314 – Season 7 Premiere: What's Going to Happen with Debt in the Fall?

314 – Season 7 Premiere: What's Going to Happen with Debt in the Fall?

Author: Doug Hoyes September 5, 2020 Duration: 18:32

Welcome to the season 7 premiere of Debt Free in 30. It's only September but it's been an eventful year already, eh? Insolvency filings were high at the start of 2020 but fell to record lows by the month of May.  Unemployment is high, but so is the savings rate.  How is that possible?

Today we discuss these stats, and look ahead to the Fall. Collection agencies are starting to make more calls, so will insolvencies go back up? The federal government has also announced that the CERB will soon end and transition to EI. Will this be enough for individuals still out of work? That and more on the first show of Season 7; enjoy!

Relevant Links:

 

Ontario Bankruptcy and Consumer Proposal Statistics: https://www.hoyes.com/press/consumer-insolvency-statistics/

Coping with Consumer Debt as the Economy Reopens: https://www.hoyes.com/blog/coping-with-consumer-debt-as-the-economy-reopens/

Canadian Bankers Association - Facts on Bank Measures in Response to COVID-19: https://cba.ca/fast-facts-on-bank-measures-in-response-to-the-covid-19-pandemic

Retail Trade, June 2020, Statistics Canada: https://www150.statcan.gc.ca/n1/daily-quotidien/200821/dq200821a-eng.htm

Savings, Debt & Modern Monetary Theory with Hilliard MacBeth: https://www.youtube.com/watch?v=Wx_7T6YWT8w

Debt Free in 30 Full Podcast Archives: https://www.hoyes.com/debt-free-30-podcast/


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
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