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Debt Free in 30

Debt Free in 30

By: Doug Hoyes
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 Every week we take 30 minutes and talk to industry experts about debt, money and personal finance. Economics Personal Finance
Episodes
  • 596 – What To Do First When You're Behind On Bills

    596 – What To Do First When You're Behind On Bills
    Jan 31 2026

    Behind on bills and not sure where to start?

    If money is tight and payments are stacking up, this episode gives you a clear starting point. Doug Hoyes and Licensed Insolvency Trustee Maureen Parent break down what to prioritize first, what can safely wait, how to handle creditor calls, and when it makes sense to look at a more permanent fix.

    A practical, no-panic roadmap for protecting the basics, stabilizing cash flow, and making informed next steps when the math isn't working.

    If debt is keeping you up at night, you don't have to endure forever – Start Here

    Free Hoyes Michalos Budgeting Workbook

    Debt Relief Repayment Calculator

    Subscribe to the Debt Free Digest – A free monthly e-newsletter

    Learn more about Canadian debt relief on the Hoyes Michalos YouTube channel!

    (00:00) Falling behind doesn't mean you failed
    (03:10) The first 48 hours: what to pay first
    (07:00) Rent, mortgage, and car payments: how to prioritize
    (11:00) Utilities, phone, and internet: hardship options
    (14:30) Credit cards and lines of credit: what can wait
    (17:45) Payday loans and why they make things worse
    (20:30) Taxes and CRA debt: what actually helps
    (23:00) Calling creditors: what to say and what to track
    (25:30) Building a 30-day survival budget
    (28:00) When to consider a formal solution

    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.
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    31 mins
  • 595 – Mortgage Renewal Shock: What Homeowners Need to Know for 2026 | Ron Butler

    595 – Mortgage Renewal Shock: What Homeowners Need to Know for 2026 | Ron Butler
    Jan 24 2026
    Millions of Canadian mortgages taken out at ultra-low rates between 2020 and 2022 are now coming up for renewal – at much higher rates. That reality has led many to warn about a "mortgage renewal cliff" in 2026. Doug Hoyes is joined by Ron Butler (Butler Mortgage, Angry Mortgage Podcast) to unpack what's behind the renewal headlines, why renewal is a cash-flow test (not a crystal ball) and how homeowners can think clearly about their options as low-rate mortgages reset. A clear look at who may feel pressure at renewal, and how borrowers can think through their options before renewal letters arrive. 00:00 – What the "mortgage renewal cliff" actually means 03:10 – Which mortgages are renewing in 2026 06:00 – Why renewal math is very different from origination 09:30 – How bond yields flow through to mortgage rates 12:30 – Cash flow vs home equity at renewal 16:20 – Who is most at risk — and why 20:10 – House prices, equity, and renewal decisions 23:40 – Why even small delinquency increases matter 26:10 – How borrowers should think about renewal decisions 29:15 – Why renewal is a math test, not a market prediction Butler Mortgage Angry Mortgage Podcast on YouTube Scott Terrio on the Angry Mortgage Podcast Ron Butler live stream on Debt Free in 30 Mortgage Rate Charts Butler Mortgage Rates Butler Mortgage Calculator Toronto Real Estate Price History Subscribe to Debt Free Digest Newsletter – Don't Miss the Chance to WIN a Copy of The Wealthy Barber! Other sources: https://www.bankofcanada.ca/2025/07/staff-analytical-note-2025-21/ https://www.bankofcanada.ca/2025/01/staff-analytical-note-2025-1/ https://wowa.ca/infographics-finance-realestate-canada/mortgage-renewals-of-major-canadian-lenders https://www.canadianmortgagetrends.com/2025/10/canada-faces-400-mortgage-payment-spike-how-banks-are-preparing-for-the-renewal-storm/ https://economics.bmo.com/en/publications/detail/f9a87ba8-9962-4265-a2a9-e51303e269ca/ https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3310053001 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.
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    35 mins
  • 594 – Why Even High-Income Earners Struggle with Debt

    594 – Why Even High-Income Earners Struggle with Debt
    Jan 17 2026

    More and more high-income Canadians are finding themselves under financial pressure. Doug Hoyes and Ted Michalos examine the shift they are seeing firsthand and challenge some common assumptions about who struggles with debt.

    They discuss how rising costs, borrowing capacity, and income complexity can quietly change financial outcomes, even for people who appear financially secure.

    Subscribe to the Debt Free Digest Newsletter Here – Don't Miss the Chance to Win a Copy of The Wealthy Barber Book!

    CPI Data Statistics Canada

    Debt Free in 30: What's Breaking Canadian Consumers' Budgets?

    Need Help with Debt?

    If debt is keeping you up at night, you don't have to endure forever. Start here!

    Free Budgeting Workbook – Hoyes Michalos

    Debt Relief Calculator

    01:10 – The myth of the "typical" insolvency filer
    05:10 – Rising share of higher-income insolvency filings
    07:20 – Inflation and rising living costs
    09:40 – Housing costs, mortgages, and payment shock
    12:00 – Lifestyle creep and fixed-cost stacking
    14:30 – Variable income vs fixed monthly obligations
    16:40 – Easy access to credit and leverage loops
    21:30 – High income vs real cash-flow health
    23:40 – When refinancing and balance transfers fail
    27:20 – Practical next steps for high earners in trouble

    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.
    Show More Show Less
    30 mins
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