535 – How Seasonal Workers Can Manage Income and Debt

535 – How Seasonal Workers Can Manage Income and Debt

Author: Doug Hoyes November 30, 2024 Duration: 30:39

Many Canadians have seasonal employment or variable income, making financial planning more complex.

Doug Hoyes and Ted Michalos provide practical strategies for managing income fluctuations, saving effectively, dealing with debt, and handling taxes during off-seasons. 

This episode is a must-listen for anyone navigating seasonal employment or variable income.

Timestamps:

(2:00) – The Seasonality of Jobs: Challenges for Canadian workers

(4:00) – Saving Money: Why it's easier said than done

(6:45) – Financial Planning: Why every seasonal worker needs a plan

(8:50) – E.I. Eligibility in Canada: Can you qualify during the off-season?

(10:00) – Emergency Funds: Essential for seasonal employment stability

(12:15) – Boosting Income: ways to earn extra during off-seasons.

(15:20) – Strategic Use of Credit Cards

(16:30) – Pay Off Debt or Invest? How to prioritize your money

(19:00) – Smart Savings: Where to put your money

(22:00) – Taxes for Seasonal and Self-Employed Canadians: What to know

(25:00) – Staying Flexible: Preparing for life's financial uncertainties

Learn more from Hoyes Michalos:

Managing Money on a Variable Income

First-time Home Buyer Podcast

Credit Rebuilding Course
 
Sign Up for Our Newsletter HERE

Hoyes Michalos YouTube Channel


Hoyes Michalos Instagram

Hoyes Michalos Facebook

Hoyes Michalos TikTok

Hoyes Michalos Twitter (X)

Hoyes Michalos LinkedIn

Straight Talk on Your Money by Doug Hoyes

Find a Hoyes Michalos Office in Your Area Here

Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized advice from a qualified financial advisor. Always consult with a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed.

 


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: 100

Debt Free in 30
Podcast Episodes
577 – How to Break Free from the Minimum Payment Trap [not-audio_url] [/not-audio_url]

Duration: 30:40
Making only the minimum payment on credit cards may feel manageable, but it's one of the riskiest financial habits for Canadians today. Doug Hoyes and Ted Michalos explain the real math behind minimum payments and share…
574 – Simple Shifts: Ways to Save More and Spend Less [not-audio_url] [/not-audio_url]

Duration: 30:44
Looking to save more and spend smarter? This episode is packed with practical, expert-backed tips - from insider grocery hacks and avoiding hidden fees to smarter banking strategies. Learn how simple shifts, like opening…
570 – Debt Free in 30: Bloopers & Best Bits! [not-audio_url] [/not-audio_url]

Duration: 10:41
While we're known for expert debt advice, let's say it's a good thing we're better at being LITs than we are at staying on script! Join us for a compilation of our funniest on-air flubs, the kind of candid moments that u…
568 – Can You Have Good Debt? Debt In Canada Today [not-audio_url] [/not-audio_url]

Duration: 29:58
Is debt still avoidable, or has borrowing become a fact of life in Canada? Ontario Licensed Insolvency Trustees Doug Hoyes and Ted Michalos answer our questions, share a simple test to assess new debt, and provide an act…
567 – How to Financially Prepare for Canada's Recession [not-audio_url] [/not-audio_url]

Duration: 30:21
Don't just brace for a recession, prepare to come out stronger. This conversation is about turning Canada's economic uncertainty into an opportunity for financial growth (or, at least, stability). We'll equip you with pr…