224 – Chatbots: Helping Your Finances or Up-selling?

224 – Chatbots: Helping Your Finances or Up-selling?

Author: Doug Hoyes December 14, 2018 Duration: 35:06

Financial technology, or fin-tech, has come a long way. Much more than just a budgeting app, now you can do your banking, money management, investing and even borrowing, online. In addition to apps, fin-tech companies are following the chatbot trend. On today's show I talk with Alan Whitton, (known as the Big Cajun Man), who has spent 35 years working in the tech industry, about whether chatbots are good for us financially and security issues around fin-tech in general.

Alan interestingly points out that there isn't a lot of fin-tech companies helping people get out of debt. Most fin-tech companies go where the big money is - and that's selling new stuff.  There are very few apps that tell you to prioritize savings, create an emergency fund, or pay off debt.  Instead, we hear about robo-investors and companies like Borrowell that make a lot of money offering 'free' credit scores to entice you to borrow more.

Are chatbots just a sales pitch, or can they really help us?  Tune in for more 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
608 – Advice or Sales Pitch? Why Canadians Have Lost Trust in Banks [not-audio_url] [/not-audio_url]

Duration: 30:27
Most Canadians trust their bank to help them make smart financial decisions. But sometimes, what feels like advice is shaped by something else. We talk about how bank incentives influence recommendations, why that can le…
607 – Credit Score vs Cash Flow: What Actually Matters in a Crisis? [not-audio_url] [/not-audio_url]

Duration: 30:22
A high score does not always indicate stable finances. It is possible to keep up with most of your bills and maintain a decent credit score while still feeling like you are falling behind. When cash flow is stretched, ev…
605 – Owe CRA Tax Debt? The Biggest Loan Mistake Canadians Make [not-audio_url] [/not-audio_url]

Duration: 30:23
Owing money to the CRA can feel urgent, and taking out a loan might seem like the fastest way to fix it. But in many cases, it can make your situation worse. Doug Hoyes and Ted Michalos break down when borrowing to pay o…