Is tracking every single expense the key to taking control of your finances, or just a fast track to burnout? What are the pros and cons of meticulous money tracking? Doug Hoyes and guest Charlie Kovacs debate who benefits most from detailed spending logs, when it’s OK to simplify, and strategies to build a money system that actually sticks.

00:00 – Welcome & Introduction: Charlie explains why he’s a fan of tracking expenses
08:00 – Variable vs. Fixed Expenses: Focusing on variable expenses to reveal patterns
10:00 – How to Create a Simple Spending Summary
11:30 – The Motivation Problem: Why staying on track is hard
13:30 – Start Small: Charlie’s advice for tackling one category at a time
14:30 – One-Week Tracking Tip: Find Your Spending Baseline
20:00 – The Subtraction Method: Identifying savings opportunities
23:00 – Should You Have More Than One Bank Account? Pros and cons explained
26:00 – Finding What Works: Progress, not perfection


Personal Budgeting Help and Free Spreadsheet

DIY Credit Repair Strategies and Free Course

80/20 Money Management Rule

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Hoyes Michalos YouTube Channel


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.

Student loans can follow Canadians for years after graduation, sometimes delaying life milestones like buying a home or starting a family. In this episode, Doug Hoyes and Ted Michalos explain why student debt is so difficult to repay in Canada, the risks of borrowing for education, and the Supreme Court’s latest ruling on the “7-year rule” for government student loans. If you’re still paying off your education years later, this conversation sheds light on the challenges and options for relief.

00:00 – Why student loans in Canada are a massive problem
04:00 – When can government student loans be included in insolvency?
05:00 – Why does it take so long to pay off student loans?
06:15 – The future of specific jobs—and risks of student debt
08:50 – The hidden risks of borrowing for education
11:35 – Interest on student loans: federal vs. provincial rules
12:30 – Practical tips to pay off student loans faster
13:30 – The hidden costs of prolonged repayment
16:00 – How a consumer proposal might help with student loan repayment
18:45 – The Supreme Court’s decision and the 7-year rule explained
25:00 – Planning for the future beyond student debt

Section 178(1)(g)(ii)  of the Bankruptcy & Insolvency Act 

Piekut v. Canada (National Revenue).

National Student Loan Service Centre (NSLSC)

Bank of Canada Inflation Calculator

University of Toronto Tuition Fees Info 2025

DIY Credit Repair Strategies and Free Course

Sign Up for the Monthly Debt Free Digest

Hoyes Michalos YouTube Channel

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.

Making only the minimum payment on credit cards may feel manageable, but it’s one of the riskiest financial habits for Canadians today. Doug Hoyes and Ted Michalos explain the real math behind minimum payments and share practical strategies for breaking out of the cycle for good.

00:00 – Setting the stage: the shift from “getting by” to falling behind
02:30 – The math behind minimum payments
08:30 – Quebec’s new rules - will increasing minimum payments make a difference?
12:00 – Canada’s credit card landscape after the pandemic: the growing debt burden
17:05 – Red flags that you’re stuck in a minimum payment trap
22:00 – Strategies to recover from minimum payment habits
24:00 – Converting credit card balances to fixed-term loans
27:00 – How to break the cycle for good

How Credit Card Micropayments Can Reduce Your Debt Faster
DIY Credit Repair Strategies and Free Course
Credit Card Debt Help in Canada
Sign Up for the Monthly Debt Free Digest
Hoyes Michalos YouTube Channel

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.