178 – How to Pay Down Massive Debt

178 – How to Pay Down Massive Debt

Author: Doug Hoyes January 27, 2018 Duration: 16:13

You hear the stories about the person who paid off $100,000 in debt in just 3 years; sounds great, but how did they do it, and is that realistic for the average person?

The short answer is no, if you earn $25,000 per year it is mathematically impossible to pay off $100,000 in three years, but you do have options, which we discuss on today's show.


Doug Hoyes sits down each week with a different specialist to untangle the complicated feelings and hard numbers around owing money. The conversations in Debt Free in 30 move beyond simple scare tactics or dry theory, focusing instead on actionable strategies for managing debt, rebuilding savings, and making informed investing choices. You’ll hear from trustees, financial planners, and counselors who explain concepts in plain language, stripping away the industry jargon that often leaves people feeling overwhelmed. Whether it’s navigating a consumer proposal, understanding credit scores, or starting to invest with a tight budget, this podcast provides a clear-eyed look at the steps toward financial stability. Doug’s approach is grounded and pragmatic, reflecting his deep expertise in the field, making each episode feel like a direct consultation with a knowledgeable guide. Tuning in regularly offers a consistent source of demystified advice, turning what can be a stressful topic into a manageable process. It’s that blend of expert insight and relatable conversation that defines this particular personal finance podcast.
Author: Language: English Episodes: 500

Debt Free in 30
Podcast Episodes
464 –  Getting a Car Loan Today - What NOT To Do [not-audio_url] [/not-audio_url]

Duration: 33:30
Buying 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…
463 –  Want To Buy a Business? Here's What To Know First [not-audio_url] [/not-audio_url]

Duration: 34:25
Maybe 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…
462 –  How To Spot The Bank's Sales Tricks [not-audio_url] [/not-audio_url]

Duration: 32:52
Your 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…
461 –  Can't Pay Your Mortgage? Options To Keep Your Home [not-audio_url] [/not-audio_url]

Duration: 32:22
With 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…
460 –  Top Credit Repair Questions (& Fears) Answered! [not-audio_url] [/not-audio_url]

Duration: 31:49
We 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 credi…
459 –  The Pros & Cons of Self-Employment [not-audio_url] [/not-audio_url]

Duration: 34:17
Self-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 client…
458 –  Why You May Need More Than One Bank Account [not-audio_url] [/not-audio_url]

Duration: 29:30
While 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 banki…
457 –  Gas Costs May Be Higher Than You Think [not-audio_url] [/not-audio_url]

Duration: 32:28
The 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 discus…
455 –  Is Your Emergency Fund Good Enough For Any Crisis? [not-audio_url] [/not-audio_url]

Duration: 30:47
Everyone 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 advic…