charlebois, a.k.a. The Food Professor. Sylvain is a Professor and the Scientific Director at Agri-Food Analytics Lab at Dalhousie University. On today’s podcast, he demystifies grocery pricing and explains why food inflation is a global phenomenon. Sylvain also discusses the part the Canadian governme...
465 – Has The Recession Started? Where are we headed?
July 29, 2023 10:00 - 29 minutes - 42.4 MBIn the season 9 finale episode of Debt Free in 30, Doug Hoyes and Ted Michalos discuss the current state of consumer insolvencies in Canada and why they’re going back up. They also discuss the impact of inflation remaining higher than wage increases, higher credit card debt, and higher interest rates. Where are we heading in the latter part of 2023? Has the recession begun? What can homeowners expect in this climate? Tune in for a great discussion! Related Links: Episode 435, Debt Free ...
464 – Getting a Car Loan Today - What NOT To Do
July 22, 2023 10:00 - 33 minutes - 48.3 MBBuying a car has never been more expensive. But what if you have no choice but to buy one? How can you avoid buying too much car these days? On today’s podcast, Ted Michalos and Doug Hoyes explain what’s causing high car prices in both the new and used car categories, as well as, how to buy without taking out a huge auto loan. Tune in for lots of practical tips on shopping for a car and dealing with salesmen. Resources Mentioned i the Show: Buying and Maintaining an Affordable Car: ...
463 – Want To Buy a Business? Here’s What To Know First
July 15, 2023 10:00 - 34 minutes - 48.6 MBMaybe you’re tired of working for someone. Or you’re looking to be your own boss. You may consider buying a business. It’s not a bad idea, but just as there are advantages, there are also pitfalls you need to be aware of. Enter David Barnett. David is a seasoned expert in buying and selling small to medium-sized businesses. On today’s podcast, David demystifies the process of buying a business and provides insight on how to avoid debt problems when doing so. Tune in for a great discussion wi...
462 – How To Spot The Bank’s Sales Tricks
July 08, 2023 10:00 - 32 minutes - 46.8 MBYour bank is a business, so they’re always trying to sell to you because they want to make more money. How do you navigate their tricks? How do you avoid upsells when you just want to do a simple transaction? On today’s podcast, Scott Terrio and Doug Hoyes discuss the pervasive sales culture at financial institutions, what you need to look out for, and teach you the basics to making better money decisions on the spot. Tune in for a great discussion! Related Links: Pervasive Sales...
461 – Can’t Pay Your Mortgage? Options To Keep Your Home
July 01, 2023 10:00 - 32 minutes - 46.3 MBWith nine interest rate hikes since March 2022, mortgage borrowers have either already started to feel the increased payment pressures or will at renewal time. So, what if your mortgage payments become too much to manage? How do you avoid risking your home? On today’s podcast, Doug Hoyes and Ted Michalos give practical advice for what to do if you’re struggling with your mortgage payments, including the dos and don’ts, and ways to cut back on interest costs if you can afford it. Tune in for ...
460 – Top Credit Repair Questions (& Fears) Answered!
June 24, 2023 10:00 - 31 minutes - 45.3 MBWe know it can be daunting to start your credit repair journey. We are often asked where to begin and what is the fastest way to rebuild. On today’s podcast, Maureen Parent is back to answer some of the most common credit rebuilding questions and address fears and misconceptions about repairing your credit. Tune in for lots of great practical advice and recommendations on which tools to use. Related Links: Free Credit Rebuilding Course by Hoyes Michalos: https://courses.hoyes.com...
459 – The Pros & Cons of Self-Employment
June 17, 2023 10:00 - 34 minutes - 48.7 MBSelf-employment has many advantages like you get to be your own boss, set your own hours, and even make more money. On the other hand, self-employment comes with challenges. Over the years, we’ve met with a lot of clients who were self-employed but became overwhelmed by unpaid tax debt. On today’s podcast, Doug Hoyes and Ted Michalos break down what it means to be a self-employed person, explaining the benefits and pitfalls you need to be aware of before you decide to become your own employe...
458 – Why You May Need More Than One Bank Account
June 10, 2023 10:00 - 29 minutes - 41.2 MBWhile bank failures are not a common occurrence in Canada, it may still be in your best interest to have more than one bank account. On today’s podcast, Joel Sandwith, our LIT in London, joins Doug Hoyes to discuss banking best practices, including how many accounts you should have, where to store your savings, and why it’s important to understand the right of offset if you owe your bank. They also explain how deposit insurance works and high-interest savings accounts. Tune in for an informa...
457 – Gas Costs May Be Higher Than You Think
June 03, 2023 10:00 - 32 minutes - 46.3 MBThe price at the gas pump includes a lot of hidden costs, and they are going up. How will this impact your budget? What does it mean for the future of car ownership? On today’s podcast, Ted Michalos and Doug Hoyes discuss the hidden costs of gas and how the increase in some of the price components will mean you’ll only be paying more to fuel your car. They also talk about the Ontario government’s plans to increase ethanol in oil and how that may impact fuel efficiency, and again, your budget...
456 – Has Tipping Gone Too Far? (Dealing w/ Tip Creep + Your Budget)
May 27, 2023 10:00 - 31 minutes - 44.3 MBTipping has always been a part of the dining experience. But lately, the expectation to leave a tip has become so common that we have to make it a new budgeting item. So how do you navigate tip creep? On today’s podcast, we have a special guest, Sean Cassidy, who shares his experience with tipping prompts and how he’s adapted his budget. Doug and Sean discuss why tip nudges are so prevalent post-Covid and lots of practical advice on how to budget for this new cost and minimize social awkward...
455 – Is Your Emergency Fund Good Enough For Any Crisis?
May 20, 2023 10:00 - 30 minutes - 44 MBEveryone says you need an emergency fund. But how much is enough? And what is an emergency vs. an inconvenience? Where should you store your savings? Enter Maureen Parent. Maureen returns to share lots of practical advice on how to setup a realistic system to create your emergency fund. She also explains how much you should have saved at different stages, the types of emergencies to prepare for, and why credit cards and lines of credit are not good rainy day fund tools to rely on. Tune in fo...
454 – Is Raising Your Credit Limit a Bad Sign?
May 13, 2023 10:00 - 31 minutes - 44.1 MBSay your bank offers you a credit limit increase. You may be tempted to take it, but should you? When is seeking more credit a sign that your finances aren’t in good shape? On today’s podcast, Mark Borysiak, our LIT in Barrie, joins Doug Hoyes to discuss just how much access to credit you should have and why getting an increase can cause debt problems. Mark and Doug also explain why the banks offer credit increases in the first place and why it’s good to first evaluate your finances before t...
453 – Should Shopping Be a Game? Risks of Apps Like Temu
May 06, 2023 10:00 - 32 minutes - 45.7 MBOnline shopping isn’t new. Apps are not new. But is shopping supposed to be a game? That’s the angle a new shopping app called Temu appears to have taken. Since its launch in September 2022, the app has millions of monthly users, offers very deep discounts, and has strong incentives to keep users coming back. On today’s podcast, Doug Hoyes takes a closer look at how Temu works and interviews users from very different age groups for comparison. He also discusses whether we should be concerned...