487 –  Consumer Insolvencies and Bankruptcies Continue to Rise [Year-End Analysis and 2024 Predictions]

487 – Consumer Insolvencies and Bankruptcies Continue to Rise [Year-End Analysis and 2024 Predictions]

Author: Doug Hoyes December 30, 2023 Duration: 35:17

In this year-end podcast, Doug and Ted review their 2023 predictions and share insights on what to expect in 2024. They discuss the accuracy of last year's forecasts on inflation, interest rates, and insolvency rates. Doug predicts a decline in inflation due to an anticipated recession, and Ted adds insights on borrowing for essential living costs and the potential rise in insolvencies. They acknowledge wildcard factors like the real estate market and unemployment rates. Tune in for predictions on what is on the horizon for 2024 and how it could shape your financial future. 

 

Related Links: 

2023 Debt Statistics and What It Means for Consumer Insolvencies 
https://www.hoyes.com/blog/2023-debt-statistics-and-what-it-means-for-consumer-insolvencies/  

Why Are Consumer Insolvencies Back Up? [Year-End Analysis + 2023 Predictions]   https://youtu.be/3i22JpmcozY  

Bank of Canada Interest Rates  https://www.hoyes.com/blog/rising-interest-rates-and-debt-what-can-you-do/ 

Federal Budget Deficit  https://hillnotes.ca/2023/04/06/the-2023-federal-budget-at-a-glance/ 

Bank of Canada: Definition of M2   https://www.bankofcanada.ca/rates/indicators/key-variables/monetary-aggregates/ 

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 

Statistics and Research from Statistics Canada 

https://ised-isde.canada.ca/site/office-superintendent-bankruptcy/en/statistics-and-research 
https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000401 
https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410032001 

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610063901 
https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1110006501
https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610011201

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3810023801

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410028701


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

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