588 – Are You Financially Fit Enough to Invest?

588 – Are You Financially Fit Enough to Invest?

Author: Doug Hoyes December 6, 2025 Duration: 32:17

Start investing because your numbers say "go," not because the internet says "now."
This episode will remove the guesswork from entering the world of investing and provide a straightforward way for you to judge your readiness. Using simple math in layman's terms (think "why paying 20% interest beats chasing a maybe 10% return"), we discuss what to do first, how to keep bills safe from market swings, and when it makes sense to get professional help.

(00:00) Welcome Charlie Kovacs from Hoyes Michalos
(02:00) Do Canadians need to take big risks to get ahead? Myth vs. Reality
(05:00) Pay debt vs. Invest
(08:00) Fitness Test: Do you know your ins and outs?  
(11:00) Using your credit score as a tool, not a toy
(13:00) Emergency fund and liquidity
(16:30) Defining your "why" goals
(20:00) Is saving for a first home realistic?
(23:00) Are you knowledgeable enough to invest? Core concepts to know
(27:00) Choosing vehicles: TFSA, RRSP, employer match, and more

Should You Use a Bonus to Pay Debt or Invest?

Which Debts Should You Pay First?

What is the Right of Offset and What Should You Do About It?

Credit Repair Strategies and Rebuilding Course

Sign Up for the Monthly Debt Free Digest

Hoyes Michalos YouTube Channel

Learn About Debt Relief Options in Ontario


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 personal guidance from 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, strategies, or digital tools/apps 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
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…