357 –  16 Months Post-COVID: What's Going on with Debt, Savings & What's Next?

357 – 16 Months Post-COVID: What's Going on with Debt, Savings & What's Next?

Author: Doug Hoyes July 3, 2021 Duration: 33:10

We are now 16 months into the Coronavirus pandemic, and everything has changed. Canadians have increased their savings rate and put a dent in their unsecured debt obligations. But are these trends going to last? Will savings go back down and credit card balances surge once the economy fully reopens? And will stress levels increase when we are back together in the workplace? Join guest Ted Michalos for a lively discussion on what's happening and what's next.

 

Time Stamps:

 

3:50 How much are Canadians saving now?

6:54 What's happening with credit card debt?

11:11 What's in store for the future?

20:00 When will things return to normal?

24:48 Practical advice

 

Related Links:

Ep. 290 Dealing with Debt During COVID-19 https://youtu.be/lWmZDLaJ63o

Ep. 291 COVID-19 & Debt Update: Dealing with your Creditors https://youtu.be/NPUSxwQR-pg

Ep. 292 Debt, Frozen Real Estate, Cancelled HELOCs, and a Guaranteed Recession with Ben Rabidoux https://youtu.be/fek4xUoIkrc

Ep. 295 The Vultures are Circling: COVID-19 & High-Interest Loans https://youtu.be/yLK40Eq0vZw

Ep. 296 Dealing with Collection Calls in COVID-19: Debt Negotiations, Deferrals, and Credit Report Impact https://youtu.be/S86gnBEkeUY

Statistics Canada. Table 36-10-0112-01 Current and capital accounts - Households, Canada, quarterly https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610011201

Statistics Canada. Table 36-10-0639-01 Credit liabilities of households (x 1,000,000) https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610063901


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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