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

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.

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.

Are you considering stepping into the world of homeownership? This episode is packed with insights every first-time homebuyer needs. Doug Hoyes and Ted Michalos discuss why a declining market might benefit new buyers, the emotional traps leading to risky financial decisions, and the true cost of homeownership – beyond the mortgage. Learn how unexpected expenses (from land transfer taxes to home repairs) can derail your budget if you’re not prepared, the biggest regrets homeowners face, and how to avoid being “burned” by your first purchase.

00:00 - Why a declining market can be an opportunity for new homebuyers
02:30 - The emotional reasons people want to own a home over renting
04:45 - The biggest emotional mistake of buying a house
10:40 - The mortgage is just the tip of the iceberg for home costs
16:00 - Emergency fund vs. line of credit for home maintenance
18:00 - The inevitability of things needing repair
19:00 - Land transfer tax, and so much more
21:00 - The many other costs of buying a home: lawyer fees, moving, and HOAs
23:00 - The biggest regrets new homeowners have
27:00 - How to avoid being "burned" by buying a house
29:00 - The pressure of "keeping up with the Joneses”


A House Is Not An Investment If You Can’t Afford It – Debt Free in 30 Episode

“What to do if I can’t pay my mortgage?” Hoyes Michalos YouTube Channel

“I can’t afford my mortgage renewal, now what?” – Hoyes Michalos FAQ

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.

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.

This special compilation episode is packed with nuggets of wisdom and strategies for getting out of debt. We've pulled together the best clips on avoiding credit traps, building emergency funds, and implementing practical “budgeting” strategies.

00:00 – August is a special month before launching a new season
01:00 – Why people end up in debt
02:10 – How to avoid the minimum payment trap
03:40 – Building and maintaining an emergency fund
06:00 – How insolvency clients are a leading indicator of the economy
07:30 – Why you shouldn’t rely on credit in an emergency
10:00 – First steps to begin getting out of debt
12:05 – The problems with consolidation loans
14:00 – Practical budgeting tips: tracking income and expenses
16:00 – The benefits of putting your bills on autopay
19:00 – Don’t ignore your finances
21:10 – Why paying off high-interest debt is the best strategy (and why you still need an emergency fund)
24:00 – Why debt consultants send their clients to Licensed Insolvency Trustees

Debt Relief in Ontario

Debt Relief Biggest FAQs

Hoyes Michalos Free Canadian Credit Rebuilding and Repair Course

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.