Welcome to Season 11, unofficially deemed our *practical* era.

Are your expenses outpacing your income? With inflation rising and wages lagging, many Canadians are feeling financial strain. Doug Hoyes and Ted Michalos discuss why government stats might not tell the whole story, why lowering interest rates won’t solve everything, and share practical advice for anyone struggling to keep up with debt.

Timestamps:

(0:00) Spending More, Not Making More? Hilarious Season 11 Premier with Doug Hoyes and Ted Michalos

(1:00) How Different Groups Have Fared from 2019 to Now

(3:00) Discrepancies in Government Stats: Inflation vs. Wage Growth

(4:50) How Has Everyone Been Coping with Rising Prices and Stagnant Wages?

(8:10) Looking Ahead: Why Falling Behind Might Be Inevitable for Some

(9:20) Bank of Canada Rate Cuts: Why They Won't Make a Big Impact

(10:28) The Reality of Recession: Focusing on the Most Vulnerable

(13:10) The Pitfalls of Side Gigs and Increasing Income

(14:50) Strategies to Decrease Expenses

(17:22) Mindset Matters: Breaking Out of Unhelpful Financial Habits

(19:15) The Future of Debt Free in 30: What to Expect

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Resources:
“Joe Debtor” Hoyes Michalos Annual Bankruptcy Study
Rising Interest Rates and Debt – Current Rates
Tips to Avoid Debt
Inflation is Driving Up Credit Card Usage
What To Do? Advice for Overwhelming Debt


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 personalized guidance from a qualified financial advisor. Always consult with 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 or strategies discussed.