458 –  Why You May Need More Than One Bank Account

458 – Why You May Need More Than One Bank Account

Author: Doug Hoyes June 10, 2023 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 banking best practices, including how many accounts you should have, where to store your savings, and why it's important to understand the right of offset if you owe your bank. They also explain how deposit insurance works and high-interest savings accounts. Tune in for an informative discussion and practical advice!

Links:

Why You Should Bank at More Than One Bank: https://www.hoyes.com/blog/why-you-should-bank-at-more-than-one-bank/

Frozen Bank Account. Your Rights and What To Do Next: https://www.hoyes.com/blog/frozen-bank-account-your-rights-and-what-to-do-next/

What is the Right of Offset and What Can You Do About It: https://www.hoyes.com/blog/what-is-the-right-of-offset-and-what-can-you-do-about-it/

Joel Sandwith, LIT in London: https://www.hoyes.com/about-hoyes-michalos/bankruptcy-trustees/joel-sandwith/


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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